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Kuwait Oil and Gas Report Q1 2016

  • ID: 3526545
  • January 2016
  • Region: Kuwait
  • 93 pages
  • Business Monitor International
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Kuwait has made progress on key oil and gas projects that have previously been stalled, namely a major investment push targeting the downstream sector, but we maintain the country will fall short of ambitious production targets for both oil and gas. In addition to political and regulatory risks, Kuwait's oil sector also faces structural challenges from a surplus in both OPEC and non-OPEC supplies, and this will further weigh on the long-term production outlook.

Latest Updates and Key Forecasts:
- Kuwait has maintained ambitious production targets for both oil and gas. In order to address an increasing gap between supply and demand, Kuwait hopes to increase domestic output to more than 20bcm by 2020. Officials have also said they plan to raise oil production capacity to 4mn b/d by 2020 from around 3.2mn b/d currently. However, although Kuwait is thought to possess untapped hydrocarbons potential, political and regulatory disputes have prevented progress on upstream investment, and we expected the country to fall short of stated production targets for both oil and gas.

- Plans to raise output will also be affected by the global supply-demand balance. OPEC producers have focused on maintaining high levels of output to protect market share and undercut high cost production from outside the bloc, though this has led a sharp decline in global oil prices, which are likely to remain suppressed as Iranian volumes return to market over 2015. These dynamics will further weigh on Kuwait's plans to raise production capacity.

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Table: Headline Forecasts (Kuwait 2013-2019)

SWOT

Oil & Gas SWOT

Industry Forecast

Upstream Exploration

Latest Updates

Structural Trends

Unconventional Upside
Table: Proven Oil and Gas Reserves (Kuwait 2013-2018)
Table: Proven Oil and Gas Reserves (Kuwait 2019-2024)

Upstream Projects
Table: Kuwait - Key Upstream Projects

Upstream Production - Oil

Latest Updates

Structural Trends
Table: Oil Production (Kuwait 2013-2018)
Table: Oil Production (Kuwait 2019-2024)

Upstream Production - Gas

Latest Updates
Table: Gas Production (Kuwait 2013-2018)
Table: Gas Production (Kuwait 2019-2024)

Refining

Latest Updates

Structural Trends
Table: Refining Capacity and Refined Products Production (Kuwait 2013-2018)
Table: Refining Capacity and Refined Products Production (Kuwait 2019-2024)

Refined Fuels Consumption

Latest Updates

Structural Trends
Table: Refined Products Consumption- (Kuwait 2013-2018)
Table: Refined Products Consumption- (Kuwait 2019-2024)

Gas Consumption

Latest Updates

Structural Trends
Table: Gas Consumption (Kuwait 2013-2018)
Table: Gas Consumption (Kuwait 2019-2024)

Trade - Oil

Latest Updates

Structural Trends
Table: Crude Oil Net Exports (Kuwait 2013-2019)
Table: Crude Oil Net Exports (Kuwait 2019-2024)
Table: Refined Fuels Net Exports (Kuwait 2013-2018)
Table: Refined Fuels Net Exports (Kuwait 2019-2024)
Table: Total Net Oil Exports - Crude and Products (Kuwait 2013-2018)
Table: Total Net Oil Exports - Crude and Products (Kuwait 2019-2024)

Trade - Gas (Pipeline and LNG)

Latest Updates

Structural Trends
Table: Kuwait LNG Infrastructure
Table: Gas Net Exports (Kuwait 2013-2018)
Table: Gas Net Exports (Kuwait 2019-2024)

Industry Risk Reward Ratings

Middle East Oil & Gas Risk/Reward Index
Table: BMI's Middle East Oil & Gas Risk/Reward Index (RRI)

Index Resilient In Lower Price Environment
Table: Middle East Upstream Oil & Gas Risk/Reward Index

Limited Opportunities Downstream
Table: Middle East Downstream Oil & Gas Risk/Reward Index

Kuwait - Risk/Reward Index

Kuwait Upstream Index

Kuwait Downstream Index

Market Overview

Kuwait Energy Market Overview

Regulatory Structure

Fiscal Terms
Table: Kuwait - Upstream Tax Regime
Table: Kuwait - Contracts & Licensing Regime

Oil And Gas Infrastructure

Oil Refineries
Table: Oil Refineries In Kuwait

Oil Storage Facilities
Table: Kuwait - Oil Terminals & POrts

LNG Terminals
Table: Kuwait - Existing and Planned LNG Infrastructure

Gas Storage Terminals
Table: Kuwait - Gas Storage Terminals

Gas Pipelines
Table: Kuwait - Gas Pipelines

Crude Oil Pipelines
Table: Kuwait - Crude Oil Pipelines

Competitive Landscape

Competitive Landscape Summary
Table: Key Kuwaiti Oil & Gas Sector Players

Company Profile

Kuwait Petroleum Corporation (KPC)

Kuwait National Petroleum Company (KNPC)

Chevron

Other Summaries

Regional Overview

Middle East Oil & Gas Regional Overview

Oil Production: Expansion Projects March On

Oil Consumption: Subsidies Hide Weaker Price Impact, But Push Demand Growth

Refining Capacity: Mega Refineries Outcompete In Oversupplied Market

Gas Production: In Needed Of More Gas

Gas Consumption: Switch To Gas Power Will Boost Demand
Table: Middle East Oil & Gas Production, Refining Capacity & Trade

Glossary
Table: Glossary Of Terms

Methodology

Industry Forecast Methodology

Source

Risk/Reward Index Methodology
Table: Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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Kuwait Petroleum Corporation (KPC)
Kuwait National Petroleum Company (KNPC)
Chevron

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Note: Product cover images may vary from those shown

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