DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/e14496/singapore_oil_and) has announced the addition of the "Singapore Oil and Gas Report Q3 2011" report to their offering.
Business Monitor International's Singapore 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 Singapore's oil and gas industry.
The latest Singapore Oil & Gas Report from BMI forecasts that the country will account for 3.71% of Asia Pacific regional oil demand by 2015, while not contributing to supply.
Market Growth
Global GDP growth in 2011 is forecast at 3.5%, 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. Singapore's real GDP growth in 2010 stood at 14.5%, with the forecast average annual increase put at 6.2% in 2010-2015.
There is no domestic oil or gas production but there is an active downstream segment, with extensive international oil company (IOC) involvement in refining and petrochemicals. Oil consumption beyond 2009 is forecast to increase by around 3% per annum to 2015, implying demand of 1.09mn b/d by the end of the forecast period. Gas demand and imports are forecast to increase from an estimated 10.0bcm in 2010 to 13.7bcm by 2015.
Oil Consumption
Between 2010 and 2020, we are forecasting an increase in Singapore's domestic oil consumption from 946,000b/d to 1.27mn b/d, with the island's refining capacity rising from 1.39mn b/d to 1.55mn b/d. Gas demand is expected to rise from around 10.0bcm in 2010 to a possible 19.7bcm by 2020, driven by power generation requirements. Liquefied natural gas (LNG) imports are expected to commence in 2013. Details of BMI's 10-year forecasts, which provide regional and country-specific projections, can be found later in this report.
Business Environment Ratings
Singapore holds 11th place, above Thailand, in BMI's composite Business Environment (BE) league table. The country ranks equal 12th (alongside Hong Kong) in BMI's updated upstream Business Environment ratings, thanks to a virtual absence of hydrocarbon resources. The score reflects the limited involvement of the government in upstream oil activities and an exceptionally healthy country risk profile, which partly offset the lack of reserves and output growth potential. The country sits ahead of South Korea and well clear of bottom-placed Taiwan in the upstream league table.
Singapore ranks fourth, behind Japan, in BMI's downstream Business Environment ratings, reflecting its relatively high level of oil consumption, increasing gas demand, established modern refining capability, fuels export capability and a relatively low level of retail site intensity. It is just one point behind Japan, but two clear of South Korea, and seems likely to retain its current position.
Companies Mentioned:
- Singapore Petroleum Company
- Chevron
- ExxonMobil Singapore
- Royal Dutch Shell
- BG Group
- Ramba Energy
For more information visit http://www.researchandmarkets.com/research/e14496/singapore_oil_and.