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Kuwait Financial Centre “Markaz” Daily Oil &Gas Bulletin – 13 June 2012

Petrokemya Ties Up With Spanish Energy Firm for SR 2.1 bn Plant – Arabian Petrochemical Co. ( Petrokemya ), an affiliate of the Saudi Basic Industries Corp. (SABIC), has signed a letter of intent with Tecnicas Reunidas, a Spanish company, to design, supply and construct an acrylonitrile butadiene stirene (ABS) plant at the company's massive complex in Jubail Industrial City. The plant is expected to start operations in the last quarter of 2014 and will have a production capacity that can reach up to 140,000 tons per year. The product line, including electrical appliances, is designed to support the automotive industry. The project for the ABS plant is estimated to cost SR 2.1 billion. US Could Out Produce Russia, Saudi Arabia in Oil and Gas– The United States is seeing a dramatic surge in oil and gas production and could overtake the world's biggest producers, Russia and Saudi Arabia, in another decade, according to an US official. According to Daniel Sullivan, commissioner in Alaska's department of natural resources, he said that some of the numbers are eye-popping. In the last quarter the US produced six million barrels of conventional and unconventional oil a day, first time in 15 years.

Ticker

Name

ALQURAIN

Oil & Gas Prices Currency

Price

Change

P/E

Qurain Petrochemicals

KWD

194

-2.02%

6.48

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

320 290 182 600 89.5 174.75

0.00% -3.33% 0.00% -1.64% -2.72% 0.14%

N/A 25.32 26.34 33.08 9.32 10.75

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

19.5 44.8 133 15.55 0.39 1.17

-1.27% -1.75% 0.00% -0.19% 2.63% -0.85%

N/A 7.93 9.45 10.50 3.95 6.30

SOM

Shell Oman Marketing Co.

OMR

2.51

0.00%

21.01

Global Energy & Currency Market Watch Change

YTD Change

MSCI World Index

1184.1

0.00%

2.37%

MSCI World Energy Index

217.02

0.00%

-7.45%

479.0681

-1.17%

-5.85%

197.97

-1.86%

-6.26%

S&P 500 Energy Index Oil Service Sector Index

Price

1 Day ∆

YTD

Brent

98.01

0.90%

-9.82%

WTI

82.7

-1.66%

-15.69%

Kuwait Export

94.96

0.61%

-10.67%

Saudi Heavy

93.76

0.62%

-10.87%

Dubai Light

95.67

-3.13%

-8.75%

OPEC Basket

95.87

-1.87%

-8.89%

Henry Hub Spot Nat Gas

2.23

0.00%

-26.85%

Regional Equity Markets Snapshot

Last Close

Last Close

Change

YTD Change

Kuwait SE

5,946

-1.18%

4.87%

Saudi SE

6,728

-0.32%

6.83%

Qatar SE

8,278

-0.04%

-1.68%

Abu Dhabi SE

2,454

0.26%

5.80%

1,475

0.45%

13.02%

USD/KWD

0.28041

0.00%

-0.32%

Dubai SE

Euro/USD

1.2503

-0.09%

-6.58%

Muscat SE

5,712

-0.03%

3.65%

USD Index ($ vs. Weighted Currencies)

82.423

0.05%

4.30%

Bahrain SE

1,135

0.00%

3.38%

*All prices as of last traded day

NYMEX WTI Crude Oil Futures Forward Curve

NYMEX Henry Hub Futures Forward Curve

100

7

95

6

USD/mmbtu

Saudi Trims Oil Supply as Opec Sees Softer Outlook – Opec said the global oil supply and demand balance could ease further in the second half of the year due in part to a slowing global economy, and top producer Saudi Arabia was already trimming its output. The second half of the year could see a further easing in fundamentals, despite seasonally higher demand. Opec cited factors including a slowing world economy, downside risks to demand such as from higher US gasoline prices and supply performing well in non-member countries, supported by growth in the United States.

Select MENA Oil & Gas Stock Prices

USD/bbl

ilRegional Oil & Gas Highlights Boubyan Petrochemical Co. Realizes KD 24.7 mln in Profit– Boubyan Petrochemical Company ( BPC ) announced realizing profit of KD 24.7 million for the year ending April 30, 2012, which compares to a sum of KD 22.8 for the previous fiscal year. Share dividend reached 51.1 fils, compared to last year's 47.2 fils. In its statement on the Kuwait Stock Exchange website, BPC said the board recommended cash dividend at 40 percent for the said year, for shareholders registered at the time of the General Assembly.

90 85

5 4

80

3

75

2 11/05/2012

Months

12/06/2012

11/05/2012

Months

12/06/2012

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


OG13062012