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Kuwait Financial Centre “Markaz” Daily Oil & Gas Bulletin – 6 December 2011

Paris and London to press EU for Iran oil ban - France and the UK will use a gathering of European Union leaders this week to push forward their plan to approve a full embargo on oil imports from Iran. The meeting will be dominated by efforts to shore up the single currency. But diplomats in Brussels say France is also pushing to use the occasion to advance its case for strong measures against Iran over its nuc-lear weapons program. British and French diplomats say Greece, which receives between 25 and 30 per cent of its oil from Iran, is the only state raising serious objections to a ban on Iranian oil imports but those objections should be overcome by the January meeting. Qatar inks Centrica deal for joint energy projects - The investment arm of Qatar Petroleum announced it has signed an agreement to explore new joint projects in the energy sector with the UK's Centrica. The memorandum of understanding will see Qatar Petroleum International and Centrica, the parent company of British Gas, cooperate in energy-related investments around the world. Investment targets will include new or existing projects in upstream oil and gas including liquefied natural gas (LNG), gas storage as well as combined-cycle gas turbine (CCGT) generation assets and downstream opportunities.

Ticker

Name

ALQURAIN IPG OULAFUEL ABAR SABIC

Oil & Gas Prices Currency

Price

Change

P/E

Qurain Petrochemicals Independent Petroleum Group Oula Fuel Co. Burgan Co. for Well Drilling Saudi Basic Industries Corp.

KWD KWD KWD KWD SAR

218.0 315.0 300.0 224.0 96.3

-0.91% 1.61% 0.00% 0.00% 3.22%

11.97 9.99 27.58 23.18 9.71

SAFCO PETROR IQCD QGTS DANA TAQA

Saudi Arabian Fertilizer Co. Rabigh Refining & Petrochemical Co. Industries Qatar Qatar Gas Transport Co. Dana Gas Abu Dhabi National Energy Co.

SAR SAR QAR QAR AED AED

181.3 22.6 135.6 17.7 0.5 1.2

0.00% 2.03% 0.07% 0.00% 0.00% 0.00%

11.74 290.56 9.60 12.45 7.56 4.96

SOM

Shell Oman Marketing Co.

OMR

2.4

0.00%

17.89

Global Energy & Currency Market Watch

Price

1 Day ∆

YTD

Brent

110.15

-0.99%

15.33%

WTI

100.96

0.76%

10.52%

Kuwait Export

109.59

-0.17%

26.34%

Saudi Heavy

110.09

1.30%

28.70%

Dubai Light

109.14

1.18%

23.27%

OPEC Basket

109.41

-0.88%

23.23%

Henry Hub Spot Nat Gas

3.36

-3.72%

-20.33%

Regional Equity Markets Snapshot

Last Close

Change

YTD Change

Last Close

Change

YTD Change

MSCI World Index

1187.64

0.00%

-3.78%

Kuwait SE

5835.30

-0.05%

-13.48%

MSCI World Energy Index

241.28

0.00%

2.17%

Saudi SE

6228.16

0.95%

-2.90%

S&P 500 Energy Index

522.32

-0.08%

6.20%

Qatar SE

8781.45

0.26%

5.63%

Oil Service Sector Index

230.15

-0.29%

-2.49%

Abu Dhabi SE

2463.69

-0.28%

-6.07%

1392.59

-0.49%

-11.38%

USD/KWD

0.2768

0.00%

-1.60%

Dubai SE

Euro/USD

1.3452

0.52%

0.51%

Muscat SE

5545.19

0.66%

-14.59%

USD Index ($ vs Weighted Currencies)

78.605

-0.08%

-0.54%

Bahrain SE

1156.98

-0.05%

-16.08%

*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

Oil fields on Iraqi-Kuwaiti border await demarcation - There are 10 oil fields that spread across the Iraqi-Kuwaiti frontier that are waiting to have a line drawn through them. Committee member Furat al-Sharei mentioned that oil will be extracted from these fields after finding joint mechanisms between the countries. There are also ten common with Iran that are waiting the demarcation process to begin extraction. The Iraqi government pays 5% of its revenue to compensate its debt to Kuwait that reaches $22 billion USD (23,000 billion IQD).

Select MENA Oil & Gas Stock Prices

USD/bbl

Regional Oil & Gas Highlights OPEC may support oil at $100 - Oil prices rose Friday and posted weekly gains, boosted by heightened geopolitical tensions over Iran and strong gasoline futures, while a stronger dollar and concern about the euro zone debt crisis limited gains. The Saudi American Bank group (samba) said in its latest monthly bulletin that OPEC oil ministers are expected to agree on action to support crude prices at around $100 a barrel when they meet in Vienna on Dec. 14. "As such, the effectively irrelevant quotas agreed back in 2008 will remain in place," it said.

95 90 85

6 5 4

80

3

75

Months

Months 04/11/2011

05/12/2011

04/11/2011

05/12/2011

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 06122011  

Daily Oil and Gas Bulletin 06122011

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