DUBLIN--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/04a82b/hong_kong_oil_and) has
announced the addition of the "Hong Kong Oil and Gas Report Q4 2009" report to
their offering.
This Hong Kong 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 Hong Kong's oil and gas industry
The latest Hong Kong Oil & Gas Report from BMI forecasts that the country will
account for just 1.17% of Asia Pacific regional oil demand by 2013, while making
no contribution to supply. Asia Pacific regional oil use of 21.40mn barrels per
day (b/d) in 2001 reached 25.67mn b/d in 2008. It should average 24.83mn b/d in
2009, then rise to around 28.51mn b/d by 2013. Regional oil production was just
under 8.41mn b/d in 2001, and averaged 8.45mn b/d in 2008. It is set to increase
to 8.75mn b/d by 2013. In 2001 the region was importing an average 12.99mn b/d.
This total had risen to an estimated 17.22mn b/d in 2008, and is forecast to
reach 19.76mn b/d by 2013.
In terms of natural gas, in 2008 the region consumed 459bn cubic metres (bcm)
and demand of 562bcm is targeted for 2013. Production of 356bcm in 2008 should
reach 488bcm in 2013, but implies net imports easing from an estimated 102bcm
per annum in 2008 to 74bcm in 2013. This is in spite of many Asian gas producers
being major exporters. Hong Kong's share of consumption in 2008 was 0.57%, while
it has no production. By 2013, its share of demand is forecast to be 0.60%.
For 2009 as a whole, the publisher is now assuming an average OPEC basket price
of US$55.00 per barrel (bbl), a 41.5% decline year-on-year (y-o-y). This
represents an upgrade from the US$52 forecast they have stuck with during the
past three quarters. Their OPEC basket assumption delivers likely Brent, WTI,
Urals and Dubai prices of US$56.30, US$57.50, US$55.60 and US$55.60/bbl
respectively. For 2010, the publisher expects to see a recovery to US$60.00/bbl
for the OPEC price (up from their previous forecast of US$58), gaining further
ground to US$65.00 in 2011 and to US$70.00/bbl in 2012. Their post-2010
forecasts are unchanged and the publisher is continuing to use a long-term price
assumption of US$70.00 for 2013-2018.
Key Topics Covered:
* Executive Summary
* SWOT Analysis
* Hong Kong Energy Market Overview
* Business Environment Ranking
* Business Environment
* Company Monitor
* Methodology & Risks To Forecasts
Companies Mentioned:
* Shell
* Chevron
* ExxonMobil
* Sinopec/China Resources
* CLP
* HK Electric
* HKCGC
For more information visit
http://www.researchandmarkets.com/research/04a82b/hong_kong_oil_and.
Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Copyright Business Wire 2009
