Table of Contents
Executive Summary — 7 Azerbaijan Energy Market
Overview — 9 Regional Energy Market
Overview — 11 Oil Supply & Demand — 11
Table: Central/Eastern Europe Oil Consumption
(000b/d) — 12 Table: Central/Eastern Europe Oil Production
(000b/d) — 13 Oil: Downstream — 14
Table: Central/Eastern Europe Oil Refining Capacity
(000b/d) — 14 Gas Supply & Demand — 15
Table: Central/Eastern Europe Gas Consumption (bcm) — 15
Table: Central/Eastern Europe Gas Production (bcm) — 16
Liquefied Natural Gas — 17 Table: Central/Eastern Europe
LNG Exports/(Imports) (bcm) — 17 Business Environment
Ranking — 18 Central/Eastern Europe
Region — 18 Composite Scores — 18
Table: Regional Upstream Business Environment Rating — 19
Table: Regional Downstream Business Environment
Rating — 20 Upstream Scores — 20
Downstream Scores — 21 Azerbaijan Upstream Rating –
Overview — 21 Azerbaijan Upstream Rating – Potential
Returns — 21 Azerbaijan Upstream Rating – Risks To
Potential Returns — 21 Azerbaijan Downstream Rating
– Overview — 22 Azerbaijan Downstream Rating –
Potential Returns — 22 Azerbaijan Downstream Rating
– Risks To Potential Returns — 22 Business
Environment — 23 Legal Framework — 23
Infrastructure — 24 Labour Force — 25
Foreign Investment Policy — 26 Tax
Regime — 27 Operational Risk — 28
Industry Forecast Scenario — 29 Oil & Gas
Reserves — 29 Oil Supply & Demand — 29
Gas Supply & Demand — 30 Refining & Oil Products
Trade — 32 Revenues/Import Costs — 32
Table: Azerbaijan Oil & Gas – Historical Data &
Forecasts — 33 Other Energy — 34
Table: Azerbaijan Other Energy – Historical Data &
Forecasts — 34 Key Risks To BMI’s Forecast
Scenario — 35 Long-Term Oil & Gas
Outlook — 35 Economic Outlook — 36
Table: Azerbaijan – Economic Activity — 38
Competitive Landscape — 39 Table: Key Domestic & Foreign
Companies — 40 Overview/State
Role — 40 Table: Key Upstream
Players — 43 Table: Downstream
Player — 43 Company Monitor — 44
Socar — 44 BP Azerbaijan — 49
StatoilHydro — 53 Lukoil
Azerbaijan — 55 ExxonMobil –
Summary — 57 Devon Energy –
Summary — 57 Eni – Summary — 57
Inpex – Summary — 57 Chevron –
Summary — 57 Itochu/Delta Hess –
Summary — 58 TPAO – Summary — 58
Total – Summary — 58 OVL –
Summary — 58 KNOC – Summary — 59
GDF Suez – Summary — 59 Glossary of
Terms — 60 Oil & Gas Ratings: Revised
Methodology — 61 Introduction — 61
Ratings Overview — 61 Table: BMI Oil & Gas Business
Environment Ratings: Structure — 62
Indicators — 63 Table: BMI Oil & Gas Business Environment
Upstream Ratings: Methodology — 63 Table: BMI Oil & Gas
Business Environment Downstream Ratings: Methodology — 64
Oil & Gas Outlook: Long-Term Forecasts — 66 Regional Oil
Demand — 66 Table: CEE Oil Consumption
(000b/d) — 66 Regional Oil Supply — 67
Table: CEE Oil Production (000b/d) — 67 Regional Refining
Capacity — 68 Table: CEE Oil Refining Capacity
(000b/d) — 68 Regional Gas Demand — 69
Table: CEE Gas Consumption (bcm) — 69 Regional Gas
Supply — 70 Table: CEE Gas Production
(bcm) — 70 Azerbaijan Country
Overview — 70 Methodology & Risks To
Forecasts — 71 BMI Forecast
Modelling — 72 How we generate our industry
forecasts — 72 Energy Industry — 73
Cross checks — 73 Sources — 73
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