The Oil Drilling Rig Industry is characterized with a few typical work specific to this industry only. The work begins with the search for new oil basins or construction of wells. During this time the services of drilling contractors and se…
BMI View: The pace of economic recovery and renewed growth is critical to Spain's energy market, as it
will drive the country's demand for oil and natural gas - virtually all of which is imported. Spain is a key
conduit for gas pipelines from Algeria and is a major receiver of liquefied natural gas (LNG), an area
where further capacity expansion is possible once the economic outlook improves. Shale gas could
potentially offer improved self-sufficiency, but is unlikely to revolutionise the energy outlook. Meanwhile,
Repsol has started to undergo a strategic shake-up following the Argentine government's privatisation of its
The main trends and developments we highlight in Spain's oil and gas sector are:
Due to a change in historical data from the US Energy Information Administration (EIA) and the modest
Spanish Oil consumption outlook we have lowered our 10-year Crude Oil consumption forecasts.
According to the EIA, Spain is estimated to have consumed 1.29mn b/d in 2012 and we expect demand to
average 1.34mn b/d in 2017, increasing further to 1.40mn b/d by 2022. No meaningful local oil supply is
available, meaning crude imports will reach at least 1.31mn b/d by 2017 and 1.38mn b/d by 2022.