Iran Oil and Gas Report Q1 2012

Friday, Feb 17, 2012

Research and Markets (http://www.researchandmarkets.com/research/df9c17/iran_oil_and_gas_r) has announced the addition of the "Iran Oil and Gas Report Q1 2012" report to their offering.

“Iran Oil and Gas Report Q1 2012”

Bmi View

One of the world's largest holders of oil and natural gas resources, Iran is a significant producer of both. However, international sanctions have significantly dented the country's short- to medium-term prospects. So long as the confrontation between Iran and the West continues, BMI retains a largely bearish view of Iran's energy sector, as sanctions have hit the country's LNG and refining projects, and even made it more difficult for importers to pay for oil shipments.

BMI Highlights the Following Trends and Developments in Iran's Oil and Gas Sector:

• BMI sees a very slow rise in Iranian oil production over the forecast period, from an estimated 4.2mn barrels per day (b/d) in 2011 to 4.6mn b/d by 2021.
• Much of this increase will be driven by growth in natural gas liquids (NGL) production rather than crude output, as NGLs are not governed by OPEC production quotas.
• Subsidy reforms enacted in December 2010 have cut domestic consumption of refined fuels, resulting in a fall in BMI's oil and gas consumption forecasts.
• BMI does not foresee a significant rise in crude exports or refining capacity, although gas exports are likely to rise with the completion of a planned pipeline to Pakistan.
• Both proven oil and gas reserves are set to decline over the forecast period, by 12% and 5%, respectively.

Iran's dependence on oil prices leads to high volatility with regard to the country's export revenues. BMI's assumptions of a slower growth in China, a faltering recovery in the US and a worsening eurozone debt crisis, clearly pose a threat to global oil demand. BMI assumes OPEC basket oil prices will fall from US$101.90 per barrel (bbl) in 2011 to US$99.38/bbl in 2012, thus creating downside risk to Iran's macroeconomic outlook.

About This Report:

Business Monitor International's Iran 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 Iran's oil and gas industry.

Source: Business Wire

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