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Bulgaria Oil and Gas Report Q2 2016

Bulgaria Oil and Gas Report Q2 2016

BMI View: Improvements in the refining sector have boosted refined fuels production, though 2016 will betougher with margins expected to drop. The restart of exploration in the Black Sea is positive for Bulgaria'soil and gas sector, which has suffered from heavy production declines in 2015.

The main trends and developments in Bulgaria's oil and gas sector are:

Total will start drilling in the Black Sea Khan-Asparuh block between February and May 2016.

Petroceltic is due to complete the tieback of the Kavarna East field to the Galata platform in H116supporting new gas output.

A third well (Kaliakra-3) is being planned at the Kaliakra field to maintain output, given heavy declinesfrom Kaliakra-1.

Gas production in Bulgaria dropped to an estimated 82mn cubic metres in 2015, down from 181mn in2014.

Gasoline and diesel production increased over 20% in 2015 following the completion of Lukoil's newheavy residue complex.

Gasoline and diesel consumption increased around 3-4% over 2015, supported by low prices.


BMI Industry View
Table: Headline Forecasts (Bulgaria 2014
2020)
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Production Oil
Latest Updates
Structural Trends
Table: Oil Production (Bulgaria 2014
2019)
Table: Oil Production (Bulgaria 2020
2025)
Upstream Production Gas
Latest Updates
Structural Trends
Table: Gas Production (Bulgaria 2014
2019)
Table: Gas Production (Bulgaria 2020
2025)
Refining
Latest Updates
Structural Trends
Table: Refining Capacity And Refined Products Production (Bulgaria 2014
2019)
Table: Refining Capacity and Refined Products Production (Bulgaria 2020
2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
Table: Refined Products Consumption (Bulgaria 2014
2019)
Table: Refined Products Consumption (Bulgaria 2020
2025)
Gas Consumption
Latest Updates
Structural Trends
Table: Gas Consumption (Bulgaria 2014
2019)
Table: Gas Consumption (Bulgaria 2020
2025)
Trade Oil
Latest Updates
Crude Oil
Table: Crude Oil Net Exports (Bulgaria 2014
2019)
Table: Crude Oil Net Exports (Bulgaria 2020
2025)
Refined Fuels
Table: Refined Fuels Net Exports (Bulgaria 2014
2019)
Table: Refined Fuels Net Exports (Bulgaria 2020
2025)
Trade Gas (Pipeline And LNG)
Latest Updates
Structural Trends
Table: Gas Net Exports (Bulgaria 2014
2019)
Table: Gas Net Exports (Bulgaria 2020
2025)
Industry Risk Reward Index
Central And Eastern Europe Oil & Gas Risk/Reward Index
Table: Regional Risk/Reward Index Averages
High Risk, Low Reward In Central And Eastern Europe
Table: Central And Eastern Europe
Upstream, Downstream And Overall Risk/Reward Index
Upstream: China Still The Target Market
Table: Central And Eastern Europe Upstream Risk/Reward Index
Downstream: Turkish STAR Only Bright Spot In Weak Market
Table: Central And Eastern Europe
Downstream Risk/Reward Index
Bulgaria Risk/Reward Index
Market Overview
Bulgaria Energy Market Overview
Regulatory Structure
Fiscal Regime
Table: Bulgaria Petroleum Taxes
Licensing Rounds
Oil & Gas Infrastructure
Oil Refineries
Table: Refineries In Bulgaria
Service Stations
Table: Major Fuel Retailers In Bulgaria
Oil Storage Facilities
Oil Terminals/Ports
Gas Storage Facilities
Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
Table: Key Players In The Bulgarian Oil And Gas Sector
Table: Key Upstream Players
Table: Key Downstream Players
Company Profile
EKO Bulgaria
Lukoil Neftekhim
OGEP
OMV Bulgaria
Petroceltic
Petrol
Shell Bulgaria
Other Summaries
Regional Overview
Central And Eastern Europe Oil And Gas Regional Overview
Oil Production: Output Growth Stalling
Oil Consumption: Weak EM Growth Softens Demand
Refining Capacity: Modernisation Over Capacity Growth
Natural Gas Production: Gas RampUp Depends On China's Hunger
Table: Central Asia
China Gas Pipeline Expansions
Gas Consumption: Demand Falters On Struggling Economies
Table: Central And Eastern Europe
Oil And Gas Production And Consumption, Refining Capacity And Trade
Glossary
Table: Glossary Of Terms
Methodology
Industry Forecast Methodology
Source
Risk/Reward Index Methodology
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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