Issue 03

Oil & Gas

• Shell Heading Towards UAE Door Over Bab Exit?
• Japan Fires Opening Shot In Battle For Adma-Opco Renewal
• BP Major Contributor To Egypt Five Year Strategy
• Oman’s Record Annual Output Can’t Mask Revenue Declines
• Saudi Oil Trade Hits New Records – Imports As Well As Exports
• Korea Crude Imports Hit Record As Iraqi Volumes Double
• Kuwaiti State Petchems Firm Joins Saudis In Korean Propane JV

Transportation

• South Korean LNG Appetite Thins Out, Prices Remain Under Pressure

Refining & Petrochemicals

• Oman Refining Output Up 5% In 2015, But Set To Fall In 2016 As New CDU Hooked Up

Power & Water

• Saudi Generator Secures $2bn Credit As Part Of Broader Saudi Funding Drive

OPEC

• Iran Return Sends Prices, Revenue Into The Deep Freeze

Geopolitical Risk

• Libya: IS Attacks Continue, As Does Uncertainty Over Unity Government

Corporate

• Genel Highlights Kurdistan’s Declining Crude Production
• Saudi Petchem Profits Hit By Crude Slump; Feedstock Price Hikes Add To Stress

Economics & Finance

• Iran Cuts 2016-17 Budget In Real Terms Despite Expected Boon Of Sanctions Relief
• IMF Downgrades MENA, Saudi Growth; Is It Enough?
• Oman Raises $1bn Loan
• Egypt Aiming To Trim Energy Subsidies This Year
• Saudi Arabia, China Sign Up For Closer Ties
• Iraq Belt Tightening

Selected Data

• Crude Official Selling Prices ($/B)
• Benchmark Crude Prices ($/B)
• Egypt Gas Output Drops To 10-Year Low Of 4.14bn Cfd In Nov As Oil Production Again Dips Following August Recovery