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Kuwait Financial Centre “Markaz” Daily Oil & Gas Bulletin – 27 December 2011

Qatari economy to lose steam in 2012 - Qatar appears to be heading for an end of its economic euphoria as growth in its GDP is projected to dip to only around six per cent in 2012 from an expected 19 per cent in 2011 and similar high rates in previous years. IMF figures showed the Gulf country's real GDP, which has recorded one of the world's highest growth rates over the past decade, leaped by nearly 17 per cent in 2010 and is forecast to pick up by about 19 per cent in 2011. GCC ministers approve strategy on oil cooperation - The ministers of oil and energy of the GCC member states agreed to boost cooperation in the hydrocarbon sector and the alternative energies at the 30th ordinary meeting of GCC ministerial committee on oil cooperation. It approved the report of the GCC Secretariat on the resolutions of the 14th session of the GCC Supreme Council relating to the development of alternative energies and renaming such energies as "complementary energies." They agreed to follow up on the implementation of the United Nations Framework Convention on Climate Change and the attached Kyoto Protocol. During the meeting, the State of Kuwait invited the conferees to attend the energy forum, due in March alongside with the delegates of more than 60 countries to address the world energy problems.

Ticker

Name

ALQURAIN IPG OULAFUEL ABAR BPCC

Oil & Gas Prices Currency

Price

Change

P/E

Qurain Petrochemicals Independent Petroleum Group Oula Fuel Co. Burgan Co. for Well Drilling Boubyan Petrochemicals Co.

KWD KWD KWD KWD KWD

220.0 335.0 300.0 212.0 560.0

0.92% 0.00% 0.00% 0.00% 0.00%

11.97 10.80 27.58 21.94 11.08

SABIC SAFCO PETROR YANSAB IQCD QGTS

Saudi Basic Industries Corp. Saudi Arabian Fertilizer Co. Rabigh Refining & Petrochemical Co. YANBU National Petrochemical Industries Qatar Qatar Gas Transport Co.

SAR SAR SAR SAR QAR QAR

96.5 174.5 23.6 44.2 133.3 17.5

0.00% 0.29% 5.59% 0.00% 0.00% 0.06%

9.74 11.30 303.42 8.11 9.44 12.31

DANA TAQA

Dana Gas Abu Dhabi National Energy Co.

AED AED

0.5 1.2

-2.17% -0.83%

6.54 4.96

SOM

Shell Oman Marketing Co.

OMR

2.4

0.00%

18.08

Global Energy & Currency Market Watch Change

YTD Change

MSCI World Index

1182.24

0.00%

-5.00%

MSCI World Energy Index

240.47

0.00%

0.84%

S&P 500 Energy Index

520.29

1.14%

Oil Service Sector Index

218.63

USD/KWD Euro/USD USD Index ($ vs Weighted Currencies)

Price

1 Day ∆

YTD

Brent

110.25

0.00%

15.44%

WTI

99.48

0.97%

9.03%

Kuwait Export

107.64

0.12%

24.43%

Saudi Heavy

106.54

0.12%

24.89%

Dubai Light

106.45

0.97%

19.72%

OPEC Basket

105.05

2.08%

20.22%

Henry Hub Spot Nat Gas

3.08

1.65%

-30.73%

Regional Equity Markets Snapshot

Last Close

Last Close

Change

YTD Change

Kuwait SE

5801.40

-0.02%

-14.02%

Saudi SE

6414.47

0.48%

0.03%

5.45%

Qatar SE

8785.32

-0.35%

5.67%

0.72%

-9.05%

Abu Dhabi SE

2352.37

0.09%

-10.23%

0.2784

0.00%

-1.03%

Dubai SE

1329.69

0.12%

-15.43%

1.3061

-0.11%

-2.41%

Muscat SE

5677.59

0.50%

-12.41%

1.13%

Bahrain SE

1147.91

1.30%

-16.74%

79.921

0.10%

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

NYMEX WTI Crude Oil Futures Forward Curve 105

8

100

7

USD/mmbtu

Iran, Ukraine set to ink $1b oil deal - Ukrainian Inter Naft Gas Prom Pars Company is set to sign a contract, worth around $1 billion, with Iranian Petroleum Engineering and Development Company aiming to develop three heavy crude oilfields in Iran, namely Kooh Mond, Booshgan and Kooh Kaki. Under the comprehensive development plan, these three oilfields are expected to produce 10,000 to 12,000 barrels of oil per day in the first phase, and about 25,000 barrels per day in the second phase. Meanwhile, National Iranian Oil Company's managing director announced like non-associated oilfields, heavy crude oilfields have also been excluded of the list of prioritized oil development plans.

Select MENA Oil & Gas Stock Prices

USD/bbl

Regional Oil & Gas Highlights Oil Trades Near Highest in Two Weeks on U.S. Economy Speculation - Oil traded near the highest settlement in two weeks amid speculation the U.S. economy will continue to recover, bolstering demand for raw materials in the world’s biggest crude consumer. Futures were little changed after gaining 6.6 percent last week, the most since the five days ending Oct. 28. Reports today may show U.S. consumer confidence improved to a five-month high and home prices in 20 cities declined at a slower pace.

95 90

85

6 5

80

4

75

3 25/11/2011

Months

23/12/2011

25/11/2011

Months

23/12/2011

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 be quoted 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

Daily Oil and Gas Bulletin 27122011  

Daily Oil and Gas Bulletin 27122011

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