Nigeria Oil and Gas Report Q2 2016

Date: April 6, 2016
Pages: 132
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Nigeria Oil and Gas Report Q2 2016
Includes 3 FREE quarterly updates

BMI View: While there have been some notable reforms to the NNPC, there is still a long way to go in order to create a transparent and profitable company that encourages investment and helps Nigeria reach its hydrocarbon potential. Nigerian oil production will increase slightly from 2.31mn barrels per day (b/d) in 2016 to 2.52mn b/d by 2018, based on sanctioned projects.

The Main Trends And developments For Nigeria's Oil And Gas Sector
  • On the exploration front, the current situation is bleak. According to Baker Hughes, the rotary rig count in Nigeria for February 2016 was 6, which is nearly half the average figure for 2015 and well below the average of 15 for 2014. However, 3D seismic surveys are being conducted in the Lake Chad area with the NNPC Director Ibe Kackikwu very positive about a significant oil discovery.
  • We expect total petroleum consumption to increase steadily from an estimated 317, 340b/d in 2016 to about 426,200b/d by the end of our forecast period, led by the transport sector and the continued use of diesel power generators as backups to intermittent power supplies. The recent collapse of oil prices has helped facilitate the removal of subsidies on gasoline, offering relief to the fragile refining sector.
  • The financial vulnerability of indigenous companies to continued low oil prices has the potential to slow down Nigeria's forecasted rise in production over the next three years. The Nigerian government's incentives for indigenous companies - coupled by widespread divestments by international oil companies (IOCs) - have fuelled the prominence of smaller Nigerian producers. According to the Nigerian National Petroleum Corporation (NNPC), these companies make up 10 percent of total production, which is equivalent to 242,000 Barrels per day at 2015 production levels.
BMI Industry View
  Table: Headline Forecasts (Nigeria 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
  Table: Proven Oil and Gas Reserves (Nigeria 2014-2019)
  Table: Proven Oil and Gas Reserves (Nigeria 2020-2025)
Upstream Projects
  Table: Upstream Project Database
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Nigeria 2014-2019)
  Table: Oil Production (Nigeria 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Nigeria 2014-2019)
  Table: Gas Production (Nigeria 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Nigeria 2014-2019)
  Table: Refining Capacity and Refined Products Production (Nigeria 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Nigeria 2014-2019)
  Table: Refined Products Consumption* (Nigeria 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Nigeria 2014-2019)
  Table: Gas Consumption (Nigeria 2020-2025)
Trade - Oil
Crude Oil
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Nigeria 2014-2020)
  Table: Crude Oil Net Exports (Nigeria 2020-2025)
Refined Fuels
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Nigeria 2014-2019)
  Table: Refined Fuels Net Exports (Nigeria 2020-2025)
Trade - Gas (Pipeline and LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Nigeria 2014-2019)
  Table: Gas Net Exports (Nigeria 2020-2025)
Industry Risk/Reward Index
Africa - Oil & Gas Risk/Reward Index
  Table: BMI Africa Oil & Gas Risk/Reward Index
Above-Ground Risks Dulling Below-Ground Potential
  Table: BMI Africa Upstream Risk/Reward Index
Downstream Sector Holds Limited Opportunity
  Table: BMI Africa Downstream Risk/Reward Index
Nigeria - Risk/Reward Index
Market Overview
Nigeria Energy Market Overview
Overview/State Role
Fiscal Regime
  Table: Nigeria- Fiscal Terms
  Table: Nigeria- Licenses And Contract Terms
The New Buhari Administration
Licensing Rounds
Oil & Gas Infrastructure
Oil Refineries
Oil Terminals/Ports
LNG Terminals
Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
  Table: Key Players - Nigerian Oil & Gas Sector
  Table: Nigeria Upstream Players
  Table: Nigeria Downstream Players
Company Profile
Nigerian National Petroleum Corporation (NNPC)
Royal Dutch Shell
Other Summaries
Regional Overview
Africa - Bullish Gas, Bearish Oil
  Table: Africa Oil & Gas Production, Consumption, Refining Capacity And 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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