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  5. > Hungary Oil and Gas Report Q3 2016

Hungary Oil and Gas Report Q3 2016

  • July 2016
  • -
  • Business Monitor International
  • -
  • 73 pages

Includes 3 FREE quarterly updates

BMI View: With small and declining hydrocarbon reserves, no exploration or field development activitiestaking place and a ban on hydraulic fracking, Hungary holds a very weak position in the upstream sector.While the country boasts an efficient downstream sector, rapidly rising domestic fuels consumption will turnHungary into a net importer of refined products in 2018.Latest Updates And Structural Trends

- According to reports in Natural Gas Europe, UK-listed JKX Oil and Gas will increase its focus on gasprospects in Hungary and Slovakia in 2016, after the company faced disappointing results in Ukraineduring 2015. JKX Oil and Gas has 100% interest in six production licences in Hungary.

- As of April 2016, Hungary and Croatia were negotiating bidirectional flows of natural gas between thetwo countries (ICES). Hungary expects to import natural gas from Croatia after the completion of KrkLNG project on Croatia's Adriatic shore.

- Hungary has very small proven oil and gas reserves and, currently, there are no exploration activitiestaking place in the country. We don't expect our bearish forecasts to change in the foreseeable future asthe government has imposed a ban on hydraulic fracking.

- Limited oil reserves and no exploration or development activities will push Hungary's already small oilproduction even lower. Production volumes will contract from 19,750b/d in 2015 to around 14,650b/d in2025.

- Hungary produced 72,450b/d of refined fuels in 2015. Diesel and motor gasoline accounted for around60% of the output. Continued investment in the country's refining infrastructure will sustain largely stableoutput of refined products across the forecast period to 2025.

- Domestic consumption of refined products will increase steadily throughout our forecast period on theback of strong macro fundamentals, especially on the manufacturing and private consumption side.Overall demand will grow from 152,900b/d in 2056 to 216,400b/d in 2025.

Table Of Contents

Hungary Oil and Gas Report Q3 2016
BMI Industry View 7
Table: Headline Forecasts (Hungary 2014-2020) 7
Latest Updates And Structural Trends 7
SWOT 9
Oil and Gas SWOT 9
Industry Forecast 11
Upstream Exploration 11
Latest Updates 11
Structural Trends 11
Table: Proven Oil and Gas Reserves (Hungary 2014-2019) 12
Table: Proven Oil and Gas Reserves (Hungary 2020-2025) 12
Upstream Projects 13
Table: Hungary - Main Upstream Projects 13
Upstream Production - Oil 14
Latest Updates 14
Structural Trends 14
Table: Oil Production (Hungary 2014-2019) 15
Table: Oil Production (Hungary 2020-2025) 16
Upstream Production - Gas 17
Latest Updates 17
Structural Trends 17
Table: Gas Production (Hungary 2014-2019) 18
Table: Gas Production (Hungary 2020-2025) 19
Refining 20
Latest Updates 20
Structural Trends 20
Table: Refining Capacity and Refined Products Production (Hungary 2014-2019) 22
Table: Refining Capacity and Refined Products Production (Hungary 2020-2025) 22
Refined Fuels Consumption 23
Latest Updates 23
Structural Trends 23
Table: Refined Products Consumption* (Hungary 2014-2019) 24
Table: Refined Products Consumption* (Hungary 2020-2025) 25
Gas Consumption 26
Latest Updates 26
Structural Trends 26
Table: Gas Consumption (Hungary 2014-2019) 27
Table: Gas Consumption (Hungary 2020-2025) 28
Trade - Oil 29
Crude Oil 29
Latest Updates 29
Structural Trends 29
Table: Crude Oil Net Exports (Hungary 2014-2020) 30
Table: Crude Oil Net Exports (Hungary 2020-2025) 31
Refined Products 31
Latest Updates 31
Structural Trends 31
Table: Refined Fuels Net Exports (Hungary 2014-2019) 32
Table: Refined Fuels Net Exports (Hungary 2020-2025) 33
Trade - Gas (Pipeline And LNG) 34
Latest Updates 34
Structural Trends 34
Table: Gas Net Exports (Hungary 2014-2019) 36
Table: Gas Net Exports (Hungary 2020-2025) 37
Industry Risk Reward Index 38
Central And Eastern Europe Oil and Gas Risk/Reward Index 38
Table: CEE: High Risk, Low Reward 38
Table: CEE Upstream, Downstream And Overall Risk/Reward Index 39
Upstream: China Still The Target Market 39
Table: CEE Upstream Risk/Reward Index 41
Downstream: Turkish STAR Only Bright Spot In Weak Market 42
Table: CEE Downstream Risk/Reward Index 44
Hungary - Risk/Reward Index 46
Upstream Index - Overview 46
Upstream Index - Rewards 46
Upstream Index - Risks 46
Downstream Index - Overview 47
Market Overview 48
Hungary Energy Market Overview 48
Regulatory Structure 48
Fiscal Regime 48
Licensing Regime 49
Oil And Gas Infrastructure 50
Oil Refineries 50
Table: Refineries In Hungary 50
Service Stations 51
Oil Storage Facilities 51
Oil Pipelines 51
Gas Storage Facilities 52
Gas Pipelines 52
Table: Gas Pipeline Infrustucture 52
Competitive Landscape 53
Competitive Landscape Summary 53
Table: Key Players - Hungary Oil and Gas Sector 54
Table: Key Upstream Player 54
Table: Key Downstream Players 54
Company Profile 55
MOL 55
Latest Updates 55
Table: Major Upstream Assets in Hungary 56
Table: Key Financial Data (USDmn) 57
Regional Overview 58
Central And Eastern Europe Oil and Gas Regional Overview 58
Oil Production: Oil Powerhouses Falter On Weak Prices 58
Oil Consumption: Short-Term Weakness As Russia Struggles 59
Refining Capacity: Modernisation Key To Competing 60
Natural Gas Production: Gas Ramp-Up Demand Dependent 61
Table: Central Asia-China Gas Pipeline Expansions 62
Gas Consumption: Demand Falters On Struggling Economies 63
Table: Central and Eastern Europe Oil and Gas Production and Consumption, Refining Capacity and Trade 64
Glossary 66
Table: Glossary Of Terms 66
Methodology 68
Industry Forecast Methodology 68
Source 70
Risk/Reward Index Methodology 70
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 72
Table: Weighting 73

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