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Oil Market Outlook in Nigeria, 2010

Published By :

GlobalData

Published Date : Oct 2010

Category :

Oilfield Equipment & Services

No. of Pages : 131 Pages


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 Nigerias 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 countrys 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 competitors 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 Content

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

List of Table

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

List of Chart

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

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