Table of Contents
Executive Summary — 7 SWOT
Analysis — 9 Iran Political SWOT — 9
Iran Economic SWOT — 10 Iran Business Environment
SWOT — 11 Iran Energy Market
Overview — 12 Regional Energy Market
Overview — 18 Oil Supply And
Demand — 18 Table: Middle East Oil Consumption
(000b/d) — 19 Table: Middle East Oil Production
(000b/d) — 20 Oil: Downstream — 21
Table: Middle East Oil Refining Capacity (000b/d) — 21 Gas
Supply And Demand — 22 Table: Middle East Gas Consumption
(bcm) — 22 Table: Middle East Gas Production
(bcm) — 23 Liquefied Natural Gas — 24
Table: Middle East LNG Exports/(Imports) (bcm) — 24
Business Environment Ranking — 25 Middle East
Region — 25 Composite Scores — 25
Table: Regional Upstream Business Environment Rating — 26
Table: Regional Downstream Business Environment
Rating — 27 Upstream Scores — 27
Downstream Scores — 27 Iran Upstream Rating –
Overview — 28 Iran Upstream Rating – Potential
Returns — 28 Iran Upstream Rating – Risks To
Potential Returns — 28 Iran Downstream Rating –
Overview — 28 Iran Downstream Rating – Potential
Returns — 29 Iran Downstream Rating – Risks To
Potential Returns — 29 Business
Environment — 30 Legal Framework — 30
Infrastructure — 31 Labour Force — 32
Foreign Investment Policy — 33 Tax
Regime — 34 Security Risk — 34
Industry Forecast Scenario — 36 Oil & Gas
Reserves — 36 Oil Supply & Demand — 36
Gas Supply & Demand — 37 LNG — 39
Refining & Oil Products Trade — 42 Revenues/Import
Costs — 43 Table: Iran Oil & Gas – Historical Data &
Forecasts — 44 Other Energy — 45
Table: Iran Other Energy – Historical data &
Forecasts — 46 Key Risks To BMI’s Forecast
Scenario — 46 Long-Term Oil & Gas
Outlook — 47 Macroeconomic
Outlook — 48 Table: Iran - Economic
Activity — 51 Competitive
Landscape — 52 Executive Summary — 52
Table: Key Players – Iranian Oil & Gas Sector — 53
Overview/State Role — 53 Table: Key Upstream Operators
– Iran Oil & Gas Sector — 56 Table: Key Downstream
Operators – Iran Energy Sector — 56 Company
Monitor — 57 National Iranian Oil Company
(NIOC) — 57 National Iranian Oil Refining and Distribution
Company (NIORDC) — 63 Eni Iran — 66
Total Iran — 69 Shell Development
Iran — 73 StatoilHydro –
Summary — 76 Inpex –
Summary — 77 Lukoil –
Summary — 77 CNPC – Summary — 77
CNOOC – Summary — 78 PTTEP –
Summary — 78 ONGC/OVL –
Summary — 78 OMV – Summary — 79
BP – Summary — 80 Sinopec –
Summary — 80 Gazprom –
Summary — 80 Glossary of Terms — 82
Oil & Gas Ratings: Revised Methodology — 83
Introduction — 83 Ratings
Overview — 83 Table: BMI Oil & Gas Business Environment
Ratings: Structure — 84
Indicators — 85 Table: BMI Oil & Gas Business Environment
Upstream Ratings: Methodology — 85 Table: BMI Oil & Gas
Business Environment Downstream Ratings: Methodology — 86
Oil & Gas Outlook: Long-Term Forecasts — 88 Regional Oil
Demand — 88 Table: Middle East Oil Consumption
(000b/d) — 88 Regional Oil Supply — 89
Table: Middle East Oil Production (000b/d) — 89 Regional
Refining Capacity — 90 Table: Middle East Oil Refining
Capacity (000b/d) — 90 Regional Gas
Demand — 91 Table: Middle East Gas Consumption
(bcm) — 91 Regional Gas Supply — 92
Table: Middle East Gas Production (bcm) — 92 Iran Country
Overview — 92 Methodology & Risks To
Forecasts — 93 BMI Forecast
Modelling — 94 How we generate our industry
forecasts — 94 Energy Industry — 95
Cross checks — 95 Sources — 95
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