Issue 32

Oil & Gas

• Eni Output Down In Q2 But On Course To Meet 2015 Levels
• Iraq Drilling Falls To Four-Year Low As Companies Cut Costs But Saudi Keeps Up Near Record Levels

Transportation

• KRG Struggling To Make IOC Payments As Prepayments Dry Up

Refining & Petrochemicals

• Iran Lines Up Linde To Design Cracker In Giant 12th Olefin Complex
• Iran And Indonesia Studying Joint Refinery, Sign Upstream Deal

Power & Water

• Egypt Hikes Electricity Prices To Cut Subsidies Bill, As IMF Agrees $12Bn Loan
• Morocco Wind Farm Award

OPEC

• Temporary Oil Market Balancing Offset by Record Stocks

Geopolitical Risk

• Libya Unification Deal On Shaky Ground, Exports Increase Still To Materialize

Corporate

• Slimmed Down Oxy Emerges Following Divestments

Economics & Finance

• Iranian Parliament Approves Use Of Forex Reserves For Government Debt Settlement
• Tunisia Launches $500mn bond
• Algeria’s Trade Balance Worsens As Government Ponders Austerity Policy

Selected Data

• Crude Official Selling Prices ($/B)
• Saudi Aramco Contract Prices For LPG Exports ($/T)
• Benchmark Crude Prices ($/B)
• US Oil Exports* Hit Record 5.41mn B/D In 2Q16 As Regulations Become More Relaxed (Mn B/D)