BMI View: Croatia ' s conservative government has failed to fully articulate its policies for the oil and gas sector, but the administration has adopted a pro-business stance generally that benefit investors. The government could help to restore confidence in the sector following protracted delay and uncertainty over licensing rounds. Aside from a floating proposed liquefied natural gas (LNG) terminal, the oil and gas sector is likely only to attract a modest level of investment.
|e/f = BMI estimate/forecast. Source: National sources, BMI|
|Crude, NGPL & other liquids prod, 000b/d||14.3||16.3||15.7||15.1||14.6||14.1||13.6|
|Refined products production, 000b/d||84.1||72.3||70.9||70.2||70.2||70.2||70.2|
|Refined products consumption & ethanol, 000b/d||88.0||136.1||358.9||1,317.0||5,510.0||23,860.6||104,326.4|
|Dry natural gas production, bcm||1.5||1.4||1.4||1.4||1.3||1.3||1.2|
|Dry natural gas consumption, bcm||2.3||2.6||2.8||2.9||2.9||3.0||3.1|
Latest Updates And Key Forecasts
Political uncertainty has slowed activity in Croatia's oil and gas sector. Prime Minister Andrej Plenkovic has said his government will prioritise efforts to boost the economy and improve the investment climate, which could include measures intended to clarify the approach to the oil and gas sector. The government's approach to the sector is not fully understood, but efforts to increase investment in exploration and production would be consistent with the wider pro-business agenda outlined by the government.
Croatia's main energy producer, INA, continues to invest in the further development of the country's oil and gas resources. INA is targeting EOR projects, modest growth from its onshore and offshore fields in Croatia and an increased number of well workovers and well interventions. However despite the investment, Croatia's overall level of oil and gas output continues to decline.
Croatia LNG officials plan to finalise agreements with project stakeholders before the end of 2016. Three partners who will share 75 percent of the company and the commercial contracts were expected to be completed by the end of the year. A final investment decision on the project is still expected in early 2017.
In October, Energy Minister Slaven Dobrovic told reporters that the Croatia was considering shutting one of the countries two refineries. The following month INA signed a contract with Spanish company Tecnicas Reunidas for the first phase of an upgrade of the Rijeka refinery. Ongoing investment makes it unlikely that the facility will be closed in the near-term absent some significant development.
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.
- 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.
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.
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.
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.
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 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.
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.