United Arab Emirates Oil & Gas Report

Published 20 January 2015

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

BMI View : As oil prices have significantly decreased since last quarter, the UAE's economic diversification efforts have become that much more important to the country's long-term economic health. Indeed , the future success within the UAE's oil and gas industry will be inextricably linked to these e conomic diversification efforts . The most consequential economic success that the count ry has experienced in the last five years has been skilfully recreating the conditions of a stable investment climate, which the immediate after-effects of the global financial crisis negatively impacted. With global oil prices now lessened as a result of continued hampered recovery in major global markets and the increase in global oil supply, the UAE needs to balance investment and growth in the non-hydrocarbon sectors while also maintaining and upgrading its domestic production capacity.

2014 brought the UAE that closer to its target of increasing oil production to 3.6mn barrels per day (b/d) by 2019. However, as a recent economic studies have argued, investments and focus on the non-hydrocarbon sectors, chiefly the non-oil sector, will be critical to the UAE's short-term growth, particularly as global supply, by reason of unconventional production, is slated to moderately increase in the future. In looking at the non-oil foreign trade for the UAE, the country's efforts are starting to pay off, as non-oil trade reached Dh256bn in 2014 (USD69.7bn).

The next two to three years will be critical for the UAE to synthesise the strong revenue it obtained from the past five years of high prices, which at the time of writing had significantly decreased, in order to diversify its economy. BMI expects steady growth in oil and gas production over the course of our forecast period. Greater attempts at increasing energy efficiency, waste reduction efforts, and increasing natural gas production will be critical to limiting the UAE's import requirement as consumption continues...

Table of Contents

BMI Industry View
7
Table: Headline Forecasts (United Arab Emirates 2012-2018)
7
SWOT
10
Industry Forecast
12
Upstream Exploration
12
Table: Proven Oil and Gas Reserves (United Arab Emirates 2012-2017)
12
Table: Proven Oil and Gas Reserves (United Arab Emirates 2018-2023)
12
Upstream Projects
14
Table: United Arab Emirates Major Upstream Projects
14
Upstream Production - Oil
16
Table: Oil Production (United Arab Emirates 2012-2017)
16
Table: Oil Production (United Arab Emirates 2018-2023)
16
Upstream Production - Gas
20
Table: Gas Production (United Arab Emirates 2012-2017)
21
Table: Gas Production (United Arab Emirates 2018-2023)
21
Refining
25
Table: Refining Capacity and Refined Products Production (United Arab Emirates 2012-2017)
25
Table: Refining Capacity and Refined Products Production (United Arab Emirates 2018-2023)
25
Refined Fuels Consumption
28
Table: Refined Products Consumption* (United Arab Emirates 2012-2017)
28
Table: Refined Products Consumption* (United Arab Emirates 2018-2023)
28
Gas Consumption
29
Table: Gas Consumption (United Arab Emirates 2012-2017)
29
Table: Gas Consumption (United Arab Emirates 2018-2023)
30
Trade - Oil
32
Table: Crude Oil Net Exports (United Arab Emirates 2012-2017)
32
Table: Crude Oil Net Exports (United Arab Emirates 2018-2023)
33
Table: Refined Fuels Net Exports (United Arab Emirates 2012-2017)
34
Table: Refined Fuels Net Exports (United Arab Emirates 2018-2023)
34
Table: Total Net Oil Exports - Crude and Products (United Arab Emirates 2012-2017)
36
Table: Total Net Oil Exports - Crude and Products (United Arab Emirates 2018-2023)
36
Trade - Gas (Pipeline & LNG)
36
Table: Gas Net Exports (United Arab Emirates 2012-2017)
37
Table: Gas Net Exports (United Arab Emirates 2018-2023)
38
Industry Risk/Reward Ratings
41
UAE - Risk/Reward Ratings
41
UAE Upstream Rating
41
UAE Downstream Rating
41
Middle East - Risk/Reward Ratings
42
Table: BMI's Middle East Oil & Gas Risk/Reward Ratings (RRRs)
42
Outperforming The World Upstream
43
Table: Middle East Upstream Oil & Gas Risk/Reward Rating
43
Limited Opportunities Downstream
47
Table: Middle East Downstream Oil & Gas Risk/Reward Rating
47
Market Overview
49
United Arab Emirates Energy Market Overview
49
Overview/State Role
50
Licensing And Regulation
50
Government Policy
53
Fuel Prices
53
International Energy Relations
54
Oil And Gas Infrastructure
57
Oil Refineries
57
Table: Refineries In The UAE
57
Oil Pipelines
59
Table: UAE Export Terminals
60
LNG
60
Table: UAE LNG
62
Gas Pipelines
62
Competitive Landscape
64
Competitive Landscape Summary
64
Table: Key Domestic And Foreign Companies In The UAE's Oil & Gas Sector
65
Company Profile
66
Abu Dhabi National Oil Company (ADNOC)
66
Dolphin Energy
71
Emirates General Petroleum Corporation (Emarat)
74
Emirates National Oil Company (ENOC)
77
ExxonMobil
81
BP
83
Total
85
Royal Dutch Shell
87
Other Summaries
89
Regional Overview
95
Industry Forecast
95
Middle East Oil Production - Strong Growth But Risks Remain
95
Middle East Oil Consumption - Subsidies Fuelling Demand
97
Middle East Refining Capacity - A Bullish Outlook
98
Middle East Gas Production - A Growing Domestic Priority
99
Middle East Gas Consumption - Demand Growth Outstripping Production
100
Global Industry Overview
102
Global Energy Market Overview
102
Appendix
108
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
108
Table: Energy Price Forecasts, 2012-2017
108
Table: Energy Price Forecasts, 2018-2023
109
Middle East - Regional Appendix
111
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
111
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
111
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
112
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
113
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
113
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
114
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
114
Table: Gas Consumption, 2015-2023 (bcm)
115
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
115
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
116
Table: Net LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
116
Table: Net LNG Exports - Long-Term Forecasts, 2015-2023 (bcm)
117
United Arab Emirates - Total Hydrocarbons, 10-year Forecasts
118
Table: Total Hydrocarbons Production, Consumption and Net Exports (United Arab Emirates 2012-2017)
118
Table: Total Hydrocarbons Production, Consumption and Net Exports (United Arab Emirates 2018-2023)
118
Industry Forecast
119
Middle East Oil Production - Strong Growth But Risks Remain
119
Middle East Oil Consumption - Subsidies Fuelling Demand
121
Middle East Refining Capacity - A Bullish Outlook
122
Middle East Gas Production - A Growing Domestic Priority
123
Middle East Gas Consumption - Demand Growth Outstripping Production
124
Glossary
126
Table: Glossary Of Terms
126
Methodology
128
Industry Forecast Methodology
128
Source
130
Risk/Reward Ratings Methodology
130
Table: Bmi's Oil & Gas Upstream Risk/Reward Ratings
132
Table: Weighting
133

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

Key Benefits

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

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