Issue 49

Oil & Gas

• Malaysia’s Petronas Seeks To Kickstart UAE Unconventional Oil Development
• Israel Set For 65% Gas Capacity Hike By 2025 As Operators Advance Near-Term Plans
• Libya Calls On IOCs To Return To Work

Corporate

• Tunisia Struggles To Keep Oil & Gas Output Up

OPEC

• Saudi Cuts Asian Prices Amid Market Uncertainty
• Opec Output Falls By 800,000 b/d As November Cuts Take Effect
• US Output: Near Term Boost As Gas & NGLS Surge
• US Majors Hike 2023 Capex, Double Down On Domestic Focus
• China Crude Imports Surge

Geopolitical Risk

• Iraq’s New PM Sudani Eyes Diplomatic Gains From Saudi Summit

Refining & Petrochemicals

• Kuwait Looks To Capitalize On Europe Oil Products Sales Opportunity
• Saudi Arabia’s Advanced Petrochemicals Gets Boost For Key Expansion Project
• Saudi Arabia Increases 2023 Budget Expectations

Power & Water

• Oman Explores Industrial Uses Of Green Hydrogen With ‘Green Steel’ Plant
• Egypt Inks Seven More Green Hydrogen Mous, Including With BP

News In Brief

• IPO For Aramco’s Luberef
• Radical Masdar Deal Completes
• Iraq Pays Off Iran Gas Debt
• Gulf Rig Counts Climb As NOCS Step Up Investment But For Saudi Aramco And Adnoc Figures Remain Well Shy Of Last Decade’s Record Highs
• Israel & Morocco Scratch Each Other’s Backs As Newmed Pledges To Explore Off Western Sahara

Selected Data

• Benchmark Crude Prices ($/B)
• Russia’s Key Crude Customers (‘000 B/D): As Eu Countries Cut Buying To Record Low In Advance Of 5 December Halt* Can China, India And Turkey Increase Again From Recent Record Levels?