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Kuwait Financial Centre “Markaz” Daily Oil &Gas Bulletin – 28 May 2012

Oman Invites Bids for Major Oil Project– Petroleum Development Oman (PDO) has invited tenders for a major project that involves construction of four parallel compression trains with a total capacity of 30 million standard cu m of gas per day at Saih Rawl area, said a report. UAE Major Pipeline Opens in June– A pipeline being built by the UAE to pump most of its oil exports from east coast terminals bypassing the Iran-threatened Strait of Hormuz, will be operational in June. Construction of the 360km pipeline began in 2008. It will have an initial capacity of 1.5 million barrels per day (bpd) rising to 1.8m bpd, which represents the bulk of the UAE's current production of around 2.5m bpd, he said. The Habshan-Fujairah pipeline will carry oil from fields in Abu Dhabi on the Gulf to Fujairah on the Gulf of Oman. Egypt's EGAS To Launch Tender For Gas Exploration In Mediterranean – Egypt’s Natural Gas Holding Company plans to soon launch a tender for natural gas exploration in the Mediterranean Sea according to Abdullah Ghorab, the country's minister of petroleum and mineral resources. Ghorab also said that the Egyptian General Petroleum Corporation will complete the evaluation of bids submitted by 24 international companies in a tender that closed at the end of March. He said that this deal involves oil exploration works in new areas in Egypt's Western desert.

Ticker

Name

ALQURAIN

Oil & Gas Prices Currency

Price

Change

P/E

Qurain Petrochemicals

KWD

214

0.94%

7.15

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

320 285 202 610 94.75 177

0.00% 0.00% -4.72% 0.00% 1.07% 0.43%

N/A 26.06 29.23 33.63 9.87 10.89

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

21.3 46.9 139.2 15.81 0.4 1.19

0.47% 0.43% 0.87% 0.25% 0.00% -0.83%

N/A 8.30 9.89 10.67 4.05 6.41

SOM

Shell Oman Marketing Co.

OMR

2.4

0.00%

20.09

Global Energy & Currency Market Watch

Price

1 Day ∆

YTD

Brent

108.75

0.06%

0.07%

WTI

90.41

0.90%

-8.27%

Kuwait Export

104.26

0.09%

-1.92%

Saudi Heavy

102.81

0.09%

-2.27%

Dubai Light

103.62

1.82%

-1.16%

OPEC Basket

104.16

-1.88%

-3.14%

Henry Hub Spot Nat Gas

2.67

2.69%

-13.76%

Regional Equity Markets Snapshot

Last Close

Change

YTD Change

MSCI World Index

1191.46

0.00%

1.93%

Last Close

Change

Kuwait SE

6,216

-0.97%

MSCI World Energy Index

221.27

0.00%

9.54%

-6.81%

Saudi SE

7,048

0.49%

11.86%

S&P 500 Energy Index

490.477

-0.06%

-5.23%

Oil Service Sector Index

207.83

Qatar SE

8,509

0.22%

1.06%

-0.84%

-3.22%

Abu Dhabi SE

YTD Change

2,457

-0.15%

5.93%

1,477

-0.22%

13.21%

USD/KWD

0.28012

0.05%

-0.42%

Dubai SE

Euro/USD

1.2517

-0.48%

-6.48%

Muscat SE

5,698

0.28%

3.37%

USD Index ($ vs. Weighted Currencies)

82.402

0.45%

4.27%

Bahrain SE

1,143

-0.03%

4.16%

*All prices as of last traded day

NYMEX WTI Crude Oil Futures Forward Curve

NYMEX Henry Hub Futures Forward Curve 7

110 105

100

USD/mmbtu

Aramco, Sumitomo Make Giant Strides on Rabigh II Development – Aramco, with its partner Sumitomo Chemical, have made significant progress on the feasibility of the Rabigh Phase II Project and will proceed to implement the expansion of a world-class petrochemical complex on the Kingdom's west coast. Rabigh II will complement Saudi Aramco's existing petrochemical investment portfolio especially in light of the Rabigh I petroleum refining and petrochemical production complex.

Select MENA Oil & Gas Stock Prices

USD/bbl

Regional Oil & Gas Highlights Aramco 2011 Crude Output Tops 9m bpd – Saudi Aramco's crude oil output in 2011 rose to 9.1 million barrels per day (bpd) from 7.9 million a year earlier, the state oil firm said in an annual review released on Monday. Exports by Saudi Aramco, the oil company of the world's largest oil exporter, jumped to 2.42 billion barrels in 2011 from 2.02 billion in 2010, it said, rising to 6.63 million bpd from 5.5 million.

95 90 85

6

5 4 3

80 75

2 27/04/2012

Months

25/05/2012

27/04/2012

Months

25/05/2012

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

OG28052012  

OG28052012

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