Market Research Logo

Spain Oil and Gas Report Q1 2015


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

Spain Oil and Gas Report Q1 2015

BMI View: Although current domestic production of oil and gas is negligible, with imports meeting around99% of current demand, we are witnessing a gradual but notable uptick in investment targeting Spain'supstream. The acceleration of onshore and offshore activity could cut Spain's hefty import bill, but there arepolitical and regulatory risks that hold sizeable downside risks to both conventional and unconventionalefforts. However, the environment ministry has recently allowed deepwater drilling off the Canary Islands,and the Supreme Court has granted Repsol the authorisation to start exploration after the permit had beenlegally challenged by local authorities. The local authorities had called for a referendum on November 232014. However the Madrid government successfully appealed to the Constitutional Court against the vote.

Also, in November 2013 the central government legalised the process of hydraulic fracturing. However,while we see brightening prospects for onshore unconventionals, this upside is unlikely to significantly alterproduction for within our forecast period: significant technical, environmental and political obstaclespreclude us from including significant shale gas production within our forecast period.

Tension between the central government and the local government of the Canaries continues. In 2013 thelocal government had legally challenged the permit granted to Repsol to initiate exploration. A SupremeCourt ruling had confirmed in November 2013 that exploration could take place. The company hastherefore been authorised to spend three years probing below the sea bed about 50 kilometres (30 miles)from the islands of Lanzarote and Fuerteventura. More recently the local government had announced areferendum on the 23rd of November 2014 to let the locals vote on the prospects of drilling in the area. Theconservative government in Madrid decided to appeal to the Constitutional Court against that referendum.The government challenged the vote on the same legal grounds it has used to get a planned referendum onindependence for the Catalonia region suspended. On November 18 Repsol started the exploration phase.


BMI Industry View
Table: Headline Forecasts (Spain 2012-2018)
SWOT
Industry Forecast
Upstream Exploration
Table: Proven Oil and Gas Reserves (Spain 2012-2017)
Table: Proven Oil and Gas Reserves (Spain 2018-2023)
Upstream Production - Oil
Table: Oil Production (Spain 2012-2017)
Table: Oil Production (Spain 2018-2023)
Upstream Production - Gas
Table: Gas Production (Spain 2012-2017)
Table: Gas Production (Spain 2018-2023)
Refining
Table: Refining Capacity and Refined Products Production (Spain 2012-2017)
Table: Refining Capacity and Refined Products Production (Spain 2018-2023)
Refined Fuels Consumption
Table: Refined Products Consumption* (Spain 2012-2017)
Table: Refined Products Consumption* (Spain 2018-2023)
Gas Consumption
Table: Gas Consumption (Spain 2012-2017)
Table: Gas Consumption (Spain 2018-2023)
Trade - Oil
Table: Crude Oil Net Exports (Spain 2012-2017)
Table: Crude Oil Net Exports (Spain 2018-2023)
Table: Refined Fuels Net Exports (Spain 2012-2017)
Table: Refined Fuels Net Exports (Spain 2018-2023)
Table: Total Net Oil Exports - Crude and Products (Spain 2012-2017)
Table: Total Net Oil Exports - Crude and Products (Spain 2018-2023)
Trade - Gas (Pipeline and LNG)
Table: Gas Net Exports (Spain 2012-2017)
Table: Gas Net Exports (Spain 2018-2023)
Industry Risk Reward Ratings
North America And Western Europe - Risk/Reward Ratings
Table: North America & Western Europe States Oil & Gas Risk/Reward Index
Upstream: US Nearly On Par With Canada
Table: Oil & Gas Upstream Risk/Reward Index
Western Europe Languishes Without Shale Outlook
Downstream: US Comes Out Tops
Table: Oil & Gas Downstream Risk/Reward Index
Spain - Risk/Reward Index
Spain Upstream Index
Spain Downstream Index
Market Overview
Spain Energy Market Overview
Overview/State Role
Licensing/Regulation
Government Policy
International Energy Relations
Oil & Gas Infrastructure
Oil Refineries
Table: Refineries In Spain
Service Stations
Oil Storage Facilities
Oil Terminals
Oil Pipelines
LNG Terminals
Table: Spain LNG Infrastructure
Gas Storage
Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
Table: Key Players - Spanish Oil And Gas Sector
Table: Key Downstream Players
Company Profile
Repsol
Gas Natural Fenosa
Other Summaries
Regional Overview
North America And Western Europe Regional
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)
Developed Europe - Regional Appendix
Table: Oil Consumption - Historical Data And Forecasts, 2011-2018 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Oil Production - Historical Data And Forecasts, 2011-2018 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Refinery Capacity - Historical Data And Forecasts, 2011-2018 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Gas Consumption - Historical Data And Forecasts, 2011-2018 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm)
Table: Gas Production - Historical Data And Forecasts, 2011-2018 (bcm)
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
Table: LNG Gas Imports (Exports) - Historical Data And Forecasts, 2011-2018 (bcm)
Table: LNG Gas Imports (Exports) - Long-Term Forecasts, 2015-2023 (bcm)
Spain - Total Hydrocarbons, 10-year Forecasts
Table: Total Hydrocarbons Production, Consumption and Net Exports (Spain 2012-2017)
Table: Total Hydrocarbons Production, Consumption and Net Exports (Spain 2018-2023)
Spain - Refined Products Breakdown, 10-year Forecasts
Table: Refined Petroleum Products, Production Breakdown (Spain 2012-2017)
Table: Refined Petroleum Products, Production Breakdown (Spain 2018-2023)
Table: Refined Petroleum Products, Consumption Breakdown (Spain 2012-2017)
Table: Refined Petroleum Products, Consumption Breakdown (Spain 2018-2023)
Table: Refined Petroleum Products, Net Exports Breakdown (Spain 2012-2017)
Table: Refined Petroleum Products, Net Exports Breakdown (Spain 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