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Kuwait Oil and Gas Report Q1 2015


Attention: There is an updated edition available for this report.

BMI Industry View
Table: Headline Forecasts (Kuwait 2012-2018)
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Table: Proven Oil and Gas Reserves (Kuwait 2012-2017)
Table: Proven Oil and Gas Reserves (Kuwait 2018-2023)
Upstream Projects
Table: Kuwait - Key Upstream Projects
Upstream Production - Oil
Table: Oil Production (Kuwait 2012-2017)
Table: Oil Production (Kuwait 2018-2023)
Upstream Production - Gas
Table: Gas Production (Kuwait 2012-2017)
Table: Gas Production (Kuwait 2018-2023)
Refining
Table: Refining Capacity and Refined Products Production (Kuwait 2012-2017)
Table: Refining Capacity and Refined Products Production (Kuwait 2018-2023)
Refined Fuels Consumption
Table: Refined Products Consumption* (Kuwait 2012-2017)
Table: Refined Products Consumption* (Kuwait 2018-2023)
Gas Consumption
Table: Gas Consumption (Kuwait 2012-2017)
Table: Gas Consumption (Kuwait 2018-2023)
Trade - Oil
Table: Crude Oil Net Exports (Kuwait 2012-2017)
Table: Crude Oil Net Exports (Kuwait 2018-2023)
Table: Refined Fuels Net Exports (Kuwait 2012-2017)
Table: Refined Fuels Net Exports (Kuwait 2018-2023)
Table: Total Net Oil Exports - Crude and Products (Kuwait 2012-2017)
Table: Total Net Oil Exports - Crude and Products (Kuwait 2018-2023)
Trade - Gas (Pipeline and LNG)
Table: Gas Net Exports (Kuwait 2012-2017)
Table: Gas Net Exports (Kuwait 2018-2023)
Table: Kuwait LNG Infrastructure
Industry Risk Reward Ratings
Middle East - Risk/Reward Ratings
Table: BMI's Middle East Oil & Gas Risk/Reward Ratings (RRRs)
Below-Ground Potential Boosting Ratings
Table: Middle East Upstream Oil & Gas Risk/Reward Rating
Limited Opportunities Downstream
Table: Middle East Downstream Oil & Gas Risk/Reward Rating
Kuwait - Risk/Reward Ratings
Kuwait Upstream Index
Kuwait Downstream Inex
Market Overview
Kuwait Energy Market Overview
Overview/State Role
Licensing And Regulation
Government Policy
International Energy Relations
Table: BMI Upstream Projects Database
Oil And Gas Infrastructure
Oil Refineries
Table: Refineries In Kuwait
Service Stations
Oil Storage Facilities
Oil Terminals/Ports
Oil Pipelines
LNG Terminals
Gas Pipelines
LNG
Table: Kuwait LNG Infrastructure
Gas Booster Stations
Competitive Landscape
Competitive Landscape Summary
Table: Key Kuwaiti Oil & Gas Sector Players
Company Profile
Kuwait Petroleum Corporation (KPC)
Kuwait National Petroleum Company (KNPC)
Chevron
Other Summaries
Regional Overview
Middle East Regional
Middle East Oil Production - Risks Dampening Iraqi Outlook
Middle East Oil Consumption - Demand Continues Unrestrained
Middle East Refining Capacity - Soaking Up Domestic Crude Output
Middle East Gas Production - A Growing Domestic Priority
Middle East Gas Consumption - Production Struggling To Keep Pace With Demand
Global Industry Overview
Table: Key US Production Zones Average Full Cycle Breakeven Cost Per Barrel (USD/bbl)
Table: Canadian Oil Sands Average Full Cycle Breakeven Cost Per Barrel (USD/bbl)
Table: Middle East Onshore Conventional Breakeven Cost Per Barrel, (USD/BBL)
Table: Average Fiscal Breakeven Prices Of Key Middle East Producers 2014 (USD/bbl)
Appendix
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
Table: Energy Price Forecasts ( Global 2012-2017)
Table: Energy Price Forecasts (Global 2018-2023)
Middle East - Regional Appendix
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Gas Consumption, 2015-2023 (bcm)
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
Table: Net LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Net LNG Exports - Long-Term Forecasts, 2015-2023 (bcm)
Kuwait - Total Hydrocarbons, 10-year Forecasts
Table: Total Hydrocarbons Production, Consumption and Net Exports (Kuwait 2012-2017)
Table: Total Hydrocarbons Production, Consumption and Net Exports (Kuwait 2018-2023)
Kuwait - Refined Products Breakdown, 10-Year Forecasts
Table: Refined Petroleum Products, Production Breakdown (Kuwait 2012-2017)
Table: Refined Petroleum Products, Production Breakdown (Kuwait 2018-2023)
Table: Refined Petroleum Products, Consumption Breakdown (Kuwait 2012-2017)
Table: Refined Petroleum Products, Consumption Breakdown (Kuwait 2018-2023)
Table: Refined Petroleum Products, Net Exports Breakdown (Kuwait 2012-2017)
Table: Refined Petroleum Products, Net Exports Breakdown (Kuwait 2018-2023)
Table: LPG Production, Consumption and Net Exports (Kuwait 2012-2017)
Table: LPG Production, Consumption and Net Exports (Kuwait 2018-2023)
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

Kuwait Oil and Gas Report Q1 2015

BMI View: The Kuwaiti government's dominant role in the oil and gas sectors is still the main challenge toprivate investment, and by extension, greater efficiency in the sectors. The drop in global oil prices in thelatter half of 2014 only added to these challenges, as investment in exploration and production lessened dueto increased global supply and tempered demand. Kuwait's overwhelming dependence on oil and naturalgas exports, which consistently invites government intervention, has and will continue to create a lesscompetitive investment climate within the country. The government has managed to make measured stridesin increasing production, but without more private sector investment, BMI forecasts that Kuwait will fallshort of its production target. On the natural gas front, Kuwait's modest reserves will eventually see itdecline in production. This will render imports more valuable to its overall domestic energy basket.

We highlight the following trends and developments in Kuwait's oil and gas sector:

Considering OPEC's November 2014 decision not to decrease production, in the wake of the significanterosion of global oil prices, BMI expects output to largely remain unchanged for the first quarter of 2015.

Though Kuwait's official goal is still to increase oil production to 4mn b/d market by 2020, sketched outin the so-called Project Kuwait, infrastructural projects instrumental in meeting this target, along with thesignificant foreign investment needed, will most likely see this deadline pushed back by a decade.


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