- 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%
EGPC
EGPC Launches Internal Carbon‑Tracking Platform for Oil & Gas Sector
The Egyptian General Petroleum Corporation (EGPC) has launched a digital platform to monitor the sector's carbon footprint, underscoring its commitment to digital transformation and environmental sustainability. The platform is an internal carbon‑tracking engine for oil and gas firms; it is restricted to sector use and not publicly accessible.
Iraq
Iraq Announces New Oil Discovery at Al-Qarnain Block
Iraq announced the discovery of a new oil field in Najaf province, close to the Saudi border in the country’s southwest. The field, discovered by China-based Zhenhua Oil, holds estimated reserves of 8.83 billion barrels (bbbl). Current output is reported at 3,248 barrels per day (bbl/d) of light crude oil, Iraqi News reported.
Hormuz Bypass
ADNOC Utilizes Dark Shipping Tactics to Bypass Hormuz Blockade
The Abu Dhabi National Oil Co. (ADNOC) exported at least 6 million barrels (mmbbl) of crude oil through the Strait of Hormuz in April, using dark shipping tactics to evade Iranian attacks, according to Reuters. This maneuver allowed the United Arab Emirates (UAE) to move significant volumes of crude that had been bottled up in the Gulf due to the ongoing regional conflict, according to industry sources and satellite data from the global trade intelligence firm Kpler and the satellite intelligence firm SynMax.
Listing
Madbouly: IOCs Commit to Invest $19Bn Over Three Years
Egypt is accelerating efforts to strengthen its energy sector through new investments, discoveries, and market reforms. Egypt has secured investment commitments exceeding $19 billion from international partners over the next three years, Prime Minister Mostafa Madbouly said during the cabinet's weekly meeting. He broke down the figure to: $8 billion from Italy’s Eni, $5 billion from British Petroleum(bp), $2 billion from the UAE’s Arcius Energy, and $4 billion from US-based Apache.
Performance
Egypt Gas Records 20% Surge in 2025 Revenues
Egypt Gas recorded a net profit after tax of EGP 321.8 million in 2025, marking 11% increase from 2024. This came on the back of a 20 % increase in the company's revenues during the same period to stand at EGP 9 billion. The company increased the value of its total assets to EGP 19.46 billion, from EGP 14.35 billion in 2024. Moreover, its share price jumped by 77 % to EGP 42 in March 2026.
North Alexandria Concession
Egypt, bp, Harbour Sign Deal to Boost Mediterranean Output
The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) have signed a Heads of Agreement (HoA) with both British Petroleum (bp) and Harbour Energy to establish the executive framework for developing oil and gas reserves in the North King Mariout area and the El Arish field in the Mediterranean.
Lebanon
TGS to Rehabilitate Lebanese Natural Gas Network
Egypt's Technical Gas Services Company (TGS) has secured a contract to repair and rehabilitate Lebanon's natural gas infrastructure, marking a significant export of Egyptian technical expertise to the Levant. The project, signed in the attendance of Prime Minister Mostafa Madbouly, targets the restoration of a 30-kilometer, 24-inch-diameter pipeline and its associated facilities to stabilize Lebanon’s volatile energy supply, according to a statement by the Cabinet.
Sonatrach
Algeria Grants PETROJET $1.1Bn Contract for Hassi Bir Rkaiz Field Development
The state-owned Petroleum Projects and Technical Consultations Company (PETROJET), has signed a general contractor agreement for Phase Two of Algeria's Hassi Bir Rkaiz field development project. The contract, valued at around $1.1 billion, covers works in the El Oued–Ouargla region, located about 130 kilometers east of Hassi Messaoud in southern Algeria.
