DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/11037e/colombia_oil_and_g) has announced the addition of the "Colombia Oil and Gas Report Q1 2011" report to their offering.
The Colombia Oil and Gas Report provides industry professionals and strategists, corporate analysts, oil and gas associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Colombia's oil and gas industry.
The latest Colombia Oil & Gas Report from BMI forecasts that the country will account for 2.60% of Latin American regional oil demand by 2015, while providing 10.49% of supply. Latin American regional use will average an estimated 7.80mn barrels per day (b/d) in 2010. It should rise to 7.96mn b/d in 2011 and reach 8.49mn b/d by 2015. Regional oil production in 2010 should average an estimated 10.02mn b/d. It is set to rise to 11.68mn b/d by 2015. Oil exports have been slipping, because demand growth has exceeded the pace of supply expansion. In 2001, the region was exporting an average of 3.37mn b/d. This total falls to an estimated 2.29mn b/d in 2010 and is forecast to slip further to 2.22mn b/d in 2015. The principal exporters will be Mexico, Venezuela, Colombia and Brazil.
In terms of natural gas, the region in 2010 will consume an estimated 208.5bn cubic metres (bcm), with demand of 263.9bcm targeted for 2015. Production of an estimated 221.0bcm in 2010 should reach 264.3bcm in 2015, and implies 0.4bcm of net imports at the end of the period. Colombias estimated share of gas consumption in 2010 is 4.32%, while its share of production is put at 4.98%. By 2015, its share of gas consumption is forecast to be 3.95%, with the country accounting for 4.54% of supply. For 2011, there is considerable oil demand and oil price uncertainty, but still a very strong possibility that oil will trend higher.
Colombian real GDP in 2010 is assumed by BMI to rise by 3.9%, and BMI are assuming an average annual increase of 4.6% in 2010-2015. The government is working successfully to encourage international oil company (IOC) investment and boost near-term domestic oil production, aided by state-owned Ecopetrol. These efforts have been proving highly effective, and BMI are now assuming oil and gas liquids production of 1.23mn b/d by 2015, with the country expected to pump 801,000b/d in 2010. Consumption beyond 2009 is forecast to increase by 2-3% per annum to 2015, implying demand of 221,000b/d by this time. The countrys export capability should therefore reach 1.11mn b/d by 2015. Gas consumption is forecast to increase from an estimated 9.0bcm in 2010 to 10.4bcm over the period, met by rising domestic production, which will also provide modest exports.
Between 2010 and 2020, BMI are forecasting an increase in Colombian oil production of 51.7%, with crude volumes peaking at 1.47mn b/d in 2018, before declining to 1.22mn b/d by 2020. Oil consumption between 2010 and 2020 is set to increase by 26.8%, with growth averaging an assumed 2.5% per annum towards the end of the period and the country using 250,000 b/d by 2020. Gas production is expected to rise gradually, from an estimated 11bcm in 2009 to 15bcm in 2018-2020. With demand growth of 34.4%, this implies peak export potential of 3.6bcm by 2018. Details of BMIs 10-year forecasts can be found in the appendix to this report.
For more information visit http://www.researchandmarkets.com/research/11037e/colombia_oil_and_g
Key Topics Covered:
- Executive Summary
- SWOT Analysis
- Colombia Energy Market Overview
- Global Oil Market Review
- Global Oil Market Outlook
- Oil Price Forecasts
- Regional Energy Market Overview
- Gas Supply And Demand
- Business Environment Ratings
- Colombia Upstream Rating Overview
- Colombia Downstream Rating Overview
- Business Environment
- Industry Forecast Scenario
- Key Risks To BMIs Forecast Scenario
- Oil And Gas Infrastructure
- Macroeconomic Outlook
- Competitive Landscape
- Company Monitor
- Oil And Gas Outlook: Long-Term Forecasts
- Glossary Of Terms
- Oil And Gas Ratings: Revised Methodology
- BMI Methodology
Companies Mentioned:
- Empresa Colombiana de Petrleos (Ecopetrol)
- BP Colombia
- Chevron Colombia
- Occidental de Colombia
- Petrobras Colombia
- TEPMA Colombia (Total)
- ExxonMobil Colombia
- Talisman Energy Summary
- Repsol YPF Summary
- Royal Dutch Shell Summary
- Gran Tierra Energy Summary
- CEPSA Summary
- Perenco Summary
- Petro Vista Energy Summary
- Pacific Rubiales Summary
- Maurel et Prom Summary
- Hocol Colombia Summary
- Petrominerales Summary
- Petrolifera Petroleum Summary
- Others Summary
For more information visit http://www.researchandmarkets.com/research/11037e/colombia_oil_and_g