Issue 04

Oil & Gas

• Output At Key Kurdistan Oil Field Could Fall 60% in 2017
• Libya’s NOC To Lift Investment Moratorium; But Divisions Remain
• Oman’s Reliance On Chinese Crude Export Markets Deepens

Transportation

• China 2016 LNG Imports: Australia Soars Past Qatar As Undisputed #1 Amid 33% Rise In Overall Volumes

Refining & Petrochemicals

• UAE’s Takreer Investigating Ruwais Expansion Refinery Fire
• Abu Dhabi Consolidates Asia Trade Links

Power & Water

• Saudi Ups Power Profits Ahead Of Planned Sell-Off
• GE $1.4b Iraq Power Deal

OPEC

• GCC Drilling Remains Strong Despite Upstream Capex Cuts

Geopolitical Risk

• Iraq: Mosul Offensive Gains Momentum Amid Lingering Failures
• Iraq Targets Crude Terminal Expansion
• Politics Prioritized As Lebanon Advances Bidding Plans
• Total: Cyprus “Thrilling”

Corporate

• Saudi Petchem Profits Up 8% In 2016, But Sabic Under Pressure
• Sabic Buys Out Shell From Sadaf JV For $820mn

Economics & Finance

• Iraq Gets US Backing For $1bn Bond Issue
• Egypt $4bn Eurobond
• Jordan Slashes Planned Deficit By 25% For 2017

Selected Data

• Chinese Crude Imports 2016 (‘000 B/D): Record Volumes But Gulf Share Down As Russia Tops Saudi As Top Supplier
• Benchmark Crude Prices ($/B)
• China’s Top Crude Suppliers (‘000 B/D): Russia Passes Saudi As #1 In 2016... As Iran, Iraq, Kuwait, Oman Also Notch Up New Records (‘000b/D 2016 Vs 2015)