Middle East And North Africa Oil and Gas Report - Business Monitor International - Industry Reports

Middle East And North Africa Oil and Gas Report

Middle East And North Africa Oil and Gas Report - Business Monitor International - Industry Reports
Middle East And North Africa Oil and Gas Report
Published Oct 01, 2016
57 pages — Published Oct 01, 2016
Price US$ 1,295.00  |  Buy this Report Now

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...**Revised monthly in line with global market prices; accurate as of June -- ----. ...As a result, consumption patterns are expected to see slower, yet still strong positive growth. Economic expansion, particularly in the refining and petrochemical sectors, will continue to drive demand for oil, while population growth and vehicle sales continue to point to stronger domestic demand. We forecast Middle East refined product consumption to increase from -.--mn b/d in ---- to -.--mn b/d in ----, around a -.-mn b/d reduction from our ---- forecast. ...Israel is the only exception to the trend, with oil consumption set to decline over the next -- years. A considerable increase in natural gas production will support greater gas use over oil, particularly in power and industry, but also potentially in the transport sector.

...Saudi Arabia will sustain strong oil production levels to supply its growing refining sector while maintaining export volumes. The country has also vowed to maintain its --.-mn b/d production capacity. ...The UAE is aiming to increase crude oil output to -.-mn b/d by ----, driven by ExxonMobil s Upper Zakum expansion. Iraq has an oil production target of -.-mn b/d to -.-mn b/d by ----, supported by contracted production plateau levels at its largest oil fields. Combined plateau output of the Rumaila, West Qurna--, Majnoon, Zubair and Halfaya is -.--mn b/d. In ----, Iran has had the largest impact, with oil exports increasing by more than -mn b/d since sanctions were lifted in January. We currently do not forecast much further short-term upside from Iran, although post----- upside could be substantial depending on the attractiveness of the Iran Petroleum Contract (IPC).

...Oil production remains strong as key producers look to take advantage of falling output elsewhere. In particular, Persian Gulf states are maximising production. The Middle East remains the most stable region for rig counts, with lower oil prices having minimal impact on investments. Investments are increasingly targeting gas projects, as producers look to release higher-value crude for export and meet growing domestic energy demand. Fuel subsidy reforms have been gathering momentum as low oil prices both force budget cuts and facilitate price normalisation. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Middle East And North Africa Oil and Gas Report" Oct 01, 2016. Alacra Store. Oct 27, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Middle-East-And-North-Africa-Oil-and-Gas-Report-2026-1964>
Business Monitor International - Industry Reports. (2016). Middle East And North Africa Oil and Gas Report Oct 01, 2016. New York, NY: Alacra Store. Retrieved Oct 27, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Middle-East-And-North-Africa-Oil-and-Gas-Report-2026-1964>
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