Recent Study: Hungary Oil & Gas Report Q4 2014

From: Fast Market Research, Inc.
Published: Tue Oct 21 2014

Long known for a good above ground risk profile and meagre below ground prospects, Hungary says it may need to scramble to bolster petroleum reserves due to its near complete reliance on Russia in light of the widening economic aftershocks of the Russia -Ukraine situation

The main trends and developments for Hungary's oil & gas sector are

* In July 2013, Falcon Oil & Gas completed announced a gas show in the first well of an agreed three-well drilling exploration programme with Serbia's NIS (owned 56% by Gazprom), to target the Algyö Play. Testing of the well began in November 2013, with the second and third wells planned to be completed by Q4 2014. Explorer Ascent Resources has estimated that around 50% of the tight gas in the Petisovci-Lovaszi area (on the Hungary/Slovenia border) can be recovered. Proven and probable reserves are almost 12bn cubic metres (bcm). However, while prospects remain good, Ascent restructured in 2013, selling its stake to PetroHungaria.
* Gas consumption and production are both on the downward slope. We forecast domestic production of 2.1 bcm in 2015 and consumption continuing its precipitous fall to arrive at 9.9 bcm. An enfeebled economy causes us to forecast continued declines in demand though 2018 when gas consumption will bottom out at...

Full Report Details at

The Hungary Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Hungary 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 Hungary Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Hungarian oil and gas industry.

Key Benefits

* Benchmark BMI's independent oil and gas industry forecasts for Hungary to test consensus views - a key input for successful budgeting and strategic business planning in the Hungarian oil and gas market.
* Target business opportunities and risks in the Hungarian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Hungary.
* Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.


BMI Industry View

Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

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