This Market Assessment report describes and analyses the European upstream oil and gas industry
April 13, 2007 (Press Release) --
The European Oil and Gas Industry - Market Assessment
This Market Assessment report describes and analyses the European upstream oil and gas industry. As well as covering the exploration and production of oil and gas within the EU, it also provides an account of sources of imports. An analysis of the oil and gas industry is given for each of the EU-25 member states. Downstream gas activities in the EU are analysed in a separate Market Assessment report, The European Gas Industry (published February 2005).
Although the EU does have an upstream oil and gas industry, this is focused heavily in the UK sector of the North Sea. Crude oil production is dominated by the UK, followed a long way behind by Denmark, which accounts for less than a fifth of UK production. The only other countries with any significant crude oil production are Italy, Germany and the Netherlands, and ten of the EU-25 member states have no oil production at all. The main consumer of crude oil and petroleum products is Germany, followed by France, Italy, the UK and Spain. Only Denmark and the UK record higher production levels of crude oil than their consumption rates of crude oil and petroleum products.
As for natural gas, the main producer is the UK, followed by the Netherlands, with just under 60% of the UK's output. The only other countries with any significant gas production are Germany, Italy and, to a lesser extent, Denmark. Only Denmark, the Netherlands and the UK produce more gas than they consume, and ten EU countries have no gas production at all.
Although the EU has an important oil and gas industry, which is mainly centred in the UK sector, its reserves are very small in a global context. As far as individual EU countries are concerned, reserves are very small indeed in global terms, with all EU countries having less than 0.5% of global oil and gas reserves. Geographically, the EU's oil and gas fields in the North Sea are adjacent to those in the Norwegian sector which, although not an EU member state, has close connections with the EU for oil and gas production.
Oil and gas production in the EU (and Norway) is beginning to decline. As such, in future, an increasing amount of the EU's oil and gas requirements will have to be supplied by imports. (Exploration for new reserves is taking place in the EU, but there is little evidence that new discoveries are likely to be made that will replace the current and mature fields.)
The European Oil and Gas Industry - Market Assessment
This Market Assessment report describes and analyses the European upstream oil and gas industry. As well as covering the exploration and production of oil and gas within the EU, it also provides an account of sources of imports. An analysis of the oil and gas industry is given for each of the EU-25 member states. Downstream gas activities in the EU are analysed in a separate Market Assessment report, The European Gas Industry (published February 2005).
Although the EU does have an upstream oil and gas industry, this is focused heavily in the UK sector of the North Sea. Crude oil production is dominated by the UK, followed a long way behind by Denmark, which accounts for less than a fifth of UK production. The only other countries with any significant crude oil production are Italy, Germany and the Netherlands, and ten of the EU-25 member states have no oil production at all. The main consumer of crude oil and petroleum products is Germany, followed by France, Italy, the UK and Spain. Only Denmark and the UK record higher production levels of crude oil than their consumption rates of crude oil and petroleum products.
As for natural gas, the main producer is the UK, followed by the Netherlands, with just under 60% of the UK's output. The only other countries with any significant gas production are Germany, Italy and, to a lesser extent, Denmark. Only Denmark, the Netherlands and the UK produce more gas than they consume, and ten EU countries have no gas production at all.
Although the EU has an important oil and gas industry, which is mainly centred in the UK sector, its reserves are very small in a global context. As far as individual EU countries are concerned, reserves are very small indeed in global terms, with all EU countries having less than 0.5% of global oil and gas reserves. Geographically, the EU's oil and gas fields in the North Sea are adjacent to those in the Norwegian sector which, although not an EU member state, has close connections with the EU for oil and gas production.
Oil and gas production in the EU (and Norway) is beginning to decline. As such, in future, an increasing amount of the EU's oil and gas requirements will have to be supplied by imports. (Exploration for new reserves is taking place in the EU, but there is little evidence that new discoveries are likely to be made that will replace the current and mature fields.)
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