Issue 02

Oil & Gas

• Iran Inaugurates New South Pars Phases, But Ambitious Targets Look Unrealistic
• Oman, Bahrain, Qatar Follow Saudi In Hiking Fuel Prices

Transportation

• Sinai Instability Headache For Regional Pipeline Plans
• Kuwait Funding For Egypt-Saudi Grid Link

Refining & Petrochemicals

• Aramco Clarifies Downstream Divestment Plans After IPO Announcement

Power & Water

• Jordan Steps Up Power Diversity Efforts, Eyes More LNG Imports
• Egypt Combined Cycle Deals

Corporate

• KRG Falling Oil Revenue Exacerbates Economic Crisis
• Gulf Keystone Cash Position Slowly Improves on KRG Payments

OPEC

• US Crude Defies Expectations, Thwarts Saudi Strategy

Geopolitical Risk

• Iraq: Abadi Pivots From Ramadi to Basra
• IS Attacks Again As Baida-Aligned Guards Block Tripoli Crude Shipment

Economics & Finance

• World Bank Hikes Iran Growth Forecast But Global Storm Clouds Gather
• Don’t Lower Oil Prices Boost Global Growth?
• Growth Forecasts - Caveat Emptor
• IMF Approves Iraq Monitoring Program
• Iran Prepares To Slash Spending
• Shell, Iran Clear Debt

Selected Data

• US 2015 Oil Data: Annual Crude Output Hits Record 9.4mn B/D, But Now 600,000 B/D Down
• Crude Official Selling Prices ($/B)
• Saudi Arabia And Oman Again Hit New Rig Count Records In December
• Benchmark Crude Prices ($/B)
• Russian Oil Output Hits New Post-Soviet Records Of 10.68mn B/D For 2015 And 10.78mn B/D For December, But Amid Capex Cuts Can This Continue?