DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/3a709e/egypt_oil_and_gas) has announced the addition of the "Egypt Oil and Gas Report Q3 2011" report to their offering.
The Egypt 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 Egypt's oil and gas industry.
The latest Egypt Oil & Gas Report from BMI forecasts that the country will account for 20.56% of African regional oil demand by 2015, while providing 5.28% of supply. African regional oil use of 3.06mn barrels per day (b/d) in 2001 rose to an estimated 3.63mn b/d in 2010. It should average 3.62mn b/d in 2011 and then rise to around 4.09mn b/d by 2015. Regional oil production was 8.08mn b/d in 2001, and in 2010 averaged an estimated 10.74mn b/d. After dropping to an estimated 9.66mn b/d in 2011 because of the loss of Libyan volumes, it is set to rise to 12.91mn b/d by 2015. Oil exports are growing steadily, because demand growth is lagging behind the pace of supply expansion. In 2001, the region was exporting an average of 6.02mn b/d. This total rose to an estimated 8.15mn b/d in 2010 and is forecast to reach 9.85mn b/d by 2015. Nigeria has the greatest production growth potential, with Angolan exports also set to climb significantly.
In terms of natural gas, the region in 2010 consumed an estimated 120.6bn cubic metres (bcm), with demand of 162.3bcm forecast for 2015. Production of an estimated 208.7bcm in 2010 should reach 295.2bcm in 2015, which implies net exports rising from an estimated 105bcm to 151bcm in 2015. In 2010, Egypt consumed an estimated 37.31% of the region's gas, with its market share forecast at 34.87% by 2015. It contributed an estimated 30.67% to 2010 regional gas production and by 2015 will account for 26.08% of supply.
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 a barrel (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.
Read more inside Egypt Oil and Gas Report Q3 2011
For more information visit http://www.researchandmarkets.com/research/3a709e/egypt_oil_and_gas.