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Kuwait Financial Centre “Markaz” Daily Oil & Gas Bulletin – 18 January 2012 Regional Oil & Gas Highlights Dana hires Deutsche to explore sukuk options - Dana Gas has hired Deutsche Bank as its financial advisor to explore options for meeting its $1 billion convertible sukuk maturity in October. The UAE energy firm had earlier announced it had mandated an international firm to help it address the debt obligation. Market uncertainty over the fate of the maturity has battered both the company's share price and the Islamic bond, although both recovered some ground lost in recent days after Tuesday's statement.

Select MENA Oil & Gas Stock Prices Ticker

Name

ALQURAIN

Oil & Gas Prices Currency

Price

Change

P/E

Qurain Petrochemicals

KWD

218.0

0.00%

11.86

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

295.0 300.0 212.0 550.0 92.0 175.5

0.00% 0.00% 0.00% 0.00% -2.13% 0.29%

9.51 27.58 21.94 10.78 9.45 10.68

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

23.3 42.5 129.8 17.2 0.3 1.2

1.30% -0.47% -0.15% -0.29% 0.00% 0.00%

299.56 7.53 9.19 12.12 4.94 4.88

2.3

0.00%

17.41

Sabic profit drops 10pc to $1.4bn - Sabic reported a 10-percent drop in quarterly profits on Tuesday, missing forecasts, as the petrochemical giant felt the impact of lower prices globally. Sabic made a net profit of 5.24 billion riyals ($1.40 billion) for the three months to end December, compared with 5.81 billion riyals in the same period a year earlier. Analysts surveyed by Reuters expected Shell Oman Marketing Co. OMR the firm to post, on average, a net profit of 7.1 billion riyals for the SOM second quarter. Global Energy & Currency Market Watch

YTD

Brent

111.51

0.14%

2.60%

WTI

98.7

0.00%

1.90%

Kuwait Export

113.01

1.14%

6.58%

Saudi Heavy

111.96

1.15%

6.69%

Dubai Light

109.88

-0.10%

5.48%

OPEC Basket

111.75

-1.04%

4.56%

Henry Hub Spot Nat Gas

2.66

0.00%

-15.77%

Regional Equity Markets Snapshot Change

YTD Change

Last Close

Change

YTD Change

MSCI World Index

1202.48

0.00%

2.51%

Kuwait SE

5789.40

0.46%

-0.37%

MSCI World Energy Index

240.09

0.00%

0.97%

Saudi SE

6370.16

-1.88%

-0.73%

S&P 500 Energy Index

522.47

-0.36%

1.06%

Qatar SE

8600.28

-0.46%

-2.04%

Oil Service Sector Index

223.19

-0.95%

3.91%

Abu Dhabi SE

2293.09

0.00%

-4.55%

-0.60%

Dubai SE

1310.40

0.70%

-3.18%

5602.38

-0.56%

-1.63%

1138.40

-0.33%

-0.46%

USD/KWD

0.2796

0.13%

Euro/USD

1.2736

-0.22%

-4.84%

Muscat SE

USD Index ($ vs Weighted Currencies)

81.114

0.20%

2.64%

Bahrain SE

*All prices as of last traded day NYMEX Henry Hub Futures Forward Curve

NYMEX WTI Crude Oil Futures Forward Curve 105

8.5

100

7.5

USD/mmbtu

Abu Dhabi pushes back green energy goal to 2030 - Abu Dhabi plans to generate 7 percent of its domestic power from renewable sources by 2030, a decade later than it originally expected, according to the head of Masdar, the emirate’s alternative energy company. Chief executive officer Sultan Al Jaber identified the target as 2030, speaking to reporters at the World Future Energy Summit in Abu Dhabi. At the same conference three years ago, Al Jaber specified 2020 as the date for reaching this goal. He didn’t provide an explanation for the 10-year change in timing.

1 Day ∆

Last Close

USD/bbl

China and UAE sign energy cooperation agreement - China's Sinopec clinched a "strategic" energy cooperation agreement with the UAE's state-run Abu Dhabi National Oil Company (ADNOC). The UAE-Chinese agreement will promote cooperation between the two nations on the production and storage of oil, and on issues pertaining to training and research. The UAE and China also signed a memorandum of understanding on energy cooperation which focuses on new and renewable energy sources and paves the way for joint projects and research in the development of clean energy technologies.

Price

95 90

85

6.5 5.5

4.5

80

3.5

75

2.5 16/12/2011

Months

17/01/2012

16/12/2011

Months

17/01/2012

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

Oil and Gas Bulletin 18012012  

Oil and Gas Bulletin 18012012

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