Spain Oil and Gas Report - Business Monitor International - Industry Reports

Spain Oil and Gas Report

Spain Oil and Gas Report - Business Monitor International - Industry Reports
Spain Oil and Gas Report
Published Oct 01, 2016
80 pages — Published Oct 01, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

Spain s Guadalaquivir Basin stretches across the southern portion of the country and is thought to be geologically analogous to oil and gas producing plays in Romania. The basin s prospectivity may also extend offshore, with the neighbouring Gulf of Cadiz the site of a series of offshore gas discoveries made during the ----s. ...Drilling was due to test the prospect over ----, but the company did not communicate any update to date. Petrel noted that given the Maghreb pipeline is located some -km away, any reasonable flow rate would be readily commercial. Petrel also cited high local gas prices - in the USD-- per million British thermal units range - as adding further incentive to moving quickly to monetise its Tesorillo assets. However, the recent fall in gas prices could call into question the company s ability or willingness to monetise Tesorillo s gas promptly. In our view, given the existing infrastructure, positive news from Petrel could encourage other juniors to take a closer look at the basin which appears to have sizable untapped potential relative to existing domestic output. Environmental opposition is very active against development in the Guadarauivir basin in particular because of the risk petroleum production could create to local World Heritage site Coto Donana.

...Prospects for conventional oil and gas discoveries remain poor, with insignificant existing volumes of oil reserves. Offshore opportunities took a hit in ---- with withdrawals from Repsol and Cairn Energy. ...Risks to this outlook are to the downside, with ageing refineries unable to compete with the scale and efficiency of new generation capacity being built in the Middle East and Asia. After years of strong refined fuels consumption declines, we forecast consumption to largely stagnate over the rest of our forecast period thanks to continued efficiency drive in the transport sector and stagnant vehicle fleet. Spain will remain a large net importer of crude oil over the next decade which will weigh on its overall trade balance. Spain will remain a small net exporter of refined products over the forecast period. This is a significant change prior to ---- when Spain was a net importer of refined fuels, and can largely be explained by the strong decline in domestic consumption.

...Prospects for conventional oil and gas discoveries are poor, with negligible existing volumes of oil reserves - approximately ---mn barrels throughout our ---year forecast period to ----. Natural gas reserves are estimated at -.-bn cubic metres (bcm) for ----, gradually dropping to -.-bcm over the remainder of our --- year forecast period as we do not expect significant discoveries. ...

  
Source:
Document ID
1748-4278
Country
Industry
Format:
PDF Adobe Acrobat
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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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MLA:
Business Monitor International - Industry Reports. "Spain Oil and Gas Report" Oct 01, 2016. Alacra Store. Dec 09, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Spain-Oil-and-Gas-Report-2026-268>
  
APA:
Business Monitor International - Industry Reports. (2016). Spain Oil and Gas Report Oct 01, 2016. New York, NY: Alacra Store. Retrieved Dec 09, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Spain-Oil-and-Gas-Report-2026-268>
  
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