Kuwait Financial Centre “Markaz” Daily Oil & Gas Bulletin – 17 January 2012 Regional Oil & Gas Highlights OPEC Keeps Oil Demand Forecast Steady, Warns on European Economic Crisis - The Organization of Petroleum Exporting Countries kept its forecast for 2012 oil demand unchanged, while warning that Europe‟s debt crisis could harm global consumption. Oil use will increase by 1.1 million barrels a day, or 1.2 percent, to 88.9 million a day this year as per OPEC estimates. If Europe‟s turmoil “were to worsen, the effect on the oil market could be seen not only through a further decline in oil demand in Europe, but also with spillover effects on oil demand in the emerging economies,” OPEC said.
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Oil & Gas Prices Currency
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
295.0 295.0 212.0 540.0 94.0 175.0
0.00% 0.00% 0.00% -1.82% -0.53% -0.57%
9.51 27.12 21.94 10.58 9.49 10.64
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
23.0 42.7 130.2 17.3 0.4 1.2
-0.65% -0.70% 0.15% 0.00% 2.94% 0.00%
295.71 7.57 9.22 12.16 5.09 4.88
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Sabic, Sinopec to build new plastics plant – SABIC and the OPEC Basket 112.93 0.03% 4.60% China Petroleum and Chemical Corporation (Sinopec) signed a protocol of cooperation in Riyadh, which includes joint investment to Henry Hub build a new polycarbonate plant. The polycarbonate production 2.67 -4.98% -10.74% Spot Nat Gas Shell Oman Marketing Co. OMR 2.3 -1.96% 17.33 complex with an annual capacity of 260 kilo metric tonnes will be SOM located at the Sinopec Sabic Tianjin Petrochemical Company (SSTPC) Regional Equity Markets Snapshot in Tianjin, China. Sabic will become one of the largest producers of Global Energy & Currency Market Watch Last Close Change YTD Change Last Close Change YTD Change polycarbonate when the plant commences operations in 2015. China's CNPC invests $50 million in Iran oilfield - China National Petroleum Corporation (CNPC) has left Iran's Koohdasht oil block exploration project due to being economically unjustified despite investing up to $50 million since four years ago. The Chinese company carried out exploration operations over 600 square kilometers area, which led to finding an oilfield in the oil block. Meanwhile, National Iranian Oil Company (NIOC) director for exploration affairs said that developing the oilfield is economically justified for the NIOC.
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Apicorp profit jumps 86% - The Arab Petroleum Investments Corporation, a multilateral bank owned by the ten member states of the Organisation of Arab Petroleum Exporting Countries (OAPEC), profits increased 86 per cent to $57.5 million in the fourth quarter of last year. Total assets rose 7.4 per cent year-on year to above $4.63 billion at the end of December 2011. Total equity at the end of 2011 climbed over 6.6 per cent, compared to 2010, to $1.2 billion.
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