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Kuwait Financial Centre “Markaz” Daily Oil &Gas Bulletin – 21 March 2012 Regional Oil & Gas Highlights Kuwaiti Amir: Iran Assures Won't Close Hormuz Strait– Kuwait's ruler said that Iran has assured officials in the Gulf state that it won't close the strategic strait of Hormuz, through which Persian Gulf producers export around one-fifth of the world's oil supplies. He added that the Strait of Hormuz is considered a vital artery for the world as approximately half of the oil supply passes through it, and the Gulf Cooperation Council's countries, including Kuwait, have contacted the officials in Iran to ensure that no action is taken to close it.

Select MENA Oil & Gas Stock Prices Ticker

Name

ALQURAIN

Oil & Gas Prices Currency

Price

Change

P/E

Qurain Petrochemicals

KWD

216

0.00%

13.10

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

305 280 255 610 104.75 183

0.00% 0.00% 0.00% 0.00% -1.18% -0.54%

N/A 23.03 34.73 33.46 10.76 11.13

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

25.5 49.7 135 17.85 0.48 1.34

-1.54% -2.07% 0.00% 0.00% 0.00% 0.00%

339.01 8.81 9.36 12.00 5.79 10.93

2.35

0.00%

18.65

Oil Prices Drop on Saudi Assurances- Oil prices fell on Tuesday after Saudi Arabia, the world's biggest crude exporter, repeated its pledge to make up for lost Iranian output, easing supply concerns according to analysts. Crude oil prices have been under pressure amid reports that Saudi Arabia has resumed the mantle of swing producer and would seek to restore fair prices by making up the Shell Oman Marketing Co. OMR Iranian short-fall, according to Sucden Financial Research analyst SOM Jack Pollard. Global Energy & Currency Market Watch

YTD

Brent

125.6

-0.63%

15.57%

WTI

108.09

0.96%

6.86%

Kuwait Export

123.05

-1.23%

15.76%

Saudi Heavy

122.15

-1.24%

16.11%

Dubai Light

122.9

-0.58%

17.23%

OPEC Basket

122.92

-0.09%

16.14%

Henry Hub Spot Nat Gas

2.14

5.42%

-26.51%

Regional Equity Markets Snapshot Change

YTD Change

Last Close

Change

MSCI World Index

1325.66

0.00%

11.95%

Kuwait SE

6,233

0.06%

7.63%

MSCI World Energy Index

258.78

0.00%

6.75%

Saudi SE

7,519

-1.27%

18.36%

S&P 500 Energy Index

560.979

0.59%

6.68%

Qatar SE

8,647

-0.43%

1.85%

Oil Service Sector Index

253.67

-0.29%

15.42%

Abu Dhabi SE

YTD Change

2,590

0.13%

8.48%

1,648

0.30%

22.13%

USD/KWD

0.2786

0.04%

-0.96%

Dubai SE

Euro/USD

1.3225

-0.34%

-1.19%

Muscat SE

5,926

0.07%

4.97%

USD Index ($ vs. Weighted Currencies)

79.593

0.23%

0.71%

Bahrain SE

1,147

0.00%

3.06%

*All prices as of last traded day

NYMEX WTI Crude Oil Futures Forward Curve

NYMEX Henry Hub Futures Forward Curve

110

8

105

7

100

USD/mmbtu

IMF Warns of Oil Risk from Iran - IMF chief Christine Lagarde warned that crude oil prices may spike by up to 30 percent if Iranian supplies were disrupted, causing serious consequences for the global economy. The standoff between Iran, the world's second-largest supplier of oil, and the West over the Islamic Republic's nuclear program is seen as a flashpoint that could sharply increase world crude prices.

1 Day ∆

Last Close

USD/bbl

UAE Terminal Bypasses Strait – UAE energy company Mubadala Oil & Gas has confirmed it is to build a terminal in Fujairah to receive liquefied natural gas supplies, bypassing the strategically sensitive Strait of Hormuz. Mubadala Oil & Gas confirm the project feasibility study was completed last year and the project engineering phase has now commenced with the aim of delivering first supplies in the next two to three years," according to a statement released by the company. Meanwhile, Kuwait's emir, Sheikh Sabah Al Ahmed Al Sabah, yesterday said Iran has pledged to its Gulf neighbors that it will not take the step of blocking the strait.

Price

95 90 85

6 5

4

80

3

75

2 21/02/2012

Months

20/03/2012

21/02/2012

Months

20/03/2012

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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