- Crude Oil (WTI) 85.15 USD/bbl 0.00%
- Crude Oil (Brent) 91.68 USD/bbl -5.27%
- NYMEX Natural Gas 2.87 USD/MMBtu 0.00%
- OPEC Basket Price 102.76 USD/bbl 8.71%
Results
SLB Q2 Revenue Rises 5% YoY on ChampionX Deal
SLB reported second-quarter 2026 revenues of $8.97 billion, up 5% year-on-year (YoY) from Q2 2025, driven largely by the ChampionX acquisition, which contributed $865 million of revenue to Production Systems. However, excluding ChampionX, revenues fell 5% compared with last year, reflecting persistent disruptions in the Middle East.
lease-and-leaseback agreement
KOC Signs $16 Bn Pipeline Lease Deal
Kuwait Oil Company has signed a $16 billion pipeline lease-and-leaseback agreement with a consortium led by Blackstone, Brookfield, and KKR, securing the largest foreign direct investment in Kuwait's history.
highlighting the strategic role of the SUMED Pipeline in maintaining reliable access to global markets.
Aramco Expands Crude Exports via Egypt’s Sidi Kerir
Amid rising Red Sea shipping risks, Saudi Aramco is expanding crude exports through Egypt's Sidi Kerir terminal, highlighting the strategic role of the SUMED Pipeline in maintaining reliable access to global markets.
BP
MoPMR, BP Plan Gas Production from “Fayoum North-4” Well
As part of the Ministry of Petroleum and Mineral Resources' strategy to increase domestic natural gas production, maximize the use of existing infrastructure, and reduce reliance on imports, it is working with BP to bring the “Fayoum North-4” well in the Mediterranean Sea into production soon. The well is expected to produce approximately 80 million cubic feet of natural gas per day.
Petroleum Refining
Badawi Says Egypt’s Oil Output Hits Two-Year High
Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), said Egypt’s crude oil production has hit its highest level in nearly two years. He credited settling outstanding payments to investment partners in June with restoring confidence, attracting new capital, and accelerating exploration and production.
natural gas projects
EGAS Ain Sokhna Pipes Plant Backs Local Gas, Cuts Imports
Sayed Selim, Executive Managing Director at the Egyptian Natural Gas Holding Company (EGAS), toured the company’s polyethylene pipe factory in Ain Sokhna. The visit aims to follow up on directives from Minister of Petroleum and Mineral Resources Karim Badawi to reduce imports and boost local content.
U.S.-Iran Tensions
U.S.-Iran Tensions Likely Pushing Oil Toward $100
The collapse of the U.S.-Iran ceasefire could keep Brent crude near $100 per barrel through 2026, according to updated forecasts from Rapidan Energy Group, a Washington-based energy and geopolitical consultancy.
Crude Oil Discovery
Velox-1X Shows Promising Oil Discovery in Western Mediterranean
Drilling at the offshore Velox-1X exploration well in the North Cleopatra Block confirmed there is an active petroleum system and crude oil reserves in the area. These findings
