Long known for a good above ground risk profile and meagre below ground prospects, Hungary says it may need to scramble to bolster petroleum reserves due to its near complete reliance on Russia in light of the widening economic aftershocks of the Russia -Ukraine situation
The main trends and developments for Hungary's oil & gas sector are
* In July 2013, Falcon Oil & Gas completed announced a gas show in the first well of an agreed three-well drilling exploration programme with Serbia's NIS (owned 56% by Gazprom), to target the Algyö Play. Testing of the well began in November 2013, with the second and third wells planned to be completed by Q4 2014. Explorer Ascent Resources has estimated that around 50% of the tight gas in the Petisovci-Lovaszi area (on the Hungary/Slovenia border) can be recovered. Proven and probable reserves are almost 12bn cubic metres (bcm). However, while prospects remain good, Ascent restructured in 2013, selling its stake to PetroHungaria.
* Gas consumption and production are both on the downward slope. We forecast domestic production of 2.1 bcm in 2015 and consumption continuing its precipitous fall to arrive at 9.9 bcm. An enfeebled economy causes us to forecast continued declines in demand though 2018 when gas consumption will bottom out at...
Full Report Details at
- http://www.fastmr.com/prod/888077_hungary_oil_gas_report_q4_2014.aspx?afid=101
The Hungary Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Hungary including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.
BMI's Hungary Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Hungarian oil and gas industry.
Key Benefits
* Benchmark BMI's independent oil and gas industry forecasts for Hungary to test consensus views - a key input for successful budgeting and strategic business planning in the Hungarian oil and gas market.
* Target business opportunities and risks in the Hungarian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Hungary.
* Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
Coverage
BMI Industry View
Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.
Regional Overview
Regional perspective on size and value of industry sector; comparative rankings by production, refining, imports and exports of oil, gas and LNG.
Business Environment Rankings
BMI's Oil and Gas Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (independents, NOCs, IOCs and oil services companies) in the upstream and downstream markets.
The rankings methodology makes sophisticated use of more than 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
Oil Market Outlook and Oil Products Outlook
Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2018 for oil, gas and oil products
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Pricing: Oil price (US$/bbl, WTI, Brent, OPEC basket, Urals); Oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene - US$/bbl) at global hubs
Production, Consumption, Capacity and Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (`000b/d); Proven gas reserves (tcm), production and consumption (bcm)
Imports and Exports: Oil exports/imports (`000b/d), value of oil exports/imports (US$mn - BMI base case); Value of oil exports at constant US$50/bbl and constant US$100/bbl (US$mn); Gas exports/imports (bcm), Value of gas exports/imports (US$mn); Value of gas exports/imports at constant US$50/bbl and US$100/bbl (US$mn); Value of petroleum exports/imports (US$mn); Value of petroleum exports/imports at constant US$50/bbl and US$100/bbl (US$mn)
BMI Macroeconomic Forecasts
BMI forecasts to end-2018 for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.
Competitive Landscape
Comparative company analyses by US$ sales, % share of total sales, number of employees, year established, ownership structure, oil production ('000b/d), gas production (bcm), downstream capacity ('000b/d) and % market share.
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
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