Ecuador 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 Ecuador 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.

Ecuador Oil & Gas Report
Product Price
$1,295.00

BMI View: Ecuador's upstream sector will suffer from the broader industry downturn through the remainder of the decade, but its downstream sector is likely to shift to net exp orter status by 201 8 . We hold a modest growth outlook for the country as a result of increasingly limited upstream prospects and continued uncertainty regarding the future of Ecuador's largest untapped oil field .

Headline Forecasts (Ecuador 2014-2020)
2014e 2015e 2016f 2017f 2018f 2019f 2020f
e/f = BMI estimate/forecast. Source: EIA, BMI
Crude, NGPL & other liquids prod, 000b/d 557.5 543.6 551.7 565.5 582.5 597.0 606.0
Refined products production, 000b/d 142.1 127.9 172.6 173.5 294.9 442.4 444.6
Refined products consumption & ethanol, 000b/d 264.2 266.8 270.8 274.9 280.4 286.7 293.9
Dry natural gas production, bcm 0.7 0.7 0.7 0.8 0.8 0.8 0.8
Dry natural gas consumption, bcm 0.5 0.5 0.6 0.6 0.6 0.6 0.6
Brent, USD/bbl 99.50 53.60 40.00 53.00 62.00 65.00 71.00

Latest Updates and Key Forecasts:

  • We have upgraded our forecast for Ecuadorian liquids production to account for increased investment into its mature oil assets. We now expect the country to return to growth in 2016 as oilfield services (OFS) providers boost output from existing projects.

  • The continued practice of non-intervention by OPEC members will maintain elevated production levels and sustain oil price weakness over the next year. While profits within the sector will suffer, we believe the government will meet its external debt commitments over the next year owing to structural changes within the country's domestic economy.

  • The controversial ITT heavy oil field project began in April, with Petroamazonas spudding its first well in the Tiputini field on the fringe of the Yasuni National Park. Development of Block 43 began from the Tiputini C drilling pad in the Amazon rainforest despite strong grassroots and international opposition to the project given the environmentally sensitive nature of the area. First oil from the area is expected before the end of the year, with production expected to reach 20,000b/d by December.

  • The start-up of the modernised Esmeraldas refinery in Q415 will weigh on Ecuador's net crude exports as imported supplies are used to feed the facility.

  • With respect to gas, what little activity there is remains centred on bolstering output from Block 6 in the Gulf of Guayaquil. While there has been some investment into further exploration, we believe production of natural gas will remain minimal such that output will begin to slip toward the mid-point of our forecast period.

BMI Industry View
7
Table: Headline Forecasts (Ecuador 2014-2020)
7
SWOT
8
Oil & Gas SWOT
8
Industry Forecast
10
Upstream Exploration
10
Latest Updates
10
Structural Trends
10
Upstream Projects
12
Table: Ecuador - Key Upstream Projects
12
Upstream Production - Oil
13
Latest Updates
13
Structural Trends
13
Table: Oil Production (Ecuador 2014-2019)
18
Table: Oil Production (Ecuador 2020-2025)
18
Upstream Production - Gas
19
Latest Updates
19
Structural Trends
19
Table: Gas Production (Ecuador 2014-2019)
21
Table: Gas Production (Ecuador 2020-2025)
21
Refining
22
Latest Updates
22
Structural Trends
22
Table: Refining Capacity and Refined Products Production (Ecuador 2014-2019)
24
Table: Refining Capacity and Refined Products Production (Ecuador 2020-2025)
25
Refined Fuels Consumption
25
Latest Updates
25
Structural Trends
25
Table: Refined Products Consumption (Ecuador 2014-2019)
26
Table: Refined Products Consumption (Ecuador 2020-2025)
27
Gas Consumption
27
Latest Updates
27
Structural Trends
27
Table: Gas Consumption (Ecuador 2014-2019)
28
Table: Gas Consumption (Ecuador 2020-2025)
28
Trade - Oil
29
Crude Oil Trade Forecasts
29
Latest Updates
29
Structural Trends
29
Table: Crude Oil Net Exports (Ecuador 2014-2020)
30
Table: Crude Oil Net Exports (Ecuador 2020-2025)
31
Fuels Trade Forecast
31
Latest Updates
31
Structural Trends
31
Table: Refined Fuels Net Exports (Ecuador 2014-2019)
32
Table: Refined Fuels Net Exports (Ecuador 2020-2025)
33
Trade - Gas (Pipeline and LNG)
33
Latest Updates
33
Structural Trends
33
Table: Gas Net Exports (Ecuador 2014-2019)
35
Table: Gas Net Exports (Ecuador 2020-2025)
35
Industry Risk Reward Ratings
36
Latin America - Risk/Reward Index
36
Table: Latin America - Composite Risk/Reward Index, Out of 100
36
Composite RRI: Sector Shifts Continue To Take Shape
37
Upstream RRI: Few Shifts, But Changes Loom
38
Table: Latin America - Upstream Risk/Reward Index, Out of 100
39
Downstream RRI: Medium-Term Outlook Reinforces Current Dynamics
41
Table: Latin America Downstream Risk/Reward Index, Out of 100
43
Ecuador - Risk/Reward Index
44
Ecuador Upstream Index - Overview
44
Ecuador Downstream Index - Overview
45
Market Overview
46
Ecuador Energy Market Overview
46
Licensing And Regulation
46
Government Policy
46
Licensing Rounds
47
International Energy Relations
48
Oil And Gas Infrastructure
50
Oil Refineries
50
Table: Refineries In Ecuador
51
Service Stations
52
Oil Pipelines
52
Oil Storage
53
Competitive Landscape
54
Table: Key Upstream Players
55
Table: Key Downstream Players
55
Company Profile
56
Petroecuador/Petromazonas
56
Eni Ecuador
62
Repsol
65
Other Summaries
68
Regional Overview
71
Latin America Overview
71
Table: Latin America Oil And Gas Production, Refining Capacity And Trade, 2013-2024
80
Glossary
82
Table: Glossary Of Terms
82
Methodology
84
Industry Forecast Methodology
84
Source
86
Risk/Reward Index Methodology
86
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
88
Table: Weighting
89

The Ecuador Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for Ecuador 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 Ecuador Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Ecuadorian oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Ecuador to test consensus views - a key input for successful budgeting and strategic business planning in the Ecuadorian oil and gas market.
  • Target business opportunities and risks in the Ecuadorian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Ecuador.
  • 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.