Peru Oil & Gas Report

Published 09 March 2015

  • 112 pages
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$1,295.00
Peru Oil & Gas Report

BMI View: While the Peruvian government is trying to garner investor interest in the country's upstream potential, we believe that lack of below-ground prospectivity, a history of strong environmental opposition and a highly competitive regional market will be the key factors diminishing the attractiveness of the country's oil and gas industry over the coming years.

Headline Forecasts (Peru 2013-2019)
2013 2014e 2015f 2016f 2017f 2018f 2019f
Source: BMI/EIA
Crude, NGPL & other liquids prod, 000b/d 170.5 175.6 178.9 183.1 187.4 191.8 195.8
Refined products production & ethanol, 000b/d 200.0 202.0 203.0 203.0 203.0 213.1 221.7
Dry natural gas production, bcm 12.3 12.8 13.3 13.9 14.5 15.0 15.6
Dry natural gas consumption, bcm 12.4 13.2 14.0 14.8 15.7 16.6 17.5

The main developments in the Peruvian oil and gas sector:

  • In April 2015, Peru launched bidding for rights to develop the country's largest oil block 1-AB located in the Amazon after several months of negotiations with indigenous groups over pollution. The oil block has been operated by Argentine energy company Pluspetrol since 2001, but its contract ends in August 2015. The winning bid will combine the most favourable financial incentives and the largest number of planned exploratory and development wells. The winning bid will be announced on July 15 2015.

  • In April 2015, US-based oil and gas firm BPZ Energy failed to encounter commercial volumes of oil at its Albacora A-22D well on block Z-1 offshore Peru. The well was drilled to a measured depth of 4,184.9 metres. The well tested water with no oil shows from the three targeted zones, which are productive in the main part of the field.

  • State-owned Petroleos del Peru ( PetroPeru) has shelved plans to sell shares on the local stock market in 2015, reports Reuters, citing company President German Velasquez. In...

Table of Contents

BMI Industry View
7
Table: Headline Forecasts (Peru 2013-2019)
7
SWOT
9
Industry Forecast
11
Upstream Exploration
11
Table: Proven Oil and Gas Reserves (Peru 2013-2018)
11
Table: Proven Oil and Gas Reserves (Peru 2019-2024)
11
Upstream Projects
15
Table: Peru - Upstream Projects
15
Upstream Production - Oil
16
Table: Oil Production (Peru 2013-2018)
16
Table: Oil Production (Peru 2019-2024)
16
Upstream Production - Gas
18
Table: Gas Production (Peru 2013-2018)
18
Table: Gas Production (Peru 2019-2024)
18
Refining
21
Table: Refining Capacity and Refined Products Production (Peru 2013-2018)
21
Table: Refining Capacity and Refined Products Production (Peru 2019-2024)
21
Refined Fuels Consumption
23
Table: Refined Products Consumption* (Peru 2013-2018)
23
Table: Refined Products Consumption* (Peru 2019-2024)
23
Gas Consumption
25
Table: Gas Consumption (Peru 2013-2018)
25
Table: Gas Consumption (Peru 2019-2024)
25
Trade - Oil
27
Table: Crude Oil Net Exports (Peru 2013-2018)
27
Table: Crude Oil Net Exports (Peru 2019-2024)
27
Table: Refined Fuels Net Exports (Peru 2013-2018)
28
Table: Refined Fuels Net Exports (Peru 2019-2024)
29
Table: Total Net Oil Exports - Crude and Products (Peru 2013-2018)
30
Table: Total Net Oil Exports - Crude and Products (Peru 2019-2024)
31
Trade - Gas (Pipeline & LNG)
31
Table: Gas Net Exports (Peru 2013-2018)
31
Table: Gas Net Exports (Peru 2019-2024)
32
Industry Risk Reward Ratings
34
Latin America - Risk/Reward Index
34
Table: Latin America Composite Risk/Reward Index, Out of 100
34
Upstream Risk/Reward Index: Reforms Prompting A Shake Up
36
Table: Latin America Upstream Risk/Reward Index, Out of 100
37
Downstream: Medium-Term Outlook Reinforces Current Dynamics
39
Table: Latin America Downstream Risk/Reward Index, Out of 100
42
Peru - Risk/Reward Index
42
Upstream Index - Rewards
42
Upstream Index - Risks
43
Downstream Index - Overview
43
Market Overview
44
Peru Energy Market Overview
44
Overview/State Role
44
Licensing And Regulation
44
Table: Latin American Regulatory Regimes
45
Government Policy
46
Licensing Rounds
48
Oil And Gas Infrastructure
49
Oil Refineries
49
Table: Refineries in Peru
49
Pipelines
50
LNG Terminals
53
Competitive Landscape
54
Competitive Landscape Summary
54
Table: Key Players In Peru's Oil & Gas Sector
55
Company Profile
56
Petroper-
56
Repsol
59
Other Summaries
63
Regional Overview
71
Latin America Oil&Gas Regional Overview
71
Global Industry Overview
79
Global Industry Overview - Five Themes For 2015: Oil & Gas
79
Table: LNG Export Terminals At Pre-FID Stage
84
Appendix
86
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
86
Table: Energy Price Forecasts (Global 2013-2018)
86
Table: Energy Price Forecasts (Global 2019-2024)
87
Latin America - Regional Appendix
88
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
88
Table: Oil Consumption - Long Term Forecasts, 2015-2023 ('000b/d)
89
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
90
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
90
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
91
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
92
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
92
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm)
93
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
93
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
94
Table: LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
94
Table: LNG Exports - Long-Term Forecasts, 2015-2023 (bcm)
95
Peru - Total Hydrocarbons, 10-year Forecasts
96
Table: Total Hydrocarbons Production, Consumption and Net Exports (Peru 2013-2018)
96
Table: Total Hydrocarbons Production, Consumption and Net Exports (Peru 2019-2024)
96
Peru - Refined Products Breakdown, 10-year Forecasts
97
Table: Refined Petroleum Products, Production Breakdown (Peru 2013-2018)
97
Table: Refined Petroleum Products, Production Breakdown (Peru 2019-2024)
98
Table: Refined Petroleum Products, Consumption Breakdown (Peru 2013-2018)
99
Table: Refined Petroleum Products, Consumption Breakdown (Peru 2019-2024)
100
Table: Refined Petroleum Products, Net Exports Breakdown (Peru 2013-2018)
101
Table: Refined Petroleum Products, Net Exports Breakdown (Peru 2019-2024)
102
Table: LPG Production, Consumption and Net Exports (Peru 2013-2018)
103
Table: LPG Production, Consumption and Net Exports (Peru 2019-2024)
103
Glossary
105
Table: Glossary Of Terms
105
Methodology
107
Industry Forecast Methodology
107
Source
109
Risk/Reward Index Methodology
109
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
111
Table: Weighting
112

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

Key Benefits

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