DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4cd8f8/vietnam_oil_and_ga) has announced the addition of the "Vietnam Oil and Gas Report Q3 2011" report to their offering.
The latest Vietnam Oil & Gas Report from BMI forecasts that the country will account for 1.38% of Asia Pacific regional oil demand by 2015, while providing 4.80% of supply. Regional oil use of 20.6mn barrels per day (b/d) in 2001 reached an estimated 26.4mn b/d in 2010 and is forecast to rise to around 29.6mn b/d by 2015. Regional oil production was around 7.6mn b/d in 2001 and averaged an estimated 8.0mn b/d in 2010. It is set to increase to 8.2mn b/d by 2015. Oil imports are growing rapidly, because demand growth is outstripping the pace of supply expansion. In 2001, the region was importing an average 12.99mn b/d. This total rose to an estimated 18.37mn b/d in 2010 and is forecast to reach 21.41mn b/d by 2015. The principal importers will be China, Japan, India and South Korea. By 2015 the only net exporter will be Malaysia.
In terms of natural gas, in 2010 the region consumed around 511.5bn cubic metres (bcm) and demand of 653.9bcm is targeted for 2015. Production of an estimated 405.8bcm in 2010 should reach 556.7bcm in 2015, implying net imports falling from around 105.7bcm to 97.2bcm. Vietnam's estimated share of gas consumption in 2010 was an estimated 1.58%, while its share of production is put at 2.01%. By 2015, its share of gas consumption is forecast to be 2.44%, with the country accounting for 3.77% of supply.
Global GDP growth in 2011 is forecast at 3.6%, down from 4.3% in 2010. Growth in both the US and eurozone should be marginally higher than 2010, while Chinese economic expansion will slow and Japan's growth will slump to 0.7% as a result of the devastating earthquake and tsunami in March 2011. The oil price forecast for 2011 is US$98.90/bbl for the OPEC Basket, giving Brent at US$103/bbl and West Texas Intermediate (WTI) at US$92.30, although these differentials are subject to change. Vietnamese real GDP growth in 2010 was an estimated 6.8%, with a forecast average annual 7.0% increase in 2011-2015.
Companies Mentioned:
- PetroVietnam
- BP Vietnam
- Petronas Vietnam
- Zarubezhneft
- Vietgazprom
- ConocoPhillips
- Idemitsu Kosan
- Chevron
- Talisman Energy
- Premier Oil
- Soco International
- Total
- Petrolimex
For more information visit http://www.researchandmarkets.com/research/4cd8f8/vietnam_oil_and_ga