Issue 50

Oil & Gas

• UAE’s Wait To Tap Into Expanded Capacity Goes On
• Chevron Appears To Bend To Nicosia’s Aphrodite Plan: Is It Just Stalling?

Corporate

• Sonatrach Hikes Investment Plan As Drilling Nears 5-Year High
• Frenkel To Up Tamar Stake?
• US Majors Up Capex, Shale Exposure
• Tunisia & Libya Offer Up Border Discovery & Exploration Block In Bidding

OPEC

• Mounting Economic Concerns Weigh On 2024 Oil Demand Expectations

Geopolitical Risk

• Iran-Aligned Militia Attacks Complicate Delicate Iraqi-US Relations
• Libya’s Legal Battle To Recover Billions In Overseas Assets
• Kuwait’s Cabinet Looks Ahead To A Troublesome 2024

Refining & Petrochemicals

• ‘First Mover’ Acwa Power Announces Delivery Of Neom Electrolyzer
• Oman Kicks Off First Hydrogen Project In South With An Upgraded $8bn Plan

Power & Water

• Morocco’s 1.6GW Noor Midelt Solar: Phase III Prequalifiers, Phase I Delayed

Economics & Finance

• Egypt’s Financial Woes Mount: Record Debt & Deficit As Devaluation Looms

News In Brief

• Crescent Eyes $1bn Iraq Investment
• Inpex To Keep 20% Iraq Stake
• Oman: Electrolyzer Plant
• Libya Oil Output Boost
• Libya Renewables Strategy
• Crude OSPs ($/B): Iraq & Kuwait Cut Vs Saudi
• Cop28 Reaches Agreement To Transition Away From Fossil Fuels

Selected Data

• Benchmark Crude Prices ($/B)
• US Crude, Gas, NGLs All At Record Levels