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Spain Oil and Gas Report Q4 2008 (Business Monitor International)
- Market: Energy and Utilities
- Report Title: Spain Oil and Gas Report Q4 2008
- View Report Summary: View Report Summary
- Report Type: Market Report
- Country: Spain
- Number of Pages: 67
Executive Summary ........................................................................................................................................6
SWOT Analysis................................................................................................................................................8
Spain Political SWOT ........................................................................................................................................................................................... 8
Spain Economic SWOT......................................................................................................................................................................................... 8
Spain Energy Market Overview.......................................................................................................................9
Global Oil Market Overview..........................................................................................................................11
Oil Bites Back ..................................................................................................................................................................................................... 11
Table: Global Oil Consumption (000b/d) ........................................................................................................................................................... 13
Table: Global Oil Production (000b/d)............................................................................................................................................................... 14
Oil Price Outlook ...........................................................................................................................................15
OPEC Intransigence........................................................................................................................................................................................... 15
Table: Crude Price Assumptions 2007/2008....................................................................................................................................................... 17
Revised Forecasts .................................................................................................................................................................................................... 17
Table: Oil Price Forecasts.................................................................................................................................................................................. 18
Regional Energy Market Overview ...............................................................................................................19
Oil Supply And Demand...................................................................................................................................................................................... 19
Table: Developed Markets Oil Consumption (000b/d)........................................................................................................................................ 20
Table: Developed Markets Oil Production (000b/d)........................................................................................................................................... 21
Oil: Downstream ................................................................................................................................................................................................ 22
Table: Developed Markets Oil Refining Capacity (000b/d) ................................................................................................................................ 22
Gas Supply And Demand ......................................................................................................................................................................................... 23
Table: Developed Markets Gas Consumption (bcm)........................................................................................................................................... 23
Table: Developed Markets Gas Production (bcm) .............................................................................................................................................. 24
Liquefied Natural Gas.............................................................................................................................................................................................. 25
Table: Developed Markets LNG Imports/(Exports) (bcm) .................................................................................................................................. 25
Industry Forecast Scenario..........................................................................................................................26
Oil and Gas Reserves.......................................................................................................................................................................................... 26
Oil Supply and Demand...................................................................................................................................................................................... 26
Gas Supply and Demand..................................................................................................................................................................................... 26
LNG.................................................................................................................................................................................................................... 26
Refining and Oil Products Trade ........................................................................................................................................................................ 27
Revenues/Import Costs ....................................................................................................................................................................................... 27
Table: Spain Oil & Gas – Historical data & Forecasts ...................................................................................................................................... 28
Other Energy ...................................................................................................................................................................................................... 29
Table: Spain Other Energy – Historical data & Forecasts ................................................................................................................................. 30
Key Risks to BMI’s Forecast Scenario................................................................................................................................................................ 30
Long-Term Oil & Gas Outlook ........................................................................................................................................................................... 30
Macroeconomic Outlook ...............................................................................................................................31
Table: Spain - Economic Activity........................................................................................................................................................................ 33
Competitive Landscape................................................................................................................................34
Executive Summary.................................................................................................................................................................................................. 34
Table: Key Players – Spanish Oil & Gas Sector................................................................................................................................................. 35
Overview/State Role................................................................................................................................................................................................. 35
Table: Key Downstream Players ........................................................................................................................................................................ 36
Company Monitor..........................................................................................................................................37
Repsol YPF .............................................................................................................................................................................................................. 37
Market Position .................................................................................................................................................................................................. 38
Strategy............................................................................................................................................................................................................... 38
Latest Developments ........................................................................................................................................................................................... 39
Gas Natural ............................................................................................................................................................................................................. 42
Market Position .................................................................................................................................................................................................. 43
Strategy............................................................................................................................................................................................................... 43
Latest Developments ........................................................................................................................................................................................... 44
Beach Petroleum/Serica Energy – Summary....................................................................................................................................................... 46
Glossary of Terms.........................................................................................................................................47
Oil & Gas Ratings: Revised Methodology ...................................................................................................48
Introduction ........................................................................................................................................................................................................ 48
Ratings Overview................................................................................................................................................................................................ 48
Table: BMI Oil & Gas Business Environment Ratings: Structure ....................................................................................................................... 49
Indicators............................................................................................................................................................................................................ 49
Table: BMI Oil & Gas Business Environment Upstream Ratings: Methodology................................................................................................. 50
Table: BMI Oil & Gas Business Environment Downstream Ratings: Methodology ............................................................................................ 51
Oil & Gas Outlook: Long-Term Forecasts ...................................................................................................53
Global Oil Demand............................................................................................................................................................................................. 53
Global Oil Demand (000b/d) .............................................................................................................................................................................. 53
Global Oil Production (000b/d).......................................................................................................................................................................... 54
Global Oil Supply ............................................................................................................................................................................................... 54
Global Gas Demand ................................................................................................................................................................................................ 55
Global Gas Demand (bcm) ................................................................................................................................................................................. 55
Global Gas Supply.............................................................................................................................................................................................. 55
Global Gas Production (bcm)............................................................................................................................................................................. 56
Regional Oil Demand .............................................................................................................................................................................................. 57
Developed Europe Oil Consumption (000b/d) .................................................................................................................................................... 57
Regional Oil Supply............................................................................................................................................................................................ 57
Developed Europe Oil Production (000b/d) ....................................................................................................................................................... 58
Regional Refining Capacity ................................................................................................................................................................................ 58
Developed Europe Oil Refining Capacity (000b/d)............................................................................................................................................. 59
Regional Gas Demand ........................................................................................................................................................................................ 59
Developed Europe Gas Consumption (bcm) ....................................................................................................................................................... 60
Regional Gas Supply........................................................................................................................................................................................... 60
Developed Europe Gas Production (bcm) .......................................................................................................................................................... 61
Spain Country Overview.......................................................................................................................................................................................... 61
Spain Oil & Gas – Long-term Forecasts............................................................................................................................................................. 62
Spain Other Energy – Long-Term Forecasts ...................................................................................................................................................... 63
Methodology & Risks To Forecasts .................................................................................................................................................................... 63
BMI Forecast Modelling ................................................................................................................................65
How we generate our industry forecasts ............................................................................................................................................................. 65
Energy Industry .................................................................................................................................................................................................. 66
Cross checks ....................................................................................................................................................................................................... 66
Sources ............................................................................................................................................................................................................... 66
SWOT Analysis................................................................................................................................................8
Spain Political SWOT ........................................................................................................................................................................................... 8
Spain Economic SWOT......................................................................................................................................................................................... 8
Spain Energy Market Overview.......................................................................................................................9
Global Oil Market Overview..........................................................................................................................11
Oil Bites Back ..................................................................................................................................................................................................... 11
Table: Global Oil Consumption (000b/d) ........................................................................................................................................................... 13
Table: Global Oil Production (000b/d)............................................................................................................................................................... 14
Oil Price Outlook ...........................................................................................................................................15
OPEC Intransigence........................................................................................................................................................................................... 15
Table: Crude Price Assumptions 2007/2008....................................................................................................................................................... 17
Revised Forecasts .................................................................................................................................................................................................... 17
Table: Oil Price Forecasts.................................................................................................................................................................................. 18
Regional Energy Market Overview ...............................................................................................................19
Oil Supply And Demand...................................................................................................................................................................................... 19
Table: Developed Markets Oil Consumption (000b/d)........................................................................................................................................ 20
Table: Developed Markets Oil Production (000b/d)........................................................................................................................................... 21
Oil: Downstream ................................................................................................................................................................................................ 22
Table: Developed Markets Oil Refining Capacity (000b/d) ................................................................................................................................ 22
Gas Supply And Demand ......................................................................................................................................................................................... 23
Table: Developed Markets Gas Consumption (bcm)........................................................................................................................................... 23
Table: Developed Markets Gas Production (bcm) .............................................................................................................................................. 24
Liquefied Natural Gas.............................................................................................................................................................................................. 25
Table: Developed Markets LNG Imports/(Exports) (bcm) .................................................................................................................................. 25
Industry Forecast Scenario..........................................................................................................................26
Oil and Gas Reserves.......................................................................................................................................................................................... 26
Oil Supply and Demand...................................................................................................................................................................................... 26
Gas Supply and Demand..................................................................................................................................................................................... 26
LNG.................................................................................................................................................................................................................... 26
Refining and Oil Products Trade ........................................................................................................................................................................ 27
Revenues/Import Costs ....................................................................................................................................................................................... 27
Table: Spain Oil & Gas – Historical data & Forecasts ...................................................................................................................................... 28
Other Energy ...................................................................................................................................................................................................... 29
Table: Spain Other Energy – Historical data & Forecasts ................................................................................................................................. 30
Key Risks to BMI’s Forecast Scenario................................................................................................................................................................ 30
Long-Term Oil & Gas Outlook ........................................................................................................................................................................... 30
Macroeconomic Outlook ...............................................................................................................................31
Table: Spain - Economic Activity........................................................................................................................................................................ 33
Competitive Landscape................................................................................................................................34
Executive Summary.................................................................................................................................................................................................. 34
Table: Key Players – Spanish Oil & Gas Sector................................................................................................................................................. 35
Overview/State Role................................................................................................................................................................................................. 35
Table: Key Downstream Players ........................................................................................................................................................................ 36
Company Monitor..........................................................................................................................................37
Repsol YPF .............................................................................................................................................................................................................. 37
Market Position .................................................................................................................................................................................................. 38
Strategy............................................................................................................................................................................................................... 38
Latest Developments ........................................................................................................................................................................................... 39
Gas Natural ............................................................................................................................................................................................................. 42
Market Position .................................................................................................................................................................................................. 43
Strategy............................................................................................................................................................................................................... 43
Latest Developments ........................................................................................................................................................................................... 44
Beach Petroleum/Serica Energy – Summary....................................................................................................................................................... 46
Glossary of Terms.........................................................................................................................................47
Oil & Gas Ratings: Revised Methodology ...................................................................................................48
Introduction ........................................................................................................................................................................................................ 48
Ratings Overview................................................................................................................................................................................................ 48
Table: BMI Oil & Gas Business Environment Ratings: Structure ....................................................................................................................... 49
Indicators............................................................................................................................................................................................................ 49
Table: BMI Oil & Gas Business Environment Upstream Ratings: Methodology................................................................................................. 50
Table: BMI Oil & Gas Business Environment Downstream Ratings: Methodology ............................................................................................ 51
Oil & Gas Outlook: Long-Term Forecasts ...................................................................................................53
Global Oil Demand............................................................................................................................................................................................. 53
Global Oil Demand (000b/d) .............................................................................................................................................................................. 53
Global Oil Production (000b/d).......................................................................................................................................................................... 54
Global Oil Supply ............................................................................................................................................................................................... 54
Global Gas Demand ................................................................................................................................................................................................ 55
Global Gas Demand (bcm) ................................................................................................................................................................................. 55
Global Gas Supply.............................................................................................................................................................................................. 55
Global Gas Production (bcm)............................................................................................................................................................................. 56
Regional Oil Demand .............................................................................................................................................................................................. 57
Developed Europe Oil Consumption (000b/d) .................................................................................................................................................... 57
Regional Oil Supply............................................................................................................................................................................................ 57
Developed Europe Oil Production (000b/d) ....................................................................................................................................................... 58
Regional Refining Capacity ................................................................................................................................................................................ 58
Developed Europe Oil Refining Capacity (000b/d)............................................................................................................................................. 59
Regional Gas Demand ........................................................................................................................................................................................ 59
Developed Europe Gas Consumption (bcm) ....................................................................................................................................................... 60
Regional Gas Supply........................................................................................................................................................................................... 60
Developed Europe Gas Production (bcm) .......................................................................................................................................................... 61
Spain Country Overview.......................................................................................................................................................................................... 61
Spain Oil & Gas – Long-term Forecasts............................................................................................................................................................. 62
Spain Other Energy – Long-Term Forecasts ...................................................................................................................................................... 63
Methodology & Risks To Forecasts .................................................................................................................................................................... 63
BMI Forecast Modelling ................................................................................................................................65
How we generate our industry forecasts ............................................................................................................................................................. 65
Energy Industry .................................................................................................................................................................................................. 66
Cross checks ....................................................................................................................................................................................................... 66
Sources ............................................................................................................................................................................................................... 66
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