Issue 04

Oil & Gas

• Oman Gas Output Surges To Record 54.5bcm For 2024 With Further Expansions Eyed
• Opec+ Cuts Crimp Oman 2024 Oil Output
• Libya Eyes $3-4bn Investment To Hit 1.6mn b/d End-2025 Target, Bid Round Expected Soon
• Iraq Targets 200k 2025 Boost At Wq-1
• East Baghdad Reserves Hike
• Kuwait Announces Second Offshore Discovery
• BP Spuds Egypt Well As Shell Eyes Higher WDDM Gas Price
• Exxon Spuds Key Cyprus Wildcat
• Trump’s Twin Desires: Energy Dominance & Low Prices

Corporate

• Adnoc Looks To Central Asia For Gas-Focused Expansion

OPEC

• China Imports Record Volumes Of Russia, Iraq & Iran Crude For 2024

Geopolitical Risk

• Iran’s Economy Crippled By Gas & Power Shortages With ‘Maximum Pressure’ To Come
• Iraq Suffers Blackouts Amid Meagre Iran Gas Flows

Refining & Petrochemicals

• Syria Issues ‘Urgent’ Oil Import Tenders

Power & Water

• Adnoc’s $3.8bn Offshore Electrification Project Hits Key Milestone
• Ewec: $10bn Adnoc Gas Supply Deal

Economics & Finance

• Sudan: No Sign Of Crude Flows As Oil Debts Mount

News In Brief

• Houthis: ‘Red Sea Is Open’
• Oman 1GW Solar Online
• Egypt Advances 1GW Solar
• Tunisia 200MW Solar Tender
• New Oman Privatization
• Oman-Trafi Bunker JV
• Libya Welcomes Frozen Asset Breakthrough

Selected Data

• Saudi Arabia Key Oil Stats, 11m 2024 (‘000 b/d): Refinery Runs On Course For Annual Rise
• Benchmark Crude Prices ($/B)
• Drill Baby Drill? US Rig Count Enters Trump 2.0 Era At Three-Year Low