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Kuwait Financial Centre “Markaz” Daily Oil &Gas Bulletin – 1 July 2012

U.S. Exempts China, Singapore from Iran Sanctions – The U.S. on Thursday exempted China and Singapore from sanctions over purchases of oil from Iran, hours before restrictions would have entered into force against their banks. Secretary of State Hillary Clinton said in a statement that China and Singapore had significantly reduced their crude oil purchases from Iran, joining most major economies in receiving exemptions from the new U.S. law. Iran Wants Urgent Opec Meeting as Prices Drop – Iranian Oil Minister Rostam Qasemi has urged Opec's secretary general to call for an extraordinary meeting amid falling oil prices. He added that in 161st meeting of Opec it was agreed if oil prices fall below $100 per barrel it means that prices are in crisis, so we have urged secretary general to make preparations for holding an emergency meeting. Qasemi warned that if Opec members failed to comply with the agreed production ceiling of 30 million bpd this would disrupt balance in the oil market.

Ticker

Name

ALQURAIN

Oil & Gas Prices Currency

Price

Change

P/E

Qurain Petrochemicals

KWD

196

-1.01%

6.55

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

320 295 176 600 92.75 170

0.00% -1.67% 0.00% 1.69% 3.92% 0.00%

N/A 25.76 25.47 11.73 9.66 10.46

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 44 129 15.56 0.38 1.21

0.80% 2.33% 3.20% 0.06% 2.70% 0.00%

N/A 7.79 9.16 10.50 3.85 6.52

SOM

Shell Oman Marketing Co.

OMR

2.58

0.00%

21.59

Global Energy & Currency Market Watch Change

YTD Change

MSCI World Index

1199.93

-0.15%

6.30%

MSCI World Energy Index

219.33

0.47%

-4.00%

488.2491

0.60%

-2.35%

193.89

0.60%

-6.26%

S&P 500 Energy Index Oil Service Sector Index

Price

1 Day ∆

YTD

Brent

91.95

-1.53%

-10.25%

WTI

77.69

-3.14%

-14.03%

Kuwait Export

90.58

-1.88%

-9.04%

Saudi Heavy

89.38

-1.91%

-9.23%

Dubai Light

91.96

0.17%

-11.53%

OPEC Basket

90.91

0.87%

-14.90%

Henry Hub Spot Nat Gas

2.82

-1.74%

-8.05%

Regional Equity Markets Snapshot

Last Close

Last Close

Change

YTD Change

Kuwait SE

5,830

0.71%

2.84%

Saudi SE

6,710

0.20%

6.55%

Qatar SE

8,234

1.37%

-2.21%

Abu Dhabi SE

2,462

0.58%

6.14%

1,463

0.77%

12.21%

USD/KWD

0.28066

0.15%

-0.23%

Dubai SE

Euro/USD

1.2444

-1.76%

-7.02%

Muscat SE

5,683

-0.11%

3.16%

USD Index ($ vs. Weighted Currencies)

82.8070

1.45%

4.78%

Bahrain SE

1,123

-0.32%

2.33%

*All prices as of last traded day

NYMEX WTI Crude Oil Futures Forward Curve

NYMEX Henry Hub Futures Forward Curve 7

91 89

87

USD/mmbtu

Saudi Readies Oil Line Against Hormuz Threat – Saudi Arabia has reopened an old oil pipeline built by Iraq to bypass Gulf shipping lanes, giving Riyadh scope to export more of its crude from Red Sea terminals should Iran try to block the Strait of Hormuz, industry sources say. The Iraqi Pipeline in Saudi Arabia (IPSA), laid across the kingdom in the 1980s after oil tankers were attacked in the Gulf by both sides during the Iran-Iraq war, has not carried Iraqi crude since Saddam Hussein invaded Kuwait in 1990. Saudi Arabia confiscated the pipeline in 2001 to compensate for debts owed by Baghdad and has used it to transport gas to power plants in the west of the country in the last few years.

Select MENA Oil & Gas Stock Prices

USD/bbl

Regional Oil & Gas Highlights Kayan Awards Design Contract for Jubail Plant to Jacobs Group – Saudi Kayan Petrochemical Company, has awarded a design contract to Pasadena, California-based Jacobs Engineering Group. The contract is for the development of a process design package (PDP) and FEED package for the build of an ultra-highmolecular-weight polyethylene (UHMWPE) plant in Jubail. UHMWPE is used in many industrial applications including batteries and industrial fibers. The plant is to have a production capacity of 35,000 tons per year using ethylene sourced from Kayan's existing olefins plant and is of significant strategic importance as Sabic is to use its own technology.

85

83 81 79

6

5 4 3

77 75

2 01/06/2012

Months

29/06/2012

01/06/2012

Months

29/06/2012

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


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