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Kuwait Financial Centre “Markaz” Daily Oil &Gas Bulletin – 12 February 2012 Regional Oil & Gas Highlights Kuwait Energy makes a new well discovery in the Western Desert in Egypt - Kuwait Energy plc announced that it has made an oil well discovery in the Western Desert in Egypt. The new well is named Al Jahraa-1X and is located in the Abu Sennan exploration concession where Kuwait Energy is the operator and holds a 50% working interest. The Al Jahraa-1X well was drilled at 12,210 feet depth and showed commercial flow rates of 835 barrel of oil equivalent per day (boepd) in the initial testing for production. This is Kuwait Energy's fifteenth discovery in Egypt and its third oil discovery in the Abu Sennan concession.

Select MENA Oil & Gas Stock Prices Ticker

Name

ALQURAIN

Price

Change

P/E

Qurain Petrochemicals

KWD

212

0.00%

12.85

IPG OULAFUEL ABAR BPCC SABIC SAFCO

Independent Petroleum Group Oula Fuel Co. Burgan Co. for Well Drilling Boubyan Petrochemicals Co. Saudi Basic Industries Corp. Saudi Arabian Fertilizer Co.

KWD KWD KWD KWD SAR SAR

295 270 198 560 95.75 180

0.00% 0.00% 0.00% 0.00% 0.00% -1.23%

N/A 24.83 20.49 10.97 9.83 10.95

PETROR YANSAB IQCD QGTS DANA TAQA

Rabigh Refining & Petrochemical Co. YANBU National Petrochemical Industries Qatar Qatar Gas Transport Co. Dana Gas Abu Dhabi National Energy Co.

SAR SAR QAR QAR AED AED

22.55 45.8 134.1 17.02 0.42 1.27

-0.22% -0.43% -0.74% -0.12% 0.00% 0.00%

299.79 8.12 9.50 11.97 5.47 5.25

Shell Oman Marketing Co.

OMR

2.3

0.00%

18.25

Sabic, Sinopec in talks over $5bn methanol plant - Sabic and China Petroleum & Chemical Corp (Sinopec) have started negotiations with Trinidad and Tobago to build a $5.3 billion methanol complex there. Sabic and its Chinese partner obtained the approval of Trinidad and Tobago on Feb. 9 after bidding against SOM other international companies. Oman's UES buys Malaysian firms' assets -Oman-based United Engineering Services (UES) has acquired assets of two Malaysian companies - Professional Power Craft and Wise Marine. UES, which began operations in 1979, is today a multi-disciplinary engineering sales and oilfield services company covering the oil, gas and water industries in Oman and the Gulf region. This strategic acquisition provides UES an entry into the advanced composites industry.

Oil & Gas Prices Currency

Global Energy & Currency Market Watch

1 Day ∆

YTD

Brent

119.9

1.07%

9.29%

WTI

99.84

1.14%

-0.16%

Kuwait Export

116.87

0.76%

8.79%

Saudi Heavy

115.92

0.76%

9.02%

Dubai Light

114.81

1.05%

9.49%

OPEC Basket

115.18

0.44%

8.83%

Henry Hub Spot Nat Gas

2.50

0.56%

-15.90%

Regional Equity Markets Snapshot

Last Close

Change

YTD Change

Last Close

Change

YTD Change

1,284.24

0.23%

7.53%

Kuwait SE

5864

0.23%

0.91%

MSCI World Energy Index

254.60

0.31%

4.84%

Saudi SE

6804.03

0.90%

6.03%

S&P 500 Energy Index

548.72

-0.05%

4.46%

Qatar SE

8689.83

0.00%

N/A

Oil Service Sector Index

249.63

-0.12%

14.79%

Abu Dhabi SE

2466.74

0.00%

2.68%

-1.44%

Dubai SE

1486.9

0.30%

9.86%

-0.73%

Muscat SE

5622.18

-0.02%

-1.28%

-0.52%

Bahrain SE

1136.87

0.07%

-0.60%

MSCI World Index

USD/KWD

0.27726

-0.02%

NYMEX Henry Hub Futures Forward Curve 8 7

USD/mmbtu

USD/bbl

Iraq targets 200,000 bpd oil export jump - Iraq aims to boost Euro/USD 1.3286 0.67% oil exports by 200,000 barrels per day next month after it opens up a USD Index ($ vs. Weighted Currencies) 78.617 -0.49% new Gulf outlet, freeing Baghdad to export all the extra barrels *All prices as of last traded day foreign oil companies are extracting from its giant fields. If all goes NYMEX WTI Crude Oil Futures Forward Curve to plan, exports from Iraq's southern oilfields will rise to 1.9 million 105 bpd by March - pushing overall oil sales to 2.3 million bpd - a 100 postwar record. Qatar inks major Korea LNG supply contract - Qatar's Rasgas has agreed to sell South Korea's state-run Korea Gas Corp (Kogas) an additional 2 million tonnes a year of LNG for the next 20 years. Kogas, one of the world's biggest LNG buyers, already has contracts with Rasgas to receive a total of around 7 million tonnes a year until 2024-2026.

Price

95 90

85

6 5

4

80

3

75

2 13/01/2012

Months

10/02/2012

13/01/2012

Months

10/02/2012

This report has been prepared and issued by Kuwait Financial Centre S.A.K (Markaz), which is regulated by the Capital Markets Authority and the Central Bank of Kuwait. The report is owned by Markaz and is privileged and proprietary and is subject to copyrights. Sale of any copies of this report is strictly prohibited. This report cannot bequoted without the prior written consent of Markaz. Any user after obtaining Markaz permission to use this report must clearly mention the source as “Markaz“.This Report is intended to be circulated for general information only and should not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy in any jurisdiction. The information and statistical data herein have been obtained from sources we believe to be reliable but in no way are warranted by us as to its accuracy or completeness. Markaz has no obligation to update, modify or amend this report. For further information, please contact‘Markaz’ at P.O. Box 23444, Safat 13095, Kuwait. Tel: 00965 1804800 Fax: 00965 22450647. Email: oilandgas@markaz.com Sources: Bloomberg, Reuters, Zawya, TradeArabia, ArabianBusiness, and others

Daily Oil and Gas Bulletin 12022012  

Daily Oil and Gas Bulletin 12022012

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