Issue 27

Oil & Gas

• Genel Treading Water Despite KRG Investments
• Egypt: Oil Drilling Uptick On Higher Prices, Output To Follow?

Transportation

• Panama Expansion Puts East Asia In Reach Of Nascent US LNG Exports
• Global Gas Benchmark Converging, And At A Lower Level ($/Mn Btu): Japanese Prices Are Now Just Over Twice US Levels, Down From A Peak Multiple Of Six In 2012

Refining & Petrochemicals

• Saudi Overseas Refining In Flux: Spat Over US Break-Up Amid China Push

Power & Water

• Saudi Electricity Taps China For $1.5bn, Takes Expansion Funding To $33bn

OPEC

• Opec On Track For Record Annual Output Despite Unplanned Outages

Geopolitical Risk

• Egypt Finally Pays Off $7bn Debt To Qatar, Backer Of Previous Islamist Government

Corporate

• Abu Dhabi Streamlining Creates $135bn Energy Fund With Global Reach
• Abu Dhabi Banking Giants In $29bn Merger

Economics & Finance

• Iran: Payments Start Flowing But Fear Factor Remains
• List Of Domestic Oil Partners Contains Nasty Surprise
• Kuwait Eyes Short Term $17bn Debt Market Boost; Longer-Term Reform Is Needed

Selected Data

• Crude Official Selling Prices ($/B)
• Benchmark Crude Prices ($/B)
• Saudi Arabia: Big In Japan And Getting Bigger