Issue 21

Oil & Gas

• Iraq’s New Oil Minister Backs US Investment
• Oman’s Energy Ministry To Award Exploration Block Within Weeks
• Egypt Oil Output Rebounds, Gas Declines Further

Corporate

• BP Plans Egypt Asset Sale As Output Declines
• Cheiron/Capricorn Secure Egypt Consolidation Approval
• Israeli Gas Exports To Egypt Set For Summer Increase
• Apache’s Big Bet On Egypt Gas

OPEC

• Adnoc Targets Additional Resilience With New Bypass Pipeline

Geopolitical Risk

• Iraq’s Militias In The Spotlight After Latest Attacks
• US Blockade Chokes Iran’s Oil Exports

Refining & Petrochemicals

• Saudi Refinery Output Slumps In First Month Of Conflict

Power & Water

• Drone Strike On Barakah Nuclear Plant Raises Grave Concerns
• Oman Awards First 24/7 Solar Project To New State Renewables Firm
• Algeria Doubles Solar Capacity With Two New Plants

Economics & Finance

• Morocco Unveils $2bn Energy Subsidy Package

News In Brief

• Cyprus Approves Cronos Development Plan
• Exxon, Qatarenergy Sign Egypt Mou For Cyprus Gas
• Enppi Wins $335mn Gas Contract In Oman
• Oman Q1 Deficit Shrinks Ahead Of Oil Windfall
• Ratio Finds New Partner For Israel Exploration Block

Selected Data

• Crude Official Selling Prices ($/B): Gulf Producers Cut From Record Highs
• Benchmark Crude Prices ($/B)
• Saudi Monthly Oil Revenues ($Bn) Surged To Their Highest Level Since October 2022 In The First Month Of The Conflict Despite Export Volumes Collapsing (Mn B/D)