- Crude Oil (WTI) 99.53 USD/bbl -1.57%
- Crude Oil (Brent) 103.37 USD/bbl -0.67%
- NYMEX Natural Gas 2.91 USD/MMBtu 1.75%
- OPEC Basket Price 119.20 USD/bbl -3.90%
Egyptian General Petroleum Corporation (EGPC)
EGPC Records 63 Discoveries, Refines 28 Mn Tons of Crude in FY 2025/26
The Egyptian General Petroleum Corporation (EGPC) recorded 63 new oil and gas discoveries and refined around 28 million tons of crude during fiscal year (FY) 2025/26, as it worked to raise domestic production and meet local fuel demand.
Target
Egypt Targets 330 mmcf/d Increase in Oil and Gas Production by Year-End
Egypt targets an additional 330 MMcf/d of natural gas production by year-end as it accelerates field development, exploration, and infrastructure upgrades to strengthen energy security and reduce imports.
petroleum sector
MoPMR Signs Six Oil Exploration Deals, Expands Refining Projects Across Upper Egypt
The Ministry of Petroleum and Mineral Resources (MoPMR) has signed six preliminary agreements to expand exploration activities in Upper Egypt across the North Baraka, Red Sea, Khart, South Baraka, Southeast Ras El Ush, and East Zeit areas. Exploration activities in these areas are scheduled to begin in 2027, with potential production estimated at between 5,000 and 11,000 barrels of crude oil per day (bbl/d) by 2030, according to a report submitted by Minister of Petroleum and Mineral Resources Karim Badawi and reviewed by Prime Minister Mostafa Madbouly. The report detailed MoPMR's efforts to expand petroleum sector activities in Upper Egypt as a key driver of economic development. It pointed to increased exploration, production and investment, enhanced refining capacity, the expansion of natural gas connections, and the sector’s strengthened contributions to community development projects. .
Türkiye
Iraq Moves Southern Crude by Truck to Boost Türkiye Exports
Iraq has launched a pilot operation to transport crude oil from its southern fields by truck to a storage facility in Kirkuk, seeking to increase supplies to the northern export system and boost shipments through Türkiye’s Ceyhan port. The trial, conducted from September 13 for two days, moved slightly more than 6 million liters of crude, equivalent to about 38,000 barrels, using 209 tanker trucks, each with a capacity of 30,000 liters.
prices
Asian LNG Demand to Fall for Second Year Amid Gulf Supply Disruptions
Asian LNG demand is expected to decline for a second consecutive year as Gulf supply disruptions push prices higher, with Northeast Asia accounting for most of the decline.
Zohr field
EUG Highlights West Zohr Block Potential Before December Deadline
The Egypt Upstream Gateway (EUG) has provided an overview of West Zohr Offshore block. The closing date is on December 14, 2026. The block comes as part of the 14 blocks included in the Ministry of Petroleum and Mineral Resources (MoPMR)’s 2026 international bid round, launched on August 11.
EGAS
EGAS to Drill 16 Wells, Targeting 6 Tcf in FY26/27
EGAS added 28 new wells to Egypt’s gas production map and recorded nine new discoveries during FY 2025/2026. As for FY 2026/27, the company identified 16 new gas exploration opportunities, comprising seven offshore and nine onshore prospects, with plans to drill 16 wells targeting estimated resources of around 6 tcf.
Oman
Saudi Arabia Reroutes Crude Exports After East-West Pipeline Attack
Saudi Arabia is rerouting crude exports and offering additional volumes to Asian buyers through alternative shipping arrangements after drone attacks disrupted its key East-West pipeline and halted loadings at Yanbu.
