v

1

OIL

AN

D G

AS

RE

PO

RT

ABBREVIATIONSABBREVIATION MEANING/bbl Per barrel/mCuf Per million Cubic feetADB African Development BankAFD Agence Française de DéveloppementAMU Arab Maghreb UnionAPPA African Petroleum Producers’ AssociationAQ al-QaedaAQAP al-Qaeda in the Arabian PeninsulaAQI al-Qaeda in IraqAQIM al-Qaeda in the Islamic MaghrebB Billion (one thousand million)bBbls Billion BarrelsbBbls/yr Billion Barrels per yearbbl BarrelbCm Billion Cubic metresbCm/yr Billion Cubic metres per yearbCuf Billion Cubic feetbCuf/d Billion Cubic feet per daybCuf/yr Billion Cubic feet per yearbpcd Barrels per calendar daybpd Barrels per daybpsd Barrels per stream dayBTC Baku-Tbilisi-Ceyhan PipelineBTU British Thermal UnitsCIA Central Intelligence Agencycm Cubic metrescuf Cubic feetcuf/d Cubic feet per daycuf/yr Cubic feet per yearDWT Dead-Weight TonnesE£ Egyptian Pound (currency)EEZ Exclusive Economic ZoneEIA Energy Information AdministrationEIB European Investment BankEOR Enhanced Oil RecoveryEPA Exploration-and-Production AgreementEU European UnionFDI Foreign Direct InvestmentFPSO Floating Production, Storage, and OffloadingFSA Free Syrian ArmyFTA Agreement of a Free-Trade AreaGAFTA Greater Arab Free-Trade AreaGCC Gulf Co-operation CouncilGDP Gross Domestic ProductGIA Groupe Islamique Arme (Armed Islamic Group)GNP Gross National ProductGOI Government of IraqGSPC Groupe Salafist pour la Prédication et le Combat (Salafist Group for Preaching and Combat)GW Gigawatts (one thousand megawatts)IDF Israeli Defence Force

v

2

OIL

AN

D G

AS

RE

PO

RT

IEA International Energy AgencyIED Improvised Explosive DeviceIGAT Iran Gas TrunklineIMF International Monetary FundIOC International Oil CompanyISI Islamic State of IraqITGI Turkey-Greece-Italy PipelineJaN Jabhat al-NusraJOD Jordanian DinarJOA Joint Operating Agreementk One thousandkBbls Thousand BarrelskBpcd Thousand Barrels per calendar daykBpd Thousand Barrels per daykBpsd Thousand Barrels per stream daykCm Thousand Cubic metreskCm/hr Thousand Cubic metres per hourkCm/yr Thousand Cubic metres per yearkDWT Thousand Dead-Weight Tonneskm Kilometrekm2 Square kilometresKRG Kurdistan Regional GovernmentLNG Liquefied Natural GasLPG Liquefied Petroleum Gasm MillionmBbls Million BarrelsmBpd Million Barrels per dayMBICE Maghreb Bank for Investment and Foreign TrademCm Million Cubic metresmCuf Million Cubic feetmCuf/d Million Cubic feet per dayMEK Mujahedin-e-Khalq (People’s Mujahideen Organisation of Iran)MENA Middle East and North AfricaMIGA Multilateral Investment Guarantee AgencyMNLA Mouvement National pour la Libération de l’Azawad (National Movement for the Liberation of

Azawad)MOU Memorandum Of UnderstandingMSC Mujahideen Shura Council in the Environs of JerusalemMUJWA Movement for Unity and Jihad in West AfricaMW MegawattsNATO North Atlantic Treaty OrganisationNDC National Dialogue Committee (in Jordan)NGL Natural Gas LiquidsNIS New Israeli ShekelNSF National Salvation FrontOECD Organisation for Economic Co-operation and DevelopmentOFAC Office of Foreign Assets Control (part of the US Treasury Department)OPAEC Organisation for Arab Petroleum Exporting CountriesOPEC Organisation for Petroleum Exporting CountriesPA Palestinian AuthorityPD17 Yemeni Presidential Decree No.17 of 2010PKK Kurdistan Workers’ PartyPOLISARIO Popular Front for the Liberation of Saqiat al-Hamra and Rio de OroPPP Purchasing-Power Parity

v

3

OIL

AN

D G

AS

RE

PO

RT

PSA Production-Sharing AgreementsPSC Production-Sharing ContractPZ Partitioned ZoneSAA Syria Accountability ActSCP South Caucasus PipelineSMEs Small and Medium EnterprisesSOE State-Owned EnterpriseSUMED Suez-Mediterranean PipelineSWF Sovereign Wealth Fundt Trillion (one million million)TANAP Trans-Anatolian PipelinetCm Trillion Cubic metrestCuf Trillion Cubic feettCuf/d Trillion Cubic feet per dayTIFA Trade and Investment-Framework AgreementTonne One thousand kilogramstonnes/d Tonnes per daytonnes/yr Tonnes per yearTSC Technical Service ContractUAE United Arab EmiratesUK United Kingdom of Great Britain and Northern IrelandUN United NationsUNCAC United Nations Convention Against CorruptionUNIFIL United Nations Interim Force in LebanonUNSC United Nations Security CouncilUS United States of AmericaUSD United States Dollar ($)WTI West-Texas IntermediateWTO World Trade Organisation

All prices refer to the 2013 US Dollar (USD), unless otherwise stated.

For a list of acronyms for companies and government bodies in the energy sector, see Appendix 2.

v

4

OIL

AN

D G

AS

RE

PO

RT

SAUDI ARABIA

SECTOR OVERVIEWSaudi Arabia’s oil and gas reserves and exports are vast, with an estimated 267bBbls of oil reserves;1 283tCuf of gas reserves;2 and output of around 11.6mBpd of oil,3 and 0.3tCuf/d of gas.4 Saudi Arabia’s petroleum sector accounts for approximately 90% of its export earnings, 45% of its GDP,5 and 75%6 to 80%7 of its budget revenues.8

With one fifth of the world’s proven oil reserves,9 Saudi Arabia plays a dominant role in setting global oil prices, and determining OPEC’s output. The royal family rely on an oil price of at least $100/bbl in order to maintain their power base.10

The state maintains a vice-like grip over the sector, and strong controls over economic activities within the country;13

this limits the ability of IOCs to become involved in the sector.

KEY COMPANIES DOMESTIC → The Ministry of Petroleum and Mineral Resources, and the Supreme Council for Petroleum and Minerals Affairs

(SPMC) have oversight of up- and downstream Saudi Arabian oil through the Saudi Arabian Oil Company (Saudi Aramco).14

INTERNATIONAL→ IOCs give technical knowledge and advice, and have invested in projects and joint ventures. The key larger

firms include:→ Pétrolia (CAN); Sinopec (CHN); BP (GBR); Royal Dutch Shell (GBR/NLD); Arabian Oil Company, Ltd (JPN);

Sumitomo Chemical Co., Ltd (JPN); Kuwait Gulf Oil Company (KGOC) (KWT); Chevron (USA); ConocoPhillips(USA); Dow Chemical Company (USA); ExxonMobil (USA).15

OIL 11 2007 2008 2009 2010 2011 2012

TOTAL OIL SUPPLY (kBpd) 10,248.62 10,783.07 9,758.83 10,521.09 11,153.02 N/A

TOTAL PETROLEUM CONSUMPTION (kBpd) 2,144.45 2,270.00 2,194.54 2,371.38 2,620.00 N/A

CRUDE-OIL-DISTILLATION CAPACITY (kBpcd) 2,095.00 2,080.00 2,080.00 2,080.00 2,080.00 2,112.00

PROVEN RESERVES OF CRUDE OIL (bBbls) 262.30 266.75 266.71 262.40 262.60 267.02

TOTAL OIL SUPPLY (kBpd)2012 ESTIMATE (UPDATED MONTHLY)

JAN FEB MAR APR MAY JUN

11,552.12 11,752.12 11,752.12 11,652.12 11,452.12 11,752.12

JUL AUG SEP OCT NOV DEC

11,752.12 11,752.12 11,552.12 11,552.12 N/A N/A

GAS12 2007 2008 2009 2010 2011 2012

DRY NATURAL-GAS PRODUCTION (bCuf) 2,628.14 2,840.74 2,770.46 3,095.71 3,258.16 N/A

DRY NATURAL-GAS CONSUMPTION (bCuf) 2,628.14 2,840.74 2,770.46 3,095.71 3,504.31 N/A

PROVEN RESERVES OF NATURAL GAS (tCuf) 253.11 258.47 263.50 275.70 283.50 N/A

v

5

OIL

AN

D G

AS

RE

PO

RT

FIELD INFORMATIONSaudi Arabia has hundreds of oil fields (see MAP OF SAUDI ARABIAN OIL FIELDS section); however, the below table lists the vast majority of Saudi Arabian reserves and their production capacities:16

FIELD RESERVES (mBbls)

PRODUCTION CAPACITY (kBpd)

GHAWAR 70,00017 5,00018

SAFANIYA 37,00019 1,50020

KHURAIS^ 27,00021 1,20022

MANIFA 10,00023 90024

QATIF 8,40025 50026

SHAYBAH 14,00027 75028

ZULUF 12,00029 45030

ABQAIQ 17,00031 32 40033

ABU SAFAH* 6,10034 30035

PARTITIONED ZONE (PZ)** 5,00036 60037

DAMMAM 50038 10039

^This field is made up of the Khurais, Abu Jifan, and Mazalij oil fields.40

*Ownership of this field was disputed with Bahrain for many years. Saudi Arabia is currently in ownership and control, but must give Bahrain 140kBpd of oil from Abu Safah, free of charge.41

** The Partitioned Zone (PZ) is made up of the Wafra, South Fuwaris, Humma, and South Umm Gudair fields.Chevronhas a concession agreement with Saudi Arabia to conduct upstream exploration and production in the onshore PZ which it shares with Kuwait. The agreement is valid until 2039. The PZ covers 76 wells, and production level is 3bBbls/yr.42

GAS FIELDSFIELD NAME RESERVES (tCuf) PRODUCTION CAPACITY (bCuf/d)

GHAWAR 110 243

KARAN 9 1.844

60% of Saudi Arabia’s gas reserves are in associated form, largely from the Ghawar; Zuluf; and Safaniya fields.45

MAP OF SAUDI ARABIAN OIL FIELDS46

v

6

OIL

AN

D G

AS

RE

PO

RT

INFRASTRUCTURE AND TRANSIT ROUTESSaudi Arabia currently has 98 active rigs,47 and 3,245 wells.48

OIL REFINERIESREFINERY NAME OPERATOR CAPACITY (kBpd)RAS TANURA49 Saudi Aramco 550JAZAN (TO BE COMPLETED IN 2016)50 Saudi Aramco 400JUBAIL II (COMPLETION END OF 2013)51 Saudi Aramco (62.5%); Total (37.5%) 400RABIGH52 Saudi Aramco; Sumitomo Chemical Co., Ltd 400YANBU (EXPORT)53 Saudi Aramco; ExxonMobil 400YASREF (COMPLETION END OF 2014)54 Saudi Aramco; Sinopec 400JUBAIL55 Saudi Aramco; Royal Dutch Shell 310YANBU (DOMESTIC)*56 Saudi Aramco 235RIYADH57 Saudi Aramco 124JEDDAH58 Saudi Aramco 88ESTIMATED TOTAL: 2,107 to date

3,307 by end of 2016

OIL AND GAS FACILITIESNAME PRODUCTION CAPACITY

CRUDE OIL (kBpd) GAS (mCuf/d)ABQAIQ 7,00059 -SHAYBAH NGL - 2.460

HARADH GAS PLANT - 1,60061

HARADH III 30062

HAWIYAH GAS PLANT - 2,40063

HAWIYAH NGL RECOVERY PLANT - 4,00064

JAZAN (OPERATIONAL IN 2016) 40065 -JU'AYMAH 3,00066 1.1 (mBpd) (gas fracking)67

KHURAIS 1,200 (crude oil)70 (condensate)68

32069

KHURSANIYAH 50070 1,00071

KHURSANIYAH GAS PLANT - 1,800 (from 2013)72

NUAYYIM 10073 9074

QATIF PRODUCING PLANT 80075 370SHAYBAH 75076 -SHEDGUM - 1,50077

'UTHMANIYAH GAS PLANT - 1,50078

YANBU 58579 -WASIT (COMPLETION END OF 2014) - 3,05080

OIL-EXPORT TERMINALSNAME PETROCHEMICALS (kBpd)RAS TANURA 2,50081

YANBU 4,50082

JU’AYMAH 3,60083

OTHER SMALLER TERMINALS: JEDDAH, DAMMAM, JUBAIL 2,292 (combined)84

v

7

OIL

AN

D G

AS

RE

PO

RT

POLITICAL

OVERVIEW→ Saudi Arabia has a monarchy, and does not have elected representative institutions.85

→ King Abdullah is head of government and commander-in-chief of the Saudi Arabian military.86

→ The Consultative (or ‘Shura’) Council’s appointed members offer advice to the ruling family.87

→ Municipal elections were held in 2005 to elect members of the local municipal councils, half of whom were elected and the other half appointed.88

CIVIL LIBERTIES→ Within its population of 27 million, there are over 30,000 political prisoners detained at present in Saudi Arabia;

yet, its political prisons are heavily oversubscribed, with a combined capacity of only 10,000.89

→ Human rights are limited within a strict interpretation of Sharia Law (which offers little, if no, protection for the civil liberties of women and minorities).90

→ The oil-rich Qatif province is home to a large Shia minority (5%-10% of the population) who frequently protest against discrimination and marginalisation by Sunni authorities.91 Since a 2011 uprising of Shia minorities in that region, which saw the deployment of over 10,000 security personnel,92 the area has remained tense.

→ Sporadic uprisings take place on a regular basis, and are met with a heavy hand from security forces. Several protestors have been shot, most recently on 28 September 2012 (see SECURITY section), and others are often injured and detained without trial.93 Energy production has not been targeted, and Saudi Arabia’s oil and gas infrastructure remains heavily protected.94

→ Political reforms are happening at a gradual pace:95 in September 2011, King Abdullah announced that women would have the right to join the Shura Council, an advisory board, starting from early 2013. However, they have to sit behind a screen, separate from their male counterparts, and must debate through an internal communications system.96 On 7 November 2012, the Shura Council announced that women must remove their veils for security screening at airports.97 Women will be allowed to participate in the 2015 municipal elections.98

RULING FAMILY→ In November 2012, King Abdullah was in hospital for a back operation. The King has reportedly made a full

recovery;99 however, he is aged 87, and, given his previous health problems, investors are likely to maintain a cautious approach over the fears of political instability during any future power transition.100

→ Like many rentier states, the government’s powerbase lies in its ability to provide large hand-outs and subsidies in order to appease its population. During the Arab Spring, it gave out $130b to its people, in order to ensure that protests did not spread through the Kingdom.101 With an increasing population;102 the inevitability of the eventual depletion of oil reserves; and a slow diversification strategy, the sustainability of this model is heavily debated.103

CORRUPTION→ Bribery and corruption are present in Saudi Arabian government offices;104 however, it is not as pervasive as in

other rentier states in the region, such as Iraq and Iran.105 Given the government’s virtual total control over the oil sector, there is little transparency and accountability, and no institutional checks over where much of the oil revenue goes. The lines between state assets and the Royal Family’s assets are often blurred.106

→ As a result, there is limited data available for potential investors about any extra costs that they might have to pay. Freedom House reported that foreign firms often have to pay bribes to “middlemen” and government officials in order to secure business deals.107 108

v

8

OIL

AN

D G

AS

RE

PO

RT

ECONOMIC

BACKGROUND→ Oil is the backbone of the Saudi Arabian economy: its petroleum sector accounts for approximately 90% of its

export earnings, 45% of its GDP,109 and 75%110-80%111 of its budget revenues.112

→ Despite the Royal Family’s vast wealth, many people are disconnected from the enclave oil sector (which remains insular, and employs relatively few locals). It is estimated that 34% of men aged 20-30 are unemployed and that average unemployment is 10%.113

DIVERSIFICATION→ The government recently launched Vision 2020, a programme aiming to increase the proportion of Saudi

Arabian nationals working in the private sector, in an effort to reduce high levels of unemployment.114

→ The government is attempting to diversify the economy away from oil, and towards other areas such as aluminium; fertiliser; and petrochemicals.

→ Under Vision 2020, the country aims to increase the number of Saudi Arabian nationals in the workforce from 15% to 30%, and to increase manufacturing from 11% to 20% of the economy – all by 2020 – in a process known as ‘Saudization’.115

→ There are signs that this is having some success, with recent data showing that the non-oil sector grew at 7.5% up to October 2012.116

→ Unemployment benefits ($400 per month) are roughly equivalent to a lower-grade private-sector salary, providing young Saudi Arabians with no incentive to find jobs.

→ The government needs a break-even oil price of $70/bbl in order to maintain its current spending and social contract with its people (see POLITICAL section).

→ Ownership and operation of assets by foreign investors is currently restricted by Saudi Arabian regulators. Foreign ownership of Saudi Arabian stocks is limited to 49%, and must take place through share-swaps with agreed groups.117 Ownership in the oil sector is particularly constrained to ensure that the Royal Family maintains control over its wealth.

→ Although the World Bank’s Doing Business 2013 survey ranks Saudi Arabia highly, the measures set by the World Bank to make the assessment have only been met by the Saudi Arabian government, while other sectors of the economy have not seen the same levels of reform.118

TAX→ Taxes and other revenues: 52.3% of Saudi Arabia’s GDP.119

→ Oil sector: 80% of tax revenue in Saudi Arabia.→ General-income tax: 20%.120

→ Oil- and hydrocarbon-production-income tax: 80%.121

→ Natural-gas-income tax: 30%.122

→ Capital gains: 20%.123

→ Non-resident income tax is 20%.124

v

9

OIL

AN

D G

AS

RE

PO

RT

SECURITY

DOMESTIC TERRORISM→ The terrorist organisation AQAP is active in Saudi Arabia and Yemen, and, since the group came to

prominence in 2003, has claimed responsibility for several terrorist attacks in Saudi Arabia,125 including a succession of co-ordinated suicide bomb attacks on Western housing compounds in Riyadh.126

→ AQAP launched an unsuccessful car-bomb attack, in February 2006, on the Abqaiq oil-processing facility (in Eastern Province). This caused the price of crude oil on the New York Mercantile Stock Exchange to rise by 3.4%, to $62.60/bbl.127

→ In 2004, the AQ leadership urged extremists in the Gulf region to “target the sources of oil”, highlighting the increased willingness of domestic extremists to target the Kingdom's oil infrastructure.128

→ In January 2011, the Kingdom deployed a 35,000-strong Facilities Protection Force to protect its oil infrastructure, underlining the perceived threat to the oil sector.129 Saudi Aramco also has 5,000 armed officials, and the entire Saudi Arabian National Guard is also available if necessary.130

→ Nevertheless, despite the presence of extremist groups, the rate of terrorist attacks has significantly declined: there have been no recent direct terrorist attacks on oil or gas infrastructure or personnel.

→ However, the state is still battling with the threat of terrorism. In early September 2012, several men were arrested in Riyadh for planning an attack.

→ With youth unemployment at 34% among men aged 20-30,131 Saudi Arabia is also struggling with turning many of its disenfranchised, unemployed youths away from the lure of jihadist groups.132

ETHNIC→ The oil-rich eastern province of Qatif has remained tense, following a succession of protests. At a rally in July

2012, two Shia protestors were shot and killed, and security forces arrested and injured a Shia cleric (Nimr al-Nimr, a prominent opponent of the Saudi Arabian Royal Family), further provoking anger. Since July, there have been numerous uprisings and a harsh response from the police, with five further killings and numerous arrests (see POLITICAL section).133

INTERNATIONAL→ Iran is suspected to have launched a cyber-attack against Saudi Aramco infrastructure in August 2012, which

deleted files on around 30,000 computers,134 in retaliation to the company supplying oil to customers whose imports from Iran have been blocked by sanctions.135

→ There is an on-going risk of AQAP in Yemen spilling over into Saudi Arabia. In November 2012, two Saudi Arabian border guards were killed in an ambush by the group. Saudi Arabia does not want to see a failed state on its border, due to the possible spill-over of violence and factions of AQAP, and consequently hosts CIA drone bases that have been launching attacks into Yemen.

v

10

OIL

AN

D G

AS

RE

PO

RT

FORECASTThis slow-moving state will face few new risks in the next three months, but faces multiple significant risks in the longer term.

Economic→ As long as Saudi Arabia is dependent on exporting oil to developing nations, the economy will remain

vulnerable to global fluctuations and economic events.→ Iraq is aiming to be exporting 13mBpd by 2020, and has the potential to be one of the world’s largest petroleum

producers. This would enable it to threaten Saudi Arabia’s position as OPEC’s main ‘swing producer’. Iraq’s return would weaken the Kingdom’s ability to control OPEC and the price of oil; this in turn could impact Saudi Arabian domestic events. Saudi Arabia needs a high oil price to help it control its populace.

→ Despite the country’s need for a high oil price in order to maintain political stability, any oil price above $100/bbl makes global investment in oil sands; natural gas; renewable energy; and multiple other sources economicallyunviable. This in turn will decrease global demand for Saudi Arabian oil. The country is caught in a dilemma between needing high oil prices in order to prevent further sporadic small-scale protests, and also needing low prices in order to continue to attract foreign buyers.

→ The EIA predicts that, at current growth rates, Saudi Arabia will consume 8mBpd by 2030, leaving much less oil for export.136

→ ‘Saudization’ measures will continue, in an effort to curb the country’s rising unemployment. However, until there are significant reforms to labour rights; education; and training, the majority of its sectors will continue to rely on foreign workers.

Security→ The Qaim region will remain volatile in the next three months, and the government will continue to meet any

uprising with a firm hand. Nonetheless, an attack on the oil and gas sector remains highly unlikely.→ With AQAP in Yemen highly likely to continue to grow in strength over the next three months, there is a low (but

existing) risk of an attempt by AQAP to attack Saudi Arabia in that timeframe. However, given the high level of security along the Saudi Arabian border and at oil sites, the chance of a successful attack is low.

→ Nevertheless, the country will become increasingly involved in combating the group, and will continue to let the CIA run drone strikes into Yemen.

→ There is an on-going, yet low, risk of a cyber-attack from Iran on energy infrastructure. Since the August 2012 attack, steps have been taken to increase security: implementing backup systems, and detaching the infrastructure from the Internet and wider networks, in order to limit vulnerability.137

v

11

OIL

AN

D G

AS

RE

PO

RT

APPENDIX 1 – DEFINITIONSTERM MEANINGABANDONMENT COST The cost associated with leaving an oil or gas field.ASSOCIATED PETROLEUM GAS A form of natural gas found in oil reservoirs.BLOCK A large area of land that is awarded to an oil company.BRENT CRUDE A classification or benchmark of ‘sweet oil’, used for trading purposes.BUNKERING Used either to describe the theft of oil from pipelines, or the refuelling of a

ship.CONCESSION A licence, given by a country, to explore and develop oil – ownership of the

resource is conferred.CONCESSION RIGHT Permission to explore for a resource within a defined area.CONDENSATE A mixture of hydrocarbon liquids that are found as a gas compound during

the production of natural gas.COST PETROLEUM The output needed from a field in order to cover exploration costs.DOWNSTREAM OPERATIONS The process of refining crude oil into petroleum products.DUTCH DISEASE The relationship between the rise in natural-resource extraction and the

decline in manufacturing and services due to increased currency costs.FARM-IN An agreement where one operator ‘buys in’ to another’s operations.FARM-OUT An agreement made by one operator to give part or all of the interest to

another operator.FISCAL BREAK-EVEN PRICE The oil price needed in order to balance a country’s budget.FLARING The controlled burning of excess gas.FORCE MAJEURE The suspension of a contract, due to unforeseen events.FRACKING The pumping of crude oil; water; or chemicals into a reservoir, with such

force that the reservoir rock is cracked, resulting in a greater flow of oil or gas from the reservoir.

FUTURES CONTRACT An agreement to buy a good at a set price in the future. Minimum purchase 1kBbls.

MARGINAL OIL FIELD A field that does not produce enough income to make it economically viable. If economic conditions change, it could become commercial again.

OFFSHORE Oil or gas produced from reservoirs from the seabed.OIL SHALE Oil from sedimentary shale rock – often expensive to extract, and has a large

negative environmental impact.ONSHORE Oil or gas situated or occurring on land.OPEC-BASKET PRICE The average price of 15 crude oils produced by OPEC members.PRODUCTION-SHARING AGREEMENT (PSA)

A contract, between a foreign oil firm and a state, dictating the percentage of the extracted resources that each side may keep.

PROFIT PETROLEUM Any output after cost petroleum.SOUR OIL Oil containing more than 0.5% sulphur.SPOT MARKET A market in which transactions occur for immediate delivery.SWEET OIL Oil containing less than 0.5% sulphur.TECHNICAL SERVICE AGREEMENT

A contact in which an operator is paid a fee per barrel for oil extraction.

UPSTREAM OPERATIONS The process of exploration, development, and production of oil and gas.WEST-TEXAS INTERMEDIATE (WTI)

A classification or benchmark of ‘sweet oil’, used for trading purposes.

v

12

OIL

AN

D G

AS

RE

PO

RT

APPENDIX 2 – GLOSSARY OF COMPANIESCOMPANY ACRONYM COUNTRY OF ORIGIN ISO CODE4M ENERGY USA USAABENER-BUTEC Spain/Lebanon ESP/LBNABRAJ ENERGY SERVICES Oman OMN

ABU DHABI COMPANY FOR ONSHORE OIL OPERATIONS ADCO

UAE (joint-owned: ADNOC (60%); BP (9.5%); Royal Dutch Shell (9.5%); ExxonMobil (9.5%); Total (9.5%); Partex (2%))

ARE

ABU DHABI GAS DEVELOPMENT COMPANY LTD Al-Hosn Gas UAE ARE

ABU DHABI GAS INDUSTRIES LTD GASCO UAE (joint-owned: ADNOC (68%); Royal Dutch Shell (15%); Total (15%); Partex (2%))

ARE

ABU DHABI GAS LIQUEFACTION COMPANY LIMITED ADGAS UAE (joint-owned: ADNOC (70%); Mitsui &

Co. (15%); BP (10%); Total (5%)) ARE

ABU DHABI MARINE OPERATING COMPANY

ADMA-OPCO

UAE (joint-owned: ADNOC (60%); BP (14.6%); Total (13.3%); JODCO (12%)) ARE

ABU DHABI NATIONAL ENERGY COMPANY TAQA UAE ARE

ABU DHABI NATIONAL OIL COMPANY ADNOC UAE AREABU DHABI OIL REFINING COMPANY Tankreer UAE AREADEN REFINERY COMPANY ARC Yemen YEMADIRA ENERGY Canada CANAFRIQUIA Morocco MARAGIP Italy ITAAGR PETROLEUM SERVICES HOLDINGS AS Norway NOR

AHMED SALEM BUGSHAN GROUP MAURITANIA ASB Saudi Arabia SAU

AIR LIQUIDE UK GBRAL-BOU KAMAL PETROLEUM COMPANY

Syria (joint venture between GPC and Tatneft) SYR

AL-FURAT PETROLEUM COMPANY AFPC Syria (joint venture initially between GPC, SSPD, and Deminex) SYR

ALLIED PETROLEUM Canada CANALMOARED Bahrain BHRAMMONITE ENERGY (INTERNATIONAL) INC. AEI Canada CAN

ANADARKO PETROLEUM COMPANY USA USAAPACHE USA USAARAB PETROLEUM INVESTMENTS Saudi Arabia SAUARABIAN GULF OIL COMPANY AGOCO Libya LBYARABIAN OIL COMPANY, LTD Japan JPNARABIAN ORYX SOCIETY Saudi Arabia SAUARI INVESTMENT PARTNERS USA USAASHTROM GROUP LTD Israel ISRATLANTIS TECHNOLOGY Norway NORATP OIL & GAS CORPORATION ATP USA USAAUSTRALIAN DRILLING ASSOCIATES Australia AUSAVNER OIL Israel ISRBADR EL-DIN PETROLEUM COMPANY BAPETCO Bahrain BHRBAHRAIN LUBE BASE OIL COMPANY GLBOC Bahrain BHRBAHRAIN NATIONAL OIL COMPANY BANOCO Bahrain BHRBAHRAIN PETROLEUM COMPANY BAPCO Bahrain BHRBARAKA Australia AUSBARAKA MAURITANIAN VENTURES LIMITED BMV Australia (owned by Baraka) AUS

BARRUS PETROLEUM UK (owned by Genel Energy) GBRBASHNEFT Russia RUS

v

13

OIL

AN

D G

AS

RE

PO

RT

BASRA GAS COMPANY Iraq IRQBEACH ENERGY LTD Australia AUSBELAYIM PETROLEUM COMPANY Petrobel Egypt/Italy EGY/ITA

BG GROUP UK GBRBLUE WATER OIL & GAS EXPLORATIONS LTD Israel ISR

BOTAŞ PETROLEUM PIPELINE CORPORATION BOTAS Turkey TUR

BOYBYAN PETROCHEMICAL COMPANY Kuwait KWT

BRITISH GAS UK GBRBRITISH PETROLEUM CO. PLC BP UK GBRBROWNBARB (ISRAEL) INC. Israel (owned by Brownstone Energy Inc.) ISRBROWNSTONE ENERGY INC. Canada CAN

BUNDUQ OIL PRODUCING COMPANYUAE (joint venture between ADNOC and QP, with holdings by BP; Cosmo Oil Co.; JX Nippon Oil & Energy Corporation; and Mitsui & Co.)

ARE

CAIRN ENERGY UK GBRCAITHNESS PRETROLEUM LIMITED UK GBRCALVALLEY PETROLEUM, INC. Canada CANCANAMENS ENERGY LIMITED UK GBRCANDAX ENERGY Canada/Tunisia CAN/TUNCAPITAL POINT LTD Israel ISRCASPIAN DRILLING COMPANY Azerbaijan AZECASSAL DRILLING PTY. LTD Canada CANCASSELA WINES PTY. LTD Israel ISRCC ENERGY DEVELOPMENT Oman OMN

CHARIOT OIL & GAS UK GBRCHARIOT OIL AND GAS EXPORTS Morocco MARCHEVRON USA USACHINA NATIONAL OFFSHORE OIL CORPORATION CNOOC China CHN

CHINA NATIONAL OIL AND GAS EXPLORATION AND DEVELOPMENT CORPORATION

CNODC China CHN

CHINA NATIONAL PETROLEUM CORPORATION CNPC China CHN

CIRCLE OIL PLC Ireland IRLCJ GROUP India INDCOLERIDGE GAS & OIL EXPLORATION ISRAEL LTD Israel ISR

COMPAGNIE MAROCAINE DES HYDROCARBURES CMH Morocco MAR

COMPAÑÍA ESPAÑOLA DE PETRÓLEOS CEPSA Spain ESP

CONCORD ENERGY Singapore SGPCONOCOPHILLIPS USA USACONSOLIDATED CONTRACTORS COMPANY CCC Lebanon LBN

COSMO OIL CO. Japan JPNCOVE ENERGY UK (owned by PTTEP) GBRCRESCENT PETROLEUM UAE AREDADEN INVESTMENT LTD Israel ISRDAEWOO SHIPBUILDING South Korea KORDAILEM South Korea KORDALEEL Oman OMNDANA GAS UAE (owned by Crescent Petroleum) AREDANA PETROLEUM UK (owned by KNOC) GBRDARA PETROLEUM COMPANY PetroDara Egypt EGY

v

14

OIL

AN

D G

AS

RE

PO

RT

DEIR EZ-ZOR PETROLEUM COMPANY DEZPC Syria (joint venture between SPC and Total) SYR

DELEK DRILLING Israel ISRDELEK GROUP Israel ISR

DEMINEX France (owned by Wintershall Holding GmbH) FRA

DIJLA PETROLEUM COMPANY Syria (joint venture between SPC and Gulfsands Petroleum PLC) SYR

DNO INTERNATIONAL Norway NOR

DOLPHIN ENERGY

UAE (joint-owned: Mubadala Development Company (51%)*; OXY (24.5%); Total (24.5%)

*Mubadala Development Company is an investment company belonging to the UAE Government.

ARE

DOR GAS EXPLORATION Israel ISRDOVE ENERGY GROUP LIMITED UAE AREDOVER OIL COMPANY USA USADOW CHEMICALS COMPANY USA USADUBAI NUCLEAR ENERGY COMMITTEE DNEC UAE ARE

DUBAI PETROLEUM UAE AREDUBAI PETROLEUM AFFAIRS DPA UAE AREDUBAI PETROLEUM ESTABLISHMENT DPE UAE AREDUBLIN INTERNATIONAL PETROLEUM (SYRIA) LIMITED

Canada (owned by TransGlobe Energy Corporation) CAN

EAST MEDITERRANEAN GAS COMPANY EMG

Egypt (joint-owned: Mediterranean Gas Pipeline Ltd (28%); Merhav (25%); PTTEP (25%); EMI-EGI LP (12%)*; EGPC (10%))

*EMI-EGI LP is a partnership between the computing-services firms the European Middleware Initiative, and the European Grid Infrastructure.

EGY

EAST WEST PETROLEUM CORPORATION Canada CAN

ECUMED PETROLEUM Canada (owned by Candax) CANEDISON SPA Italy ITAEESTI ENERGIA Estonia ESTEGYPTIAN GENERAL PETROLEUM CORPORATION EGPC Egypt EGY

EGYPTIAN NATURAL GAS HOLDING COMPANY EGAS Egypt EGY

EGYPTIAN PETROCHEMICALS HOLDING COMPANY ECHEM Egypt EGY

EILAT ASHKELON PIPELINE CO. LTD EAPC Israel ISRELLOMAY OIL AND GAS 2011 LTD Israel ISREMANUELLE ENERGY LTD Israel (owned by ILDC Energy) ISREMANUELLE ENERGY – OIL AND GAS EXPLORATION Israel (owned by Emanuelle Energy Ltd) ISR

EMERALD ENERGY PLC UK (owned by Sinochem Group) GBREMIRATES NATIONAL OIL COMPANY ENOC UAE AREENEFIT Estonia ESTENEGI OIL PLC UK GBRENEL Italy ITAENERGY EQUITY RESOURCES EER UK GBRENI SPA Italy ITAENSEARCH PETROLEUM PVT. LTD India (owned by Sahara Group) INDENSO GROUP India INDENTERPRISE TUNISIENNE D'ACTIVITIES PÉTROLIÈRES ETAP Tunisia TUN

EOG RESOURCES, INC. USA USA

v

15

OIL

AN

D G

AS

RE

PO

RT

ESNAAD UAE AREEXXONMOBIL USA USAFASTNET OIL & GAS PLC UK GBRFP MAURITANIA Mauritania MRTFRENDUM INVESTMENT LTD Israel ISRFUSION MAURITANIA Mauritania MRTGANOUB EL-WADI PETROLEUM HOLDING COMPANY GANOPE Egypt EGY

GASAL Qatar QATGAZPROM Russia RUSGDF SUEZ France FRAGEMSA PETROLEUM COMPANY GEMPETCO Egypt EGYGENEL ENERGY UK GBRGENERAL CORPORATION FOR REFINING AND DISTRIBUTION OF PETROLEUM PRODUCTS

GCRDPP Syria SYR

GENERAL ORGANISATION FOR REFINING AND DISTRIBUTION OF PETROLEUM PRODUCTS

GORDPP Syria SYR

GENTING GROUP Malaysia ASGALLO OIL (JERSEY) LTD Jersey JEYGALP ENERGIA Portugal PRTGENERAL DEPARTMENT OF CRUDE OIL MARKETING GDCOM Yemen YEM

GENERAL PETROLEUM COMPANY GPC Syria SYRGEOGLOBAL RESOURCES INC. India INDGETTY OIL CO. USA USAGINKO OIL EXPLORATION LTD Israel ISRGIVOT OLAM OIL EXPLORATION LTD Israel ISRGLOBAL OIL SHALE HOLDINGS GOSH Canada CANGLOBAL PETROLEUM INDIA India INDGLOBE EXPLORATION LTD Israel ISRGLOBE INTERNATIONAL HOLDINGS SA Israel ISR

GULF OI USA USAGULF DRILLING INTERNATIONAL Qatar QATGULF INTERNATIONAL SERVICES Qatar QATGULF KEYSTONE PETROLEUM UK GBRGULF OF SUEZ PETROLEUM COMPANY GUPCO Egypt/UK (joint venture between EGPC

and BP) EGY/GBR

GULF OIL UK GBRGULF PETROCHEMCIAL INDUSTRIES COMPANY GPIC Bahrain (joint venture between all GCC

states) BHR

GULFSANDS PETROLEUM PLC UK GBRHARDMAN RESOURCES Australia (owned by Tullow Oil PLC) AUSHARVEST OMAN BV USA USAHAYAN PETROLEUM COMPANY Syria (joint venture between SPC and INA) SYRHBS OIL COMPANY Tunisia TUNHELLENIC PETROLEUM Greece GRCHESS/AMERADA HESS USA USAHI TECH PETROLEUM GROUP Sudan SDNHIMALAYA ENERGY SYRIA BV Syria SYRHOOD OIL LTD Yemen YEMHUNT OIL COMPANY USA USAIDB DEVELOPMENT CORPORATIONLTD Israel ISR

IDEMITSU KOSAN Japan JPNIMARA ENERGY CORP. Canada CANIMPROVED PETROLEUM RECOVERY GROUP OF COMPANIES IPRGOC USA (joint venture between a group of

companies) USA

INA-INDUSTRIJA NAFTE, DD INA Croatia HRVINCREMENTAL PETROLEUM Australia AUS

v

16

OIL

AN

D G

AS

RE

PO

RT

INDUSTRIES QATAR Qatar QATINOC DEAD SEA LTD Israel ISRINPEX CORPORATION Japan JPNINTER RAO Russia RUSINTERNATIONAL CORPORATION FOR OIL SHALE INVESTMENT INCOSIN Jordan JOR

INTERNATIONAL PETROLEUM GROUPING SA IPG Mauritania/Russia MRT/RUS

IPC OIL & GAS HOLDINGS, LTD Israel ISRIPR MEDITERRANEAN EXPLORATION LTD USA (owned by IPRGOC) USA

IRAQ NATIONAL OIL COMPANY INOC Iraq IRQISRAEL ELECTRIC CORPORATION IEC Israel ISRISRAEL LAND DEVELOPMENT COMPANY – ENERGY LTD ILDC Energy Israel ISR

ISRAEL NATURAL GAS LINES INGL Israel ISRISRAEL OPPORTUNITY ENERGY RESOURCES LTD Israel ISR

ISRAMCO NEGEV 2 USA USAITOCHU Japan JPNJANNAH HUNT OIL COMPANY JHOC USA (owned by KEC) USAJAPEX Japan JPNJGC CORPORATION Japan JPNJODCO Japan (owned by INPEX Corporation) JPNJORDAN AQABA PETROLEUM COMPANY LIMITED Jordan JOR

JORDAN ENERGY AND MINING LIMITED JEML UK GBR

JORDAN OIL SHALE COMPANY JOSCO Jordan (owned by Royal Dutch Shell) JORJORDAN OIL SHALE ENERGY COMPANY JOSECO Jordan JOR

JORDAN NATIONAL PETROLEUM COMPANY JNPC Jordan JOR

JORDAN PETROLEUM REFINERY COMPANY JPRC Jordan JOR

JSC ZARUBEZHNEFT Russia RUSJX NIPPON OIL & ENERGY CORPORATION Japan JPN

KARAK INTERNATIONAL OIL KIO Jordan (owned by JEML) JOR

KHALDA PETROLEUM COMPANY KPC Egypt EGYKOREA NATIONAL OIL COMPANY KNOC South Korea KORKOREAN GAS CORPORATION KOGAS South Korea KORKOREA GLOBAL ENERGY CORPORATION KGEC South Korea KOR

KOSMOS ENERGY USA USAKUFPEC Kuwait KWTKURDISTAN EXPLORATION AND PRODUCTION COMPANY Kurdistan -

KURDISTAN MARKETING OPERATIONS Kurdistan -KURDISTAN NATIONAL OIL COMPANY Kurdistan -KURDISTAN OIL TRUST ORGANISATION KOTO Kurdistan -KURDISTAN ORGANISATION FOR DOWNSTREAM OPERATIONS Kurdistan -

KUWAIT ENERGY KEC Kuwait KWTKUWAIT FOREIGN PETROLEUM EXPLORATION CO. KUFPEC Kuwait KWT

KUWAIT GULF OIL COMPANY KGOC Kuwait KWTKUWAIT NATIONAL PETROLEUM CO. KNPC Kuwait KWTKUWAIT OIL CO. KOC Kuwait KWTKUWAIT OIL TANKER CO. KOTC Kuwait KWTKUWAIT PETROLEUM CORP. Kuwait KWT

v

17

OIL

AN

D G

AS

RE

PO

RT

KUWAIT PETROLEUM INTERNATIONAL KPI Kuwait KWTLAFFAN REFINERY Qatar QATLAPIDOTH-HELETZ LTD Israel ISRLASMO PLC UK (owned by Eni SpA) GBRLIWA ENERGY UAE ARELNG JAPAN CORP. Japan JPNLONGREACH OIL & GAS Jersey JEYLUKOIL Russia RUSLUNDIN Sweden SWEM/V POLAR DUKE Norway NORMABADALA UAE AREMABRUK Libya LBYMAERSK Denmark DNKMAGHREB PETROLEUM EXPLORATION SA MPE Norway NOR

MARATHON USA USAMARETAP Tunisia TUNMARUBENI CORPORATION Japan JPNMAUREL & PROM SA France FRAMEDCO ENERGI Indonesia IDNMEDITERRANEAN GAS PIPELINE LTD UK GBRMELLITAH OIL Libya LBYMELROSE RESOURCES UK (owned by Petroceltic) GBRMERHAV Israel ISRMIDLAND OIL COMPANY Iraq IRQMINISTRY OF ENERGY MOE Yemen YEMMINISTRY OF ENERGY AND MINERAL RESOURCES MEMR Jordan JOR

MINISTRY OF ENERGY AND NATURAL RESOURCES ETKB Turkey TUR

MINISTRY OF PETROLEUM AND MINERAL RESOURCES Saudi Arabia SAU

MINISTRY OF PETROLEUM AND MINERAL RESOURCES Syria SYR

MINISTRY OF PETROLEUM, ENERGY, AND MINES Mauritania MRT

MINISTRY OF OIL AND MINERAL RESOURCES MOMR Yemen YEM

MISSAN OIL COMPANY Iraq IRQMITSUI & CO. Japan JPNMMD USA USAMODIIN ENERGY LTD Israel ISRMOL Hungary HUNNAFTAL Algeria (owned by Sonatrach) DZANAFTOGAZ Ukraine UKRNAMMAX OIL & GAS LTD Israel ISRNAPHTHA EXPLORATIONS LTD Israel ISRNATIONAL DRILLING COMPANY NDC UAE ARENATIONAL IRANIAN GAS COMPANY NIGC Iran IRNNATIONAL IRANIAN GAS EXPORT COMPANY NIGEC Iran IRN

NATIONAL IRANIAN OIL COMPANY NIOC Iran IRNNATIONAL IRANIAN OIL REFINING AND DISTRIBUTION COMPANY NIORDC Iran IRN

NATIONAL IRANIAN PETROCHEMICAL COMPANY NIPC Iran IRN

NATIONAL IRANIAN SOUTH OIL COMPANY NISOC Iran IRN

NATIONAL IRANIAN TANKER COMPANY NITC Iran IRNNATIONAL OIL AND GAS AUTHORITY NOGA Bahrain BHRNATIONAL OIL CORPORATION NOC Libya LBYNATURAL RESOURCES AUTHORITY NRA Jordan JOR

v

18

OIL

AN

D G

AS

RE

PO

RT

NAUTICAL PETROLEUM UK (owned by Cairn Energy) GBRNESTE Finland FINNEWCO USA USANEXEN Canada CANNICO Iran (owned by NIOC) IRNNOBLE ENERGY USA USANORTH OIL COMPANY Iraq IRQNOVATEK Russia RUSOCCIDENTAL PETROLEUM CORPORATION OXY USA USA

OFFICE NATIONAL DES HYDROCARBURES ET DES MINES ONHYM Morocco MAR

OIL AND NATURAL GAS CORPORATION LIMITED ONGC India IND

OIL MARKETING COMPANY SOMO Iraq IRQOILEX Australia AUSOMAN GAS COMPANY Oman OMNOMAN LIQUIDISED NATURAL GAS Oman OMNOMAN LNG Oman OMNOMAN OIL COMPANY OOC Oman OMNOMAN OIL COMPANY EXPLORATION AND PRODUCTION OOCEP Oman OMN

OMANI REFINERIES AND PETROCHEMICALS COMPANY ORPC Oman OMN

OMAN SHIPPING COMPANY OSC Oman OMNOMV Austria AUTORYX GTL Qatar QAT

OUDEH PETROLEUM COMPANY OPCSyria (joint venture between SPC and Dublin International Petroleum (Syria) Limited)

SYR

PA RESOURCES Sweden SWEPAKISTAN PETROLEUM Pakistan PAKPALESTINE INVESTMENT FUND PIF Palestine PSEPARS OIL AND GAS COMPANY POGC Iran IRNPARTEX Portugal PRTPATHFINDER HYDROCARBON VENTURES LTD Jersey (owned by Fastnet Oil & Gas PLC) JEY

PERENCO UK/France GBR/FRAPETOIL Turkey TURPETRA DRILLING COMPANY Jordan JORPETREL RESOURCES PLC Ireland IRLPETROCELTIC Ireland IRLPETROCHEMICAL INDUSTRIES CO. PIC Kuwait KWTPETROCHINA China (owned by CNPC) CHNPETROFAC Jersey JEYPETROFINA Belgium (merged with Total) BELPETROLEB Lebanon LBNPETROLEUM DEVELOPMENT OMAN PDO Oman OMNPETROLEUM EXPLORATION AND PRODUCTION AUTHORITY PEPA Yemen YEM

PETROLEUM EXPLORATION (PVT.) LIMITED PEL Pakistan PAK

PÉTROLIA Canada CANPETROM Romania ROUPETROMASILA Yemen YEMPETRONAS Malaysia MYSPETROQUEST ENERGY, INC. USA USAPETROTEL OMAN LLC Oman OMNPINETREE CAPITAL Canada CANPIONEER NATURAL RESOURCES USA USAPLACIDA INVESTMENT LTD Israel ISRPLAINS EXPLORATION & PRODUCTION PXP USA USA

v

19

OIL

AN

D G

AS

RE

PO

RT

COMPANYPREMIER OIL UK GBRPTT EXPLORATION AND PRODUCTION PUBLIC COMPANY LIMITED PTTEP Thailand THA

PURA VIDA ENERGY Australia AUSQ CHEM 2 PROJECT Qatar QATQALHAT LN Oman OMNQARUN PETROLEUM COMPANY QPC Egypt EGYQATAR AS Qatar QATQATAR CHEMICAL COMPANY Qatar QATQATAR GENERAL PETROLEUM CORPORATION QGPC Qatar QAT

QATAR HOLDING Qatar QATQATAR INDUSTRIAL MANUFACTURING COMPANY QIMC Qatar QAT

QATAR LIQUEFIED GAS COMPANY Qatargas Qatar QATQATAR PETROCHEMICAL COMPANY QAPCO Qatar QATQATAR PETROLEUM QP Qatar QATQATAR PETROLEUM INTERNATIONAL Qatar QATQATAR VINYL COMPANY Qatar QATQATOFIN Qatar QATRAK PETROLEUM UAE ARERAS AL-KHAIMAH GAS COMMISSION RAK Gas UAE ARERASGAS Qatar QATRAS LAFFAN POWER COMPANY Qatar QATRATIO OIL EXPLORATION Israel ISRRELIANCE INDUSTRIES LTD India INDREPSOL SA Spain ESPREX ENERGY Oman OMNRIGO Canada CANROC OIL Australia AUSROSNEFT Russia RUSROYAL DUTCH SHELL UK/Netherlands GBR/NLDRUHRGAS Germany DEURUMAILA FIELD OPERATING ORGANIZATION Iraq IRQ

RWE DEA AG RWE Germany DEUSAFER E&P OPERATIONS COMPANY Safer Yemen YEMSAHARA GROUP India INDSAN LEON ENERGY UK GBRSAPIEM Italy (43% owned by Eni SpA) ITASASOL South Africa ZAF

SAUDI ARABIAN OIL COMPANY Saudi Aramco Saudi Arabia SAU

SEA DRAGON Canada CANSEADRILL Norway NORSEEF Qatar QATSEREPT Tunisia TUNSERICA ENERGY PLC UK GBRSHARJAH LIQUEFACTION GAS COMPANY SHALCO UAE ARE

SHARJAH NATIONAL OIL CORPORATION SNOC UAE ARE

SHEMEN OIL & GAS RESOURCES LTD Israel ISRSINOCHEM GROUP China CHNSINOPEC China CHNSIPEX Algeria (owned by Sonatrach) DZASIRTE OIL COMPANY Libya LBYSK GROUP South Korea KORSOCAR Azerbaijan AZESOCIÉTÉ ANONYME MAROCAINE DE L’INDUSTRIE DU RAFFINAGE SAMIR Morocco MAR

v

20

OIL

AN

D G

AS

RE

PO

RT

SOCIÉTÉ DES MINES DE CUIVRE DE MAURITANIE MCM Mauritania MRT

SOCIÉTÉ MAURITANIENNE D’ÉLECTRICITÉ SOMELEC Mauritania MRT

SOCIÉTÉ MAURITANIENNE DES HYDROCARBURES SMH Mauritania MRT

SOCIÉTÉ MAURITANIENNE INDUSTRIELLE DE RAFINERIE SOMIR Mauritania MRT

SOCIÉTÉ NATIONALE INDUSTRIELLE ET MINIÈRE DE MAURITANIE SNIM Mauritania MRT

SOCIÉTÉ TUNISIENNE D'ELECTRICITÉ ET DU GAZ STEG Tunisia TUN

SODEPS Tunisia TUNSOJITZ Japan JPNSOMEPI GROUP Morocco MARSONANGOL Angola AGOSONATRACH Algeria DZASONORAN ENERGY (JORDAN) LTD India (owned by Enso Group) INDSOUTH DABAA PETROLEUM COMPANY DAPETCO Egypt EGYSOUTH HOOK GAS COMPANY Qatar QATSOUTH OIL COMPANY SOC Iraq IRQSPECTRUM UK GBRSTATOIL Norway NORSTORM Canada/USA CAN/USASTROYTRANSGAZ Russia RUSSUBSEA 7 Luxembourg LUX

SUEZ OIL COMPANY SUCO Egypt EGY

SULTANI INTERNATIONAL OIL SIO India/Jordan (joint-owned: CJ Group (51%); JOSECO (49%)) IND/JOR

SUMITOMO CHEMICAL CO., LTD Japan JPNSUNCOR ENERGY Canada CANSUPREME COUNCIL FOR PRETOLRUM AND MINERAL AFFAIRS SPMC Saudi Arabia SAU

SUPREME COUNCIL OF ENERGY SCE UAE ARESUPREME PETROLEUM COUNCIL UAE ARESYRIA SHELL PETROLEUM DEVELOPMENT BV SSPD UK (owned by Royal Dutch Shell) GBR

SYRIA TRADING OIL COMPANY Sytrol Syria SYR

SYRIA-SINO AL-KAWKAB OIL COMPANY Syria (joint venture between SPC and CNODC) SYR

SYRIAN COMPANY FOR OIL TRANSPORT SCOT Syria SYR

SYRIAN COMPANY FOR THE DISTRIBUTION OF PETROLEUM PRODUCTS

Mahrukat Syria SYR

SYRIAN GAS COMPANY SGC Syria SYRSYRIAN PETROLEUM COMPANY SPC Syria SYRSYRIA SHELL PETROLEUM DEVELOPMENT Syria SYR

TALISMAN Canada CANTANGIERS PETROLEUM LTD Australia AUSTATNEFT Russia RUSTATWEER PETROLEUM Bahrain BHRTECHNIP France FRATETHYS HOLDING Sweden SWETEXACO USA USATHYNA PETROLEUM Tunisia TUNTHYSSEN PETROLEUM LTD Germany DEUTOPIC SA Tunisia TUNTOTAL France FRATRANS-GLOBAL PETROLEUM JORDAN, TGPJ USA USA

v

21

OIL

AN

D G

AS

RE

PO

RT

LTDTRANSATLANTIC Canada CANTRANSGLOBE ENERGY CORPORATION Canada CANTRIANGLE ENERGY (GLOBAL) LIMITD Australia AUSTTU LIMITED TTU Russia RUSTULLOW OIL PLC UK GBRTUNISO-KUWAITIAN COMPANY OF PETROLEUM Kuwait/Tunisia KWT/TUN

TURKISH PETROLEUM CORPORATION TPAO Turkey TURUAE GAS SALES Oman OMNUNIÓN FENOSA SA Spain ESPUNION TEXAS PETROLEUM INVESTMENT COMPANY TPIC USA USA

UNIVERSAL ENERGIES LTD India INDUPSILON ENERGY INTERNATIONAL LIMITED UK GBR

VEGA Canada CANVERMILION ENERGY Canada CANWINSTAR RESOURCES LTD Canada CANWINTERSHALL HOLDING GMBH Germany DEUWOODSIDE PETROLEUM Australia AUSYEMEN GAS COMPANY YGC Yemen YEMYEMEN HUNT OIL COMPANY Yemen USA

YEMEN OIL COMPANY YOC Yemen YEMYEMEN REFINING COMPANY YRC Yemen YEMYEMEN’S GENERAL CORPORATION FOR OIL, GAS, AND MINERAL RESOURCES Yemen YEM

YOKOGAWA MIDDLE EAST Japan JPNYTL POWER INTERNATIONAL BERHAD Malaysia MYS

ZAKUM DEVELOPMENT COMPANY ZADCO UAE (joint-owned: ADNOC (60%); ExxonMobil (28%); JODCO (12%)) ARE

ZERACH OIL EXPLORATION LTD Israel ISRZERAH OIL & GAS EXPLORATIONS LTD Israel ISRZION OIL & GAS, INC. USA USA

v

22

OIL

AN

D G

AS

RE

PO

RT

1 ‘Saudi Arabia may consider drilling for oil in western province’ Al Arabiya News Channel, 25 June 2012, available at: http://www.alarabiya.net/articles/2012/06/25/222699.html. Last visited: 17 February 2013. 2 ‘International Energy Statistics – Petroleum – Production – Annual – Total Oil Supply (Thousand Barrels Per Day)’, EIA, available at: http://www.eia.gov/cfapps/ipdbproject/IEDIndex3.cfm?tid=5&pid=53&aid=1. Last visited: 20 February 2013. 3 ‘US to Overtake Saudi Arabia? Skewing the Oil Stats’, OilPrice.com, 25 October 2012, available at: http://www.oilprice.com/Energy/Crude-Oil/US-to-Overtake-Saudi-Arabia-Skewing-the-Oil-Stats.html. Last visited: 12 February 2013. 4 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 5 ‘Saudi Arabia Economy Profile 2013’, IndexMundi, 21 February 2013, available at: http://www.indexmundi.com/saudi_arabia/economy_profile.html. Last visited: 20 April 2013. 6 ‘Saudi Arabia facts and figures’, OPEC, available at: http://www.opec.org/opec_web/en/about_us/169.htm. Last visited: 19 February 2013. 7 ‘Saudi Arabia Economy Profile 2013’, op. cit. (endnote 926). 8 ‘Saudi Arabia facts and figures’, op. cit. (endnote 927). 9 ‘Saudi Arabia Energy Profile: World’s Second Largest Oil Producer Behind Russia - Analysis’, Eurasia Review, 12 February 2013, available at: http://www.eurasiareview.com/12022013-saudi-arabia-energy-profile-worlds-second-largest-oil-producer-behind-russia-analysis/. Last visited: 17 February 2013. 10 ‘Saudi Arabia happy with current oil price: minister’, Al Arabiya News Channel, 11 November 2012, available at: http://english.alarabiya.net/articles/2012/11/11/248913.html. Last visited: 17 February 2013. 11 ‘International Energy Statistics – Petroleum – Production – Annual – Total Oil Supply (Thousand Barrels Per Day)’, op. cit. (endnote 923). 12 ‘The World Factbook: Country Comparison: Oil – Proved Reserves’, CIA, available at: https://www.cia.gov/library/publications/the-world-factbook/rankorder/2178rank.html. Last visited: 7 January 2013. 13 ‘Saudi Arabia Economy Profile 2013’, op. cit. (endnote 926). 14 ‘Saudi Aramco in a changing world: the international, national and organizational context’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/news/speeches/saudi-aramco-in-a-changing-world--the-international--national-an.html#news%257C%252Fen%252Fhome%252Fnews%252Fspeeches%252Fsaudi-aramco-in-a-changing-world--the-international--national-an.baseajax.html. Last visited: 17 February 2013. 15 ‘BP in Saudi Arabia’, BP, available at: http://www.bp.com/sectiongenericarticle.do?categoryId=484&contentId=2000678. Last visited: 18 February 2013. ‘SABIC and ExxonMobil to Proceed with Specialty Elastomers Project in al-Jubail’, SABIC, 25 June 2012, available at: http://www.sabic.com/corporate/en/newsandmediarelations/news/2012/20120625--SABIC-and-ExxonMobil-to-proceed-with-specialty-elastomers-project-in-Al-Jubail. Last visited: 18 February 2013. ‘Yanbu Aramco Sinopec Refining Company (YASREF)’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/projects/yasref.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fprojects%252Fyasref.baseajax.html. Last visited: 19 February 2013. ‘Posts Tagged 'Saudi Arabia'’, Royal Dutch Shell, available at: http://royaldutchshellplc.com/tag/saudi-arabia/. Last visited: 18 February 2013. ‘Chevron in Saudi Arabia’, Chevron, available at: http://careers.chevron.com/global_operations/country_operations/saudi_arabia/default.aspx. Last visited: 18 February 2013. ‘Saudi Arabia – Analysis’, EIA, 26 February 2013, available at: http://www.eia.gov/countries/cab.cfm?fips=sa. Last visited: 20 April 2013. ‘Petrolia’, Petrolia, available at: http://www.petroliagaz.com/index_en.php. Last visited: 18: February 2013. ‘Dow in the Kingdom of Saudi Arabia’, The Dow Chemical Company, available at: http://www.dow.com/middleeast/about/saudi.htm. Last visited: 18 February 2013. ‘About Us’, Sumitomo Chemical Asia, available at: http://www.sca.com.sg/english/about_us.html. Last visited: 18 February 2013. ‘Saudi Aramco and ConocoPhillips Relaunch Bidding Process for Yanbu Project’, ConocoPhillips. 30 June 2009, available at: http://www.conocophillips.com/EN/newsroom/news_releases/2009news/Pages/06-30-2009.aspx. Last visited: 18 February 2013. ‘Company Profile’, Saudi Arabian Chevron, 21 April 2013, available at: http://www.sachevron.com/aboutsac.aspx. Last visited: 21 April 2013. 16 ‘International Energy Statistics – Petroleum – Production – Annual – Total Oil Supply (Thousand Barrels Per Day)’, op. cit. (endnote 923). 17 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 18 Ibid. 19 ‘10 Amazing Facts About Oil’, Market Daily News, 16 December 2010, available at: http://www.marketdailynews.com/tag/safaniya/. Last visited: 17 February 2013. 20 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 21 ‘Top 10 Gulf mega projects’, arabianOilandGas.com, 9 September 2009, available at: http://www.arabianoilandgas.com/article-5411-top-10-gulf-mega-projects/5/#.UXNHWqI3uuJ. Last visited: 17 February 2012. 22 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 23 ‘Drilling starts on Saudi 'supergiant' Manifa oil project’, The National, 11 March 2010, available at: http://www.thenational.ae/business/energy/drilling-starts-on-saudi-supergiant-manifa-oil-project. Last visited: 17 February 2013. 24 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 25 ‘Qatif-Abu Sa'fah, Saudi Arabia’, hydrocarbons-technology.com, available at: http://www.hydrocarbons-technology.com/projects/qatif/. Last visited: 17 February 2013.

v

23

OIL

AN

D G

AS

RE

PO

RT

26 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 27 ‘Shaybah Oil Field’, OilVoice, available at: http://www.oilvoice.com/well/Shaybah_Oil_Field/3ab6baf0d760.aspx. Last visited: 17 February 2013. 28 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 29 Robelius, Fredrik, ’Giant Oil Fields of the World’, Uppsala University (2005), available at: http://www.peakoil.net/AIMseminar/UU_AIM_Robelius.pdf. Last visited: 17 February 2013. 30 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 31 Al-Rodhan, Khalid R., ‘The Impact of the Abqaiq Attack on Saudi Energy Security’, CSIS (27 February 2006), available at: http://www.csis.org/files/media/csis/pubs/060227_abqaiqattack.pdf. Last visited: 17 February 2013. 32 ‘Tech Talk - Production from Abqaiq, an Aging Queen’, The Oil Drum, 9 April 2012, available at: http://www.theoildrum.com/node/9092. Last visited: 17 February 2013. 33 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 34 ‘The Rest Of The Oil Fields In Saudi Arabia Are Pretty Disappointing’, Business Insider, 8 July 2012, available at: http://www.businessinsider.com/the-rest-of-the-oil-fields-in-saudi-arabia-are-pretty-disappointing-2012-7. Last visited: 17 February 2013. 35 Ibid. 36 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 37 Ibid. 38 ‘Saudi Aramco to re-open Dammam oil field after 30 years’, Digital Journal, 20 February 2012, available at: http://www.digitaljournal.com/article/319934. Last visited: 18 February 2013. 39 Ibid. 40 ‘Top 10 Gulf mega projects’, op. cit. (endnote 942). 41 ‘Aramco launches Abu Safa oilfield expansion project’, Al Bawaba Business, 4 August 2002, available at: http://www.albawaba.com/business/aramco-launches-abu-safa-oilfield-expansion-project. Last visited: 8 January 2013. 42 ‘Saudi Arabia Factsheet’, Chevron (July 2012), available at: http://www.chevron.com/documents/pdf/saudiarabiafactsheet.pdf. Last visited: 7 January 2013. 43 ‘Ghawar oil field, Saudi Arabia’, The Energy Library, available at: http://www.theenergylibrary.com/node/13221. Last visited: 17 February 2013. 44 ‘Karan Gas Field, Saudi Arabia’, offshore-technology.com, available at: http://www.offshore-technology.com/projects/karan-gas-field/. Last visited: 17 February 2013. 45 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 46 Ibid. 47 ‘Saudi Arabia Has About 98 Onshore Drilling Rigs, Shoaibi Says’, Bloomberg Businessweek, 6 September 2012, available at: http://www.businessweek.com/news/2012-09-06/saudi-arabia-has-about-98-onshore-drilling-rigs-shoaibi-says. Last visited: 18 February 2013. 48 Ibid. 49 ‘OPEC Annual Statistical Bulletin 2012’, op. cit. (endnote 1), p.36. 50 ‘Jazan refinery and terminal’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/oil/major-oil-processing-complexes/qatif-oil-processing-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fprojects%252Fjazan-refinery-and-terminal.baseajax.html. Last visited: 17 February 2013. 51 ‘A state-of-the-art refinery under construction in Jubail’, Total, available at: http://www.total.com/en/our-energies/oil/processing/projects-and-achievements/jubail-940870.html. Last visited: 18 February 2013. 52 ‘OPEC Annual Statistical Bulletin 2012’, op. cit. (endnote 1), p.36. 53 Ibid. 54 ‘Yanbu Aramco Sinopec Refining Company (YASREF)’, op. cit. (endnote 936). 55 ‘OPEC Annual Statistical Bulletin 2012’, op. cit. (endnote 1), p.36. 56 Ibid. 57 Ibid. 58 Ibid. 59 ‘Abqaiq’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/oil/major-oil-processing-complexes/abqaiq-oil-processing-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Foil%252Fmajor-oil-processing-complexes%252Fabqaiq-oil-processing-facility.baseajax.html. Last visited: 19 February 2013. 60 ‘Shaybah NGL’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/projects/yasref.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fprojects%252Fshaybah-ngl-facilities.baseajax.html. Last visited: 17 February 2013. 61 ‘Haradh gas plant’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/haradh-gas-plant.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fgas%252Fmajor-gas-processing-plants%252Fharadh-gas-plant.baseajax.html. Last visited: 19 February 2013. 62 ‘Haradh III’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/abqaiq-ngl-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Foil%252Fmajor-oil-processing-complexes%252Fharadh-oil-processing-facility.baseajax.html. Last visited: 17 February 2013. 63 ‘Hawiyah gas plant’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/hawiyah-gas-plant.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fgas%252Fmajor-gas-processing-plants%252Fhawiyah-gas-plant.baseajax.html Last visited: 19 February 2013. 64 ‘Hawiyah NGL recovery plant’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/hawiyah-ngl-recovery-plant.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fgas%252Fmajor-gas-processing-plants%252Fhawiyah-ngl-recovery-plant.baseajax.html. Last visited: 19 February 2013. 65 ‘Contracts & Projects: April 2013’, Process Engineering, 10 April 2013, available at: http://processengineering.theengineer.co.uk/contracts-and-projects-tracker-jan-2013/1000183.article. Last visited: 23 March 2013. 66 ‘SAUDI Energy – Saudi Arabia’, WN Network, 2 August 2005, available at: http://newszimbabwe.com/s/saudienergy_old1/. Last visited: 17 February 2013. 67 ‘Ju'aymah gas plant’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/abqaiq-ngl-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fgas%252Fmajor-gas-processing-plants%252Fju-aymah-gas-plant.baseajax.html. Last visited: 28 February 2013.

v

24

OIL

AN

D G

AS

RE

PO

RT

68 ‘Khurais’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/oil/major-oil-processing-complexes/khurais-oil-processing-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Foil%252Fmajor-oil-processing-complexes%252Fkhurais-oil-processing-facility.baseajax.html. Last visited: 17 February 2013. 69 Ibid. 70 ‘Khursaniyah’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/oil/major-oil-processing-complexes/khursaniyah-oil-processing-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Foil%252Fmajor-oil-processing-complexes%252Fkhursaniyah-oil-processing-facility.baseajax.html. Last visited: 17 February 2013. 71 Ibid. 72 Khursaniyah gas plant’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/khursanuyah-gas-plant.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fgas%252Fmajor-gas-processing-plants%252Fkhursanuyah-gas-plant.baseajax.html. Last visited: 17 February 2013. 73 ‘Nuayyim’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/oil/major-oil-processing-complexes/nuayyim-oil-processing-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Foil%252Fmajor-oil-processing-complexes%252Fnuayyim-oil-processing-facility.baseajax.html. Last visited: 17 February 2013. 74 Ibid. 75 ‘Al Qatiff City’, Asharqia Chamber, available at: http://www.chamber.org.sa/English/AboutKingdom/abouteasternregion/Pages/Qatif.aspx. Last visited: 19 February 2013. 76 ‘Shaybah’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/oil/major-oil-processing-complexes/shaybah-oil-processing-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Foil%252Fmajor-oil-processing-complexes%252Fshaybah-oil-processing-facility.baseajax.html. Last visited: 17 February 2013. 77 ‘Shedgum gas plant’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/shedgum-gas-plant.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fgas%252Fmajor-gas-processing-plants%252Fshedgum-gas-plant.baseajax.html. Last visited: 17 February 2013. 78 ‘'Uthmaniyah gas plan’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/uthmaniyah-gas-plant.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fgas%252Fmajor-gas-processing-plants%252Futhmaniyah-gas-plant.baseajax.html. Last visited: 17 February 2013. 79 ‘Yanbu' gas plant’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/yanbu--gas-plant.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fgas%252Fmajor-gas-processing-plants%252Fyanbu--gas-plant.baseajax.html. Last visited: 17 February 2013. 80 ‘Wasit gas program‘, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/gas/major-gas-processing-plants/abqaiq-ngl-facility.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fprojects%252Fwasit-gas-project.baseajax.html. Last visited: 18 January 2013. 81 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 82 ’Yanbu' terminals’, Saudi Aramco, available at: http://www.saudiaramco.com/en/home/our-operations/ports-and-terminals/facilities/ras-tanura-terminal.html#our-operations%257C%252Fen%252Fhome%252Four-operations%252Fports-and-terminals%252Ffacilities%252Fyanbu--terminals.baseajax.html. Last visited: 17 February 2013. 83 Ibid. 84 ‘Cargo Statistics’, Kingdom of Saudi Arabia – Ports Authority, available at: http://www.ports.gov.sa/English/SAPorts/Jeddah/Pages/CargoStatistics.aspx. Last visited: 18 February 2013. 85 ‘Saudi Arabia – Country Reports on Human Rights Practices’, US Department of State – Bureau of Democracy, Human Rights, and Labor, 25 February 2004, available at: http://www.state.gov/j/drl/rls/hrrpt/2003/27937.htm. Last visited: 17 February 2013. 86 ‘About Saudi Arabia’, Royal Embassy of Saudi Arabia – Washington, DC, available at: http://www.saudiembassy.net/about/country-information/government/. Last visited: 17 February 2013. 87 Ibid. 88 ‘All-male Saudi elections begin’, The Guardian, 10 February 2005, available at: http://www.guardian.co.uk/world/2005/feb/10/saudiarabia. Last visited: 17 February 2013. 89 ‘Saudi Arabia’s Political Prisoners: Towards a Third Decade of Silence – 1990 2000 2010’, Islamic Human Rights Commission (2011), p.3, available at: http://ihrc.org.uk/attachments/article/9867/Saudi%20Report%20A4-v04.pdf. Last visited: 8 January 2013. 90 ‘World Report 2012: Saudi Arabia’, Human Rights Watch, available at: http://www.hrw.org/world-report-2012/world-report-2012-saudi-arabia. Last visited: 17 February 2013. 91 ‘Saudi Arabia Risks Shiite Unrest in Wake of Bahrain Turmoil’, Bloomberg, 20 February 2011, available at: http://www.bloomberg.com/news/2011-02-17/saudi-arabia-risks-contagion-from-shiite-protests-roiling-neighbor-bahrain.html. Last visited: 17 February 2013. 92 ‘Saudi Arabia drafts in up to 10,000 troops ahead of protests’, The Telegraph, 5 March 2011, available at: http://www.telegraph.co.uk/news/worldnews/middleeast/saudiarabia/8363212/Saudi-Arabia-drafts-in-up-to-10000-troops-ahead-of-protests.html. Last visited: 17 February 2013. 93 ‘Saudi forces kill wanted man in eastern province clashes’, Al Arabiya News Channel, 28 September 2012, available at: http://english.alarabiya.net/articles/2012/09/28/240637.html. Last visited: 17 February 2013. 94 ‘Man shot dead as police clash with Shias in Saudi Arabia’, Daily Times, 29 December 2012, available at: http://www.dailytimes.com.pk/default.asp?page=2012%5C12%5C29%5Cstory_29-12-2012_pg7_6. Last visited: 17 February 2013. 95 ‘At a snail’s pace’, The Economist, 30 September 2010, available at: http://www.economist.com/node/17149062. Last visited: 19 February 2013. 96 ‘Saudi Arabia's king appoints women to Shura Council’, BBC News, 11 January 2013, available at: http://www.bbc.co.uk/news/world-middle-east-20986428. Last visited: 17 February 2013. See also: ‘Saudi king names women to advisory council’, Al Jazeera, 12 January 2013, available at: http://www.aljazeera.com/news/middleeast/2013/01/2013111234624261971.html. Last visited: 17 February 2013. 97 ‘Saudi rules women must remove their veils for security checks’, The National, 7 November 2012, available at: http://www.thenational.ae/news/world/middle-east/saudi-rules-women-must-remove-their-veils-for-security-checks. Last visited: 8 January 2013. 98 ‘Saudi king: Women can vote in 2015 local elections’, USA Today, 26 September 2012, available at: http://usatoday30.usatoday.com/news/world/story/2011-09-25/saudi-women-vote/50543882/1. Last visited: 17 February 2013.

v

25

OIL

AN

D G

AS

RE

PO

RT

99 ‘Saudi king health fears calmed after back operation’, BBC News, 28 November 2012, available at: http://www.bbc.co.uk/news/world-middle-east-20525956. Last visited: 17 February 2013. 100 ‘Saudi succession raises economic challenges’, BBC News, 26 June 2012, available at: http://www.bbc.co.uk/news/world-middle-east-18591234. Last visited: 17 February 2013. 101 ‘The New York Times – Saudi Arabia’, The New York Times, available at: http://topics.nytimes.com/top/news/international/countriesandterritories/saudiarabia/index.html. Last visited: 8 January 2013. 102 ‘Saudi population to hit 30m in 2017, expat growth to slow’, ArabianBusiness.com, 12 March 2011, available at: http://www.arabianbusiness.com/saudi-population-hit-30m-in-2017-expat-growth-slow-386196.html. Last visited: 17 February 2013. 103 Okruhlik, Gwenn, ‘Rentier Wealth, Unruly Law, and the Rise of Opposition: The Political Economy of Oil States’, Comparative Politics, (31.3, 1999), pp.295-315. See also: Ross. Michael L., ‘Does Oil Hinder Democracy?’, World Politics (53, April 2001), pp.325-61, available at: http://www.cmsconsultores.com/wp-content/uploads/2012/03/doesoil.pdf. Last visited: 18 February 2013. 104 ‘Saudi public sector hit by corruption’, Emirates 24/7, 17 April 2011, available at: http://www.emirates247.com/business/saudi-public-sector-hit-by-corruption-2011-04-17-1.381835. Last visited: 17 February 2013. 105 ‘Corruption Perceptions Index 2012’, op. cit. (endnote 22). 106 ‘Countries at the Crossroads – Saudi Arabia’, Freedom House, available at: http://www.freedomhouse.org/report/countries-crossroads/2012/saudi-arabia. Last visited: 17 February 2013. 107 ‘Saudi Arabia Country Profile’, Business Anti-Corruption Portal, available at: http://www.business-anti-corruption.com/country-profiles/middle-east-north-africa/saudi-arabia/show-all/. Last visited: 7 January 2013. 108 ‘Countries at the Crossroads – Saudi Arabia’, op. cit. (endnote 1027). 109 ‘Saudi Arabia Economy Profile 2013’, op. cit. (endnote 926). 110 ‘Saudi Arabia facts and figures’, op. cit. (endnote 927). 111 ‘Saudi Arabia Economy Profile 2013’, op. cit. (endnote 926). 112 ‘Saudi Arabia facts and figures’, op. cit. (endnote 927). 113 ‘Out of the comfort zone’, The Economist, 3 May 2012, available at: http://www.economist.com/node/21548973. Last visited: 8 January 2013. 114 Ibid. 115 ‘Objectives’, Industrial Clusters, available at: http://www.ic.gov.sa/en/about/objectives/. Last visited: 19 February 2013.116 ‘Robust growth seen for Saudi non-oil sector’, Trade Arabia, 27 November 2012, available at: http://www.tradearabia.com/news/BANK_226288.html. Last visited: 8 January 2013. 117 ‘Saudi Market Opens Up, but Gradually’, The New York Times, 21 March 2012, available at: http://www.nytimes.com/2012/03/22/world/middleeast/22iht-m22-saudi-bourse.html?pagewanted=all&_r=0. Last visited: 8 January 2013. 118 ‘Saudi Arabia Country Profile’, op. cit. (endnote 1028). 119 ‘Saudi Arabia Economy Profile 2013’, op. cit. (endnote 926). 120 ‘International tax – Saudi Arabia Highlights 2012’, Deloitte, (2012), available at: http://www.deloitte.com/assets/Dcom-Global/Local%20Assets/Documents/Tax/Taxation%20and%20Investment%20Guides/2012/dttl_tax_highlight_2012_SaudiArabia.pdf. Last visited: 11 February 2013. 121 Ibid. 122 Ibid. 123 Ibid. 124 Ibid. 125 ‘Profile: Al-Qaeda in the Arabian Peninsula’, BBC News, 11 September 2012, available at: http://www.bbc.co.uk/news/world-middle-east-11483095. Last visited: 19 February 2013. 126 Ibid. 127 ‘Saudis 'foil oil facility attack'’, BBC News, 24 February 2006, available at: http://news.bbc.co.uk/1/hi/world/middle_east/4747488.stm. Last visited: 17 February 2013. 128 ‘Saudi Oil Facilities: Al-Qaeda's Next Target?’, The Jamestown Foundation, 23 February 2006, available at: http://www.jamestown.org/programs/gta/single/?tx_ttnews%5Btt_news%5D=685&tx_ttnews%5BbackPid%5D=181&no_cache=1. Last visited: 19 February 2013. 129 ‘Saudi Security Tightens Around World’s Biggest Crude Facility’, BloombergBusinessweek, 14 May 2012, available at: http://www.businessweek.com/news/2012-05-14/saudi-security-tightens-around-world-s-biggest-crude-facility. Last visited: 7 January 2013. See also: ‘Saudi Arabia Deploys Specialized Force to Protect Oil Facilities’, Bloomberg, 10 January 2011, available at: http://www.bloomberg.com/news/2011-01-10/saudi-arabia-deploys-specialized-force-to-protect-oil-facilities.html. Last visited: 7 January 2013. 130 ‘Confident outlook for Saudi Arabia oil’, The National, 25 May 2011, available at: http://www.thenational.ae/featured-content/channel-page/business/middle-article-list/confident-outlook-for-saudi-arabia-oil. Last visited: 8 January 2013. 131 ‘Out of the comfort zone’, op. cit. (endnote 1034). 132 ‘Saudi Arabia’s al-Qaeda challenge’, BBC News, 9 September 2012, available at: http://www.bbc.co.uk/news/world-middle-east-19517476. Last visited: 8 January 2013. 133 ‘Saudi Arabia’s Shiite escalation’, ForeignPolicy.com, 10 July 2012, available at: http://mideast.foreignpolicy.com/posts/2012/07/10/sable_rattling_in_the_gulf. Last visited: 15 February 2013. 134 ‘US Suspects Iran Was Behind a Wave of Cyberattacks’, The New York Times, 13 October 2012, available at: http://www.nytimes.com/2012/10/14/world/middleeast/us-suspects-iranians-were-behind-a-wave-of-cyberattacks.html?pagewanted=all&_r=0. Last visited18 February 2013. 135 Ibid. 136 ‘Saudi Arabia – Overview/Data’, op. cit. (endnote 68). 137 ‘Confident outlook for Saudi Arabia oil’, op. cit. (endnote 1051).