Denmark Oil and Gas Report Q3 2016

Date: June 29, 2016
Pages: 79
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: Development delays at the Hejre field and the accompanying forecast change will see Denmark become a crude net importer throughout the forecast period. While its status as a gas net exporter is maintained at the moment, we highlight strong downside risk to gas production and exports after Maersk Oil expressed a potential interest in closing the Tyra East and Tyra West fields by 2018.

Latest Updates And Key Forecasts
  • The seventh licensing round was launched in April 2014, and licenses were finally awarded in April 2016. Sixteen oil and gas licenses were awarded to 12 companies. Nevertheless, oil and gas reserves are depleting for this small mature North Sea producer and we do not expect the country to significantly reverse this trend. The strong decline in oil prices and our expectation of a lower price environment over the coming years temper this upside risk.
  • We have downgraded Denmark's oil production forecast from 2017 onwards on the back of new delays to the Hejre field development. While we temporarily have the field starting up in 2018 as opposed to our previous forecast of 2017, we highlight downside risk to this new forecast given no new development option has been identified at the time of writing.
  • This quarter, we have changed Denmark's status from a net crude oil exporter to importer throughout the entire forecast period. This is due to our forecast for high refining utilisation rates over the coming years, combined with our downgrade in oil production forecast on the back of the Hejre field development delays.
  • On the opposite side, we expect the country will become a net exporter of refined fuels throughout the forecast period. This represents a change this quarter from our previous forecast for net imports.
BMI Industry View
  Table: Headline Forecasts (Denmark 2014-2020)
Latest Updates And Key Forecasts
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
  Table: Denmark Major Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Denmark 2014-2019)
  Table: Oil Production (Denmark 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Denmark 2014-2019)
  Table: Gas Production (Denmark 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Denmark 2014-2019)
  Table: Refining Capacity and Refined Products Production (Denmark 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption (Denmark 2014-2019)
  Table: Refined Products Consumption (Denmark 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Denmark 2014-2019)
  Table: Gas Consumption (Denmark 2020-2025)
Trade - Oil
Crude Oil Trade Forecasts
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Denmark 2014-2020)
  Table: Crude Oil Net Exports (Denmark 2020-2025)
Refined Fuels Forecast
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Denmark 2014-2019)
  Table: Refined Fuels Net Exports (Denmark 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Denmark 2014-2019)
  Table: Gas Net Exports (Denmark 2020-2025)
Industry Risk Reward Index
Denmark - Risk/Reward Index
Upstream Index
Downstream Index
North America And Western Europe Oil & Gas Risk/Reward Index
  Table: North America & Western Europe Oil & Gas Risk/Reward Index
Upstream Rankings: North America To Maintain The Lead
North America: US Unconventional Production Leads Decline
Western Europe Languishes In Maturing Assets
  Table: North America & Western Europe Upstream Risk/Reward Index, out of
Downstream Rankings: US Widens Its Lead
  Table: North America & Western Europe Downstream Risk/Reward Index
Market Overview
Denmark Energy Market Overview
Fiscal Regime
  Table: Denmark - Upstream Tax Regime
Licensing Regime
Licensing Rounds
Oil & Gas Infrastructure
Oil Refineries
  Table: Refineries In Denmark
Service Stations
Oil Storage Facilities
Oil Pipelines/Terminals
LNG Terminals
Gas Storage Facilities
Gas Pipelines
Competitive Landscape
  Table: Key Players - Danish Oil And Gas Sector
  Table: Key Upstream Players
  Table: Key Downstream Players
Company Profile
DONG Energy
Latest Updates
  Table: Major Upstream Assets In Denmark
  Table: Key Financial Data (DKKmn)
Regional Overview
North America And Western Europe Oil And Gas Regional Overview
  Table: North America - Key Regional Indicators, 2014-2025
  Table: Western Europe - Key Regional Indicators, 2014-2025
  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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