- Crude Oil (WTI) 83.44 USD/bbl 0.24%
- Crude Oil (Brent) 88.29 USD/bbl 0.06%
- NYMEX Natural Gas 2.89 USD/MMBtu 0.70%
- OPEC Basket Price 87.31 USD/bbl 1.06%
Petrojet
TAQA Arabia Enters Jordan With 14-Km Gas Pipeline Under $70 Mn Industrial Projects
TAQA Arabia has entered the Jordanian market by initiating a 14-kilometer natural gas pipeline project for Al-Rawdah Industrial City, part of two industrial-city gas projects backed by $70 million from the Abu Dhabi Fund for Development (ADFD).
investment
Australia's Velox Eyes Mining Opportunities in Egypt
The Australian mining company, Velox Energy Materials, is looking to enter the Egyptian market and targets mining areas located within the Arabian-Nubian Shield, as it explores new investment opportunities in the sector, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The plans were discussed during a meeting between Minister of Petroleum and Mineral Resources Karim Badawi and Velox Energy Materials CEO Nicole Morecombe in New Alamein, attended by Khaled Mortagy, Managing Partner and Chairman of Capital Limited, and Vincent Algar, a Velox board member.
Iran
Strait of Hormuz Ship Traffic Remains Well Below Average Amid Ongoing Regional Tensions
Ship traffic through the Strait of Hormuz remained significantly below normal levels on August 25, with only five commodity vessels crossing the key energy chokepoint, according to preliminary data from shipping tracker Kpler cited by Reuters. The number of vessels was well below the 10-day average of 15 crossings. Two liquefied petroleum gas (LPG) tankers and one bitumen tanker exited the Gulf, while two empty product tankers entered from the Gulf of Oman.
Rules violations
Indian Refiners, Global Energy Major Halt Use of Iran-Blacklisted Ships
Iran’s blacklist of 45 vessels has prompted at least three Indian refiners and a global energy major to avoid the ships, including for ship-to-ship transfers, amid rising security risks in the Strait of Hormuz.
Prime Minister Mostafa Madbouly
Egypt's President Reviews 5-Year Plan to Double Egypt's Oil Output
President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly and Karim Badawi, Minister of Petroleum and Mineral Resources, in New Alamein to review Egypt’s 5-year plan for crude oil and natural gas production.
New Alamein
El-Sisi, Eni Discuss $8.5 Bn Egypt Investments
President Abdel Fattah El-Sisi met with Italian Eni CEO Claudio Descalzi in New Alamein to discuss the company’s $8.5 billion investments in Egypt and plans to expand exploration and production activities.
Drexel
Proger, Drexel Advance $278 Mn Bioethanol Project in Egypt
Mohamed Farid, Minister of Investment and Foreign Trade, met with representatives of Italian companies Proger and Drexel to review a planned $278 million project to produce second-generation bioethanol from sugarcane waste in Egypt.
Natural Gas
Shell Takes FID on Phase 12a Development in Egypt’s WDDM Concession
Shell and its partners have taken a Final Investment Decision (FID) to develop Phase 12a in Egypt’s West Delta Deep Marine concession, comprising three deepwater subsea wells with first gas expected in 2028.
