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Kuwait Financial Centre “Markaz” Daily Oil &Gas Bulletin – 7 February 2012

Siemens wins $1bn Saudi power plant deal - Siemens has won a major order worth more than $1 billion for combined cycle power plant in Saudi Arabia. With an installed capacity of 4 gigawatts (GW) IPP Qurayyah will be one of the world’s largest CCPPs. Commissioning of the total of six blocks is scheduled for 2014. The project consortium is led by the Saudi company ACWA Power with Samsung C&T and Mena fund as further members. Siemens received the order from Samsung C&T which also acts as EPC contractor. Arab oil wealth up 29bn barrels in 2011 - A massive revision of Iraq’s oil wealth boosted the overall Arab recoverable crude deposits by nearly 29 billion barrels at the start of 2011 but the region’s proven gas resources remain almost unchanged. From around 115 billion barrels at the start of 2009, Iraq’s proven oil reserves were upgraded to nearly 143.1 billion barrels at the beginning of 2011. This means Iraq probably controlled the world’s second largest oil wealth at the end of that year after Saudi Arabia.

Select MENA Oil & Gas Stock Prices Ticker

Name

ALQURAIN

Oil & Gas Prices Currency

Price

Change

P/E

Qurain Petrochemicals

KWD

214.0

0.00%

12.98

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

295.0 280.0 206.0 550.0 95.3 181.5

0.00% -1.75% 0.00% 0.00% -0.26% -0.27%

N/A 25.75 21.32 10.78 9.78 11.04

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

22.5 45.7 134.8 17.1 0.4 1.3

-0.66% -0.87% -0.22% -0.47% -2.33% -1.56%

298.46 8.10 9.53 12.04 5.47 5.21

SOM

Shell Oman Marketing Co.

OMR

2.3

0.00%

18.25

Global Energy & Currency Market Watch

1 Day ∆

YTD

Brent

117

1.54%

7.66%

WTI

97.84

1.54%

-1.94%

Kuwait Export

115.5

1.91%

8.65%

Saudi Heavy

114.15

1.58%

8.51%

Dubai Light

112.31

1.98%

7.13%

OPEC Basket

110.62

-0.53%

3.73%

Henry Hub Spot Nat Gas

2.41

4.78%

-16.78%

Regional Equity Markets Snapshot Change

YTD Change

Last Close

Change

YTD Change

MSCI World Index

1273.74

0.00%

7.82%

Kuwait SE

5843.30

0.05%

0.60%

MSCI World Energy Index

251.67

0.00%

5.38%

Saudi SE

6738.91

0.08%

5.02%

S&P 500 Energy Index

543.29

1.83%

5.50%

Qatar SE

8678.67

-0.55%

-0.38%

Oil Service Sector Index

248.25

1.75%

15.96%

Abu Dhabi SE

2475.27

0.00%

3.08%

-1.39%

Dubai SE

1470.82

-0.37%

9.02%

-1.91%

Muscat SE

5576.34

0.15%

-2.08%

0.06%

Bahrain SE

1135.84

0.00%

-0.69%

USD/KWD

0.2774

Euro/USD

1.3128

-0.23% 0.15%

USD/bbl

Oil-Tanker Hire Rates Slide for Ninth Session as Demand USD Index ($ vs. Weighted Currencies) 79.078 -0.11% Dwindles - Rates to charter the largest oil tankers fell for a ninth *All prices as of last traded day session, extending a second weekly drop, as demand for cargoes NYMEX WTI Crude Oil Futures Forward Curve dwindled. Daily hire costs for very large crude carriers on the 105 benchmark Saudi Arabia-to-Japan voyage declined 0.3 percent to 100 48.88 industry-standard Worldscale points, according to the Baltic Exchange in London today. Charter rates have slid 25 percent during 95 the longest losing streak since August. 90 Oil price to stay below $115 barring surprises: Kuwait - Oil prices are expected to stay between $100 and $115 a barrel until mid-year, barring "surprises and geopolitical changes," as per Kuwait's Oil Minister Mohammad al-Basseri. He also said all indications show that the oil market is balanced and that prices are suitable for consumers and producers, adding that "Kuwait production remained unchanged" at around 3.0 million barrels per day.

Price

Last Close

85

NYMEX Henry Hub Futures Forward Curve 8 7

USD/mmbtu

Regional Oil & Gas Highlights Global oil demand forecasts could be cut - The International Energy Agency may reduce its world oil demand forecast for 2012 this week due to a weaker outlook for the world economy, even though some evidence points to stronger consumption in the latter part of the year. All three of the most closely watched monthly oil forecasts - from the US government's Energy Information Administration, the IEA and producer group the Organization of the Petroleum Exporting Countries - are due for release this week.

6 5

4

80

3

75

2 06/01/2012

Months

06/02/2012

06/01/2012

Months

06/02/2012

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

OG 07022012  

OG 07022012

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