Issue 23

Oil & Gas

• Bahrain: New Minister Challenged By Oxy/Mubadala Withdrawal
• Bahrain Plans Sitra Gasoline Hub
• KRG Struggles To Cope With Soaring Debt Payments
• May 2016 Rig Count: US Weekly Rig Count Finally Edges Higher As Brent Tops $52/B For First Time In Eight Months

Transportation

• Qatar’s Share Of Indian LNG Imports Rebounds To 84% In 1Q16 (Mn Tons)...
• Indian Imports Record Crude Volumes From Saudi, Iraq In Q1 With Total 2015-16* Volumes Up 270,000 B/D (‘000 B/D)

Refining & Petrochemicals

• Iran Taps Koreans For Tabriz Refinery, Eyes $3.3bn Siraf Funding

Power & Water

• Saudi Kicks Off New Solar Projects, Gets Realistic With Long-Term Goals

OPEC

• OPEC May Production Drops Despite Saudi And Iran Increases
• US Imports More Gulf Opec Crude As Production Continues To Fall

Geopolitical Risk

• Libya: Joint Action Pushes Back IS, But Unity Far From Complete

Corporate

• Israel: Leviathan Plan Approved But Sales Still Needed
• Dubai’s Dewa Doubles Coal-Fired Plan

Economics & Finance

• Saudi Arabia’s Transformation Plan Already Running Out of Time
• Iran Struggles To Attract Investment Amid Continued Sanctions, Both Real & Perceived
• Iraq Plans Eurobond By End-2016
• Saudi Petchems Firm Gets 20% Capital Hike

Selected Data

• Indian LNG IMPORTS: Prices Fall By 33% In 2015-16 Financial Year As Qatar’s Share Falls By Almost 20%
• Crude Official Selling Prices ($/B)
• Benchmark Crude Prices ($/B)
• Canadian Fires Fan Global Unplanned Oil Supply Outages To A Record 3.6mn B/D In May (EIA Estimates)