Issue 16

Oil & Gas

• Cyprus Set To Launch Reduced Drilling Campaign
• Eni Works To Counter Water Infiltration At Zohr

Corporate

• China’s UEG Advances Iraq Block 9 Expansion, But Egypt Production Slumps
• Iraq’s Akkas Gas Project: Halliburton Closes In On Appraisal Drilling Deal

OPEC

• China Imports Record Q1 Mideast Crude As Overall Demand Subdued

Geopolitical Risk

• Fresh Libya Oil Blockades Risk 1mn b/d Outage

Power & Water

• Morocco Boosts Solar Ambitions With 333MW PV Awards

Refining & Petrochemicals

• Subsidies & Smuggling Precipitate Iraq Fuel Crisis Despite Record Refinery Output
• Saudi Crude Exports At 22-Month High As Crude Burn Falls
• Egypt Oil Burn Rises As Gas Exports Maxed
• Egypt Subsidy Bill Set To Rise As Fuel Prices See Only Minor Hike

Economics & Finance

• Food & Fuel: Surging Prices Spell Mixed Fortunes In North Africa
• IMF Slashes Global Growth Forecast, Gulf Oil Exporters The Key Exception

News In Brief

• EDF Signs $3bn Egypt Green Ammonia Mou
• Iran: New Oil Products Pipeline
• Iraq Eyes Iran Power Imports
• Kuwait Set To Finalize Drilling Pipeline Contracts
• Egypt’s Suez Canal Saw Monthly Toll Revenue Top $600mn For The First Time In March ($mn)

Selected Data

• Crude Official Selling Prices ($/B)
• Saudi LPG Official Contract Prices ($/T)
• Benchmark Crude Prices ($/B)
• Key Gulf-To-Asia OSPs: Record Premiums For May But Iraq Slashes Vs Saudi In Bid To Stay Competitive