- Crude Oil (WTI) 85.34 USD/bbl -1.50%
- Crude Oil (Brent) 92.61 USD/bbl -1.06%
- NYMEX Natural Gas 2.78 USD/MMBtu 0.36%
- OPEC Basket Price 94.91 USD/bbl 2.23%
Egypt
MRMIA Sets August Deadlines for Gold, Silver Bids
The Mineral Resources and Mining Industries Authority (MRMIA) has announced that bidding on several mining blocks will close between August 25–28, 2026, marking the latest phase in Egypt’s push to attract investment into its mineral sector. The deadlines cover silver and gold-bearing blocks, with extensions possible if dates coincide with public holidays.
Perenco Egypt
NOSPCO Maintains Gas Output, Plans 3 Wells in 2027
North Sinai Petroleum Company maintained average gas production at 53 mmcf/d in the past fiscal year and is preparing to drill three wells in Q1 2027, expected to add around 30 mmcf/d to production.
Energean
Abu Qir Petroleum Maintains Production at 27,900 boe/d in FY 2025/26
Abu Qir Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and the Greek Company Energean, maintained average production at around 27,900 barrels of oil equivalent per day (boe/d) during fiscal year (FY) 2025/26, with production remaining stable throughout the year following operational debottlenecking and production optimization efforts, according to the company’s general assembly results.
China Sinopec
Sinopec Reports 19.3% H1 Profit Increase Despite Lower Refining Volumes
Sinopec, China’s state-owned oil and gas giant, is expanding its energy operations amid shifting domestic demand and global market uncertainty.
Chemical assets
Shell’s US Chemical Assets Attract Interest From ExxonMobil, LyondellBasell
Shell is considering selling its US chemicals business, valued at up to $8 billion, with ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum’s chemicals arm reportedly interested.
Drilling Program
Egypt, ADNOC Drilling Discuss Expanded Oil and Gas Drilling Program
Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, met with Abdullah Ateya Al Messabi, CEO of ADNOC Drilling, to discuss strategic partnerships and the company’s participation in Egypt’s expanded onshore and offshore well-drilling program to support higher oil and gas production.
Morgan Staney
Egypt’s Oil and Gas FDI Pipeline Boosts External Resilience: Morgan Stanley
Egypt’s external vulnerability to higher oil prices is materially lower than previously assumed, with record remittance inflows and greater exchange-rate flexibility providing a crucial cushion against external shocks, noted a research report by the American investment bank Morgan Stanley. Morgan Stanley noted that the broader impact of the Iran conflict on tourism and remittances, previously projected by the bank, has not materialised, as the conflict has remained largely contained. Remittances remained historically high throughout FY2026, with estimates that it would mount to $46 billion in FY2026, up from $36 billion in FY2025. This encouraged the bank to raise its FY2027 forecast to $43 billion.
Suez oil processing company
SOPC Refines1.4 mt of Crude in FY 2025/2026
Suez Oil Processing Company (SOPC) refined nearly 1.4 million tons (mt) of crude to provide mazut, asphalt, Liquefied Petroleum Gas (LPG), diesel, and gasoline, said Chairman Mohamed Shehata El-Baz during the general assembly meeting convened to review the company's work during the fiscal year (FY) of 2025/2026. SOPC, wholly owned by the Egyptian General Petroleum Corporation (EGPC), also supplied marine bunkering fuels, including diesel and mazut, while providing feedstock to Alexandria Mineral Oils Company (AMOC) and Alexandria Specialty Petroleum Products Company (ASPPC), helping maximize the added value of petroleum products.
