Croatia Oil & Gas Report

Providing expert analysis, independent forecasts and competitive intelligence on the oil and gas industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Oil & Gas Risk Reward Index, Market Summary, Economic Forecasts, Company Profiles, Competitive Landscape and Global and Regional Overview.

Why you should buy this report

  • Benefit from the latest market opportunities
  • Understand the threats to your operations and investments and protect your company against future risks
  • Gain insight on emerging trends that could support, strengthen or disrupt your activities in the market
  • Get a full view of the competitive landscape to assess your market position
×

Sign up to download the Croatia Oil & Gas Report

By submitting this form you are acknowledging that you have read and understood our Privacy Policy.

Thank you for your interest

You will shortly receive your free executive summary by email.

Croatia Oil & Gas Report
Product Price
$1,295.00

BMI View: Croatia's new government is likely to impose new restrictions on offshore drilling amid growing domestic opposition stemming from concern for the environment and tourism sector. This, alongside ongoing maritime boundary disputes, creates additional uncertainty for investors in Croatia's oil and gas sector. Progress on the Krk liquefied natural gas terminal continues and a final investment decision was expected mid-2016; a positive decision would see Croatia emerge as a regional energy hub.

Headline Forecasts (Croatia 2014-2020)
2014 2015e 2016f 2017f 2018f 2019f 2020f
e/f = BMI estimate/forecast. Source: BMI, EIA
Crude, NGPL & other liquids prod, 000b/d 14.2 13.9 13.4 13.0 12.5 12.1 11.7
Dry natural gas production, bcm 1.7 1.7 1.6 1.6 1.5 1.5 1.4
Dry natural gas consumption, bcm 2.3 2.4 2.4 2.4 2.5 2.6 2.6
Refined products production, 000b/d 83.6 84.5 85.3 86.2 87.0 87.9 88.8
Refined products consumption & ethanol, 000b/d 73.6 73.4 73.4 73.6 74.2 74.9 75.9
Brent, USD/bbl 99.50 53.60 42.50 53.00 55.00 60.00 67.00

The main trends and developments in Croatia's oil and gas sector are:

  • Prime Minister Tihomir Oreskovic, who took office in January 2016, has expressed doubts over offshore drilling due to environmental concerns. Amid a growing backlash against offshore exploration, there is growing uncertainty facing the industry. Oreskovic has backed onshore exploration, but new regulations, and possibly even a ban on drilling in the Adriatic, are possible, though the government policy remains unclear. In addition to environmental opposition, contested maritime boundaries present further obstacles to investment, as evidenced by OMV and Marathon's decision to relinquish blocks awarded during an offshore bidding round.

  • Uncertainty over the future of Croatia's nascent offshore oil and gas sector only reinforces the bearish prospects for reserves and production of both oil and gas. The absence of clarity on policy only exacerbates the impact of low oil prices, which will further discourage investment in Croatia's upstream sector, which is thought to have only modest upside potential.

  • Croatia confirmed receipt of seven bids for a proposed LNG import terminal on Krk island. Officials indicated they hoped to make a final investment decision by mid-2016 and complete the project by 2019. Development of the terminal would position Croatia as a key source of alternative supply to imports of Russian gas. The project could also help to meet growing domestic demand for as domestic output continues to decline.

  • Croatia's downstream sector continues to benefit from lower feedstock costs and strong demand within the region for refined products. However domestic demand in Croatia remains weak, a function of a limited market size and unimpressive economic growth. Following years of tensions and failed talks between the government and MOL, it is unclear whether the new government will be able to resolve long-standing tensions that have created considerable uncertainty over the downstream sector. The profitability and sustainability of the domestic refining sector remains uncertain.

BMI Industry View
7
Table: Headline Forecasts (Croatia 2014-2020)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
11
Upstream Exploration
11
Latest Updates
11
Structural Trends
11
Table: Proven Oil and Gas Reserves (Croatia 2014-2019)
14
Table: Proven Oil and Gas Reserves (Croatia 2020-2025)
14
Upstream Production - Oil
15
Latest Updates
15
Structural Trends
15
Table: Oil Production (Croatia 2014-2019)
17
Table: Oil Production (Croatia 2020-2025)
17
Upstream Production - Gas
17
Latest Updates
17
Structural Trends
17
Table: Gas Production (Croatia 2014-2019)
19
Table: Gas Production (Croatia 2020-2025)
19
Refining
20
Latest Updates
20
Structural Trends
20
Table: Refining Capacity and Refined Products Production (Croatia 2014-2019)
22
Table: Refining Capacity and Refined Products Production (Croatia 2020-2025)
22
Refined Fuels Consumption
23
Latest Updates
23
Structural Trends
23
Table: Refined Products Consumption (Croatia 2014-2019)
25
Table: Refined Products Consumption (Croatia 2020-2025)
25
Gas Consumption
25
Latest Updates
25
Structural Trends
25
Table: Gas Consumption (Croatia 2014-2019)
27
Table: Gas Consumption (Croatia 2020-2025)
27
Trade - Oil
27
Latest Updates
27
Structural Trends
27
Table: Crude Oil Net Exports (Croatia 2014-2020)
28
Table: Crude Oil Net Exports (Croatia 2020-2025)
29
Fuels Trade Forecast
29
Table: Refined Fuels Net Exports (Croatia 2014-2019)
29
Table: Refined Fuels Net Exports (Croatia 2020-2025)
29
Table: Total Net Oil Exports - Crude and Products (Croatia 2014-2019)
30
Table: Total Net Oil Exports - Crude and Products (Croatia 2020-2025)
31
Trade - Gas (Pipeline And LNG)
31
Latest Updates
31
Structural Updates
31
Table: Gas Net Exports (Croatia 2014-2019)
33
Table: Gas Net Exports (Croatia 2020-2025)
33
Industry Risk Reward Index
35
Central And Eastern Europe - Oil & Gas Risk/Reward Index
35
Table: Regional Risk/Reward Index Averages - High Risk, Low Reward In Central And Eastern Europe
35
Table: Central And Eastern Europe - Upstream, Downstream And Overall Risk/Reward Index
36
Upstream: China Still The Target Market
37
Table: Central And Eastern Europe Upstream Risk/Reward Index
39
Downstream: Turkish STAR Only Bright Spot In Weak Market
40
Table: Central And Eastern Europe - Downstream Risk/Reward Index
42
Croatia - Risk/Reward Index
44
Market Overview
46
Croatia Energy Market Overview
46
Regulatory Structure
46
Fiscal Regime
47
Table: Croatia - Upstream Tax Regime
47
Licensing Regime
47
Table: Croatia - Contracts and Licensing Regime
47
Licensing Rounds
47
Oil And Gas Infrastructure
49
Oil Refineries
49
Table: Oil Refineries In Croatia
49
Oil Storage Facilities
49
Oil Terminals/Ports
50
Table: Croatia Oil Terminals & Ports
50
LNG
50
Table: Existing And Planned LNG Terminals
50
Table: Croatia - Gas Storage Terminal
50
Gas Pipeline
50
Table: Croatia - Natural Gas Pipeline
50
Crude Oil Pipelines
51
Table: Croatia - Crude Oil Pipelines
51
Competitive Landscape
52
Competitive Landscape Summary
52
Table: Key Players In Croatian Energy Sector
54
Table: Key Upstream Players
54
Table: Key Downstream Players
54
Company Profile
55
Eni
55
INA
58
Janaf
62
Other Summaries
65
Regional Overview
67
Central And Eastern Europe Oil And Gas Regional Overview
67
Oil Production: Output Growth Stalling
67
Oil Consumption: Weak EM Growth Softens Demand
68
Refining Capacity: Modernisation Over Capacity Growth
69
Natural Gas Production: Gas Ramp-Up Depends On China's Hunger
70
Table: Central Asia-China Gas Pipeline Expansions
71
Gas Consumption: Demand Falters On Struggling Economies
72
Table: Central And Eastern Europe - Oil And Gas Production And Consumption, Refining Capacity And Trade
73
Glossary
75
Table: Glossary Of Terms
75
Methodology
77
Industry Forecast Methodology
77
Source
79
Risk/Reward Index Methodology
79
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
81
Table: Weighting
82

The Croatia Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for Croatia including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Croatia Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Croatian oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Croatia to test consensus views - a key input for successful budgeting and strategic business planning in the Croatian oil and gas market.
  • Target business opportunities and risks in the Croatian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Croatia.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the upstream and downstream sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast:

  • Pricing: Oil price (USD/bbl, WTI, Brent, OPEC basket, Urals); oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene – USD/bbl) at global hubs.
  • Production, Consumption, Capacity & Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (‘000b/d); proven gas reserves (tcm), production and consumption (bcm) and fuels trade.
  • Imports & Exports: Crude oil exports/imports (‘000s b/d) and value of crude oil trade in USD. Fuels exports/imports (‘000s b/d) and value of fuels trade in USD. Natural gas imports/exports (bcm), by pipeline and/or LNG, and value of natural gas trade.

BMI’s Oil & Gas Risk Reward Index

BMI’s Risk Reward Indices provide investors (independents, NOCs, IOCs, oil services companies) looking for opportunities in the region with a clear country-comparative assessment of the upstream and downstream market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

A profile of the upstream and downstream sectors, including analysis of reserves, output, consumption and trade of energy products; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Competitive landscape

Comparative company analyses by USD sales, % share of total sales, number of employees, year established, ownership structure, oil production (‘000b/d), gas production (bcm), downstream capacity (‘000b/d) and % market share.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Regional Overview

Regional perspective on size and value of the industry. Plus comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Global Oil Market & Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2024 for oil, gas and oil products.

Sources

The Oil & gas Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.