Issue 28

Oil & Gas

• Saudi Offshore Oil Expansion Surges Ahead With $18bn Development
• Tunisia Awards Six Blocks, But Any Rewards Will Be A Long Time Coming

Corporate

• Iraq’s Tight Margins Take Toll On Foreign Majors

OPEC

• South Korea 2Q19 Crude & Condensate Imports ('000 B/D): Middle East Share Up Quarter-On-Quarter But Still Down On 2017 Levels
• Opec Faces Further Squeezes In 2020

Geopolitical Risk

• The Terror Risk To Tunisia’s Tourism Industry
• Qatar Investments Win Trump Approval

Power & Water

• Algeria Adding Powergen Capacity, But Big CCGT Progress Piecemeal
• Egypt Refining Projects Inching Forward As Subsidy Cuts Curb Consumption

Refining & Petrochemicals

• End In Sight For Egypt’s Fuel Subsidies

Economics & Finance

• Kuwait Eyes Huge 2019-20 Budget Deficit

News In Brief

• UK-Iran Tensions Soar Following Hormuz Incident
• Sisi Approves Cyprus Pipeline
• Egypt Misses Receivables Deadline Again
• Korean Oil Imports Slump In Q2
• Egypt Starts Fertilizer Plant
• Siemens Wins Iraq CCGT Order
• UAE Certifies Reactor Operators
• Libya’s NOC Pushes Gas-To-Power Plan
• Tunisia Issue €700mn Bond

Selected Data

• South Korea 1H19 LNG Imports: Qatar Remains Top Supplier But Volumes Down 15% Year-On-Year
• Crude Official Selling Prices ($/B): Gulf Suppliers Cut Key Light Grades To Asia In August
• Benchmark Crude Prices ($/B)
• Middle East Rig-Count* Rises To Record Quarterly Average Of 420 For Q2 : Abu Dhabi Hits All-Time Record Of 57 For June, Iraq At 5-Year High Of 75