Abstract
Oil Market Outlook in Nigeria, 2010
Summary
This profile is the essential source for top-level energy industry data and
information. The report provides an overview of each of the key sub-segments
of the energy industry in Nigeria. It details the market structure, regulatory
environment, infrastructure and provides historical and forecasted statistics
relating to the supply/demand balance for each of the key sub-segments. It
also provides information relating to the crude oil assets (oil fields,
refineries, pipelines and storage terminals) in Nigeria. The report compares
the investment environment in Nigeria with other countries in the region. The
profiles of the major companies operating in the crude oil sector in Nigeria
together with the latest news and deals are also included in the report.
Scope
- Historic and forecast data relating to production, consumption, imports,
exports and reserves are provided for each industry sub-segment for the period
1996-2020.
- Historical and forecast data and information for all the
major oil fields, refineries, pipelines and storage terminals in Nigeria for
the period 2000-2013.
- Operator and equity details for major crude oil
assets in Nigeria.
- Key information relating to market regulations, key
energy assets and the key companies operating in the Nigeria’s energy
industry.
- Information on the top companies in the Nigeria including
business description, strategic analysis, and financial information.
-
Product and brand updates, strategy changes, R&D projects, corporate
expansions and contractions and regulatory changes.
- Key mergers and
acquisitions, partnerships, private equity and venture capital investments,
and IPOs.
Reasons to buy
- Gain a strong understanding of the country’s energy market.
-
Facilitate market analysis and forecasting of future industry trends.
-
Facilitate decision making on the basis of strong historic and forecast
production, reserves and capacity data.
- Assess your competitor’s
major crude oil assets and their performance.
- Analyze the latest news
and financial deals in the oil sector of each country.
- Develop
strategies based on the latest operational, financial, and regulatory events.
- Do deals with an understanding of how competitors are financed, and the
mergers and partnerships that have shaped the market.
- Identify and
analyze the strengths and weaknesses of the leading companies in the
country.
Table of Contents
1 Table Of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 Nigeria Energy Sector 11
2.1 Nigeria Energy Sector, Market Overview
11
2.2 Nigeria Energy Sector, Crude Oil 12
2.2.1 Nigeria Crude Oil,
Overview 12
2.2.2 Nigeria Crude Oil, Supply and Demand Balance 12
2.2.3 Nigeria Crude Oil, Regulatory Structure 18
2.2.4 Nigeria Crude Oil,
Infrastructure 18
3 Nigeria Oil Upstream Investment Environment
Benchmarking 20
3.1 Introduction 20
3.2 The Overall Ranking 20
3.3
Upstream Fiscal Attractiveness 20
3.3.1 Maximum Government Take Index
22
3.3.2 Fiscal Flexibility 22
3.3.3 Maximum State Participation
22
3.3.4 Maximum Domestic Market Obligation 23
3.4 Oil Sector
Performance 23
3.4.1 Exploration Activity 25
3.4.2 Oil Production
26
3.4.3 Oil Reserves 26
3.4.4 Oil Consumption 26
3.4.5 Refining
Industry 27
3.5 Economic Performance 27
3.5.1 GDP Growth Index 29
3.5.2 FDI Confidence Index 29
3.5.3 Balance of Trade Index 29
3.6
Socio-Political Performance 29
3.6.1 Democracy Index 31
3.6.2
Governance Index 31
4 Nigeria Exploration and Production Sector 32
4.1
Nigeria Exploration and Production Sector, Country Snapshot 32
4.1.1
Nigeria Exploration and Production Sector, Key Data 32
4.1.2 Nigeria
Exploration and Production Sector, Crude Oil Assets Map 32
4.2 Nigeria
Exploration and Production Sector, Gross Crude Oil Production 33
4.2.1
Nigeria Exploration and Production Sector, Gross Crude Oil-Historical
Production 33
4.2.2 Nigeria Exploration and Production Sector, Gross Crude
Oil-Historical Production by Type 34
4.2.3 Nigeria Exploration and
Production Sector, Gross Crude Oil Production by Assets 35
4.2.4 Nigeria
Exploration and Production Sector, Gross Equity Weighted Crude Oil Production
by Company 37
4.2.5 Nigeria Exploration and Production Oil Sector, Market
Share based on Gross Equity Weighted Crude Oil Production 38
4.3 Nigeria
Exploration and Production Sector, Gross Crude Oil Forecasts 40
4.3.1
Nigeria Exploration and Production Sector, Gross Crude Oil Forecasted
Production 40
4.4 Nigeria Exploration And Production Sector, Crude Oil
Asset Details 44
4.4.1 Nigeria Exploration And Production Sector, Active
Crude Oil Asset Details 44
4.4.2 Nigeria Exploration and Production
Sector, Planned Crude Oil Asset Details 48
4.5 Nigeria Exploration and
Production Sector, Major Oil Discoveries 49
4.5.1 Nigeria Exploration and
Production Sector, Number of Oil Discoveries, 2004- 2009 49
4.5.2 Nigeria
Exploration And Production Sector, Oil Discovery Details 50
4.6 Nigeria
Exploration And Production Sector, Recent Discoveries 51
4.6.1 Jun 25,
2010: Afren Taps Oil At Ebok Deep Exploration Well Im OML 67, Offshore Nigeria
51
4.6.2 Jun 24, 2010: Total Announces Hydrocarbon Discovery At OML 136,
Offshore Western Nigeria 51
4.7 Nigeria Exploration And Production Sector,
Drilling and Production Updates 52
4.7.1 Aug 11, 2010: OMEL' s Nigerian
Find May Not Be Commercially Viable: Indian Oil Minister 52
4.7.2 Aug 09,
2010: Mart Resources Announces Rig Mobilization At UMU-6 Well In Nigeria
52
4.7.3 Aug 02, 2010: Total Resumes Operations At Akpo Offshore Oil Field
In Nigeria 52
4.7.4 Jul 28, 2010: Total' s Amenam Crude Oil Production
Falls On Technical Issue 52
4.7.5 Jul 07, 2010: Shell Commences Oil And
Gas Production From Gbaran-Ubie Project In Nigeria 53
5 Nigeria FPSO
Industry 54
5.1 Nigeria FPSO Industry, FPSO Capacity Details by Vessel
54
5.2 Nigeria FPSO Industry, FPSO Vessel Specifications 55
6 Nigeria
Pipeline Sector 56
6.1 Nigeria Pipeline Sector, Key Data 56
6.2
Nigeria Pipeline Sector, an Overview 56
6.3 Nigeria Pipeline Sector,
Comparision of Key Crude Oil Pipeline Companies 56
6.4 Nigeria Pipeline
Sector, Petroleum Product Pipeline Companies 57
6.5 Nigeria Pipeline
Sector, Crude Oil Pipelines 58
6.6 Nigeria Pipeline Sector, Petroleum
Product Pipelines 59
7 Nigeria Refining Sector 60
7.1 Nigeria Refining
Sector, Key Data 60
7.2 Nigeria Refining Sector, An Overview 60
7.2.1
Nigeria Refining Sector, Total Refining Capacity 60
7.3 Nigeria Refining
Sector, Capacity- Wise Market Share by Company 61
7.4 Nigeria Refining
Sector, Crude Distillation Unit Capacity 62
7.5 Nigeria Refining Sector,
Fluid Catalytic Cracking Capacity 62
8 Nigeria Oil and Chemicals Storage
Sector 63
8.1 Nigeria Oil and Chemicals Storage Sector, Key Data 63
8.2 Nigeria Oil and Chemicals Storage Sector, An Overview 63
8.2.1 Nigeria
Oil and Chemicals Storage Sector, Total Storage Capacity 63
8.3 Nigeria
Oil and Chemicals Storage Sector, Capacity-Wise Market Share by Company 64
8.4 Nigeria Oil and Chemicals Storage Sector, Storage Capacity 66
9
Profile of Royal Dutch Shell plc 68
9.1 Royal Dutch Shell plc, Key
Information 68
9.2 Royal Dutch Shell plc, Company Overview 68
9.3
Royal Dutch Shell plc, Business Description 68
9.3.1 Business Overview
68
9.3.2 Corporate 69
9.3.3 Downstream 69
9.3.4 Upstream 71
9.4 Royal Dutch Shell plc, SWOT Analysis 72
9.4.1 Overview 72
9.4.2
Royal Dutch Shell plc Strengths 73
9.4.3 Royal Dutch Shell plc Weaknesses
74
9.4.4 Royal Dutch Shell plc Opportunities 75
9.4.5 Royal Dutch
Shell plc Threats 76
10 Profile of Exxon Mobil Corporation 78
10.1
Exxon Mobil Corporation, Key Information 78
10.2 Exxon Mobil Corporation,
Company Overview 78
10.3 Exxon Mobil Corporation, Business Description
78
10.3.1 Business Overview 78
10.3.2 Chemical 78
10.3.3
Downstream 80
10.3.4 Upstream 81
10.4 Exxon Mobil Corporation, SWOT
Analysis 83
10.4.1 Overview 83
10.4.2 Exxon Mobil Corporation
Strengths 83
10.4.3 Exxon Mobil Corporation Weaknesses 84
10.4.4 Exxon
Mobil Corporation Opportunities 85
10.4.5 Exxon Mobil Corporation Threats
87
11 Profile of Eni S.p.A. 89
11.1 Eni S.p.A., Key Information 89
11.2 Eni S.p.A., Company Overview 89
11.3 Eni S.p.A., Business Description
89
11.3.1 Business Overview 89
11.3.2 Engineering and Construction
90
11.3.3 Exploration & Production 91
11.3.4 Gas & Power 92
11.3.5
Others 94
11.3.6 Petrochemicals 94
11.3.7 Refining and Marketing
95
11.4 Eni S.p.A., SWOT Analysis 96
11.4.1 Overview 96
11.4.2 Eni
S.p.A. Strengths 97
11.4.3 Eni S.p.A. Weaknesses 98
11.4.4 Eni S.p.A.
Opportunities 99
11.4.5 Eni S.p.A. Threats 100
12 Financial Deals
Landscape 102
12.1 Detailed Deal Summary 102
12.1.1 Rumored Deals
102
12.1.2 Acquisition 103
12.1.3 Private Equity 106
12.1.4 Equity
Offerings 108
12.1.5 Partnerships 109
12.1.6 Asset Transactions
110
13 Recent Developments 121
13.1 License Rounds 121
13.1.1 Jun
23, 2010: Nigeria May Auction Oil Exploration Blocks In August 2010 121
13.1.2 May 27, 2010: Nigeria To Unveil Details Of New Oil Bidding Round Within
Four Weeks 121
13.2 License Awards 121
13.2.1 Apr 22, 2010: Mart
Resources And Its Partners Receive Approval For UMU-6 Development Well,
Onshore Nigeria 121
13.3 Strategy and Business Expansion 122
13.3.1
Aug 13, 2010: Imo State Seeks NNPC' s Support To Build Refinery 122
13.3.2
Aug 10, 2010: OMEL To Set Up 180,000 Bpd Oil Refinery In Nigeria 122
13.3.3 Jul 20, 2010: US Supports Nigeria On PIB: NNPC 123
13.4 Other
Significant Developments 123
13.4.1 Aug 30, 2010: Shell Near Completion Of
$1 Billion Oil Pipeline In Nigeria 123
13.4.2 Aug 27, 2010: Nigeria
Unveils Three-Step Action Plan To Boost Gas Supplies To Power Plants 124
13.4.3 Aug 10, 2010: Four Arab States Show Interest In Buying Iranian Gas
124
13.4.4 Jul 21, 2010: Septa Energy Plans $1 Billion Investment On
Domestic Gas Project In Nigeria 124
13.4.5 Jul 20, 2010: NNPC, Zamfara
State To Build Refinery 125
13.4.6 Jul 08, 2010: Nigeria Pledges Support
For Ugandan Petroleum Industry 125
13.4.7 Jul 07, 2010: Maurel & Prom
Provides Operations Update 126
13.4.8 Jul 07, 2010: Iran, Nigeria Discuss
Closer Cooperation In Oil And Gas Sectors 127
13.4.9 Jul 06, 2010: NNPC To
Start Preliminary Design For Kogi Greenfield Refinery In Nigeria 127
14
Appendix 128
14.1 Methodology 128
14.1.1 Coverage 128
14.1.2
Secondary Research 129
14.1.3 Primary Research 129
14.1.4 Midstream
Forecasts 130
14.1.5 Expert Panel Validation 130
14.2 Contact Us
131
14.3 About GlobalData 131
14.4 Disclaimer 131
Table 1: Nigeria, Historic and Forecast Production and Consumption of Crude
Oil, 1996-2020 13
Table 2: Nigeria, Historic and Forecast Imports and
Exports of Crude Oil, 1996-2020 15
Table 3: Nigeria, Historic Reserves of
Crude Oil, 1996-2009 17
Table 4: West Africa, Investment Benchmarking,
Overall Country Rankings, July 2010 20
Table 5: West Africa, Investment
Benchmarking, Upstream Fiscal Attractiveness, July 2010 21
Table 6: West
Africa, Investment Benchmarking, Oil Sector Performance, July 2010 23
Table 7: West Africa, Investment Benchmarking, Economic Performance, July 2010
27
Table 8: West Africa, Country Standings, Economic Performance, July
2010 28
Table 9: West Africa, Investment Benchmarking, Socio-Political
Performance, July 2010 30
Table 10: West Africa, Country Standings,
Socio-Political Performance, July 2010 30
Table 11: Nigeria, Crude Oil Key
Statistics, 2009 32
Table 12: Nigeria, Total Gross Crude Oil Production
(MMBBLs), 2002-2009 33
Table 13: Nigeria, Total Gross Crude Oil Production
(MMBBLs) by Type, 2002- 2009 34
Table 14: Nigeria, Gross Crude Oil
Production (MMBBLs), by Assets, 2002-2009 35
Table 15: Nigeria, Gross
Equity Weighted Crude Oil Production by Company (MMBBLs), 2002-2009 37
Table 16: Nigeria, Market Share (%) based on Gross Equity Weighted Crude Oil
Production, 2002-2009 38
Table 17: Nigeria, Gross Crude Oil Production
(MMBBLs), Forecast by Assets, 2010- 2015 40
Table 18: Nigeria, Gross Crude
Oil Production (MMBBLs), Forecast by Assets, 2010- 2015 (Contd.1) 41
Table
19: Nigeria, Gross Crude Oil Production (MMBBLs), Forecast by Assets, 2010-
2015 (Contd.2) 42
Table 20: Nigeria, Gross Crude Oil Production (MMBBLs),
Forecast by Assets, 2010- 2015 (Contd.3) 43
Table 21: Nigeria, Active Oil
Field Asset Details 44
Table 22: Nigeria, Planned Oil Field Assets
Details 48
Table 23: Nigeria, Number of Oil Discoveries, 2004-2009 49
Table 24: Nigeria, Oil Discovery Details, 2004-2009 50
Table 25: Nigeria
FPSO Industry, FPSO Oil Production Capacities, 2009 54
Table 26: Nigeria
FPSO Industry, FPSO Vessel Specifications, 2009 55
Table 27: Nigeria,
Pipeline Key Statistics, 2009 56
Table 28: Nigeria, Crude Oil Pipeline
Length by Company (Km), 2009 56
Table 29: Nigeria, Petroleum Product
Pipeline Length by Company (Km), 2009 57
Table 30: Nigeria, Crude Oil
Pipelines, 2009 58
Table 31: Nigeria, Petroleum Product Pipelines, 2009
59
Table 32: Nigeria, Refinery Key Statistics, 2009 60
Table 33:
Nigeria, Total Refining Capacity (MMTPA), 2000- 2013 60
Table 34: Nigeria,
Refining Capacity by Company (MMTPA), 2000-2013 61
Table 35: Nigeria,
Crude Distillation Unit Capacity (MMTPA), 2000-2013 62
Table 36: Nigeria,
Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2013 62
Table 37:
Nigeria, Oil Storage Key Statistics, 2009 63
Table 38: Nigeria, Total
Oil and Chemicals Storage Capacity (Thousand M3), 2000- 2013 63
Table 39:
Nigeria, Oil and Chemicals Storage Capacity by Company (Thousand M3),
2000-2013 64
Table 40: Nigeria, Oil and Chemicals Storage Capacity
(Thousand M3), 2000-2013 66
Table 41: Royal Dutch Shell plc, Key
Facts 68
Table 42: Royal Dutch Shell plc, SWOT Analysis 73
Table
43: Exxon Mobil Corporation, Key Facts 78
Table 44: Exxon Mobil
Corporation, SWOT Analysis 83
Table 45: Eni S.p.A., Key Facts 89
Table 46: Eni S.p.A., SWOT Analysis 97
Table 47: China National
Offshore Oil To Acquire Oil Reserves In Nigeria 102
Table 48: Maurel &
Prom Acquires 45% Interest In Seplat Petroleum Development Company 103
Table 49: Essar Oil Terminated Plan To Acquire Port Harcourt Refining Company
104
Table 50: To Acquire Port Harcourt Refinery 105
Table 51: To Sell
Eurpean LPG Business And Oil and Gas Fields In The North Sea And Nigeria
106
Table 52: Standard Chartered Private Equity Invests $47.5 Million In
Seven Energy 107
Table 53: Completes Right Issue Of $142.6 Million 108
Table 54: Forms Joint Venture With NNPC 109
Table 55: Sirius Petroleum To
Acquire 40% Stake In Ke Marginal Fiel 110
Table 56: Petroleum Company To
Acquire 45% Interest In OML 4, 38 And 41 In Nigerian Onshore 111
Table 57:
Shell To Sell Stake In Three Oil Licenses In Nigeria 112
Table 58: To
Acquire 32.5% Stake In OML 115 113
Table 59: Shell To Sell Three
Production Licenses In Nigeria 114
Table 60: ERHC Energy To Acquire
Working Interest In Eremor Marginal Field 115
Table 61: Asia Petroleum
Acquires Oyo Oilfield From CAMAC Energy Holdings 116
Table 62: Addax
Acquires An Additional 51% Interest In JDZ Exploration Block 3 To Addax
117
Table 63: To Acquire 28% Stake In Okwok Field From Addax Petroleum
118
Table 64: Moni Pulo Petroleum Acquires Three New Oil Blocks 119
Table 65: Oando Acquires 15% Stake In Two Blocks From Agip 120
Figure 1: Nigeria, Energy Sector Split By Fuel Type, 2009 11
Figure
2: Nigeria, Crude Oil Production And Consumption (Thousand Barrels Per Day),
1996-2020 14
Figure 3: Nigeria, Crude Oil Exports (Thousand Barrels Per
Day), 1996-2020 16
Figure 4: Nigeria, Crude Oil Reserves (Million
Barrels), 1996-2009 18
Figure 5: West Africa, Country Standings, Upstream
Fiscal Attractiveness, July 2010 22
Figure 6: West Africa, Country
Standings, Oil Sector Performance, by Reserves-Exploration & Production, July
2010 24
Figure 7: West Africa, Country Standings, Oil Sector Performance,
by Production-Consumption & Refining, July 2010 25
Figure 8: West Africa,
Country Standings, Exploration Blocks Awarded, July 2010 26
Figure 9: West
Africa, Country Standings, Economic Performance, July 2010 28
Figure 10:
West Africa, Country Standings, Socio-Political Performance, July 2010 31
Figure 11: Nigeria, Crude Oil Assets Map, 2009 32
Figure 12: Nigeria,
Total Gross Crude Oil Production (MMBBLs), 2002-2009 33
Figure 13:
Nigeria, Total Gross Crude Oil Production (MMBBLs) by Type, 2002-2009 34
Figure 14: Nigeria, Gross Equity Weighted Crude Oil Production (MMBBLs) by
Company, 2002-2009 38
Figure 15: Nigeria, Market Share (%) based on Gross
Equity Weighted Crude Oil Production, 2009 39
Figure 16: Nigeria, Number
of Oil Discoveries, 2004- 2009 50
Figure 17: Nigeria, Crude Oil Pipeline
Length by Company (Km), 2009 57
Figure 18: Nigeria, Total Refining
Capacity (MMTPA), 2000- 2013 61
Figure 19: Nigeria, Total Oil and
Chemicals Storage Capacity (Thousand M3), 2000- 2013 64
Figure 20:
Nigeria, Oil and Chemicals Storage Capacity by Company (Thousand M3),
2000-2013 65
Oil Market Outlook in Nigeria, 2010 published by GlobalData in October 5, 2010. This report consists of Pages: 131 and the price starts from US $ 2500.
