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Hungary Oil and Gas Report Q2 2016

Hungary Oil and Gas Report Q2 2016

BMI View: Despite its efficient refining sector and favourable regulatory environment, Hungary's weakupstream profile renders the country one of the less attractive oil and gas markets in Central and EasternEurope. Small and depleting reserves will push Hungary's oil and gas production lower over the comingdecade, thus making the country increasingly dependent on energy imports from Russia.

Latest Updates And Structural Trends

In January 2016, UK-based JKX Oil & Gas won three 35-year production licences: Pely I (18sq km);Jaszkiser II (6sq km); and Emod V (100sq km). This increased the total number of the company'sproduction licenses in Hungary to six.

In April 2015, the Hungarian government published the latest licensing round for eight oil and gasconcession blocks. According to reports in late November 2015, O&GD Central was awarded fourblocks (Berettyóújfalu, Mogyoród, Nagykáta and Ócsa); state-owned Magyar Olaj-és Gázipari Nyrt(MOL) was awarded two blocks (Battonya-Pusztaföldvár Észak and Dány); Pnabridge Hungary wonthe bid for the Püspökladány block; and Horizon Energy secured the Lakócsa concession.

We maintain our view that small and declining oil reserves will drive crude and liquids production downthroughout our forecast period. From the estimated 2016 output of 18,700b/d, total production is expectedto shrink to 16,600b/d in 2020 and continue falling to 14,400b/d by 2025.


BMI Industry View
Table: Headline Forecasts (Hungary 2014-2020)
Latest Updates And Structural Trends
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Table: Proven Oil and Gas Reserves (Hungary 2014-2019)
Table: Proven Oil and Gas Reserves (Hungary 2020-2025)
Upstream Projects
Table: Hungary - Main Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
Table: Oil Production (Hungary 2014-2019)
Table: Oil Production (Hungary 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
Table: Gas Production (Hungary 2014-2019)
Table: Gas Production (Hungary 2020-2025)
Refining
Latest Updates
Structural Trends
Table: Refining Capacity and Refined Products Production (Hungary 2014-2019)
Table: Refining Capacity and Refined Products Production (Hungary 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
Table: Refined Products Consumption (Hungary 2014-2019)
Table: Refined Products Consumption (Hungary 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
Table: Gas Consumption (Hungary 2014-2019)
Table: Gas Consumption (Hungary 2020-2025)
Trade - Oil
Crude Oil Net Trade
Latest Updates
Structural Trends
Table: Crude Oil Net Exports (Hungary 2014-2019)
Table: Crude Oil Net Exports (Hungary 2020-2025)
Refined Products Net Trade
Latest Updates
Structural Trends
Table: Refined Fuels Net Exports (Hungary 2014-2019)
Table: Refined Fuels Net Exports (Hungary 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
Table: Gas Net Exports (Hungary 2014-2019)
Table: Gas Net Exports (Hungary 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
Hungary - Risk/Reward Index
Hungary Upstream Index - Overview
Hungary Upstream Index - Rewards
Hungary Upstream Index - Risks
Hungary Downstream Index - Overview
Market Overview
Hungary Energy Market Overview
Regulatory Structure
Fiscal Regime
Licensing Regime
Oil And Gas Infrastructure
Oil Refineries
Table: Refineries In Hungary
Service Stations
Oil Storage Facilities
Oil Pipelines
Gas Storage Facilities
Gas Pipelines
Table: Gas Pipeline Infrustucture
Competitive Landscape
Competitive Landscape Summary
Table: Key Players - Hungary Oil & Gas Sector
Table: Key Upstream Player
Table: Key Downstream Players
Company Profile
Agip Hungaria
MOL
OMV Hungary
Shell Hungary
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 Ramp-Up 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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