Issue 33

Oil & Gas

• UAE Moors 2nd FSRU As It Looks To Take Advantage Of Cheap LNG

Transportation

• Spanish Crude Imports (‘000 B/D): Mideast Suppliers Capitalize On Collapse In Angolan & Venezuelan Volumes. Can Iran, Top Supplier Till 2010, Increase Its Gains?

Refining & Petrochemicals

• Oman’s Sohar $2.1bn Refinery Expansion Schedule Pushed Back

Power & Water

• SEC Identifying Sites For Solar Plants, Sanctions 300MW Renewables Program
• Egypt Signs $3bn Solar Deal with China

OPEC

• Saudi Arabia First Half Crude Burn At Three-Year Low

Geopolitical Risk

• Politics And Prices Stifling East Mediterranean Gas Hopes
• New Iraqi Oil Minister Sets Out Priorities
• GCC Fiscal Reforms: Long Overdue And A Long Road Ahead

Corporate

• Dana Gas Eyes Further Egyptian Production Gains

Economics & Finance

• IMF Loan To Egypt Will Need To Be Supplemented With Serious Reforms
• Iran Struggles To Reduce Cash Subsidies Outlay
• Israel Ordered To Settle Iran Debt

Selected Data

• Crude Official Selling Prices ($/B)
• Benchmark Crude Prices ($/B)
• Egypt Gas Output Continues To Fall In Q2 As Oil Production Records Marginal Gain