DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/cbbea1/belgium_oil_and_ga) has announced the addition of the "Belgium Oil and Gas Report Q2 2011" report to their offering.
Business Monitor International's Belgium 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 Belgium's oil and gas industry.
The new Belgium Oil & Gas Report from BMI forecasts that the country will account for 6.11% of developed European regional oil demand by 2015, while making no appreciable contribution to supply. In developed Europe, overall oil consumption was an estimated 13.02mn barrels per day (b/d) in 2010. It is set to recover to around 13.18mn b/d by 2015. Developed Europe regional oil production was 6.96mn b/d in 2001 and averaged an estimated 4.40mn b/d in 2011. It is set to fall to just 3.53mn b/d by 2015. Oil imports are growing steadily because supply is contracting and demand is rising, albeit slowly. Net crude imports were an estimated 8.62mn b/d in 2010 and are expected to reach 9.65mn b/d in 2015. Norway will remain the region's only major net exporter, with the UK a growing net importer.
The developed Europe region consumed an estimated 416.5 billion cubic metres (bcm) of natural gas in 2010, with demand of 457.1bcm targeted for 2015, representing 9.7% growth. Production of an estimated 255.7bcm in 2010 is set to fall to 254.0bcm in 2015, which implies net imports rising from the estimated 2010 level of 160.8bcm to some 203.1bcm by the end of the period. Belgium's share of gas consumption in 2010 is estimated at 4.20%, while it made no contribution to production. By 2015, its share of gas consumption is forecast to be 4.02%.
The 2010 full-year outturn was US$77.45/bbl for OPEC crude, which delivered an average for North Sea Brent of US$80.34/bbl and for West Texas Intermediate (WTI) of US$79.61/bbl. The BMI price target of US$77 was reached thanks to the early onset of particularly cold weather, which drove up demand for and the price of heating oil during the closing weeks of the year.
BMI set the 2011 supply, demand and price forecasts in early January, targeting global oil demand growth of 1.53% and supply growth of 1.91%. With OECD inventories at the top of their five-year average range, we set a price forecast of US$80/bbl average for the OPEC basket in 2011. The unprecedented wave of popular uprisings in the Middle East and North Africa (MENA) that followed the removal of Tunisian President Ben Ali on January 14 has obviously fundamentally altered our outlook, particularly since the unrest spread to Libya in mid-February.
Key Topics Covered:
Executive Summary
SWOT Analysis
Belgium Energy Market Overview
Global Oil Market Outlook
Regional Energy Market Overview
Industry Forecast Scenario
Oil And Gas Infrastructure
Macroeconomic Outlook
Competitive Landscape
Company Monitor
- Total
- ExxonMobil
- Petroplus
- Distrigas
- GDF Suez
Oil And Gas Outlook: Long-Term Forecasts
Glossary Of Terms
Oil And Gas Ratings: Revised Methodology
For more information visit http://www.researchandmarkets.com/research/cbbea1/belgium_oil_and_ga