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Hungary Oil and Gas Report Q2 2016

  • March 2016
  • -
  • Business Monitor International
  • -
  • 88 pages

Includes 3 FREE quarterly updates

BMI View: Despite its efficient refining sector and favourable regulatory environment, Hungary's weakupstream profile renders the country one of the less attractive oil and gas markets in Central and EasternEurope. Small and depleting reserves will push Hungary's oil and gas production lower over the comingdecade, thus making the country increasingly dependent on energy imports from Russia.

Latest Updates And Structural Trends

- In January 2016, UK-based JKX Oil & Gas won three 35-year production licences: Pely I (18sq km);Jaszkiser II (6sq km); and Emod V (100sq km). This increased the total number of the company'sproduction licenses in Hungary to six.

- In April 2015, the Hungarian government published the latest licensing round for eight oil and gasconcession blocks. According to reports in late November 2015, O&GD Central was awarded fourblocks (Berettyóújfalu, Mogyoród, Nagykáta and Ócsa); state-owned Magyar Olaj-és Gázipari Nyrt(MOL) was awarded two blocks (Battonya-Pusztaföldvár Észak and Dány); Pnabridge Hungary wonthe bid for the Püspökladány block; and Horizon Energy secured the Lakócsa concession.

- We maintain our view that small and declining oil reserves will drive crude and liquids production downthroughout our forecast period. From the estimated 2016 output of 18,700b/d, total production is expectedto shrink to 16,600b/d in 2020 and continue falling to 14,400b/d by 2025.

Table Of Contents

Hungary Oil and Gas Report Q2 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) 15
Upstream Production - Gas 16
Latest Updates 16
Structural Trends 16
Table: Gas Production (Hungary 2014-2019) 17
Table: Gas Production (Hungary 2020-2025) 18
Refining 19
Latest Updates 19
Structural Trends 19
Table: Refining Capacity and Refined Products Production (Hungary 2014-2019) 21
Table: Refining Capacity and Refined Products Production (Hungary 2020-2025) 21
Refined Fuels Consumption 22
Latest Updates 22
Structural Trends 22
Table: Refined Products Consumption (Hungary 2014-2019) 23
Table: Refined Products Consumption (Hungary 2020-2025) 24
Gas Consumption 25
Latest Updates 25
Structural Trends 25
Table: Gas Consumption (Hungary 2014-2019) 26
Table: Gas Consumption (Hungary 2020-2025) 27
Trade - Oil 28
Crude Oil Net Trade 28
Latest Updates 28
Structural Trends 28
Table: Crude Oil Net Exports (Hungary 2014-2019) 29
Table: Crude Oil Net Exports (Hungary 2020-2025) 30
Refined Products Net Trade 30
Latest Updates 30
Structural Trends 30
Table: Refined Fuels Net Exports (Hungary 2014-2019) 31
Table: Refined Fuels Net Exports (Hungary 2020-2025) 32
Trade - Gas (Pipeline And LNG) 33
Latest Updates 33
Structural Trends 33
Table: Gas Net Exports (Hungary 2014-2019) 35
Table: Gas Net Exports (Hungary 2020-2025) 36
Industry Risk Reward Index 37
Central And Eastern Europe - Oil and Gas Risk/Reward Index 37
Table: Regional Risk/Reward Index Averages - High Risk, Low Reward In Central And Eastern Europe 37
Table: Central And Eastern Europe - Upstream, Downstream And Overall Risk/Reward Index 38
Upstream: China Still The Target Market 39
Table: Central And Eastern Europe Upstream Risk/Reward Index 41
Downstream: Turkish STAR Only Bright Spot In Weak Market 42
Table: Central And Eastern Europe - Downstream Risk/Reward Index 44
Hungary - Risk/Reward Index 46
Hungary Upstream Index - Overview 46
Hungary Upstream Index - Rewards 46
Hungary Upstream Index - Risks 46
Hungary 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
Agip Hungaria 55
MOL 58
OMV Hungary 66
Shell Hungary 68
Other Summaries 71
Regional Overview 73
Central And Eastern Europe Oil And Gas Regional Overview 73
Oil Production: Output Growth Stalling 73
Oil Consumption: Weak EM Growth Softens Demand 74
Refining Capacity: Modernisation Over Capacity Growth 75
Natural Gas Production: Gas Ramp-Up Depends On China's Hunger 76
Table: Central Asia-China Gas Pipeline Expansions 77
Gas Consumption: Demand Falters On Struggling Economies 78
Table: Central And Eastern Europe - Oil And Gas Production And Consumption, Refining Capacity And Trade 79
Glossary 81
Table: Glossary Of Terms 81
Methodology 83
Industry Forecast Methodology 83
Source 85
Risk/Reward Index Methodology 85
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 87
Table: Weighting 88

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