Issue 32

Oil & Gas

• Israel-Egypt Gas Volumes To Rise From May 2025 With Pipeline Start-Up

Corporate

• Aramco Records $29bn Net Income For Q2
• Adnoc Drilling Looks Overseas
• Taqa Exits Kurdistan

OPEC

• Opec Output Rises To Highest Level This Year

Geopolitical Risk

• Libya Declares Force Majeure On Sharara Amid Renewed Political Tensions

Refining & Petrochemicals

• China Chemicals At Heart Of Aramco’s Expansion Drive
• Aramco To Increase Stake In Loss-Making Petro Rabigh

Power & Water

• Iraq Gas Capture Finally Gaining Traction

Economics & Finance

• Qatar’s Surpluses Shrink On Lower Hydrocarbon Receipts
• Saudi Arabia Deficit Stays Stable At $4.1bn For Q2
• Libya Expects Breakthrough Decision On Frozen Assets By End-2024

News In Brief

• Oman: IGC Sells First Spot Gas
• Oman: Sohar CDU Down
• Qatar: Nakilat Eyes 114-Strong Fleet
• Adnoc Signs HOA With Osaka Gas For Ruwais LNG Volumes
• Fujairah Signs MoU With Egypt For Petroleum Investments
• Saudi Aramco Holds Steady With OSPs to Asia

Selected Data

• Crude Official Selling Prices ($/B): Aramco Increases Asia Prices While Slashing Europe Prices
• Saudi LPG Official Contract Prices ($/T)
• Benchmark Crude Prices ($/B)
• Turkey Gas Imports: Volumes From Iran Are Again Down Year-On-Year In Early 2024 (Bcm)