Issue 25

Oil & Gas

• Exxon Walks Away From Iraq Seawater Project

Corporate

• Total Poised For Further Mena Upstream Expansion

OPEC

• Saudi Wins Out, Opec Switches To Group Ceiling
• US Shale: Reading The Runes On Future Supply Growth

Geopolitical Risk

• Shaikan Output To Double After Deal With KRG
• OMV Tests Yemen Restart

Refining & Petrochemicals

• Saudi Petchems JVs Get Greedy For Naphtha, Cutting Into Exports
• Saudi Arabia April 2018 Oil Data (‘000 B/D): Crude Exports Hit 15-Month High 7.31mn B/D As Refinery Intake Falls To 15-Month Low

Power & Water

• Algeria Makes Electricity Gains, But Struggles To Power The Future

Economics & Finance

• Egypt Continues Subsidy Reform, Hikes Fuel Prices

Op-Ed & Documents

• IOC Reserves Growth Mantra: Is Repsol Move The Beginning Of The End?

Selected Data

• US Key Oil Data (‘000 B/D): Crude Exports Break 2mn B/D Mark For First Time In May, Output Keeps Rising To New Records
• Crude Official Selling Prices ($/B)
• Benchmark Crude Prices ($/B)
• Crude Output From Us Shale Plays* Soars To Successive New Records With Not Only The Permian (3.28mn B/D), But Also The Bakken (1.27mn B/D) Set To Hit Record Highs In June (Mn B/D)