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Kuwait Financial Centre “Markaz” Daily Oil & Gas Bulletin – 29 December 2011 Regional Oil & Gas Highlights Kuwait's Aref to auction 29pc stake in energy unit - Kuwait's Aref Investment Group is selling a 29-percent stake in Aref Energy Holding in an auction. In October, Aref Investment said it would sell its position in Aref Energy -- a 72-percent stake -- to Development Projects at a total value of 73.1 million dinars ($263 million). There were no higher bidders for the stake so the auction with the initial buyer will be completed today. A total of 217.5 million shares will be offered at an initial price of 134 fils each, totaling 29.15 million dinars. Bahrain to bolster India energy links - Bahrain is set to expand co-operation with India in the energy and petroleum sector, and is looking into significantly increasing the export of crude oil and finished products to India. However, it is the Indian manpower expertise in the oil and gas sector that will be extremely beneficial to Bahrain, added Energy Minister Dr Abdulhussain Mirza. He also indicated India wanted to substantially increase its $518 million crude and other oil products' imports from Bahrain. Industries Qatar sells real estate stake - Industries Qatar (IQ) sold its stake in a local real estate firm for $44 million, the Gulf region's second-largest chemical producer by market value announced today, as the property sector faces low demand and growing supply. IQ had held a 34-percent stake in Fereej Real Estate Company, which was set up in 2008 in a joint venture with a Gulf International Services unit and Qatar Real Estate Co (Alaqaria). The latter had 33-percent stakes each. Oman Crude could become a benchmark for oil trade - Oman Crude, an Arabian gulf benchmark for crude oil, which is traded on the Dubai Mercantile Exchange (DME), could become the main benchmark for oil trading in Asian markets, according to H E Mohammed Hamed al Rumhi, Minister of Oil and Gas. DME has been very successful and plays an important role in oil markets now. However, the Singapore commodity exchange remains a big competitor in terms of a major benchmark for oil in Asia.

Select MENA Oil & Gas Stock Prices 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

214.0 345.0 300.0 212.0 550.0

0.94% 0.00% 0.00% 0.00% 0.00%

11.64 11.12 27.58 21.94 10.78

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

97.0 174.0 22.9 44.2 133.0 17.5

0.78% -0.29% -1.30% 0.91% -0.15% -0.11%

9.79 11.27 293.78 8.11 9.42 12.30

DANA TAQA

Dana Gas Abu Dhabi National Energy Co.

AED AED

0.5 1.2

4.55% 0.84%

6.69 4.96

SOM

Shell Oman Marketing Co.

OMR

2.4

-0.29%

18.02

Global Energy & Currency Market Watch Change

YTD Change

MSCI World Index

1183.59

0.00%

-6.17%

MSCI World Energy Index

240.91

0.00%

-0.75%

S&P 500 Energy Index

525.49

0.19%

3.67%

Oil Service Sector Index

219.54

-0.16%

USD/KWD

0.2782

Euro/USD

1.2941 80.510

1 Day ∆

YTD

Brent

109.27

-1.40%

14.41%

WTI

101.34

1.72%

8.73%

Kuwait Export

106.85

-1.97%

23.18%

Saudi Heavy

105.75

-1.99%

23.63%

Dubai Light

107.04

0.57%

20.89%

OPEC Basket

107.77

0.11%

20.82%

Henry Hub Spot Nat Gas

3.07

4.78%

-27.19%

Regional Equity Markets Snapshot

Last Close

USD Index ($ vs Weighted Currencies)

Price

Last Close

Change

YTD Change

Kuwait SE

5777.50

-0.16%

-14.38%

Saudi SE

6418.13

0.06%

0.09%

Qatar SE

8759.17

-0.60%

5.36%

-11.38%

Abu Dhabi SE

2392.98

1.12%

-8.68%

-0.19%

-1.10%

Dubai SE

1346.72

0.02%

-14.35%

0.15%

-3.31%

Muscat SE

5695.12

0.28%

-12.13%

1.88%

Bahrain SE

1139.53

-0.48%

-17.35%

-0.07%

*All prices as of last traded day

Kuwait's crude oil exports to Japan hit 314,000 bpd - Kuwait's crude oil exports to Japan rose 10.2 percent in November from a year earlier to 9.43 million barrels, or 314,000 barrels per day (bpd), for the first gain in two months. Kuwait, the fourth-biggest oil provider to Japan last month, supplied 8.8 percent of Japan's total crude imports, compared with 7.0 percent in the same month of last year and 6.2 percent in October. The value of Japan-bound shipments steadily account for 20 percent of Kuwait's total oil revenue. 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 29122011