Market Research Logo

Nigeria Oil and Gas Report Q1 2015

Nigeria Oil and Gas Report Q1 2015

BMI View: Taking into account staggering onshore production, continued instability and investmentdelays/cancellations due to regulatory uncertainty and the falling crude oil prices, we forecast Nigerian oilproduction to increase only slightly from its current levels, from 2.38mn b/d in 2014 to a peak of 2.48mn b/dby 2020. Both downside and upside risk exists, largely depending on an improvement in the businessenvironment, and the content and adoption of the PIB. Should the current situation endure without anadoption of the PIB, project investments and cancellations could see Nigerian production head downwardsin the medium-to-longer term, as new production fails to offset decline rates at mature onshore andshallow-water fields. A more substantial increase in production is unlikely until the PIB is passed.

The main trends and developments we highlight for Nigeria's oil and gas sector are as follows:

While the onshore situation is certainly not an encouraging one and will likely result in continued outagesin the short-term, it is unlikely that Nigerian production will fall further than it currently has, given theinterest by companies for divested assets, the moderate role played by onshore production, the increasingimportance of offshore production and the continued presence of large IOCs in the offshore.


BMI Industry View
Table: Headline Forecasts (Nigeria 2012-2018)
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Table: Proven Oil and Gas Reserves (Nigeria 2012-2017)
Table: Proven Oil and Gas Reserves (Nigeria 2018-2023)
Upstream Projects
Table: Upstream Project Database
Upstream Production - Oil
Table: Oil Production (Nigeria 2012-2017)
Table: Oil Production (Nigeria 2018-2023)
Table: Company Divestments From Nigeria
Upstream Production - Gas
Table: Gas Production (Nigeria 2012-2017)
Table: Gas Production (Nigeria 2018-2023)
Refining
Table: Refining Capacity and Refined Products Production (Nigeria 2012-2017)
Table: Refining Capacity and Refined Products Production (Nigeria 2018-2023)
Refined Fuels Consumption
Table: Refined Products Consumption* (Nigeria 2012-2017)
Table: Refined Products Consumption* (Nigeria 2018-2023)
Gas Consumption
Table: Gas Consumption (Nigeria 2012-2017)
Table: Gas Consumption (Nigeria 2018-2023)
Trade - Oil
Table: Crude Oil Net Exports (Nigeria 2012-2017)
Table: Crude Oil Net Exports (Nigeria 2018-2023)
Table: Refined Fuels Net Exports (Nigeria 2012-2017)
Table: Refined Fuels Net Exports (Nigeria 2018-2023)
Table: Total Net Oil Exports - Crude and Products (Nigeria 2012-2017)
Table: Total Net Oil Exports - Crude and Products (Nigeria 2018-2023)
Trade - Gas (Pipeline and LNG)
Table: Gas Net Exports (Nigeria 2012-2017)
Table: Gas Net Exports (Nigeria 2018-2023)
Industry Risk Reward Ratings
Africa - Risk/Reward Index
Table: BMI's Africa Oil And Gas Risk/Reward Index
Above-ground Risks Dampen The Outlook
Table: BMI's Africa Upstream Risk/Reward Index
Emergent Producers Stumble At Regulatory Hurdles
Mature Producers Continue To Underperform Their Potential
An Underwhelming Downstream
Table: BMI's Africa Downstream Risk/Reward Index
Nigeria - Risk/Reward Ratings
Market Overview
Nigeria Energy Market Overview
Overview/State Role
Government Policy
Licensing Rounds
Oil & Gas Infrastructure
Oil Refineries
Oil Terminals/Ports
LNG Terminals
Table: LNG Projects In Nigeria
Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
Table: Key Players - Nigerian Oil & Gas Sector
Table: Nigeria Upstream Players
Table: Nigeria Downstream Players
Company Profile
Nigerian National Petroleum Corporation (NNPC)
Royal Dutch Shell
ExxonMobil
Chevron
Eni
Total
Afren
Other Summaries
Regional Overview
Africa Overview
Lower Risk Appetite Slowing Exploration Drive
Unconventionals: New Frontier
East Africa: Offshore Gas, Onshore Oil
High-Risk Continent
Downstream Blues
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)
Africa - 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 - Long-Term Forecasts, 2015-2023 (bcm)
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
Table: LNG Net Exports - Historical Data & Forecasts, 2011-2018 (bcm)
Table: LNG Net Exports - Long-Term Forecasts, 2015-2023 (bcm)
Nigeria - Total Hydrocarbons, 10-year Forecasts
Table: Total Hydrocarbons Production, Consumption and Net Exports (Nigeria 2012-2017)
Table: Total Hydrocarbons Production, Consumption and Net Exports (Nigeria 2018-2023)
Nigeria - Refined Products Breakdown, 10-Year Forecasts
Table: Refined Petroleum Products, Production Breakdown (Nigeria 2012-2017)
Table: Refined Petroleum Products, Production Breakdown (Nigeria 2018-2023)
Table: Refined Petroleum Products, Consumption Breakdown (Nigeria 2012-2017)
Table: Refined Petroleum Products, Consumption Breakdown (Nigeria 2018-2023)
Table: Refined Petroleum Products, Net Exports Breakdown (Nigeria 2012-2017)
Table: Refined Petroleum Products, Net Exports Breakdown (Nigeria 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

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report