Issue 02

Oil & Gas

• Iraq Nears 5mn b/d Production Capacity Ahead Of Schedule
• Libya Revenues At 5-Year High But Remain Unstable As Noc Eyes Gas Boost

Corporate

• Aramco Readies For Sabic Acquisition, IPO With Reserves Upgrade, Bond Plans
• Saudi Kicks Off 2019 Fundraising With $7.5bn Bond Issue

OPEC

• Opec December Output Tumbled Ahead Of Latest Round Of Cuts

Geopolitical Risk

• Saudi, UAE Tighten Pakistan Links With Downstream Dollar Diplomacy

Refining & Petrochemicals

• Qatar Petchems To Benefit From QP’s Upstream Ambition

Power & Water

• Saudi Firm Acwa Power Eyes Funding Options For Bumper Projects Portfolio

Economics & Finance

• Egypt Delays Subsidy Reform With Economy On The Mend
• Algeria Set For 11th Straight Deficit In 2019

News In Brief

• KRG-Focused DNO Takes Faroe
• Iraq, Iran Oil Chiefs Hold Talks
• Aramco JV Refinery On Test
• Iran Keeps Asian OSP Prices At Record Lows In February Versus Competing Saudi Grades ($/B Fob, Asian Delivery)
• Nasdaq Dubai Trades Saudi Equity Futures
• EXXON Eyes Second Cyprus Target
• EDF Seeks Buyer For EDISON Egypt, Algeria Assets

Selected Data

• South Korea 2018 Crude & Condensate Imports (‘000 B/D): Middle East Share At Record 74.1% Low Despite Record Saudi Volumes; Iran At Zero For 4th Straight Month In December
• Benchmark Crude Prices ($/B)
• Egypt Condensate Output Hits 5-Year High Of 92,000 B/D With Mediterranean Contribution Boosted By Record Gas Output ('000 B/D)