Issue 03

Oil & Gas

• Decision on UAE Onshore Concession Imminent
• Afren Slashes Kurdish Reserves, Shares Tumble
• Petroceltic Pares Capex On Lower Prices
• Egypt Receivables Down 40%, But $5.4bn Still Owed – MEES Analysis

Transportation

• Cairo Steps On The GasIn Bid To Ease Shortages

Refining & Petrochemicals

• Mideast Plastics Conversion To Rise 40% By 2020, But ‘Specialty’ Needed
• UAE’s DFT Opens Niche Fuels Processing Plant Near Ajman Port

Power & Water

• Morocco In 350MW Solar Awards As Part Of Diversity Plan

OPEC

• US, Saudi In Energy Talks As Oil Prices Plunge
• US Posts Record Year In 2014 - Data Special*

Geopolitical Risk

• Saudi-UAE: The Start Of A Beautiful Relationship?

Corporate

• Qatar Shelves $6.5bn Al-Karaana Project, QP Rethinking Ethane Usage
• Oman Puts Oil Assets On The Block Amid Budget Squeeze
• Oman Adding Musandam Gas-Fired Capacity

Economics & Finance

• Kuwait Development Plan Based On $45/B Oil
• Kuwait Looks To Project ‘Business As Usual’ With $4.2bn Award
• Iran Mulls $40/B Oil
• Iraq’s Budget Debate Stalls Over Oil Price
• Algeria Ignores Storm Clouds With 2015 Budget
• Saudi Growth Slashed

Selected Data

• South Korean Crude Imports: OPEC Maintains 85% Share For 2014 (‘000 B/D)
• US Oil Output Rises 15% To Hit Record 12.7mn B/D In 2014 But Growth Slows In Q4
• Crude Official Selling Prices ($/B)
• Benchmark Crude Prices ($/B)
• GLOBAL, MENA GDP GROWTH REVISED DOWN - WORLD BANK