Issue 50

Oil & Gas

• Inpex Makes 1bn Barrel Abu Dhabi Discovery
• Iraq Targets 450,000 b/d Majnoon Capacity
• KRG Repayment Obligations Offset Oil Revenue Gains
• Algeria Awards Eni Upstream Contract, First Under New Oil Law
• Eni & Sonatrach Sign ‘Energy Transition’ Mou

Corporate

• Qatarenergy Egypt Entry Could Be Prelude To Further Energy Partnerships

OPEC

• OPEC, IEA Optimistic Over Return To Market Stability
• Permian Hits Output Record: Can It Keep Up The Growth?

Geopolitical Risk

• Morocco’s Economy Bounces Back, But Covid Weighs On Outlook
• Tunisia Lays Out Roadmap

Power & Water

• Energean’s Karish Sales In Doubt As Israel Gas-To-Power Market Hots Up
• Karish Oil Award

Refining & Petrochemicals

• Oman Commissioning $7bn Liwa Plastics Complex

Economics & Finance

• Saudi Budgets For 2022 Surplus: First In Nine Years
• Saudi Arabia Targets $101bn Renewable Energy Investment

News In Brief

• Israel PM: Historic UAE Visit
• Libya Election Set For Delay
• Iraq Sends Final Kuwait Compensation
• Iran Pays Down $7bn Iran Debt
• Neom Green Hydrogen: Key Electrolyzer Award
• Emirati Firms Invest In Ta’ziz Chemicals Zone
• China: Buoyant Oil Demand
• US Stocks Release
• LNG Prices Show No Sign Of Easing

Selected Data

• Saudi Key Oil Stats, October 2021 (‘000 B/D): Refining Runs At Highest Level Since Feb 2019
• Crude OSPs ($/B): Iraq & Kuwait Raise January Asia Prices, But By Less Than Saudi
• Benchmark Crude Prices ($/B)