- 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%
women
MoPMR Celebrates Women’s Role in Driving Egypt’s Energy Sector
Ministry of Petroleum and Mineral Resources (MoPMR) celebrated the growing role of women in the energy industry during an event titled “Women… Energy Driving the Future,” attended by Karim Badawi, Minister of Petroleum and Mineral Resources, senior officials, parliamentarians, and industry leaders. The event highlighted the ministry’s ongoing commitment to empowering women as a key driver of progress across the petroleum, gas, mining, and petrochemicals sectors, according to a statement by MoPMR.
Minister of Petroleum and Mineral Resources Karim Badawi
Badawi: No Power Outages During Summer
Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed that preparations for Summer 2026 are progressing in full coordination with the Ministry of Electricity and Renewable Energy to secure the fuel and natural gas supplies for power plants, ensuring a stable electricity supply without outages, according to a release by the ministry.
IEA
IEA Warns of Oil Supply Deficit in 2026
Global oil supply is expected to fall short of demand this year, as the war in Iran severely disrupts Middle East production, Reuters reported citing the International Energy Agency’s (IEA) monthly oil market report. This comes as global supply in 2026 is projected to fall short of demand by 1.78 million barrels per day (b/d), overturning last month’s forecast of a 410,000 b/d surplus and December’s estimate of nearly 4 million b/d in excess supply.
Egypt
TotalEnergies to Resume Gas Exploration in Egypt, Eyes Western Mediterranean
The French energy major, TotalEnergies, signed a memorandum of understanding (MoU) with the Egyptian Natural Gas Holding Company (EGAS) to cooperate on natural gas exploration in the Western Mediterranean. The agreement, according to a Cabinet statement, covers a large offshore area and aims to advance early-stage exploration in one of Egypt’s most promising frontier regions. Karim Badawi, Minister of Petroleum and Mineral Resources,welcomed TotalEnergies’ return to gas exploration in Egypt, describing it as a positive outcome of the ministry’s strategy to create an attractive investment climate through reforms, incentives, and settling dues owed to partners.
UAE
ADNOC Drilling to Boost UAE’s Oil Production Capacity
The Abu Dhabi-listed ADNOC Drilling Company is ready to boost the United Arab Emirates’ (UAE) oil production capacity beyond the planned 5 million barrels per day (b/d) by 2027, should official approval be granted, the company’s CFO, Youssef Salem, told Reuters.
meeting
Egypt, Norway Agree on Five-Year Energy Cooperation Plan
Egypt and Norway have agreed to work on a five-year strategic cooperation plan covering green energy, carbon reduction, and natural gas exploration. This came during a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources and Erik Husem, the Norwegian Ambassador, to bolster strategic partnership in the energy sector
TotalEnergies
TotalEnergies, QatarEnergy, ConocoPhillips to Evaluate Offshore Syria Block
TotalEnergies, alongside partners QatarEnergy and ConocoPhillips, has signed a Memorandum of Understanding (MoU) with the Syrian Petroleum Company (SPC) to evaluate Block 3 offshore Syria in the Mediterranean Sea.
Egypt
McKinsey Eyes Expansion in Egypt’s Oil and Gas Market
Minister of Petroleum and Mineral Resources, Karim Badawi, met a delegation from McKinsey & Company to explore potential avenues of collaboration between Egypt’s oil and gas sector and the global consulting firm. The meeting reflects McKinsey’s interest in partnering with Egypt’s energy sector, which is witnessing rapid positive developments and boasts strong competitive advantages, particularly its advanced infrastructure, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
