Italy Oil & Gas Report

Published 12 June 2015

  • 134 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Italy Oil & Gas Report

BMI View: Italy's oil and gas sector will continue suffering from the gradual depletion of its hydrocarbon reserves as well as the rapid downsizing of the country's ailing refining sector. While an active exploration scene and a gradually improving regulatory environment are positive signs, we believe these improvements will take some years to garner more substantial industry changes.

Headline Forecasts (Italy 2013-2019)
2013 2014e 2015f 2016f 2017f 2018f 2019f
e/f = BMI estimate/forecast. Source: EIA, BMI
Crude, NGPL & other liquids prod, 000b/d 112.8 115.0 114.2 112.4 109.6 117.3 145.6
Refined products production & ethanol, 000b/d 1,742.6 1,568.4 1,615.4 1,518.5 1,457.8 1,457.8 1,459.2
Dry natural gas production, bcm 8.4 8.1 7.9 7.6 7.4 7.2 7.0
Dry natural gas consumption, bcm 70.1 70.4 71.1 71.8 72.6 73.4 74.1

The main developments in Italy's oil and gas sector:

  • In April 2015, Sound Oil received environmental approval from the government of Italy's Veneto region to start production from its Nervesa gas field in northern Italy. The Italian Ministry of Economic Development could award the Nervesa production concession shortly, after approval from the Environmental Impact Assessment (EIA).

  • In March 2015, Royal Dutch Shell's wholly owned subsidiary Shell Itali a E&P farmed-in an 80% interest and operatorship of the Cascina Alberto permit onshore north west Italy from AIM-listed Northern Petroleum. Shell will pay USD850,000 in cash on completion of the transaction. Shell will continue with the North Petroleum exploration programme, which includes the acquisition of any new seismic data until the seismic costs reach USD4mn and exploration of the well until costs reach USD50mn.

  • According to reports in February 2015, Italy's Eni registered a 16% fall in net profit to USD4.2bn in 2014, although production...

Table of Contents

BMI Industry View
7
Table: Headline Forecasts (Italy 2013-2019)
7
SWOT
9
Industry Forecast
11
Upstream Exploration
11
Table: Proven Oil and Gas Reserves (Italy 2013-2018)
11
Upstream Projects
15
Table: Upstream Projects
15
Upstream Production - Oil
16
Table: Oil Production (Italy 2013-2018)
16
Table: Oil Production (Italy 2019-2024)
17
Upstream Production - Gas
18
Table: Gas Production (Italy 2013-2018)
18
Table: Gas Production (Italy 2019-2024)
18
Refining
21
Table: Refining Capacity and Refined Products Production (Italy 2013-2018)
21
Table: Refining Capacity and Refined Products Production (Italy 2019-2024)
21
Refined Fuels Consumption
24
Table: Refined Products Consumption* (Italy 2013-2018)
24
Table: Refined Products Consumption* (Italy 2019-2024)
24
Gas Consumption
26
Table: Gas Consumption (Italy 2019-2024)
26
Trade - Oil
27
Table: Crude Oil Net Exports (Italy 2013-2018)
28
Table: Crude Oil Net Exports (Italy 2019-2024)
28
Table: Refined Fuels Net Exports (Italy 2013-2018)
30
Table: Refined Fuels Net Exports (Italy 2019-2024)
30
Table: Total Net Oil Exports - Crude and Products (Italy 2013-2018)
31
Table: Total Net Oil Exports - Crude and Products (Italy 2019-2024)
32
Trade - Gas (Pipeline & LNG)
32
Table: Gas Net Exports (Italy 2013-2018)
32
Table: Gas Net Exports (Italy 2019-2024)
33
Industry Risk Reward Ratings
37
North America And Western Europe Oil & Gas Risk/Reward Index
37
Table: North America & Western Europe Oil & Gas Risk/Reward Index
38
US More Resilient Than Canada To Oil Price Fall
38
Table: Oil & Gas Upstream Risk/Reward Index
39
Western Europe Languishes Without Shale Outlook
41
Downstream: US Comes Out Top
43
Table: Oil & Gas Downstream Risk/Reward Index
43
Italy - Risk/Reward Index
46
Italy Upstream Index
46
Italy Downstream Index
47
Market Overview
48
Italy Energy Market Overview
48
International Relations
49
Oil And Gas Infrastructure
50
Oil Refineries
50
Table: Refineries In Italy
51
Service Stations
53
Oil Storage Facilities
53
Oil Terminals/Ports
53
LNG Terminals
53
Table: Italy - LNG Terminals
56
Gas Storage Facilities
56
Gas Pipelines
56
Competitive Landscape
61
Competitive Landscape Summary
61
Company Profile
63
Eni
63
ERG
72
Royal Dutch Shell
76
Po Valley Energy
80
Other Summaries
85
Regional Overview
90
North America And Western Europe Oil & Gas Regional Overview
90
Global Industry Overview
101
Oil Price Outlook
101
Table: BMI And Bloomberg Consensus Forecasts* WTI And Brent, Front Month - USD/bbl
101
Table: 2015-2016 - Fundamental Pressure On Oil Prices
102
Appendix
109
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
109
Table: Energy Price Forecasts, 2013-2018
109
Table: Energy Price Forecasts, 2019-2024 ( Global 2019-2024)
110
Developed Europe - Regional Appendix
111
Table: Oil Consumption - Historical Data And Forecasts, 2012-2019 ('000b/d)
111
Table: Oil Consumption - Long-Term Forecasts, 2016-2024 ('000b/d)
112
Table: Oil Production - Historical Data And Forecasts, 2012-2019 ('000b/d)
112
Table: Oil Production - Long-Term Forecasts, 2016-2024 ('000b/d)
113
Table: Refinery Capacity - Historical Data And Forecasts, 2012-2019 ('000b/d)
113
Table: Refining Capacity - Long-Term Forecasts, 2016-2024 ('000b/d)
114
Table: Gas Consumption - Historical Data And Forecasts, 2012-2019 (bcm)
114
Table: Gas Consumption - Long-Term Forecasts, 2016-2024 (bcm)
115
Table: Gas Production - Historical Data And Forecasts, 2012-2019 (bcm)
115
Table: Gas Production - Long-Term Forecasts, 2016-2024 (bcm)
116
Table: LNG Gas Imports (Exports) - Historical Data And Forecasts, 2012-2019 (bcm)
116
Table: LNG Gas Imports (Exports) - Long-Term Forecasts, 2016-2024 (bcm)
117
Italy - Total Hydrocarbons, 10-Year Forecasts
118
Table: Total Hydrocarbons Production, Consumption and Net Exports (Italy 2013-2018)
118
Table: Total Hydrocarbons Production, Consumption and Net Exports (Italy 2019-2024)
118
Italy - Refined Products Breakdown, 10-Year Forecasts
120
Table: Refined Petroleum Products, Production Breakdown (Italy 2013-2018)
120
Table: Refined Petroleum Products, Production Breakdown (Italy 2019-2024)
121
Table: Refined Petroleum Products, Consumption Breakdown (Italy 2013-2018)
122
Table: Refined Petroleum Products, Consumption Breakdown (Italy 2019-2024)
123
Table: Refined Petroleum Products, Net Exports Breakdown (Italy 2013-2018)
124
Table: Refined Petroleum Products, Net Exports Breakdown (Italy 2019-2024)
125
Glossary
127
Table: Glossary Of Terms
127
Methodology
129
Industry Forecast Methodology
129
Source
131
Risk/Reward Index Methodology
131
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
133
Table: Weighting
134

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

Key Benefits

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

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc