- Crude Oil (WTI) 89.31 USD/bbl -4.95%
- Crude Oil (Brent) 96.61 USD/bbl -4.63%
- NYMEX Natural Gas 2.94 USD/MMBtu 0.68%
- OPEC Basket Price 96.87 USD/bbl -3.02%
Sahara Emirates
Egypt Gas Targets $50 Mn in UAE Onshore, Offshore Project Opportunities
Egypt Gas, one of the largest Egyptian gas distribution companies, has signed three memoranda of understanding (MoUs) with SAFEEN Subsea and Subsea Services LCC, PEMMI UAE, and Sahara Emirates, to implement onshore and offshore projects in the UAE The agreements, signed during the Abu Dhabi International Conference and Exhibition (ADIPEC), aim to explore, develop, and implement investment opportunities and future projects in oil, gas, energy, infrastructure, and onshore and offshore activities across the UAE and the targeted regional markets, said Egypt Gas in a statement.
UAE
Egypt Gas, Cargas Eye UAE Gas Expansion
Egypt Gas and Natural Gas Vehicles Company (Cargas) have signed a memorandum of understanding (MoU) with UAE United Eastern Group to convert vehicles into natural gas as well as to explore the development of natural gas transportation and delivery projects using virtual pipeline systems. The agreement aligns with the petroleum ministry’s efforts to support the overseas expansion of petroleum sector companies and strengthen their presence in regional and international markets
Appointments
Badawi Announces New MRMIA Appointments
Minister of Petroleum and Mineral Resources, Karim Badawi, issued new appointments in the Mineral Resources and Mining Industries Authority (MRMIA) leadership. The leadership changes include the appointment of Ahmed Saad Fatouh as MRMIA Deputy Chairman for Mining Industries. Meanwhile, Ehab Anwar Hassan was appointed as MRMIA Deputy Chairman for Mineral Resources.
Appointments
Amro Ismail Elsharkawi Named New MRMIA Chairman
Amro Ismail Elsharkawi, Baker Hughes' Regional Manager for Egypt, has been appointed chairman of the Mineral Resources and Mining Industries Authority (MRMIA). He holds a bachelor’s degree in mining, Petroleum, and Metallurgical Engineering from Suez Canal University, earned in 1999. Since joining Baker Hughes, a Houston-based energy Technology Firm, in 2002, Elsharkawi has progressed through a range of technical and leadership positions across Egypt and the Middle East and Africa (MEA), building extensive experience in the energy sector.
Oil Exports
JPMorgan: Global Oil Market Returns to Surplus as Middle East Exports Recover
Global oil markets returned to surplus as Middle East crude exports recovered from conflict-related disruptions, while HSBC raised its Saudi Aramco production forecasts amid improving supply conditions.
AlexFert
Valmore Holding Confirms AlexFert Operations Continue Amid Gas Supply Cuts
Valmore Holding has reported that its subsidiary, Alexandria Fertilizers Company (AlexFert), continues its operational and production activities using the currently available natural gas supply quantities, the company said in a disclosure to the Egyptian Exchange (EGX).
Minister of Petroleum and Mineral Resources
Egypt Advances Adoption of Hydraulic Fracturing, Horizontal Drilling Tech
Egypt is expanding the application of hydraulic fracturing and horizontal drilling technologies, as they are among the key technological pillars of the petroleum sector’s five-year plan, said Karim Badawi, Minister of Petroleum and Mineral Resources, according to a ministry statement on November 4.
International Energy Agency
IEA: Global LNG Supply to Fall 3% YoY in 2026 on Plummeted Middle East Supplies
Global liquefied natural gas (LNG) supply is forecast to fall by almost 20 billion cubic metres (bcm), or 3% year-on-year (YoY), in 2026, marking the steepest annual decline on record as disruptions to shipments through the Strait of Hormuz tighten markets, according to the International Energy Agency’s (IEA) Global Gas Security Review 2026, published on November 3.
