- Crude Oil (WTI) 72.07 USD/bbl +1.27%
- Crude Oil (Brent) 76.00 USD/bbl +1.40%
- NYMEX Natural Gas 2.32 USD/MMBtu +6.14%
- OPEC Basket Price 76.06 USD/bbl -0.41%
Dana Gas
Dana Gas Signs MoU with Syria’s SPC to Redevelop Natural Gas Fields
UAE Dana Gas has signed a Memorandum of Understanding (MoU) with the Syrian Petroleum Company (SPC) for the redevelopment and expansion of several natural gas fields across central Syria, including Abu Rabah gas field, one of the largest gas discoveries in Syria.
Minister of Petroleum and Mineral Resources
Egypt, India Discuss Cooperation in Petrochemicals, Mining
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Jagat Prakash Nadda, India’s Minister of Health, Chemicals, and Fertilizers; Suresh K. Reddy, India’s Ambassador to Egypt; and a delegation of Indian company representatives to discuss cooperation and joint investments in the petrochemicals and mining industries. They agreed to form a joint working group to explore ways to deepen trade and industrial cooperation between Egypt and India.
General Authority for Investment and Free Zones (GAFI)
Destiny Commits $210 Mn Investment to Egypt’s Green Hydrogen, Ammonia Output
Singapore-based Destiny Energy plans to invest $210 million to build green hydrogen and green ammonia facilities in SCZONE, aiming to help Egypt meet EU's Carbon Border Adjustment Mechanism (CBAM) requirements.
Taqa Arabia
TAQA Arabia records 40% Surge in Q3 Revenues
Taqa Arabia Third Quarter (Q3) consolidated revenue leaped 40% to EGP 18 billion. The company's board also appointed former Petroleum Minister Tarek El Molla as Board Observer.
Qalaa Holding
Qalaa Holding Eyes Debt Reduction, Investment in Subsidiaries
Qalaa Holding studies issuing a $200 million convertible bond to pay down debt and inject capital into subsidiaries. The board also approved studying the the Initial Public Offering (IPO) of five units, including Dina Farms.
Renewables
Global Energy Demand Slows as Renewables Surge, Egypt to Bring First Nuclear Plant Online by 2030: IEA
Global energy demand is expected to grow at its slowest pace in two decades as renewable power expands rapidly and fossil fuel consumption peaks before 2030, the International Energy Agency (IEA) said in its recently released World Energy Outlook 2025. Egypt features prominently in the report, with the IEA noting that its El Dabaa nuclear power plant, North Africa’s first, is due to reach full capacity by 2030. The project underscores the push to strengthen Egypt’s role as a regional energy hub and reduce reliance on fossil fuels.
nine months of 2025
Egypt Gas Posts 25% Hike in Net Profit for 9m 2025
Egypt Gas generated a net profit of EGP 225.2 million for the nine-month ending September 30, 2025, up from EGP 180.6 million during the same period in 2024, according to the company’s release to the Egyptian Stock Exchange.
TotalEnergies, QatarEnergy, Petronas agree JV for 1,788 km² Guyana offshore block
TotalEnergies and its partners QatarEnergy and Petronas have signed a production sharing contract for Block S4 with Guyana’s Ministry of National Resources, following the block’s 2023 award in the Guyana 2022 Licensing Round. TotalEnergies will be the operator of the project in addition to holding a 40 % stake in it. Its partners are Qatar Energy and Petronas, with stakes of 35% and 25% respectively.
