DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/fd5b75/united_arab_emirat) has announced the addition of the "United Arab Emirates Oil and Gas Report Q4 2011" report to their offering.
BMI assumes that UAE real GDP rose by 1.4%% in 2010, and the author expects average annual growth of 3.35% in 2010-2015. The author expects oil demand to rise from an estimated 682,000b/d in 2010 to 771,000b/d in 2015, lagging BMI's underlying economic assumptions.
The UAE's share of Middle Eastern oil production will fall from 11.53% in 2010 to 10.09% in 2015, while its share of oil consumption is set to fall slightly from 7.28% to 7.06% in the same period.
Gas production should reach 62bcm by 2015, up from 51bcm in 2010. Consumption is expected to rise from 61bcm in 2010 to 77bcm by the end of the forecast period, requiring net imports of around 15.8bcm.
In light of the unrest in the Middle East and North Africa (MENA) region in H111, as well as the oil supply effects of the Libyan civil war, BMI has raised its benchmark OPEC Basket price forecast from US$80 to US$101.90/bbl for 2011 and from US$85 to US$97.50/bbl for 2012. The author expects Brent to average US$106.00/bbl in 2011 and US$101.50/bbl in 2012. BMI has kept its long-term (2014-20) price assumption of US$90/bbl in place.
Companies Mentioned:
- Abu Dhabi National Oil Company
- Dolphin Energy
- Emirates General Petroleum Corporation
- Emirates National Oil Company
- ExxonMobil
- BP
- Rosneft
- Total
- ConocoPhillips
- Royal Dutch Shell
- Korea National Oil Corporation
- Dana Gas
- Occidental Petroleum
- Japan Oil Development Company
- Cosmo Oil
- Abu Dhabi National Energy Company
- CNPC
- RAK Petroleum
For more information visit http://www.researchandmarkets.com/research/fd5b75/united_arab_emirat