1 Table Of Contents
1 Table Of Contents 2
1.1 List of Tables 7
1.2 List Of Figures 9
2 Germany Energy Sector 10
2.1 Germany Energy Sector, Market Overview 10
2.2 Germany Energy Sector, Crude Oil 10
2.2.1 Germany Crude Oil, Overview 10
2.2.2 Germany Crude Oil, Supply and Demand Balance 11
2.2.3 Germany Crude Oil, Regulatory Structure 16
2.2.4 Germany Crude Oil, Infrastructure 16
3 Germany Oil Upstream Investment Environment Benchmarking 17
3.1 Introduction 17
3.2 The Overall Ranking 17
3.3 Upstream Fiscal Attractiveness 17
3.3.1 Maximum Government Take Index 19
3.3.2 Fiscal Flexibility Index 19
3.3.3 Maximum State Participation 19
3.4 Oil Sector Performance 19
3.4.1 Exploration Activity 21
3.4.2 Oil Production 22
3.4.3 Oil Reserves 22
3.4.4 Oil Consumption 23
3.4.5 Refining Capacity 23
3.5 Economic Performance 23
3.5.1 GDP Growth Index 25
3.5.2 FDI Confidence Index 25
3.5.3 Balance of Trade Index 25
3.6 Socio-Political Performance 25
4 Germany Exploration and Production Sector 28
4.1 Germany Exploration and Production Sector, Country Snapshot 28
4.1.1 Germany Exploration and Production Sector, Key Data 28
4.1.2 Germany Exploration and Production Sector, Crude Oil Assets Map 28
4.2 Germany Exploration and Production Sector, Gross Crude Oil Production 29
4.2.1 Germany Exploration and Production Sector, Total Gross Crude Oil Production 29
4.2.2 Germany Exploration and Production Sector, Gross Crude Oil Production by Type 30
4.2.3 Germany Exploration and Production Sector, Gross Crude Oil Production by Assets 31
4.2.4 Germany Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 32
4.2.5 Germany Exploration and Production Sector, Market Share of Key Companies Based on Gross Equity Weighted Crude Oil Production 33
4.3 Germany Exploration and Production Sector, Production Forecast 34
4.3.1 Germany Exploration and Production Sector, Gross Crude Oil Production Forecast 34
4.4 Germany Exploration and Production Sector, Crude Oil Asset Details 36
4.4.1 Germany Exploration and Production Sector, Active Crude Oil Asset Details 36
4.4.2 Germany Exploration and Production Sector, Planned Crude Oil Asset Details 37
4.5 Germany Exploration and Production Sector, Drilling and Production Updates 38
4.5.1 May 25, 2012: Wintershall Announces 10 Million Tons Of Crude Oil From Emlichheim, Germany 38
4.5.2 Feb 28, 2012: Wintershall Increases Oil Production In Aitingen 39
4.5.3 Nov 08, 2010: Wintershall Ramps Up German Oil Production 39
4.5.4 Oct 25, 2010: RWE Dea Provides Mittelplate Oil Field Production Update 40
4.5.5 Jan 05, 2010: RWE Dea Updates On Herzogsbrunnen 1 Well In Germany 41
5 Germany Pipeline Sector 43
5.1 Germany Pipeline Sector, Key Data 43
5.2 Germany Pipeline Sector, An Overview 43
5.3 Germany Pipeline Sector, Comparison of Key Crude Oil Pipeline Companies 43
5.4 Germany Pipeline Sector, Comparison of Key Petroleum Product Pipeline Companies 44
5.5 Germany Pipeline Sector, Crude Oil Pipelines 46
5.6 Germany Pipeline Sector, Petroleum Product Pipelines 47
6 Germany Refining Sector 48
6.1 Germany Refining Sector, Key Data 48
6.2 Germany Refining Sector, An Overview 48
6.2.1 Germany Refining Sector, Total Refining Capacity 48
6.3 Germany Refining Sector, Capacity Market Share by Company 49
6.4 Germany Refining Sector, Crude Distillation Unit Capacity 51
6.5 Germany Refining Sector, Coking Capacity 52
6.6 Germany Refining Sector, Fluid Catalytic Cracking Capacity 52
6.7 Germany Refining Sector, Hydrocracking Capacity 53
7 Germany Oil and Chemicals Storage Sector 54
7.1 Germany Oil and Chemicals Storage Sector, Key Data 54
7.2 Germany Oil and Chemicals Storage Sector, An Overview 54
7.2.1 Germany Oil and Chemicals Storage Sector, Total Storage Capacity 54
7.2.2 Germany Oil and Chemicals Storage Sector, Storage Capacity by Major Areas 56
7.3 Germany Oil and Chemicals Storage Sector, Capacity Market Share by Company 56
7.4 Germany Oil and Chemicals Storage Sector, Storage Capacity by Terminal 58
8 Profile of GDF SUEZ SA 64
8.1 GDF SUEZ SA, Key Information 64
8.2 GDF SUEZ SA, Company Overview 64
8.3 GDF SUEZ SA, Business Description 64
8.3.1 Business Overview 64
8.4 GDF SUEZ SA, SWOT Analysis 66
8.4.1 Overview 66
8.4.2 GDF SUEZ SA Strengths 67
8.4.3 GDF SUEZ SA Weaknesses 69
8.4.4 GDF SUEZ SA Opportunities 69
8.4.5 GDF SUEZ SA Threats 71
9 Profile of Exxon Mobil Corporation 74
9.1 Exxon Mobil Corporation, Key Information 74
9.2 Exxon Mobil Corporation, Company Overview 74
9.3 Exxon Mobil Corporation, Business Description 74
9.3.1 Business Overview 74
9.3.2 Chemical 75
9.3.3 Downstream 76
9.3.4 Upstream 77
9.4 Exxon Mobil Corporation, SWOT Analysis 78
9.4.1 Overview 78
9.4.2 Exxon Mobil Corporation Strengths 78
9.4.3 Exxon Mobil Corporation Weaknesses 80
9.4.4 Exxon Mobil Corporation Opportunities 81
9.4.5 Exxon Mobil Corporation Threats 83
10 Profile of Gaz de France 85
10.1 Gaz de France, Key Information 85
10.2 Gaz de France, Company Overview 85
10.3 Gaz de France, Business Description 85
10.3.1 Business Overview 85
10.4 Gaz de France, SWOT Analysis 87
10.4.1 Overview 87
10.4.2 Gaz de France Strengths 87
10.4.3 Gaz de France Weaknesses 88
10.4.4 Gaz de France Opportunities 88
10.4.5 Gaz de France Threats 89
11 Financial Deals Landscape 90
11.1 Detailed Deal Summary 90
11.1.1 Acquisition 90
11.1.2 Debt Offerings 97
11.1.3 Partnerships 102
11.1.4 Asset Transactions 105
12 Recent Developments 110
12.1 License Awards 110
12.1.1 Nov 01, 2011: PRD Energy Receives Petroleum Exploration And Production Licenses Covering Over 240,000 Acres Onshore Germany 110
12.1.2 Aug 31, 2011: Rhein Petroleum Wins Licenses To Explore For Conventional Hydrocarbons In Graben Neudorf Area 111
12.1.3 Jan 20, 2011: Wintershall Wins 10 New Licenses In Norway 111
12.2 Strategy and Business Expansion 112
12.2.1 May 27, 2011: Gazprom And E.ON Discuss Joint Projects 112
12.2.2 Dec 07, 2010: Gazprom, Wintershall Sign Sci-Tech Cooperation Program 112
12.2.3 Aug 27, 2010: RWE And Kurdistan Regional Government Of Iraq Sign Cooperation Agreements 112
12.3 Other Significant Developments 113
12.3.1 May 15, 2012: Shell Resumes Operations At Godorf Refinery Units 113
12.3.2 May 10, 2012: RWE Dea To Conduct Seismic Surveys At Natural Gas Field In Volkersen 113
12.3.3 May 03, 2012: E.ON To Transform Into European Company 114
12.3.4 Apr 16, 2012: VNG Appoints Rainer Seele As Chairman 114
12.3.5 Apr 04, 2012: Germany Seeks Delay In Operations Of Ust Luga Oil Terminal 114
12.3.6 Mar 30, 2012: E.ON Appoints Stein Dale As CEO Of E.ON International Energy 115
12.3.7 Mar 20, 2012: RWE Dea Provides 2011 Operations Update 115
12.4 New Contracts Announcements 117
12.4.1 Mar 18, 2010: Technip Secures Contract For Nord Stream Project In Baltic Sea 117
12.4.2 Feb 04, 2010: Gassco Awards NOK50 Million Contract To CB&I Lummus To Upgrade Norsea Gas Terminal In Germany 117
13 Appendix 119
13.1 Abbreviations 119
13.2 Methodology 119
13.2.1 Coverage 119
13.2.2 Secondary Research 120
13.2.3 Primary Research 120
13.3 Contact Us 120
13.4 Disclaimer 121

List of Tables
1.1 List of Tables
Table 1: Germany, Historical and Forecast Production and Consumption of Oil, Thousand Barrels Per Day, 2000-2020 11
Table 2: Germany, Historical and Forecast Exports and Imports of Oil, Thousand Barrels Per Day, 2000-2020 13
Table 3: Germany, Historical Reserves of Crude Oil (Million Barrels), 2000-2011 15
Table 4: Western Europe, Investment Benchmarking, Overall Country Rankings, May 2012 17
Table 5: Western Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, May 2012 18
Table 6: Western Europe, Investment Benchmarking, Oil Sector Performance, May 2012 19
Table 7: Western Europe, Investment Benchmarking, Economic Performance, May 2012 23
Table 8: Western Europe, Country Standings, Economic Performance, by GDP Growth-FDI Confidence and Production Indices, May 2012 24
Table 9: Western Europe, Investment Benchmarking, Socio-Political Performance, May 2012 25
Table 10: Western Europe, Country Standings, Socio-Political Performance, by Exploration Growth- FDI Confidence and Governance Indices, May 2012 26
Table 11: Germany, Crude Oil Key Statistics, 2011 28
Table 12: Germany, Total Gross Crude Oil Production (MMBBLs), 2003-2011 29
Table 13: Germany, Gross Crude Oil Production (MMBBLs) by Type, 2003- 2011 30
Table 14: Germany, Gross Crude Oil Production (MMBBLs), by Assets, 2003-2011 31
Table 15: Germany, Gross Equity Weighted Crude Oil Production by Company (MMBBLs), 2003-2011 32
Table 16: Germany, Market Share (%) of Key Companies based on Gross Equity Weighted Crude Oil Production, 2003-2011 33
Table 17: Germany, Gross Crude Oil Production (MMBBLs), Forecast by Assets, 2012- 2016 34
Table 18: Germany, Active Oil Field Assets Details 36
Table 19: Germany, Planned Oil Field Assets Details 37
Table 20: Germany, Pipeline Key Statistics, May 2012 43
Table 21: Germany, Crude Oil Pipeline Length by Company (Km), May 2012 43
Table 22: Germany, Petroleum Product Pipeline Length By Company (Km), May 2012 44
Table 23: Germany, Crude Oil Pipelines, May 2012 46
Table 24: Germany, Petroleum Product Pipelines, May 2012 47
Table 25: Germany, Refinery Key Statistics, May 2012 48
Table 26: Germany, Total Refining Capacity (MMTPA), 2005- 2016 48
Table 27: Germany, Total Refining Capacity by Company (MMTPA), 2005- 2016 49
Table 28: Germany, Crude Distillation Unit Capacity (MMTPA), 2005-2016 51
Table 29: Germany, Coking Unit Capacity (MMTPA), 2005-2016 52
Table 30: Germany, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2005-2016 52
Table 31: Germany, Hydrocracking Unit Capacity (MMTPA), 2005-2016 53
Table 32: Germany, Oil and Chemicals Storage Key Statistics, May 2012 54
Table 33: Germany, Total Oil and Chemicals Storage Capacity (Thousand M3), 2005- 2016 54
Table 34: Germany, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2005-2016 56
Table 35: Germany, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 58
Table 36: Germany, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 (Contd.1) 59
Table 37: Germany, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 (Contd.2) 60
Table 38: Germany, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 (Contd.3) 61
Table 39: Germany, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 (Contd.4) 62
Table 40: Germany, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 (Contd.5) 63
Table 41: GDF SUEZ SA, Key Facts 64
Table 42: GDF SUEZ SA, SWOT Analysis 67
Table 43: Exxon Mobil Corporation, Key Facts 74
Table 44: Exxon Mobil Corporation, SWOT Analysis 78
Table 45: Gaz de France, Key Facts 85
Table 46: Gaz de France, SWOT Analysis 87
Table 47: Macquarie Consortium To Acquire Open Grid Europe From E.ON For $4.07 Billion 90
Table 48: OMV Plans To Sell 45% Stake In Bayernoil Raffineriegesellschaft 92
Table 49: Fluxys G To Acquire German Gas Pipeline System From Eni For $82.2 Million 93
Table 50: Tulip Oil To Acquire 75% Stake In Rhein Petroleum 95
Table 51: Vattenfall Sells 24.9% Stake In Stadtische Werke To Thuga 96
Table 52: Energie Baden-Wurttemberg Announces Public Offering Of Bonds Due 2072 For $328 Million 97
Table 53: RWE Completes Public Offering Of 4.75% Bonds Due 2034 For $918.5 Million 98
Table 54: EWE Prices Public Offering Of 4.125% Bonds Due 2020 For $694.2 Million 99
Table 55: EnBW Energie Baden-Wurttemberg Completes Public Offering Of 7.375% Bonds Due 2072 For $1,041.27 Million 100
Table 56: Linde Completes Private Placement Of 3.875% Senior Notes Due 2021 For $844.7 Million 101
Table 57: PRD Energy Awarded Oberg Production License In Germany 102
Table 58: PRD Energy Awarded Two Production License In Germany 102
Table 59: PRD Energy Awarded Production License In Germany 103
Table 60: BNK Petroleum Awarded Weinbergen Oil And Gas Concession In Thuringian Basin Of Germany 103
Table 61: PRD Energy Awarded Exploration And Production Licenses Onshore Germany 104
Table 62: Klesch Group Plans To Acquire Three Refineries From Petroplus 105
Table 63: Hestya Energy To Acquire Wilhelmshaven Refinery, Tank Farm And Marine Terminal 106
Table 64: Fluxys Acquires 19% Stake In North European Gas Pipeline 107
Table 65: N.V. Nederlandse Gasunie Plans To Acquire 20% Stake In North European Gas Pipeline 108
Table 66: GDF SUEZ Acquires 9% Stake In Nord Stream Gas Pipeline Project 109

List of Figures
1.2 List Of Figures
Figure 1: Germany, Energy Consumption Split By Fuel Type (%), 2011 10
Figure 2: Germany, Oil Production And Consumption, Thousand Barrels Per Day, 2000-2020 12
Figure 3: Germany, Oil Exports And Imports, Thousand Barrels Per Day, 2000-2020 14
Figure 4: Germany, Crude Oil Reserves, Million Barrels, 2000-2011 15
Figure 5: Western Europe, Country Standings, Upstream Fiscal Attractiveness, May 2012 18
Figure 6: Western Europe, Country Standings, Oil Sector Performance, by Reserves-Exploration & Production, May 2012 20
Figure 7: Western Europe, Country Standings, Oil Sector Performance, by Production-Consumption & Refining, May 2012 21
Figure 8: Western Europe, Country Standings, Number Of Exploration Blocks Awarded, May 2012 22
Figure 9: Western Europe, Country Standings, Economic Performance, by GDP Growth-FDI Confidence and Production Indices, May 2012 24
Figure 10: Western Europe, Country Standings, Socio-Political Performance, by Exploration Growth- FDI Confidence and Production Indices, May 2012 26
Figure 11: Germany, Crude Oil Assets Map, May 2012 28
Figure 12: Germany, Total Gross Crude Oil Production (MMBBLs), 2003-2011 29
Figure 13: Germany, Gross Crude Oil Production (MMBBLs) by Type, 2003-2011 30
Figure 14: Germany, Gross Equity Weighted Crude Oil Production by Key Companies (MMBBLs), 2003-2011 33
Figure 15: Germany, Market Share (%) of Key Companies based on Gross Equity Weighted Crude Oil Production, 2011 34
Figure 16: Germany, Crude Oil Pipeline Length by Company (Km), May 2012 44
Figure 17: Germany, Petroleum Product Pipeline Length By Company (Km), May 2012 45
Figure 18: Germany, Total Refining Capacity (MMTPA), 2005- 2016 49
Figure 19: Germany, Market Share (%) by Key Companies, 2011 50
Figure 20: Germany, Total Oil and Chemicals Storage Capacity (Thousand M3), 2005- 2016 55
Figure 21: Germany, Oil and Chemicals Storage Capacity by Major Areas (%), 2011 56
Figure 22: Germany, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2005-2016 57