Issue 11

Oil & Gas

• Aramco Targets 5mn b/d Crude Exports From Yanbu
• Oman Set For Hormuz Windfall If Stability Holds

Corporate

• Aphrodite Resources Revised Up Amid Egypt Export Push
• Fujairah Port Stays Open Despite Taking Blows

Geopolitical Risk

• Historic IEA Release Can’t Compensate For Historic Supply Outages
• Iraq Militia Attacks Threaten US Majors’ Entry Plans
• Political Fractures Hamper Iraq’s Northern Export Plans
• Iran Takes Aim At Stranded Tankers
• Iran: Fuel Supply Not Impacted By Israeli Attack
• Iran Remains Resilient As War Set to Enter Third Week
• US Targets UAE Firm For Iran Oil Trade

Refining & Petrochemicals

• Aramco Pushes Back 2030 Liquids-To-Chemicals Target
• Hormuz Closure Traps Up To A Third Of Global Fertilizer Exports In The Gulf
• Saudi Red Sea Diesel Supplies Provide Market Relief
• Duqm Refinery Feedstock Imperiled By Hormuz Closure

Power & Water

• Tunisia’s Renewables Ambitions Progress, With 50MW Plant Commissioned
• Morocco Launches Delayed 305MW Noor Atlas Solar PV Project

Economics & Finance

• Israel Considers Gas Exchange To Encourage Competition

News In Brief

• Aramco Announces Share Buyback Plan
• Progress At Key Saudi Gas Power Plant Projects
• BP CONFIRMS EGYPT OFFSHORE AWARDS
• TotalEnergies Highlights Middle East Production Shut-Ins
• EGYPT ANNOUNCES SIRIUS OFFSHORE DRILLING SUCCESS

Selected Data

• Crude Official Selling Prices ($/B): Somo, Kpc Follow Aramco Lead, Hike April Prices
• Saudi LPG Official Contract Prices ($/T)
• Benchmark Crude Prices ($/B)
• SAUDI ARABIA’S FOREIGN RESERVES: SAMA NET FOREIGN ASSETS ARE AT THEIR HIGHEST LEVEL SINCE NOVEMBER 2022 ($BN)