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GCC Oil and Gas Industry Overview 2013

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Economies in the Gulf Cooperation Council (GCC) namely, Saudi Arabia, United Arab Emirates (UAE), Qatar, Kuwait, Bahrain and Oman, after decades of growth following the first discovery of oil in the sixties, have come a long way to dominate the world hydrocarbons market Accounting for over 40 percent of the world’s hydrocarbon reserves (40 percent comprises oil, 23 percent natural gas) as of 2012. This share is also likely to grow to 70 percent by the end of the decade according to a study by Kuwait based Diplomatic Center for Strategic Studies promising a large growth potential in the closely government guarded and highly regulated GCC upstream sector. Recent years have witnessed GCC economies reaping rich dividends from the burgeoning global demand for oil and gas and the high oil prices on the one hand. On the other, these economies have been forced to walk a tight rope to balance their equally fast growing domestic demand for the fossil fuels with maintaining enough export surpluses and augmenting capacities from the fast depleting non-renewable reserves. As the hydrocarbon industry matures, these economies have begun to realize the value of diversification of their economies so as to reduce their dependence on hydrocarbons and begun judiciously ploughing back their hydrocarbon surpluses into ambitious programmes of industrialization, diversification and expansion.  http://www.bharatbook.com/oil-and-gas-market-research-reports/gcc-oil-and-gas-industry-overview-2013.html

While hydrocarbon industry continues to form the backbone of these economies accounting for more than three fourths of their government revenues and over half of their exports, the hydrocarbon industry on its own has witnessed a subtle shift from core upstream projects into downstream activities of refining, petrochemicals and storage tanks, each vying with the other to enhance their refining capacities to exploit this trend to the maximum. Investments in the energy sector across the GCC total US$ 470 billion between 2010 and 2015, of which oil and gas accounted for 47 percent and 36 percent, respectively of the total. Contracts worth US$ 39,405 million were awarded across the GCC hydrocarbon sector in 2012 of which downstream projects accounted for 82 percent with a large focus on petrochemicals, overtaking the earlier emphasis on refining, reflecting the maturing nature of the industry and its need for diversification. The GCC petrochemicals sector has witnessed promising growth with a Compound Annual Growth Rate (CAGR) of 26 percent between 2007 and 2011 despite financial instabilities across the region and among its trading partners and continues to demonstrate strong potential in spite of the worsening global economic conditions, especially its key trading partner Europe with its financial woes and other prime markets. The challenges likely to be faced by the industry in the prevailing economic climate are manifold, including external financing, retaining economic growth while reducing vulnerabilities to external shocks. This report examines the nature of the GCC hydrocarbon industry, its regulatory structure and its growth trajectory, the developments across its upstream and downstream sectors including top projects and contracts awarded with forecasts up to 2014 and concludes with a comparative analysis of economic growth versus hydrocarbon growth across the GCC countries in 2012 and its absolute performance over a period of time.

Table of Contents

Executive Summary
Chapter1. GCC Oil and Gas Industry Overview
Hydrocarbons Production, Consumption and Exportable Surplus
How Hydrocarbon Markets are Organized in the GCC Countries
Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
United Arab Emirates (UAE)
The Life Cycle and Future Direction of the GCC Hydrocarbon Regulatory Framework
Chapter2. Oil Prices, GCC Output and Surpluses
Chapter3. GCC Hydrocarbon Sector Market Size and Forecasts- 2013
GCC Oil and Gas Market
Construction Projects Awarded for the GCC for the Oil and Gas Sector (US$ Million), 2011-2014
Chapter 4.GCC Upstream Sector
Bahrain
Saudi Arabia
The United Arab Emirates (UAE)
Qatar
Kuwait
Oman
Chapter5. GCC Downstream Sector
Saudi Arabia
The United Arab Emirates (UAE)
Oman
Kuwait
Bahrain
Qatar
Chapter6. Regional Hydrocarbon Industry Overview
Regional Hydrocarbon Sector Analysis
The GCC Hydrocarbon Sector and Economic Growth
Analysis of Oil Industry Growth versus Economic Growth
Analysis of Natural Gas Industry Growth versus Economic Growth
Chapter7. Future Focus and Outlook for the GCC Oil and Gas Industry
Methodology
Code of Ethics
Ventures Onsite MENA Projects Database

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GCC Oil and Gas Industry Overview 2013

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