- 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%
Refineries
Iraq Achieves Full Refining Capacity Across New Plants
Iraq’s Ministry of Oil stated that newly developed refineries are now operating at 100% capacity, marking a major advance in the country’s refining sector and positioning Iraq among petroleum-product exporters that meet international quality standards.
Russia
India Reaffirms Energy Strategy Amid Questions Over Russian Oil Imports
India will continue to rely on a diversified mix of energy sources to ensure stable and affordable supplies for its consumers, Foreign Secretary Vikram Misri said, underscoring New Delhi’s focus on energy security and market-driven decisions.
Mining Potential
Badawi Talks Mining Sector Potential at Mining Indaba 2026
Representing Egypt at the African Mining Indaba 2026, Karim Badawi, Minister of Petroleum and Mineral Resources delivered a recorded speech at the Egypt Country Showcase. The Minister stated that Egypt views mining as a strategic pillar for economic diversification and industrial localization, through the Ministry's third strategic pillar aimed at relaunching the Mining Sector’s potential and increasing its contribution to the GDP from approximately 1% to 6%.
Egypt
Egypt Partners with Global Oil Majors to Double Production in Five Years
Minister of Petroleum and Mineral Resources Karim Badawi has held high-level talks with senior executives from SLB, Baker Hughes, Weatherford, Halliburton, National Energy Services Reunited Corporation (NESR), and EXPRO in Egypt to establish a new technical framework for doubling Egypt's domestic crude oil production over the next five years.
Eqat Gold Mines
MoMPR Showcases Gold, Critical Mineral Opportunities to Investors at African Mining Indaba
A delegation of the Ministry of Petroleum and Mineral Resources met with Asimwe Kabunga, Founder and Executive Chairman of Australian Resource Minerals International Limited and officials from Abu Dhabi Ports Group. The meetings, which came on the sidelines of the African Mining Indaba conference in South Africa, highlighted investment opportunities in Egypt's mining sector, supported by mineral resources, infrastructure, and energy sources, as well as recent reforms that have helped create a more competitive and investor-friendly environment, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The petroleum ministry noted in its statement that discussions focused on investment opportunities in gold exploration and in critical and strategic minerals seen as key to the future of the global economy..
MoPMR
MoPMR Discusses Mining Incentives, Licensing with Global Investors in Cape Town
Representatives of the Egyptian Ministry of Petroleum and Mineral Resources (MoPMR) held talks with Australian and Canadian mining investors to discuss expanding exploration activities in the Eastern Desert. The discussions, taking place during the Investing in African Mining conference in South Africa, focused on streamlining licensing procedures and leveraging international expertise to modernize Egypt’s mining infrastructure.
Performance
ADNOC Gas Reports Record $5.2 Billion Net Profit in 2025
ADNOC Gas plc posted a record net profit of $5.2 billion (AED 19.10 billion) in 2025, marking a 3% increase from the previous year. This growth was driven by a 4% rise in sales and, according to the company’s press release, “demonstrates resilience despite a 14% year-on-year drop in average Brent crude prices to $69 per barrel.” “2025 represented a pivotal stage in the journey of ADNOC Gas, during which it achieved record profits while simultaneously continuing to invest in growth plans. This strong performance confirms the resilience and scalability of the company’s business, as well as its ongoing significant role on the global stage." Fatema Alnuaimi, CEO of ADNOC Gas, said.
Delegation
Egypt Highlights Mining Reforms,Potential in Africa's Indaba Conference
The Ministry of Petroleum and Mineral Resources is participating with a high-level delegation in the activities of Africa’s Mining Indaba 2026 conference, held in Cape Town, South Africa, from February 9th to 12th. Egypt's participation in this year's edition comes within the framework of promoting the new investment climate in the mining sector and showcasing the structural reforms and investment incentives recently implemented by the Ministry. It also aims to highlight legislative amendments designed to streamline procedures and attract major international corporations, as well as medium and small-sized companies, in the field of gold and mineral exploration and exploitation.
