Trinidad & Tobago Oil & Gas Report

Published 29 June 2015

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

BMI View: Confirmation that authorities plan a new upstream bidding round by early 2016 reinforces the positive outlook for upstream investment, which could reverse the current downward trend forecast for both oil and gas. Persistent shortages of natural gas will continue to weigh on the sector and industry, though new supplies from the latter half will improve but not necessarily eliminate the shortfall.

Headline Forecasts (Trinidad & Tobago 2013-2019)
2013e 2014e 2015f 2016f 2017f 2018f 2019f
e/f = BMI estimate/forecast. Source: BMI, EIA
Crude, NGPL & other liquids prod, 000b/d 117.8 116.2 116.5 117.7 118.9 120.5 122.1
Dry natural gas production, bcm 42.8 43.2 43.9 44.2 44.6 45.1 46.0
Dry natural gas consumption, bcm 20.2 20.8 21.4 22.1 22.7 23.4 23.9
Refined products production & ethanol, 000b/d 109.5 110.1 110.6 111.2 111.8 112.3 112.9
Refined products consumption & ethanol, 000b/d 45.1 46.1 47.2 48.4 49.5 50.7 52.0

The main trends and developments in the Trinidad & Tobago (T&T) oil and gas sector are:

  • Energy officials in Trinidad and Tobago confirmed plans to open a competitive bidding round for offshore acreage in Q415 or Q116. According to media reports 10 blocks had been identified and acreage nominations were being accepted for shallow, average and deepwater blocks. The prospect of additional acreage on offer provides further upside risk to our outlook for both oil and gas reserves. However critical to determining the extent of the upside will be dependent upon the level of interest displayed by the industry.

  • Authorities have also expressed optimism about the country's oil potential. In April 2015 energy ministry official indicated heavy oil was a priority. If technical and financial challenges can be overcome, the upside could be significant, with official estimates indicating heavy oil resources...

BMI Industry View
7
Table: Headline Forecasts (Trinidad & Tobago 2013-2019)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
10
Upstream Exploration
10
Table: Proven Oil and Gas Reserves (Trinidad & Tobago 2013-2018)
10
Table: Proven Oil and Gas Reserves (Trinidad & Tobago 2019-2024)
10
Upstream Projects
13
Table: Trinidad & Tobago Major Upstream Projects
13
Upstream Production - Oil
15
Table: Oil Production (Trinidad & Tobago 2013-2018)
15
Table: Oil Production (Trinidad & Tobago 2019-2024)
15
Upstream Production - Gas
19
Table: Gas Production (Trinidad & Tobago 2013-2018)
19
Table: Gas Production (Trinidad & Tobago 2019-2024)
19
Refining
21
Table: Refining Capacity and Refined Products Production (Trinidad & Tobago 2013-2018)
22
Table: Refining Capacity and Refined Products Production (Trinidad & Tobago 2019-2024)
22
Refined Fuels Consumption
24
Table: Refined Products Consumption* (Trinidad & Tobago 2013-2018)
25
Table: Refined Products Consumption* (Trinidad & Tobago 2019-2024)
25
Gas Consumption
27
Table: Gas Consumption (Trinidad & Tobago 2013-2018)
27
Table: Gas Consumption (Trinidad & Tobago 2019-2024)
27
Trade - Oil
29
Table: Crude Oil Net Exports (Trinidad & Tobago 2013-2018)
29
Table: Crude Oil Net Exports (Trinidad & Tobago 2019-2024)
30
Table: Refined Fuels Net Exports (Trinidad & Tobago 2013-2018)
31
Table: Refined Fuels Net Exports (Trinidad & Tobago 2019-2024)
32
Table: Total Net Oil Exports - Crude and Products (Trinidad & Tobago 2013-2018)
33
Table: Total Net Oil Exports - Crude and Products (Trinidad & Tobago 2019-2024)
34
Trade - Gas (Pipeline and LNG)
34
Table: Gas Net Exports (Trinidad & Tobago 2013-2018)
34
Table: Gas Net Exports (Trinidad & Tobago 2019-2024)
35
Industry Risk Reward Ratings
38
Latin America - Risk/Reward Index
38
Table: Latin America Composite Risk/Reward Index, Out of 100
39
Upstream Risk/Reward Index: Reforms Prompting A Shake Up
41
Table: Latin America Upstream Risk/Reward Index, Out of 100
41
Downstream: Medium-Term Outlook Reinforces Current Dynamics
44
Table: Latin America Downstream Risk/Reward Index, Out of 100
46
Trinidad & Tobago - Risk/Reward Index
47
Market Overview
48
Trinidad & Tobago Energy Market Overview
48
Overview/State Role
48
Licensing And Regulation
48
Table: 2013/14 Budget Incentives
50
Government Policy
50
Licensing Rounds
51
Oil And Gas Infrastructure
54
Oil Refineries
54
Table: Refineries In Trinidad & Tobago
54
Service Stations
55
Oil Storage Facilities
55
Oil Terminals/ Ports/Pipelines
55
LNG Terminals
55
Table: LNG Terminals In Trinidad & Tobago
56
Gas Storage
57
Gas Pipelines
57
Competitive Landscape
58
Competitive Landscape Summary
58
Table: Key Domestic And Foreign Players
59
Table: Key Upstream Players
59
Table: Key Downstream Players
60
Company Profile
61
Petroleum Company Of T&T (Petrotrin)
61
National Gas Company Of Trinidad & Tobago (NGC)
66
Trinidad & Tobago National Petroleum Marketing Company (NP)
69
BPTT
72
BG Trinidad & Tobago
78
BHP Petroleum
84
Centrica
88
EOG Resources
91
Other Summaries
94
Regional Overview
101
Latin America Oil&Gas Regional Overview
101
Global Industry Overview
110
Oil Price Outlook
110
Table: BMI And Bloomberg Consensus Forecasts* WTI And Brent, Front Month - USD/bbl
110
Table: 2015-2016 - Fundamental Pressure On Oil Prices
111
Appendix
118
Latin America - Regional Appendix
118
Table: Oil Consumption - Historical Data & Forecasts, 2012-2019 ('000b/d)
118
Table: Oil Consumption - Long Term Forecasts, 2016-2024 ('000b/d)
119
Table: Oil Production - Historical Data & Forecasts, 2012-2019 ('000b/d)
120
Table: Oil Production - Long-Term Forecasts, 2016-2024 ('000b/d)
120
Table: Refining Capacity - Historical Data & Forecasts, 2012-2019 ('000b/d)
121
Table: Refining Capacity - Long-Term Forecasts, 2016-2024 ('000b/d)
122
Table: Gas Consumption - Historical Data & Forecasts, 2012-2019 (bcm)
122
Table: Gas Consumption - Long-Term Forecasts, 2016-2024 (bcm)
123
Table: Gas Production - Historical Data & Forecasts, 2012-2019 (bcm)
123
Table: Gas Production - Long-Term Forecasts, 2016-2024 (bcm)
124
Table: LNG Exports - Historical Data & Forecasts, 2012-2019 (bcm)
124
Table: LNG Exports - Long-Term Forecasts, 2016-2024 (bcm)
125
Trinidad & Tobago - Refined Products Breakdown, 10-year Forecasts
126
Table: Refined Petroleum Products, Production Breakdown (Trinidad & Tobago 2013-2018)
126
Table: Refined Petroleum Products, Production Breakdown (Trinidad & Tobago 2019-2024)
127
Table: Refined Petroleum Products, Consumption Breakdown (Trinidad & Tobago 2013-2018)
128
Table: Refined Petroleum Products, Consumption Breakdown (Trinidad & Tobago 2019-2024)
129
Table: Refined Petroleum Products, Net Exports Breakdown (Trinidad & Tobago 2013-2018)
130
Table: Refined Petroleum Products, Net Exports Breakdown (Trinidad & Tobago 2019-2024)
131
Table: LPG Production, Consumption and Net Exports (Trinidad & Tobago 2013-2018)
132
Table: LPG Production, Consumption and Net Exports (Trinidad & Tobago 2019-2024)
132
Trinidad & Tobago - Total Hydrocarbons, 10-year Forecasts
133
Table: Total Hydrocarbons Production, Consumption and Net Exports (Trinidad & Tobago 2013-2018)
133
Table: Total Hydrocarbons Production, Consumption and Net Exports (Trinidad & Tobago 2019-2024)
134
Glossary
135
Table: Glossary Of Terms
135
Methodology
137
Industry Forecast Methodology
137
Source
139
Risk/Reward Index Methodology
139
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
141
Table: Weighting
142

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

Key Benefits

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