- Crude Oil (WTI) 100.71 USD/bbl -2.12%
- Crude Oil (Brent) 110.05 USD/bbl -2.95%
- NYMEX Natural Gas 2.93 USD/MMBtu 1.03%
- OPEC Basket Price 112.85 USD/bbl 0.0%
Malaysia
TotalEnergies to Acquire 30% Operated Stake in Malaysian Gas Fields
French energy company TotalEnergies has signed agreements to acquire a 30% operated interest in the Lang Lebah and B14 offshore gas fields in Malaysia from PETRONAS Carigali, PTTEP and KUFPEC, the company said on November 2.
ADNOC
ADNOC to Invest in 345 mmcf/d Ruwais Diyab Natural Gas Project
UAE energy giant Abu Dhabi National Oil Company (ADNOC) has approved investing in the Ruwais Diyab unconventional gas development in Abu Dhabi, targeting initial production of 345 million standard cubic feet per day of gas (mmcf/d) of raw gas from 2029, the company said on November 2.
German
Egypt, Germany Mull Debt Swap to Finance Power Projects
Egypt and Germany discussed debt swap agreements to finance the construction of transformer stations and electricity interconnection lines. The projects aim to strengthen Egypt’s national electricity grid under the Nexus of Water, Food and Energy (NWFE) program, according to the Ministry of Electricity and Renewable Energy. The discussions took place during a meeting between Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Stefan Rouenhoff, Parliamentary State Secretary at Germany’s Federal Ministry for Economic Affairs and Energy, accompanied by a delegation. The meeting focused on strengthening the bilateral partnership and expanding cooperation in energy policy, renewable energy, infrastructure development, and the national electricity grid.
Egypt
Egypt to Extend ACWA Power MoU, Allocates Land for ACURE Green Ammonia Project
Egypt's National Council for Green Hydrogen has approved a one-year extension of the memorandum of understanding (MoU) with Saudi Arabia's ACWA Power for its planned East Nile project, targeting annual production of 66,000 tons of green hydrogen and 500,000 tons of green ammonia. The council also approved allocating a 12-square-kilometer (km²) plot in West Zaafarana to India's ACURE to develop a 600-megawatt (MW) solar power plant supporting the pilot phase of its green ammonia project.
G42
ADNOC Partners with OpenAI and G42 to Expand AI Use Across Operations
ADNOC partners with OpenAI and G42 to deploy advanced AI solutions for integrated field planning, production optimization, and commercial decision-making.
Venture Global
Shell Receives First Commercial LNG Cargo From US’ Venture Global
British energy giant Shell has received the first liquefied natural gas (LNG) cargo under a long-term sales contract from US-based Venture Global’s Plaquemines export facility in Louisiana, following the start of commercial operations at the plant’s first phase, Venture Global said on press release published on November 1.
EGPC
Egypt Extends International Oil, Gas Bid Round Deadline
The Egyptian General Petroleum Corporation (EGPC) has extended the deadline for its 2026 international licensing round following requests from interested companies, the Egypt Upstream Gateway (EUG) said on November 1.
Financial Results
AMOC Delivers 2.5 fold Profit Growth in 9M 2026
Alexandria Mineral Oils Company (AMOC) recorded a 154% increase in consolidated net profit after tax, reaching EGP 3.47 billion in the first nine months of 2026, according to a company disclosure to the Egyptian Exchange (EGX). The company recorded a 41% YoY increase in consolidated sales to EGP 43.17 billion for the nine months. On a standalone basis, AMOC's net profit after tax nearly tripled to EGP 3 billion, up from EGP 1.03 billion in the first nine months of 2025. Standalone sales revenue also increased by 41% YoY to EGP 42.32 billion in the nine months.
