Pakistan 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.

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  • Get a full view of the competitive landscape to assess your market position
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Pakistan Oil & Gas Report
Product Price
$1,295.00

BMI View: Low oil prices, upstream spending cuts and natural declines combine to paint a bleak near-term upstream outlook for Pakistan, though its strong pipeline of discoveries and exploration plays point to plenty of upside once prices begin to rebound more significantly. The country will remain reliant on crude oil, refined fuels and natural gas imports to quench rising domestic demand. LNG imports are set to experience exponential growth, as influx of additional gas supplies allow demand to flourish in the country's most gas-intensive sectors, such as power, fertiliser and textile sectors .

Headline Forecasts (Pakistan 2014-2020)
2014 2015 2016f 2017f 2018f 2019f 2020f
f = BMI forecast. Source: National Sources, Bloomberg, BMI
Crude, NGPL & other liquids prod, 000b/d 97.8 94.1 90.6 89.0 87.5 86.0 87.6
Refined products production, 000b/d 221.9 241.5 229.4 225.1 220.9 218.2 215.5
Refined products consumption & ethanol, 000b/d 458.0 506.0 526.2 552.6 569.1 586.2 603.8
Dry natural gas production, bcm 39.0 39.3 39.7 39.3 38.9 38.5 38.1
Dry natural gas consumption, bcm 39.0 40.1 41.7 43.4 44.3 45.1 46.0
Brent, USD/bbl 99.50 53.60 45.50 55.00 68.00 65.00 67.00

Latest Updates And Key Forecasts

  • Pakistan is set to become an increasingly larger importer of LNG, as it progressively expands its regasification capacity. Development of the second standalone LNG terminal remains embroiled in a corruption investigation, though the government has announced plans to construct a further three FRSUs to facilitate additional imports.

  • The indefinite closure of Byco Petroleum's 120,000b/d Oil Refining Complex II since October 2015 means that it is more reliant on refined fuels imports than ever. Underutilisation and underinvestment will remain enduring themes in the mature Pakistani downstream sector.

  • The healthy stream of discoveries and active exploration plays in Pakistan's portfolio pose significant upside risk to both long-term crude oil and natural gas production.

BMI Industry View
7
Table: Headline Forecasts (Pakistan 2014-2020)
7
Latest Updates And Key Forecasts
7
SWOT
8
Oil & Gas SWOT
8
Industry Forecast
9
Upstream Exploration
9
Latest Updates
9
Structural Trends
9
Table: Proven Oil and Gas Reserves (2014-2019)
11
Table: Proven Oil and Gas Reserves (Pakistan 2020-2025)
11
Upstream Projects
13
Table: Pakistan - Key Upstream Projects
13
Upstream Production - Oil
17
Latest Updates
17
Structural Trends
17
Table: Oil Production (Pakistan 2014-2019)
18
Table: Oil Production (Pakistan 2020-2025)
18
Upstream Production - Gas
18
Latest Updates
18
Structural Trends
18
Table: Gas Production (Pakistan 2014-2019)
19
Table: Gas Production (Pakistan 2020-2025)
20
Refining
20
Latest Updates
20
Structural Trends
20
Table: Refining Capacity and Refined Products Production (Pakistan 2014-2019)
22
Table: Refining Capacity and Refined Products Production (Pakistan 2020-2025)
22
Refined Fuels Consumption
23
Latest Updates
23
Structural Trends
23
Table: Refined Products Consumption* (Pakistan 2014-2019)
24
Table: Refined Products Consumption* (Pakistan 2020-2025)
24
Gas Consumption
25
Latest Updates
25
Structural Trends
25
Table: Gas Consumption (Pakistan 2014-2019)
27
Table: Gas Consumption (Pakistan 2020-2025)
28
Trade - Oil
28
Crude Oil Trade Forecasts
28
Latest Updates
28
Structural Trends
28
Table: Crude Oil Net Exports (Pakistan 2014-2020)
30
Table: Crude Oil Net Exports (Pakistan 2020-2025)
30
Fuels Trade Forecast
30
Latest Updates
30
Structural Trends
30
Table: Refined Fuels Net Exports (Pakistan 2014-2019)
31
Table: Refined Fuels Net Exports (Pakistan 2020-2025)
32
Trade - Gas (Pipeline And LNG)
32
Latest Updates
32
Structural Trends
32
Table: Gas Net Exports (Pakistan 2014-2019)
35
Table: Gas Net Exports (Pakistan 2020-2025)
35
Industry Risk Reward Index
37
Asia - Risk/Reward Index
37
Table: Asia's Oil & Gas Risk/Reward Index
37
Table: Asia: Upstream Risk/Reward Index
40
Table: Asia: Downstream Risk/Reward Index
42
Pakistan Risk/Reward Index
44
Market Overview
46
Energy Market Overview
46
Regulatory Structure
46
Fiscal Regime
47
Table: Pakistan - Upstream Tax Regime
47
Licensing Regime
47
Table: Pakistan - Contracts And Licensing Regime
47
Licensing Rounds
47
Oil And Gas Infrastructure
48
Oil Refineries
48
Table: Oil Refineries In Pakistan
48
Oil Storage Facilities
48
Oil Terminals/Ports
48
Oil Pipelines
49
LNG Terminals
49
Table: LNG Terminals In Pakistan
49
Competitive Landscape
52
Regional Overview
54
Asia - Positive Gas Output Growth In Conflict With Bearish Oil Outlook
54
Glossary
61
Table: Glossary Of Terms
61
Methodology
63
Industry Forecast Methodology
63
Source
65
Risk/Reward Index Methodology
65
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
67
Table: Weighting
68

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

Key Benefits

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