- 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%
El Wastani Petroleum Company (WASCO)
WASCO Makes New Gas Discovery in Nile Delta
El Wastani Petroleum Company (WASCO) has drilled the North El-Basant–1 exploratory well in the Delta, uncovering an estimated 15–25 billion cubic feet (bcf) of additional natural gas reserves according to initial test results. WASCO, a joint venture between UAE Dana Gas and the Egyptian Natural Gas Holding Company (EGAS), is currently completing procedures to bring the well onstream, with expected production reaching around 10 million cubic feet per day (mmcf/d), according to the Ministry of Petroleum and Mineral Resources.
LNG HARMONY vessel
Egypt Exports New LNG Shipment to Turkey
Egypt exported a new liquefied natural gas (LNG) shipment from the Idku liquefaction plant to Turkey aboard the LNG HARMONY carrier, transporting approximately 150,000 cubic meters (m³) of LNG for Shell Global, according to the Ministry of Petroleum and Mineral Resources.
UK
TotalEnergies to Merge UK Upstream Business with NEO NEXT, Forming New Entity NEO NEXT+
TotalEnergies has reached an agreement to merge its UK upstream operations with NEO NEXT Energy Limited, creating a newly expanded company to be renamed NEO NEXT+ in a deal expected to close in the first half (H1) of 2026.
Services contract
Maridive Secures 15-Year Services Contract in Qatar
Egypt's largest offshore marine and oil support services provider, Maridive and Oil Services , has secured a 15-year contract in Qatar to provide maintenance and production support services starting in the first quarter (Q1) of 2028, according to a release from the Egyptian Stock Exchange.
japan
JERA Signs First Long-Term LNG Deal to Supply India
Japan’s largest power generation company, JERA, has signed a 10-year liquefied natural gas (LNG) sale and purchase agreement with Torrent Power, one of India’s leading integrated power utilities. The deal, which begins in 2027, marks JERA’s first long-term contract to supply cargoes outside of Japan, signifying a major step in its global expansion strategy.
Portovaya LNG
Russia’s Gazprom Resumes Portovaya LNG Exports with Shipment to China
Russia’s state-controlled energy giant Gazprom has shipped a liquefied natural gas (LNG) cargo to China from its Portovaya LNG facility, marking the first apparent delivery since the US imposed sanctions on the project earlier this year, Reuters reported.
Deputy Director of Production at the Central Oil Company
Iraq's East Baghdad-Rashidiya Field Reaches 8,000 bbl/d Capacity
The Iraq’s Ministry of Oil revealed that the East Baghdad–Rashidiya field currently has a production capacity of about 8,000 barrels per day (b/d) of crude oil, in addition to 15 million cubic feet per day (mmcf/d) of dry gas.
Minister of Petroleum and Mineral Resources Karim Badawi
Badawi Discusses Investment and Reform with Mining Sector Leadership
Karim Badawi, Minister of Petroleum and Mineral Resources, met with a group of CEOs and representatives of companies operating in the mining sector in Egypt to discuss investment opportunities and means to expand exploration activities for different mineral resources, as well as value-added downstream industries.
