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  5. > Philippines Oil and Gas Report Q1 2016

Philippines Oil and Gas Report Q1 2016

  • January 2016
  • -
  • Business Monitor International
  • -
  • 102 pages

BMI View: Stagnant production and rising consumption will ensure that the Philippines remains a netimporter of both crude oil and refined fuels over 2015-2024. The start-up of LNG imports in 2016 via thePagbilao LNG terminal will free domestic gas demand to surpass production, paving the way for greatergas use in several sectors including power, industrial and the residential sectors.The main trends and developments we highlight for the Philippines' oil and gas sector are:

- We forecast a decline in the Philippines' proved oil and gas reserves, as sustained weakness in global oilprices slowdown exploration, which in turn limits the chances of making new discoveries.

- Crude oil production will fluctuate around the 25,000b/d-28,000b/d range throughout our forecast periodto 2024. We note significant downside risk to our forecast particularly from 2019, as these are based onprojects where final investment decisions have not been made.

- While Phase II upgrades at the Malampaya will boost natural gas production to 2016, natural declineswill weigh on overall output thereafter. A decision to proceed with Phase III for Malampaya poses upsiderisk to this forecast.

Table Of Contents

Philippines Oil and Gas Report Q1 2016
BMI Industry View 7
Table: Headline Forecasts (Philippines 2013-2019) 7
SWOT 9
Oil and Gas SWOT 9
Industry Forecast 10
Upstream Exploration 10
Latest Updates 10
Structural Trends 10
Table: Proven Oil and Gas Reserves (Philippines 2013-2018) 11
Table: Proven Oil and Gas Reserves (Philippines 2019-2024) 12
Upstream Projects 13
Table: Philippines - Key Upstream Projects 13
Upstream Production - Oil 15
Latest Updates 15
Structural Trend 15
Table: Oil Production (Philippines 2013-2018) 16
Table: Oil Production (Philippines 2019-2024) 17
Upstream Production - Gas 18
Latest Updates 18
Structural Trends 18
Table: Gas Production (Philippines 2013-2018) 20
Table: Gas Production (Philippines 2019-2024) 20
Refining 21
Latest Updates 21
Structural Trends 21
Table: Refining Capacity and Refined Products Production (Philippines 2013-2018) 23
Table: Refining Capacity and Refined Products Production (Philippines 2019-2024) 23
Refined Fuels Consumption 24
Latest Updates 24
Structural Trends 24
Table: Refined Products Consumption* (Philippines 2013-2018) 26
Table: Refined Products Consumption* (Philippines 2019-2024) 26
Gas Consumption 27
Latest Updates 27
Structural Trends 27
Table: Gas Consumption (Philippines 2013-2018) 29
Table: Gas Consumption (Philippines 2019-2024) 29
Trade - Oil 30
Crude Oil Trade 30
Latest Updates 30
Structural Trends 30
Table: Crude Oil Net Exports (Philippines 2013-2018) 32
Table: Crude Oil Net Exports (Philippines 2019-2024) 33
Fuels Trade 33
Latest Updates 33
Structural Trends 33
Table: Refined Fuels Net Exports (Philippines 2013-2018) 35
Table: Refined Fuels Net Exports (Philippines 2019-2024) 36
Trade - Gas (Pipeline And LNG) 37
Latest Updates 37
Structural Trends 37
Supply Sources 38
Table: Gas Net Exports (Philippines 2013-2018) 39
Table: Gas Net Exports (Philippines 2019-2024) 39
Industry Risk Reward Ratings 40
Industry Risk/Reward Index 40
Table: Asia: Upstream Risk/Reward Index 41
Table: Asia: Downstream Risk/Reward Index 43
Philippines - Risk/Reward Index 46
Upstream Index - Overview 46
Upstream Index - Rewards 46
Upstream Index - Risks 46
Downstream Index - Overview 46
Market Overview 48
Philippines Energy Market Overview 48
Regulatory Regime 48
Licensing Rounds 50
Table: PECR-5: Available Licences 50
Oil And Gas Infrastructure 51
Oil Refineries 51
Table: Oil Refineries 51
Oil Storage Facilities 51
Service Stations 51
LNG Terminals 52
Table: LNG Terminals In The Philippines 52
Gas Pipelines 52
Competitive Landscape 54
Competitive Landscape Summary 54
Table: Key Players - Philippines Oil And Gas Sector 55
Company Profile 56
Philippine National Oil Company (PNOC) 56
Petron 61
Shell Philippines 65
Chevron Philippines 71
BCP Energy/Nido Petroleum 75
Other Summaries 79
Regional Overview 84
Asia - Weak Oil Prices Will Hit Region's Long-Term OandG Production 84
Glossary 95
Table: Glossary Of Terms 95
Methodology 97
Industry Forecast Methodology 97
Source 99
Risk/Reward Index Methodology 99
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 101
Table: Weighting 102

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