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Saudi Arabia Oil and Gas Report Q2 2016

Saudi Arabia Oil and Gas Report Q2 2016

BMI View: Saudi Arabia will maintain its crude production broadly flat in 2016. However, longer-termproduction will rise, to answer growing demand from the domestic power and downstream sectors. Thekingdom is increasingly targeting its exploration and development spending towards its non-associated gasresources. Saudi Arabia has vast unconventional gas resources, but the pace of production will be slowedby low state-set gas prices and limited foreign participation in the sector. The consumption outlook ispositive for both oil and gas. However, we have revised down our refined fuels consumption forecasts inresponse to an accelerated subsidy reform programme.

Latest Updates & Key Trends

Saudi output will remain broadly flat in 2016, before resuming a gentle upward trend from 2017.

However, we forecast exports to remain flat as new refining capacity is brought online, absorbingforecast production growth.

In order to support exports, the kingdom has looked to increase the role of gas in the domestic power andindustrial sectors. However, domestic gas consumption remains heavily capped due to limited productiongrowth.

In spite of Saudi Arabia's heavy focus on unconventional and onshore non-associated gas resources,we expect slow progress in developing these prospects. Domestic production will likely remaininsufficient to meet unrestrained demand.

Despite inadequate domestic supply, proposals to import LNG will face major roadblocks, due toconcerns over the loss of the kingdom's energy self sufficient status, low domestic gas prices and risks todomestic gas development.


BMI Industry View
Table: Headline Forecasts (Saudi Arabia 2014-2020)
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
Table: Upstream Project Database
Upstream Production - Oil
Structural Trends
Table: Oil Production (Saudi Arabia 2014-2019)
Table: Oil Production (Saudi Arabia 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
Table: Gas Production (Saudi Arabia 2014-2019)
Table: Gas Production (Saudi Arabia 2020-2025)
Refining
Latest Updates
Structural Trends
Table: Refining Capacity and Refined Products Production (Saudi Arabia 2014-2019)
Table: Refining Capacity and Refined Products Production (Saudi Arabia 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
Table: Saudi Arabia Fuel Price Reform, December 2015
Table: Refined Products Consumption* (Saudi Arabia 2014-2019)
Table: Refined Products Consumption* (Saudi Arabia 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
Table: Gas Consumption (Saudi Arabia 2014-2019)
Table: Gas Consumption (Saudi Arabia 2020-2025)
Trade - Oil
Crude Oil
Latest Updates
Structural Trends
Table: Crude Oil Net Exports (Saudi Arabia 2014-2020)
Table: Crude Oil Net Exports (Saudi Arabia 2020-2025)
Refined Fuels
Latest Updates
Structural Trends
Table: Refined Fuels Net Exports (Saudi Arabia 2014-2019)
Table: Refined Fuels Net Exports (Saudi Arabia 2020-2025)
Trade - Gas (Pipeline and LNG)
Structural Trends
Industry Risk Reward Index
Middle East - Oil & Gas Risk/Reward Index
Table: Middle East Oil & Gas Risk/Reward Index
Upstream: Index Resilient In Lower Price Environment
Table: Middle East Upstream Oil & Gas Risk/Reward Index
Downstream: Limited Opportunities
Table: Middle East Downstream Oil & Gas Risk/Reward Index
Saudi Arabia - Risk/Reward Index
Market Overview
Saudi Arabia Energy Market Overview
Regulatory Overview
Licensing Regime
Fiscal Regime
Table: Saudi Arabia PCA Main Fiscal Terms
Oil And Gas Infrastructure
Oil Refineries
Table: Saudi Arabia Oil Refineries
Oil Terminals/Ports
Oil Pipelines
Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
Table: Key Players In Saudi Arabia's Oil & Gas Sector
Company Profile
Chevron
ExxonMobil Saudi Arabia
Saudi Aramco
Shell Saudi Arabia
Other Summaries
Regional Overview
Middle East Oil And Gas Regional Overview
Oil Production: Weak Prices Have Limited Impact On Growth
Oil Consumption: Gradual Subsidy Reform To Temper Demand Growth
Refining Capacity: 2mn b/d Of New Capacity By 2020
Gas Production: Low Oil Prices Hinder Gas Progress
Gas Consumption: Switch To Gas Power Will Boost Demand
Table: Middle East - Oil And Gas Production, Refining Capacity And Trade (2013-2024)
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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