Issue 18

Oil & Gas

• Iraq To Tap IOCs For Massive Output Cut
• Iraq Oil Revenues Collapse
• Crisis Puts KRG-Baghdad Tensions On Full Display
• Oman: Firms, Government In Tight Spot As 30% Output Cut Looms
• Lebanon Gas Ambitions In Limbo As Virgin Well Falls Flat
• Egypt, Eni Damietta Deal Falls Through

Corporate

• Leviathan, Tamar Shareholders Sue Over Egypt Gas Deal
• Egypt Seeks IMF Assistance
• Fujairah Storage Hub Set For Industry Boost
• Abu Dhabi Solar Record

OPEC

• Majors Hit By Enforced Opec Cuts
• IEA Projects ‘Staggering’ Drop In Energy Demand
• US Rigs Down 39% In April, Output Down 1mn B/D
• China Crude Imports: Saudi Keeps Lead; Iraq Record High; Iran Record Low
• Neutral Zone Crude Output Ramps Up
• Japan Crude Imports: UAE Overtakes Saudi, Mideast Share At Record High
• China, Japan LNG Imports: Qatar Loses Market Share In Q1

Geopolitical Risk

• Algeria: Exports Down, Revenue Down, Outlook Dire

Refining & Petrochemicals

• Sabic Outlines Plans For Capacity Expansions
• Sabic Announces Ambitious Renewables Target

Economics & Finance

• Saudi Arabia Posts $9bn Q1 Deficit, Worse To Come
• Qatar Export Revenue Drop

News In Brief

• Adnoc’s Ruwais At 46% Capacity
• Total Sees No Cuts To Amiral
• Taqa Shareholders Ok Takeover
• Hoegh Offers Cyprus FSRU
• Libya Gas Pipeline Reopens
• Crude OSPs ($/B): Oman At 18-Year Low In June

Selected Data

• China Crude Imports (‘000 B/D): Saudi Retains Top Spot In Q1 Despite March Imports Falling To 8-Month Low
• Japan Crude Oil & Condensate Imports ('000 B/D): UAE Overtakes Saudi Arabia As Top Supplier In Q1 2020
• China LNG Imports (Mn Tons): Qatar Continues To Lose Market Share
• Japan 1Q20 LNG Imports: Qatar Unable To Keep Pace With 2nd Placed Malaysia Which Saw Supplies Increase 67% Q-On-Q To 2-Year High
• Benchmark Crude Prices ($/B)
• China Q1 LNG Imports (Mn Tons): Volumes Edge Up Despite Covid Hitting Demand