Oman Oil and Gas Report Q1 2012

Date: February 29, 2012
Pages: 69
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download
ID: O383485ADC3EN

Download PDF Leaflet

Includes 3 FREE quarterly updates

The BMI global oil supply and demand assumptions for 2011 and beyond have again been revisited, reflecting changes in the oil market and broader macroeconomic trends.

The second half of 2011 saw much of the market’s focus shift from concerns over supply, following the loss of Libyan volumes in February, to worries over the demand outlook, as macroeconomic conditions worsened across Western and emerging economies.

In our view, the focus on demand-side dynamics will continue into 2012 as macroeconomic weakness feeds through into oil demand. We have downgraded our 2011 US real GDP growth forecast to 1.6% and the medium-term outlook offers little hope for a strong recovery. We expect even slower growth in the eurozone – of around 1.8% – and we see mounting risks to growth in China.

There is already evidence that worsening macroeconomic conditions and demand destruction resulting from high oil prices have started to hit oil consumption. In the US, we now forecast that liquids consumption will have grown by just 0.57% in 2011, compared to a growth rate of 2.01% in 2010. With signs that a disappointing summer driving season in the US was carrying on into the autumn, risks to this forecast are firmly to the downside, with potential for demand to actually shrink. The demand outlook for 2012 is only slightly higher, again with risk to the downside if macroeconomic conditions continue to deteriorate.

While growth has disappointed in Western economies, demand remained robust in emerging economies over H111, more than making up for slower-than-expected consumption in the West. China, of course, has been driving emerging market demand. However, government measures to counter inflation and address pollution concerns – by limiting car sales and raising fuel prices – look to be taking hold.

Demand, although still robust, started to slow in the June and July 2011 and continued to fall in August. Apparent oil demand grew by 7% year-on-year (y-o-y) to 8.98mn barrels/day (b/d). While those are strong numbers, 8.98mn b/d was the lowest figure since October 2010 and the underlying growth trend is showing signs of slowing. With government efforts to rein in inflation and address environmental concerns set to continue, we expect further deceleration in consumption growth through to the end of 2011 and into early 2012.

However, even with a weakening demand outlook, supply in the market remains very tight. Our forecasts show the global market running at a supply deficit of about 1.7mn b/d for 2011. The primary factor behind this deficit was Libya; but production from Latin America, the UK North Sea and Emerging Europe also disappointed.
BMI Industry View
SWOT Analysis
Oman Oil and Gas SWOT
Global Energy Market Outlook
  Table: Global Oil Consumption (000b/d), 2009-2016
  Table: Global Oil Production (000b/d), 2009-2016
Regional Energy Market Outlook
Oil Supply And Demand
Table : Middle East Region Oil Consumption, (000b/d) 2008-2016
Table : Middle East Region Oil Production, (000b/d) 2008-2016
Oil: Downstream
Table : Middle East Region Refining Capacity, (000b/d) 2008-2016
Gas Supply And Demand
Table : Middle East Region Gas Consumption, (bcm) 2008-2016
Table : Middle East Region Gas Production, (bcm) 2008-2016
Liquefied Natural Gas
  Table: Middle East Net LNG Exports (bcm)
Oman Energy Market Overview
  Table: Oman – Upstream Projects Database
Industry Forecast Scenario
  Table: Oman Oil And Gas – Historical Data And Forecasts, 2008-2016
Oil and Gas Reserves
Oil Supply and Demand
Gas Supply And Demand
Refining And Oil Products Trade
Revenues/Import Costs
Key Risks To BMI’s Forecast Scenario
Oil and Gas Infrastructure
Oil Refineries
  Table: Refineries In Oman
LNG Terminals
  Table: LNG Terminals In Oman
Gas Pipelines
Regional and Country Risk/Reward Ratings
Middle East Region
Composite Scores
  Table: Regional Composite Business Environment Rating
Upstream Scores
  Table: Regional Upstream Business Environment Rating
Downstream Scores
  Table: Regional Downstream Business Environment Rating
Competitive Landscape
Executive Summary
  Table: Key Companies In Oman’s Energy Sector
Overview/State Role
Licensing And Regulation
International Energy Relations
  Table: Key Upstream Players
  Table: Key Downstream Players
Company Monitor
Petroleum Development Oman (PDO)
Shell Oman Marketing Company
Oman Oil Company (OOC)
Occidental Petroleum (Oxy)
RAK Petroleum
Oman Refineries And Petrochemicals Company – Summary
OOCEP – Summary
Total – Summary
BP – Summary
MOL – Summary
PTTEP – Summary
Petrogas – Summary
Tethys Oil – Summary
Circle Oil – Summary
Petroci/Rex Oil and Gas – Summary
Others – Summary
Appendix: Oil And Gas Long-Term Forecasts
Regional Oil Demand
Table : Middle East Region Oil Consumption (000b/d), 2014-2021
Regional Oil Supply
Table : Middle East Region Oil Production (000b/d), 2014-2021
Regional Refining Capacity
Table : Middle East Region Refining Capacity (000b/d), 2014-2021
Regional Gas Demand
Table : Middle East Region Gas Consumption (bcm), 2014-2021
Regional Gas Supply
Table : Middle East Region Gas Production (bcm), 2014-2021
Methodology And Risks To Forecasts
Glossary Of Terms
Oil And Gas Risk/Reward Ratings Methodology
Ratings Overview
  Table: BMI’s Oil & Gas Business Environment Ratings – Structure
  Table: BMI’s Oil & Gas Upstream Ratings – Methodology
  Table: BMI’s Oil & Gas Business Environment Downstream Ratings – Methodology
BMI Methodology
How We Generate Our Industry Forecasts
Energy Industry
Cross checks
Skip to top

Oman Oil and Gas Report Q2 2016 US$ 1,295.00 Mar, 2016 · 109 pages
Oman Oil and Gas Report Q3 2016 US$ 1,295.00 Jul, 2016 · 80 pages

Ask Your Question

Oman Oil and Gas Report Q1 2012
Company name*:
Contact person*:
Request invoice
Your enquiry:
Please click on a Check Box below to confirm you are not a robot: