Issue 02

Oil & Gas

• Iraq December Oil Exports Hit Record But At What Price?
• KRG Gas: Payments Dispute Stymies Progress
• Iraqi Kurdistan: Oil Output Up And Rising
• KRG Expects 2014 Refinery Deliveries To Top 108,000 BOE/D

Transportation

• Oil Price Slide Exposes Flaws In Juba-Khartoum Transit Fee Deal

Refining & Petrochemicals

• Kuwait Petchems Expansion Moves Slowly Despite Equate PE Boost
• Al Zour Politics

Power & Water

• Saudi Arabia In 550MW Turbines Award; 2014’s 8.2GW Start-Ups Hike Output

OPEC

• OPEC Maintains Output In December; Riyadh Maintains Hardball Stance

Geopolitical Risk

• Egypt Taps Gulf, China To Fund Power Expansion Plans
• MEES Analysis: Bid Round Offers Century Old Acreage

Corporate

• Cairo Begins To Restore Faith In Its Oil And Gas Sector

Economics & Finance

• Egypt To Borrow $1.5Bn
• Fitch Upgrades Egypt
• Dubai 2015 Budget
• Oman Slashes Spending For 2015, But Will More Cuts Be Needed?

Selected Data

• Saudi Arabia Official Crude & Products Output, Consumption And Trade Figures, October 2014 (‘000 B/D)
• Saudi ‘Off-Spec’ On 2016 Product Quality Target
• Crude Official Selling Prices ($/B)
• MENA Active Drilling Rigs,December 2014
• Benchmark Crude Prices ($/B)
• SAUDI ARABIA RAISES ASIA OSPs FOR FEBRUARY ($/B Vs OMAN/DUBAI)