Hungary Oil and Gas Report Q3 2016

Date: July 13, 2016
Pages: 73
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: With small and declining hydrocarbon reserves, no exploration or field development activities taking place and a ban on hydraulic fracking, Hungary holds a very weak position in the upstream sector. While the country boasts an efficient downstream sector, rapidly rising domestic fuels consumption will turn Hungary into a net importer of refined products in 2018.

Latest Updates And Structural Trends
  • According to reports in Natural Gas Europe, UK-listed JKX Oil and Gas will increase its focus on gas prospects in Hungary and Slovakia in 2016, after the company faced disappointing results in Ukraine during 2015. JKX Oil and Gas has 100% interest in six production licences in Hungary.
  • As of April 2016, Hungary and Croatia were negotiating bidirectional flows of natural gas between the two countries (ICES). Hungary expects to import natural gas from Croatia after the completion of Krk LNG project on Croatia's Adriatic shore.
  • Hungary has very small proven oil and gas reserves and, currently, there are no exploration activities taking place in the country. We don't expect our bearish forecasts to change in the foreseeable future as the government has imposed a ban on hydraulic fracking.
  • Limited oil reserves and no exploration or development activities will push Hungary's already small oil production even lower. Production volumes will contract from 19,750b/d in 2015 to around 14,650b/d in 2025.
  • Hungary produced 72,450b/d of refined fuels in 2015. Diesel and motor gasoline accounted for around 60% of the output. Continued investment in the country's refining infrastructure will sustain largely stable output of refined products across the forecast period to 2025.
  • Domestic consumption of refined products will increase steadily throughout our forecast period on the back of strong macro fundamentals, especially on the manufacturing and private consumption side. Overall demand will grow from 152,900b/d in 2056 to 216,400b/d in 2025.
BMI Industry View
  Table: Headline Forecasts (Hungary 2014-2020)
Latest Updates And Structural Trends
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
  Table: Proven Oil and Gas Reserves (Hungary 2014-2019)
  Table: Proven Oil and Gas Reserves (Hungary 2020-2025)
Upstream Projects
  Table: Hungary - Main Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Hungary 2014-2019)
  Table: Oil Production (Hungary 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Hungary 2014-2019)
  Table: Gas Production (Hungary 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Hungary 2014-2019)
  Table: Refining Capacity and Refined Products Production (Hungary 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Hungary 2014-2019)
  Table: Refined Products Consumption* (Hungary 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Hungary 2014-2019)
  Table: Gas Consumption (Hungary 2020-2025)
Trade - Oil
Crude Oil
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Hungary 2014-2020)
  Table: Crude Oil Net Exports (Hungary 2020-2025)
Refined Products
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Hungary 2014-2019)
  Table: Refined Fuels Net Exports (Hungary 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Hungary 2014-2019)
  Table: Gas Net Exports (Hungary 2020-2025)
Industry Risk Reward Index
Central And Eastern Europe Oil & Gas Risk/Reward Index
  Table: CEE: High Risk, Low Reward
  Table: CEE Upstream, Downstream And Overall Risk/Reward Index
Upstream: China Still The Target Market
  Table: CEE Upstream Risk/Reward Index
Downstream: Turkish STAR Only Bright Spot In Weak Market
  Table: CEE Downstream Risk/Reward Index
Hungary - Risk/Reward Index
Upstream Index - Overview
Upstream Index - Rewards
Upstream Index - Risks
Downstream Index - Overview
Market Overview
Hungary Energy Market Overview
Regulatory Structure
Fiscal Regime
Licensing Regime
Oil And Gas Infrastructure
Oil Refineries
  Table: Refineries In Hungary
Service Stations
Oil Storage Facilities
Oil Pipelines
Gas Storage Facilities
Gas Pipelines
  Table: Gas Pipeline Infrustucture
Competitive Landscape
Competitive Landscape Summary
  Table: Key Players - Hungary Oil & Gas Sector
  Table: Key Upstream Player
  Table: Key Downstream Players
Company Profile
Latest Updates
  Table: Major Upstream Assets in Hungary
  Table: Key Financial Data (USDmn)
Regional Overview
Central And Eastern Europe Oil & Gas Regional Overview
Oil Production: Oil Powerhouses Falter On Weak Prices
Oil Consumption: Short-Term Weakness As Russia Struggles
Refining Capacity: Modernisation Key To Competing
Natural Gas Production: Gas Ramp-Up Demand Dependent
  Table: Central Asia-China Gas Pipeline Expansions
Gas Consumption: Demand Falters On Struggling Economies
  Table: Central & Eastern Europe Oil & Gas Production & Consumption, 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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