Issue 48

Oil & Gas

• Iraq: Contract Revamp To Be Revealed This Month
• Adnoc Plans $109bn Spend, Prioritizes Gas & Downstream
• Adnoc Retail IPO
• Egypt: Gulf Of Suez Oil Output At 40-Year Low On Back Of Lower Prices, Capex
• Samsung Sue Saudis Over Power Project Cancelation
• Payment Problems
• Iraq Eyes $2b Bond in 2018

Transportation

• World’s #2 Lng Importer: With Another Record Month In Oct Will China Overtake Korea?
• Iran’s Five Key Asian Crude Customers Imported 1.70mn B/D In October*, Down From September’s Near-Record 1.92mn B/D

Refining & Petrochemicals

• Aramco & Sabic Think Big With $20bn Oil-To-Chemicals Plans

Power & Water

• Egypt Nuclear Plans Near Go-Ahead, Saudi Looks To Standardize Plant Design

OPEC

• Opec/Russia ‘Historic’ Strategic Alignment: Can It Hold?

Geopolitical Risk

• Libya’s Waha Ramps Up Output To 260,000 b/d But Challenges Lie Ahead

Corporate

• North Africa Focus For German $15bn Upstream Tie-Up

Economics & Finance

• Jordan Budgets For Lower Deficit, Cost Rationalization In 2018

Selected Data

• Benchmark Crude Prices ($/B)
• Saudi Oil* Exports (Mn B/D): Refined Products At Record 1.55mn B/D, 19.4% Of Total. Further Products Rise To Come With 2018 Start-Up Of 400,000 B/D Jazan Refinery. But Petchems Plans To Ultimately Limit Gains