Issue 26

Oil News

• Eni Gas Increment To Offset Steep Egypt Output Decline

Corporate

• Ratio Targets Historic Egyptian Upstream Entry With Pharos Deal
• Abu Dhabi Makes Splash With Bab Gas Cap Concession Award

OPEC

• Saudi Arabia’s Oil Burn Spikes On Hormuz Closure
• Hormuz Transit Picks Up

Geopolitical Risk

• Iraq’s Oil Recovery Stumbles On Tanker Shortage
• Iran Exports Rebound Despite US Waiver Uncertainty
• Rubio Tours Gulf As Questions Swirl Over Iran Deal

Refining & Petrochemicals

• Explosion At Barzan Gas Plant Rocks Qatar’s Ras Laffan Industrial Hub
• Egypt Tenders For Floating LNG Storage To Ease Import Bottlenecks

Power & Water

• Tunisia-Italy Power Link Advances As Hitachi Nets $873mn Deal
• Israel Investing $12bn On Electricity Grid Expansion

Economics & Finance

• IMF Sees Fiscal Surpluses For Oman Through To 2027

News In Brief

• Saudi Set For Ras Tanura Crude Export Restart
• Chevron Delegation Visits Damascus
• Iraq Denies Opec Exit Reports
• Libya’s Crude Output Nears 1.5mn b/d Target
• Scatec To Build Third Solar Plant In Tunisia After Financial Close
• Oman Awards Block 80
• EGYPT GAS USE HITS SEASONAL HIGH IN APRIL

Selected Data

• Crude Official Selling Prices ($/B): Gulf Suppliers Release July Prices
• Benchmark Crude Prices ($/B)
• China Middle East May Crude Imports Drop To 16-Year Low