Recently published research from Business Monitor International, "Peru Oil & Gas Report Q4 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/17/2014 -- Despite continued opposition from environmentalist groups and the indigenous population, we maintain a broadly bullish outlook on Peru's hydrocarbons sector. Given the country's comparatively favourable business environment, attractive fiscal and licensing terms and a broadly supportive government, we forecast an uptick in exploration activity feeding growing oil and gas production over our forecast period. In particular, we see significant upside potential stem from proposed revisions to the country's hydrocarbons law, which could remove major bureaucratic obstacles to exploration and accelerate development of the country's sizeable resource base.
The main trends and developments we highlight in the Peruvian oil and gas sector are:
- Peru's natural gas prospects remain bright, led by continued development of its Ucayali basin. Opposition from environmental and indigenous groups remains strong, and so is the security threat posed by the insurgent group the Shining Path. Nevertheless, given the basin's high prospectivity, alongside firm government support for development, we forecast fairly robust natural gas production growth. We see output rise from 12.3bn cubic meters (bcm) in 2013 to 15.0bcm in 2018 and 17.8bcm by 2023.
- We expect gas demand will continue to rise over the forecast period, although at a slower pace than previously, protecting the country's net exporter status. We see consumption rise from an estimated 6.3bcm in 2013, to around 8bcm in 2018, reaching 10.6bcm by 2023.
- Despite our expectations for sluggish crude production, we anticipate Peru's total liquids output will continue rising - buoyed by natural gas liquids - from a total of 174,390 barrels per day (b/d) in 2013 to 194,600b/d in 2018 and 218,000b/d in 2023. Meanwhile oil demand, which averaged around 169,990 barrels per day (b/d) in 2013, is likely slump over the long term, hitting 172,530b/d in 2018 and 165,740b/d in 2023 as we see increasing efforts to move toward...
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The Peru Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Peru including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.
BMI's Peru Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Peruvian oil and gas industry.
- Benchmark BMI's independent oil and gas industry forecasts for Peru to test consensus views - a key input for successful budgeting and strategic business planning in the Peruvian oil and gas market.
- Target business opportunities and risks in the Peruvian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Peru.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View
Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.
Regional perspective on size and value of industry sector; comparative rankings by production, refining, imports and exports of oil, gas and LNG.
Business Environment Rankings
BMI's Oil and Gas Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (independents, NOCs, IOCs and oil services companies) in the upstream and downstream markets.
The rankings methodology makes sophisticated use of more than 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
Oil Market Outlook and Oil Products Outlook
Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2018 for oil, gas and oil products
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Pricing: Oil price (US$/bbl, WTI, Brent, OPEC basket, Urals); Oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene - US$/bbl) at global hubs
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