- Crude Oil (WTI) 89.42 USD/bbl -0.73%
- Crude Oil (Brent) 99.93 USD/bbl -0.85%
- NYMEX Natural Gas 3.11 USD/MMBtu 1.30%
- OPEC Basket Price 111.72 USD/bbl 1.47%
Trump
Trump Expands Access to Tax-Exempt Diesel
The move comes as the Trump administration seeks to increase domestic diesel availability amid elevated fuel prices. Trump has also backed a potential ban on US diesel exports, a proposal opposed by the European Union, which warned that restricting US diesel shipments could affect European fuel supplies and prices.
supplies
Petroleum Ministry Charts Strategy to Boost Output, Secure Supplies
Karim Badawi, Minister of Petroleum and Mineral Resources, reviewed plans to increase domestic oil and gas production, secure petroleum product supplies, and improve operational efficiency during a meeting with the executive council of the Egyptian General Petroleum Corporation (EGPC). The meeting, attended by EGPC CEO Salah Abdel Kerim and the corporation’s deputy CEOs, covered production and exploration plans with investment partners, project execution rates, petroleum product supplies, crude oil refining activities, and the efficiency of product transportation and distribution networks, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Saudi Arabia
Gulf Oil Flows Recover to 81% of Pre-War Levels in September
Gulf oil flows excluding Iran recovered to more than 81% of pre-war levels in September, supported by a sharp rebound in Saudi Arabian exports despite continued attacks on regional energy infrastructure and shipping. Flows of crude, condensate and refined fuels, including liquefied petroleum gas (LPG), from Saudi Arabia, Kuwait, Qatar, Oman, Bahrain, Iraq and the UAE averaged 19.2 million barrels per day (mmbbl/d) in September.
cargoes
Qatar LNG Cargoes Resume Strait of Hormuz Transits
Qatar’s LNG shipments through the Strait of Hormuz have increased despite heightened security risks linked to the ongoing U.S.-Iran conflict.
Kirkuk Oil Field
bp Reaffirms Middle East Commitment Amid Restructuring
British Petroleum (bp) has no intention of shying away from the Middle East, CEO Meg O'Neill told the Energy Intelligence conference in London on Monday. O'Neill added that bp is working with the Iraqi government to understand options for new export routes, including a northern route, as Reuters reported.
EGAS
Chevron, EGAS Sign $88 Mn Lotus Offshore Exploration Agreement
Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the signing of an $88 million minimum investment agreement between the Egyptian Natural Gas Holding Company (EGAS) and Chevron for oil and gas exploration in the Lotus offshore area in the Mediterranean.
Aramco
Aramco CEO Says Global Oil Supply Buffer Is ‘Scarily Thin’
Global oil stockpiles have fallen to critically low levels, leaving markets exposed to further supply pressure unless the Strait of Hormuz fully reopens, Saudi Aramco CEO Amin Nasser said.
energy infrastructure
The Joint Ministerial Monitoring Committee Urges Protection of Energy Infrastructure
The Joint Ministerial Monitoring Committee (JMMC) comprises Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela, called for protecting international maritime routes and energy infrastructure to safeguard global energy supply security and support market stability.
