Israel Oil & Gas Report

Published 09 June 2015

  • 115 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
$1,295.00
Israel Oil & Gas Report

BMI View: The positive investment environment that drove the record development of the Tamar field has been severely damaged with the Antitrust Authority 's move to improve break up the Noble, Delek monopoly in the offshore segment . Development of the Leviathan field will be delayed, postponing gas consumption growth and export opportunities .

Headline Forecasts (Israel 2013-2019)
2013 2014e 2015f 2016f 2017f 2018f 2019f
e/f = BMI estimate/forecast. Source: EIA, BMI
Crude, NGPL & other liquids prod, 000b/d 0.5 1.6 1.6 1.8 1.8 2.0 2.8
Dry natural gas production, bcm 6.2 8.5 9.1 11.6 13.3 15.0 19.7
Dry natural gas consumption, bcm 7.0 8.5 9.1 10.0 10.0 10.0 11.2
Refined products production & ethanol, 000b/d 250.8 249.5 250.5 251.5 252.5 253.5 249.7
Refined products consumption & ethanol, 000b/d 238.2 228.7 230.7 231.0 225.5 221.2 214.6

We highlight the following trends and developments in Israel's oil and gas sector:

  • The Israeli Antitrust Authority proposed its plan to improve competition in the Israeli offshore by having five major players controlling the three main field groups:

    • Delek Group is to sell its entire 31% stake in the Tamar field.

    • Noble Energy is to reduce its stake in the Tamar field from 36% to 25%, but will remain operator.

    • Both Noble and Delek will be required to sell their entire holdings in the Karish and Tanin fields within the next 12 months (by Q216).

    • Export quotas from the divestment of these fields will be transferred to the Leviathan field, but only once the Tanin and Karish fields are connected to the mainland.

  • Due to uncertainty in the upstream sector, Edison stopped its attempts to bid for the Karish and Tanin fields.

  • We have also delayed our forecast for first gas from the Leviathan project to 2019.

  • The Palestinian Authorities have cancelled a USD1.2bn LOI...

BMI Industry View
7
Table: Headline Forecasts (Israel 2013-2019)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
11
Upstream Exploration
11
Table: Proven Oil and Gas Reserves (Israel 2013-2018)
11
Table: Proven Oil and Gas Reserves (Israel 2019-2024)
11
Upstream Projects
14
Table: Key Upstream Projects In Israel
14
Upstream Production - Oil
17
Table: Oil Production (Israel 2013-2018)
17
Table: Oil Production (Israel 2019-2024)
17
Upstream Production - Gas
20
Table: Gas Production (Israel 2013-2018)
20
Table: Gas Production (Israel 2019-2024)
20
Table: Israeli Offshore Gas Discoveries
22
Table: Tamar Project Gas Sales Agreements
24
Refining
26
Table: Refining Capacity and Refined Products Production (Israel 2013-2018)
26
Table: Refining Capacity and Refined Products Production (Israel 2019-2024)
26
Refined Fuel Consumption
29
Table: Refined Products Consumption* (Israel 2013-2018)
29
Table: Refined Products Consumption* (Israel 2019-2024)
29
Gas Consumption
31
Table: Gas Consumption (Israel 2013-2018)
31
Table: Gas Consumption (Israel 2019-2024)
31
Trade - Oil
33
Table: Crude Oil Net Exports (Israel 2013-2018)
33
Table: Crude Oil Net Exports (Israel 2019-2024)
33
Table: Refined Fuels Net Exports (Israel 2013-2018)
35
Table: Refined Fuels Net Exports (Israel 2019-2024)
35
Table: Total Net Oil Exports - Crude and Products (Israel 2013-2018)
36
Table: Total Net Oil Exports - Crude and Products (Israel 2019-2024)
37
Trade - Gas (Pipeline and LNG)
38
Table: Gas Net Exports (Israel 2013-2018)
38
Table: Gas Net Exports (Israel 2019-2024)
39
Industry Risk Reward Ratings
42
Middle East Oil & Gas Risk/Reward Index
42
Table: BMI's Middle East Oil & Gas Risk/Reward Index (RRI)
42
Index Resilient In Lower Price Environment
43
Table: Middle East Upstream Oil & Gas Risk/Reward Index
43
Limited Opportunities Downstream
46
Table: Middle East Downstream Oil & Gas Risk/Reward Index
46
Israel - Risk/Reward Ratings
49
Market Overview
51
Israel Energy Market Overview
51
Political Regime
51
Table: Israel Political Overview
51
Regulatory Structure
52
Fiscal Regime
53
Table: Key Petroleum Taxes
53
International Energy Relations
53
Oil And Gas Infrastructure
55
Oil Refineries
55
Table: Israel - Refineries
55
Oil Pipelines
55
Gas Storage
56
Competitive Landscape
59
Table: Key Players - Israeli Oil And Gas Sector
60
Table: Key Downstream Players
60
Company Profile
61
Noble Energy
61
Other Summaries
68
Regional Overview
75
Middle East Oil & Gas Regional Overview
75
Oil Production - Low Oil Prices Not Preventing Growth
75
Oil Consumption - Demand Continues Unabated
77
Refining Capacity - Outcompeting With Modernity And Scale
78
Gas Production - Pressure To Produce
79
Gas Consumption - Gas Switch Boosting Demand
81
Global Industry Overview
83
Oil Price Outlook
83
Table: BMI And Bloomberg Consensus Forecasts* WTI And Brent, Front Month - USD/bbl
83
Table: 2015-2016 - Fundamental Pressure On Oil Prices
84
Appendix
91
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
91
Table: Energy Price Forecasts, 2013-2018
91
Table: Energy Price Forecasts, 2019-2024 ( Global 2019-2024)
92
Middle East - Regional Appendix
93
Table: Oil Consumption - Historical Data & Forecasts, 2012-2019 ('000b/d)
93
Table: Oil Consumption - Long-Term Forecasts, 2016-2024 ('000b/d)
94
Table: Oil Production - Historical Data & Forecasts, 2012-2019 ('000b/d)
94
Table: Oil Production - Long-Term Forecasts, 2016-2024 ('000b/d)
95
Table: Refining Capacity - Historical Data & Forecasts, 2012-2019 ('000b/d)
95
Table: Refining Capacity - Long-Term Forecasts, 2016-2024 ('000b/d)
96
Table: Gas Consumption - Historical Data & Forecasts, 2012-2019 (bcm)
97
Table: Gas Consumption, 2016-2024 (bcm)
97
Table: Gas Production - Historical Data & Forecasts, 2012-2019 (bcm)
98
Table: Gas Production - Long-Term Forecasts, 2016-2024 (bcm)
98
Table: Net LNG Exports - Historical Data & Forecasts, 2012-2019 (bcm)
99
Table: Net LNG Exports - Long-Term Forecasts, 2016-2024 (bcm)
99
Israel - Total Hydrocarbons, 10-year Forecasts
100
Table: Total Hydrocarbons Production, Consumption and Net Exports (Israel 2013-2018)
100
Table: Total Hydrocarbons Production, Consumption and Net Exports (Israel 2019-2024)
100
Israel - Refined Products Breakdown, 10-year Forecasts
101
Table: Refined Petroleum Products, Production Breakdown (Israel 2013-2018)
101
Table: Refined Petroleum Products, Production Breakdown (Israel 2019-2024)
102
Table: Refined Petroleum Products, Consumption Breakdown (Israel 2013-2018)
103
Table: Refined Petroleum Products, Consumption Breakdown (Israel 2019-2024)
104
Table: Refined Petroleum Products, Net Exports Breakdown (Israel 2013-2018)
106
Table: Refined Petroleum Products, Net Exports Breakdown (Israel 2019-2024)
107
Glossary
108
Table: Glossary Of Terms
108
Methodology
110
Industry Forecast Methodology
110
Source
112
Risk/Reward Index Methodology
112
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
114
Table: Weighting
115

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

Key Benefits

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

secure
Benefit from discounts when you add multiple products to your basket
2 Products SAVE 10%
3 Products SAVE 15%
4 Products SAVE 20%
5 Products SAVE 25%
6 Products SAVE 30%
7 - 20 Products SAVE 35%
21 Products or more SAVE 40%