Hungary Oil & Gas Report Q3 2016 - New Market Research Report

From: Fast Market Research, Inc.
Published: Tue Jul 19 2016


With small and declining hydrocarbon reserves, no exploration or field development activities taking place and a ban on hydraulic fracking, Hungary holds a very weak position in the upstream sector. While the country boasts an efficient downstream sector, rapidly rising domestic fuels consumption will turn Hungary into a net importer of refined products in 2018.

Latest Updates And Structural Trends

According to reports in Natural Gas Europe, UK-listed JKX Oil and Gas will increase its focus on gas prospects in Hungary and Slovakia in 2016, after the company faced disappointing results in Ukraine during 2015. JKX Oil and Gas has 100% interest in six production licences in Hungary.

Full Report Details at
- http://www.fastmr.com/prod/1197509_hungary_oil_gas_report_q3.aspx?afid=301

As of April 2016, Hungary and Croatia were negotiating bidirectional flows of natural gas between the two countries (ICES). Hungary expects to import natural gas from Croatia after the completion of Krk LNG project on Croatia's Adriatic shore.

Hungary has very small proven oil and gas reserves and, currently, there are no exploration activities taking place in the country. We don't expect our bearish forecasts to change in the foreseeable future as the government has imposed a ban on hydraulic fracking.

Limited oil reserves and no exploration or development activities will push Hungary's already small oil production even lower. Production volumes will contract from 19,750b/d in 2015 to around 14,650b/d in 2025.

Hungary produced 72,450b/d of refined fuels in 2015. Diesel and motor gasoline accounted for around 60% of the output. Continued investment in the country's refining infrastructure will sustain largely stable output of refined products across the forecast period to 2025.

Domestic consumption of refined products will increase steadily throughout our forecast period on the back of strong macro fundamentals, especially on the manufacturing and private consumption side. Overall demand will grow from 152,900b/d in 2056 to 216,400b/d in 2025.

Hungary will remain a net importer of crude oil, increasing the import volumes from 152,700b/d in 2015 to 157,700b/d in 2025. We hold our view that rapidly increasing demand will turn Hungary into a net importer of refined products already in 2018.

We hold our view that sustained growth in domestic demand and falling production levels will make Hungary increasingly dependent on gas imports, which will rise from 7.4bcm in 2015 to 9.8bcm in 2025.

The Hungary Oil & Gas Report has been researched at source and features BMI Research'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.

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- United Kingdom Oil & Gas Report Q3 2016
- Ukraine Oil & Gas Report Q3 2016
- Poland Oil & Gas Report Q3 2016
- Bahrain Oil & Gas Report Q3 2016
- Iran Oil & Gas Report Q3 2016

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

Visit website »