We highlight the following trends and developments in Egypt's oil and gas sector:
- Positive sentiment towards operating in Egypt is returning after years of political turmoil. Exploration and production efforts have picked up over the last quarter with RWE Dea aiming to bring new gas online over the 2014 summer. The Egyptian national oil and gas companies are also stepping up gas developments, while BP announced it will bring in USD1.5bn of new investment.
- Egypt extended the bidding deadline for its latest concession auction from May 19 to July 3. The deadline for the 22 block round was reportedly changed to allow companies more time to conduct feasibility studies.
- Exploration efforts continue to show positive results and strong below-ground potential. Over recent months RWE Dea, Apache, IPR and Circle Oil have all made discoveries. In particular the Western Desert and the Nile Delta have proved the most prospective.
- Underinvestment in Egypt's upstream due to political instability and a difficult operating environment over the last three years has seen domestic consumption catch up with production. Egypt is a net importer of refined fuels, while no longer exports significant volumes of natural gas, with Jordan being its remaining market - albeit inconsistently. We expect this dynamic to continue over the coming years leaving Egypt few export opportunities.
- The potential to restart LNG exports has materialised after...
The Egypt Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Egypt 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 Egypt Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Egyptian oil and gas industry.Key Benefits
CoverageBMI Industry View
- Benchmark BMI's independent oil and gas industry forecasts for Egypt to test consensus views - a key input for successful budgeting and strategic business planning in the Egyptian oil and gas market.
- Target business opportunities and risks in the Egyptian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Egypt.
- 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.
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 productsBMI 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.
The installation of the el-Sisi government has improved investor sentiment in Egypt, which has been troubled by political and social instability. We anticipate a more stable environment for operators and investors over the coming years, though highlight uncertainties still persist. Our view has been supported by the positive news from smaller exploration and production companies in Egypt, which have stepped up operations. We expect this trend to continue with Egypt's strong below-ground potential too good to ignore.