Brazil Oil and Gas Report Q1 2016

Date: December 2, 2015
Pages: 169
US$ 1,295.00
Report type: Strategic Report
Delivery: Download

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Includes 3 FREE quarterly updates

BMI View: Brazil's vast pre-salt reserves suggest substantial growth potential over the long term, underpinning our bullish upstream view that crude, natural gas, and other liquids output will rise throughout our forecast period. However, production growth will be limited by lower oil prices and decreased capex funds. As such, we maintain a relatively modest outlook, reflecting our view that the above-ground environment remains a considerable obstacle to the upstream and downstream segments due to weakening project economics, waning investor confidence, and a burdensome regulatory environment.

The key trends and developments in the Brazilian oil and gas sector are:
  • Brazil's 13th licensing round on October 7 was an outright disappointment, with only 37 of 266 blocks awarded. This was the worst turnout of any round over the past decade as existing international market participants including Shell, Total, and Statoil refrained from participating, supporting our more modest reserve growth outlook.
  • On October 5, Petrobras announced a USD11bn reduction to its Business and Management Plan (BMP) impacting spending over 2015 and 2016. In the wake of continued above-ground challenges, we expect the national oil company (NOC) will be forced to reassess its unchanged production targets over the next several quarters.
BMI Industry View
  Table: Headline Forecasts (Brazil 2013-2019)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
  Table: Breakdown Of Onshore Reserves
  Table: Breakdown of Offshore Reserves
Upstream Projects
  Table: Brazil Key Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: List Of Recently Completed FPSO Conversion/Construction Projects (Non-Exhaustive)
  Table: Oil Production (Brazil 2013-2018)
  Table: Oil Production (Brazil 2019-2024)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Brazil 2013-2018)
  Table: Gas Production (Brazil 2019-2024)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Brazil 2013-2018)
  Table: Refining Capacity and Refined Products Production (Brazil 2019-2024)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption (Brazil 2013-2018)
  Table: Refined Products Consumption (Brazil 2019-2024)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Brazil 2013-2018)
  Table: Gas Consumption (Brazil 2019-2024)
Trade - Oil
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Brazil 2013-2019)
  Table: Crude Oil Net Exports (Brazil 2019-2024)
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Brazil 2013-2018)
  Table: Refined Fuels Net Exports (Brazil 2019-2024)
Trade - Gas (Pipeline and LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Brazil 2013-2018)
  Table: Gas Net Exports (Brazil 2019-2024)
Industry Risk Reward Ratings
Latin America - Risk/Reward Index
  Table: Latin America Composite Risk/Reward Index, Out of 100
Upstream RRI: Few Shifts, But Changes Loom
  Table: Latin America Upstream Risk/Reward Index, Out of 100
Downstream RRI: Medium-Term Outlook Reinforces Current Dynamics
  Table: Latin America Downstream Risk/Reward Index, Out of 100
Brazil - Risk/Reward Index
Market Overview
Brazil Energy Market Overview
Overview/State Role
Licensing And Regulation
Licensing Rounds
International Energy Relations
Oil And Gas Infrastructure
Oil Refineries
  Table: Refineries In Brazil
Service Stations
Oil Terminals/Ports
Oil Pipelines
LNG Terminals
Gas Pipelines
Competitive Landscape
  Table: Key Players In Brazil's Oil And Gas Sector
Company Profile
Petroleo Brasileiro
Shell Brasil
Esso Brasileira de Petroleo
Chevron Brasil
Ultrapar Participacoes (Grupo Ultra)
BG do Brasil
BP Brasil
Statoil do Brasil
Oleo & Gas Participacoes/OGX Brazil
Other Summaries
Regional Overview
Latin America Overview
  Table: Latin America Oil & Gas Production, Refining Capacity & Trade
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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