Issue 20

Oil & Gas

• Egypt: New Deals Boost Gas Output, Oil Decline Continues
• Adnoc’s XRG Seals Turkmenistan Entry
• Kuwait Examining New Upstream Contract Model
• Aramco Set For Record Annual Gas Output After Q1 Gains

Corporate

• Aramco Capex Proves Resilient In Spite Of Lower Prices

OPEC

• IEA Revises Up Global Demand Figures

Geopolitical Risk

• Trump Offers Syria ‘Chance At Greatness,’ Pledges To Remove US Sanctions
• Optimism Slowly Growing In Lebanon
• Dar Crude Exports Resume Despite Port Sudan Strikes
• Deadly Clashes Threaten Libya’s Short-Lived Stability

Power & Water

• Bleak Summer Electricity Provision Outlook For Iraq
• Egypt Seals Four FSRU Deals As Israel Imports Hit April High

Economics & Finance

• Gulf NOCs Tap Into World-Leading US LNG Sector

News In Brief

• Geo-Jade SIGNS Tuba ‘Integrated’ HoA
• Iraq Targets 120,000 b/d From East Baghdad Field
• OMAN: ABRAJ TO DRILL IN BLOCK 61
• OMAN: OQ INK $2BN IN DEALS
• EOG Enters Abu Dhabi’s Upstream
• Trump’s GCC Tour Ushers In New Era
• CRUDE OFFICIAL SELLING PRICES ($/B): KUWAIT RAISES KEY EXPORT BLEND FOR JUNE IN LINE WITH SAUDI

Selected Data

• Benchmark Crude Prices ($/B)
• Egypt Key Indicators: Foreign Exchange Reserves Rise Again To Record $48.1bn At End April As Inflation Creeps Back Up To 13.9% With Local Currency Continuing To Drop Versus The Dollar