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Nigeria Oil and Gas Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 132 pages

Includes 3 FREE quarterly updates

The Main Trends And developments For Nigeria's Oil And Gas Sector

- On the exploration front, the current situation is bleak. According to Baker Hughes, the rotary rig countin Nigeria for February 2016 was 6, which is nearly half the average figure for 2015 and well below theaverage of 15 for 2014. However, 3D seismic surveys are being conducted in the Lake Chad area with theNNPC Director Ibe Kackikwu very positive about a significant oil discovery.

- We expect total petroleum consumption to increase steadily from an estimated 317, 340b/d in 2016 toabout 426,200b/d by the end of our forecast period, led by the transport sector and the continued use ofdiesel power generators as backups to intermittent power supplies. The recent collapse of oil prices hashelped facilitate the removal of subsidies on gasoline, offering relief to the fragile refining sector.

- The financial vulnerability of indigenous companies to continued low oil prices has the potential to slowdown Nigeria's forecasted rise in production over the next three years. The Nigerian government'sincentives for indigenous companies - coupled by widespread divestments by international oil companies(IOCs) - have fuelled the prominence of smaller Nigerian producers. According to the Nigerian NationalPetroleum Corporation (NNPC), these companies make up 10 percent of total production, which isequivalent to 242,000 Barrels per day at 2015 production levels.

Table Of Contents

Nigeria Oil and Gas Report Q2 2016
BMI Industry View 7
Table: Headline Forecasts (Nigeria 2014-2020) 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 (Nigeria 2014-2019) 11
Table: Proven Oil and Gas Reserves (Nigeria 2020-2025) 12
Upstream Projects 14
Table: Upstream Project Database 14
Upstream Production - Oil 19
Latest Updates 19
Structural Trends 19
Table: Oil Production (Nigeria 2014-2019) 24
Table: Oil Production (Nigeria 2020-2025) 24
Upstream Production - Gas 27
Latest Updates 27
Structural Trends 27
Table: Gas Production (Nigeria 2014-2019) 31
Table: Gas Production (Nigeria 2020-2025) 31
Refining 31
Latest Updates 31
Structural Trends 32
Table: Refining Capacity and Refined Products Production (Nigeria 2014-2019) 35
Table: Refining Capacity and Refined Products Production (Nigeria 2020-2025) 36
Refined Fuels Consumption 36
Latest Updates 36
Structural Trends 36
Table: Refined Products Consumption* (Nigeria 2014-2019) 38
Table: Refined Products Consumption* (Nigeria 2020-2025) 38
Gas Consumption 38
Latest Updates 38
Structural Trends 38
Table: Gas Consumption (Nigeria 2014-2019) 41
Table: Gas Consumption (Nigeria 2020-2025) 41
Trade - Oil 41
Crude Oil 41
Latest Updates 41
Structural Trends 41
Table: Crude Oil Net Exports (Nigeria 2014-2020) 45
Table: Crude Oil Net Exports (Nigeria 2020-2025) 46
Refined Fuels 46
Latest Updates 46
Structural Trends 46
Table: Refined Fuels Net Exports (Nigeria 2014-2019) 48
Table: Refined Fuels Net Exports (Nigeria 2020-2025) 48
Trade - Gas (Pipeline and LNG) 48
Latest Updates 48
Structural Trends 48
Table: Gas Net Exports (Nigeria 2014-2019) 51
Table: Gas Net Exports (Nigeria 2020-2025) 51
Industry Risk/Reward Index 53
Africa - Oil and Gas Risk/Reward Index 53
Table: BMI Africa Oil and Gas Risk/Reward Index 53
Above-Ground Risks Dulling Below-Ground Potential 56
Table: BMI Africa Upstream Risk/Reward Index 56
Downstream Sector Holds Limited Opportunity 59
Table: BMI Africa Downstream Risk/Reward Index 59
Nigeria - Risk/Reward Index 61
Market Overview 63
Nigeria Energy Market Overview 63
Overview/State Role 63
Fiscal Regime 64
Table: Nigeria- Fiscal Terms 64
Table: Nigeria- Licenses And Contract Terms 65
The New Buhari Administration 65
Licensing Rounds 67
Oil and Gas Infrastructure 68
Oil Refineries 68
Oil Terminals/Ports 69
LNG Terminals 70
Gas Pipelines 70
Competitive Landscape 71
Competitive Landscape Summary 71
Table: Key Players - Nigerian Oil and Gas Sector 72
Table: Nigeria Upstream Players 73
Table: Nigeria Downstream Players 73
Company Profile 74
Nigerian National Petroleum Corporation (NNPC) 74
ExxonMobil 79
Eni 84
Total 90
Chevron 96
Royal Dutch Shell 102
Other Summaries 108
Regional Overview 116
Africa - Bullish Gas, Bearish Oil 116
Table: Africa Oil and Gas Production, Consumption, Refining Capacity And Trade 124
Glossary 125
Table: Glossary Of Terms 125
Methodology 127
Industry Forecast Methodology 127
Source 129
Risk/Reward Index Methodology 129
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 131
Table: Weighting 132

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