DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/558dd4/denmark_oil_and_ga) has announced the addition of the "Denmark Oil and Gas Report Q1 2011" report to their offering.
BMI's Denmark Oil & Gas Report forecasts that the country will account for just 1.35% of Developed European regional oil demand by 2015, while contributing 5.14% to supply. In Developed Europe, overall oil consumption will have been an estimated 13.02mn barrels per day (b/d) in 2010. It is set to recover to around 13.24mn b/d by 2015. Developed Europe regional oil production was 6.96mn b/d in 2001, and in 2010 will have averaged an estimated 4.44mn b/d. It is set to fall to just 3.50mn b/d by 2015.
Oil imports are growing steadily because supply is contracting and demand is rising, albeit slowly. In 2010, net crude imports will have been an estimated 8.58mn b/d. By 2015, they are expected to have reached 9.73mn b/d. Norway will remain the only major net exporter, with the UK a net importer.
As regards natural gas, the Developed Europe region in 2010 will have consumed an estimated 419.5bcm, with demand of 470.7bcm targeted for 2015, representing 12.2% growth. Production of an estimated 259.3bcm in 2010 is set to fall to 253.0bcm in 2015, which implies net imports rising from the estimated 2010 level of 160.2bcm to some 217.7bcm by the end of the period. Denmarks share of gas consumption in 2010 will have been an estimated 1.07%, while it will have contributed around 3.16% to production.
For 2010 as a whole, BMI assume an average OPEC basket price of US$77.00/bbl (+26.5% y-o-y). The 2010 US WTI price is now put at US$79.16/bbl. BMI is assuming an OPEC basket price of US$80.00/bbl in 2011, with WTI averaging US$82.25, Brent at US$82.46/bbl, Urals delivering around US$81.21 and the Dubai average being US$80.74/bbl. The central assumption for 2012 is an OPEC price averaging US$85.00/bbl, delivering WTI at approximately US$87.40 and Brent at US$87.60/bbl. From 2013 onwards, BMI are using an average OPEC price of US$90.00/bbl.
For the whole of 2010, the BMI assumption for the global gasoline price is an average US$87.49/bbl, representing a year-on-year rise of 24.7%. The global gasoil forecast is for an average price of US$88.00/bbl, probably peaking in December 2010 at more than US$95/bbl. The full-year outturn represents a 27.6% increase from the 2009 level. For 2010, the annual jet price level is forecast to be US$89.500/bbl. This compares with US$70.66/bbl in 2009. The 2010 average naphtha price is put by BMI at US$77.65/bbl, up almost 31% from the previous years level.
Between 2010 and 2020, BMI forecast a decrease in Danish oil production of 19.2%, with output slipping from an estimated 235,000b/d in 2010 to a low of 175,000b/d in 2014, before rebounding to 190,000b/d by the end of the 10-year forecast period. Given a mere 4.0% increase in oil consumption over the period, exports of 60,000b/d will have shrunk to just 8,000b/d by 2020. Gas production should fall from the estimated 2010 level of 8.2bcm to 5.5bcm by 2020. Given gas demand rising by 10.5% during the period, net exports of just 0.3bcm will be available by 2020. Details of BMIs 10-year forecasts can be found in the appendix to this report.
For more information visit http://www.researchandmarkets.com/research/558dd4/denmark_oil_and_ga
Key Topics Covered:
- Executive Summary
- SWOT Analysis
- Denmark Energy Market Overview
- Oil Supply, Demand And Price Outlook
- Industry Forecast Scenario
- Oil And Gas Infrastructure
- Competitive Landscape
- Company Monitor
- Oil And Gas Outlook: Long-Term Forecasts
- Glossary Of Terms
- BMI Methodology
Companies Mentioned:
- DONG Energy
- Royal Dutch Shell
- Maersk Oil
- Hess
- Statoil
- Faroe Petroleum