Hong Kong Oil and Gas Report Q4 2009

"Hong Kong Oil and Gas Report Q4 2009 | AboutHK.Com - More Information About HK"

Research and Markets 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 459 bn 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). Thismrepresents 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 This e-mail address is being protected from spambots. You need JavaScript enabled to view it U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Copyright Business Wire 2009