United Arab Emirates Oil & Gas Report Q4 2014 - New Report Available

Much of the future success within the UAE's oil and gas industry will be inextricably linked to the country's short-term economic diversification efforts, primarily investment and growth in the non-hydrocarbon sectors. The most consequential economic success that the country has experienced in the last 5 years has been skilfully recreating the conditions of a stable investment climate, which the immediate after-effects of the global financial crisis negatively impacted.

In 2013 the UAE's economy grew by over 5%, heavily being contributed by the country's steadily rising oil exports. This year merely continued this positive trend, bringing the UAE that much closer to its target of increasing oil production to 3.6mn barrels per day (b/d) by 2019. However, as a recent economic studies have argued, investments and focus on the non-hydrocarbon sectors, chiefly the non-oil sector, will be critical to the UAE's short-term growth, particularly as global supply, by reason of unconventional production, is slated to moderately increase in the future. In looking at the non-oil foreign trade for the UAE, the country's efforts are starting to pay off, as non-oil trade reached Dh256 billion in 2014 (69.7 billion USD).

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By 2015, BMI forecasts that global oil prices will peak, commencing a moderately deflated pricing cycle that will largely be kept intact by the rise of unconventional supply and continued conventional output - assuming no major supply disruption. Thus, the next two-three years will be critical for the UAE to synthesise strong revenue from the current high prices with the need to diversify economically. We expect steady growth in oil and gas production over the course of our forecast period. Greater attempts at increasing energy efficiency, waste reduction efforts, and increasing natural gas production will be critical to limiting the UAE's import requirement as consumption continues to outstrip demand.

The United Arab Emirates Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for United Arab Emirates including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's United Arab Emirates Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Emirati oil and gas industry.

Key Benefits

* Benchmark BMI's independent oil and gas industry forecasts for United Arab Emirates to test consensus views - a key input for successful budgeting and strategic business planning in the Emirati oil and gas market.

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