Research and Markets: Australia Oil & Gas Report Q1 2012 - Potential Net Petroleum Export Proceeds for 2016 Are Estimated At US$7.6bn

DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/fb8393/australia_oil_ga) has announced the addition of the "Australia Oil & Gas Report Q1 2012" report to their offering.

“Australia Oil & Gas Report Q1 2012”

BMI View: Gas, in particular coal bed methane (CBM), may be the future for Australia's energy export industry. Conventional gas and vast volumes of newly-discovered CBM, or coal seam gas' (CSG) as it is known in Australia, can underpin the majority of planned gas export schemes, boosting further Australia's position in the global LNG trade. Oil prospects are less encouraging, but the scale of likely gas exports should deliver substantial net energy receipts for decades to come.

By 2016, the crude oil import requirement is expected to rise to 490,000b/d, costing some US$16.7bn (assuming an average OPEC basket oil price of US$93.20/bbl). In 2011, BMI expect Australia to have imported an average 455,000b/d, at a cost of US$16.9bn using an OPEC oil price of US$101.90/bbl. Gas exports are forecast to rise towards 52bcm by 2016, bringing in potential LNG revenues of US$25.9bn.

At time of writing, BMI assume an OPEC basket oil price for 2011 of US$101.90 per barrel (bbl), falling to US$99.38/bbl in 2012. Global GDP in 2011 is forecast at 3.2%, down from 4.3% in 2010 reflecting slowing growth in China, a faltering recovery in the US and a worsening eurozone debt crisis. For 2012, growth is put at 3.6%.

Companies Mentioned:

• Woodside Petroleum
• Santos
• BHP Billiton
• Apache Corp
• Arrow Energy
• Chevron Australia
• ConocoPhillips
• ExxonMobil Australia
• Royal Dutch Shell
• BG Group Australia
• Origin Energy
• Dart Energy
• China National Offshore Oil Corporation (CNOOC)
• BP
• Petrobras/MEO
• Roc Oil
• Inpex
• Sinopec
• PTTEP
• Murphy Oil
• Total
• Hess

For more information visit http://www.researchandmarkets.com/research/fb8393/australia_oil_ga.