- 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%
Oil Exports
US Crude Exports Surge to 5.2 mmbbl/d Amid Global Supply Disruptions
The US came close to becoming a net crude exporter for the first time since World War II, as exports surged to 5.2 million barrels per day (mmbbl/d)—the highest level in seven months—driven by strong demand from Europe and Asia seeking alternatives to disrupted Middle East supplies.
Performance
TotalEnergies Expects Q1 Earning Rise in 2026
TotalEnergies, the integrated multi-energy company, anticipated a sharp rise in first‑quarter (Q1) of 2026 earnings, driven by strong trading results, higher upstream output, and increased oil sales amid elevated prices linked to the war in Iran, even as the conflict forced the shutdown of 15% of the French company’s overall production, Reuters reported.
Increase
Tharwa Petroleum Reports 15% Production Growth in 2025
Tharwa Petroleum Company, a state-owned company, recorded strong operational and production results in 2025, achieving a 15% increase in output compared to the previous year following the successful drilling of four new wells in the Western Desert, Chairman and Managing Director Saeed Abdel Moneim reported. The wells were initially drilled to offset natural production decline, but results exceeded expectations and bolstered overall growth. These results were reviewed during the general assembly meeting attended by Minister of Petroleum and Mineral Resources Karim Badawi, along with senior officials from the ministry, the Egyptian General Petroleum Corporation (EGPC), EGAS, South Valley Egyptian Petroleum Holding Company (Ganope), and representatives of the Central Auditing Organization.
Egypt
PMS Assigned EPIC Work for Phase12 of West Delta Deep Marine Project
Petroleum Marine Services Company (PMS), one of Egypt’s petroleum sector companies, announced that it has received an assignment order to execute marine works for Phase 12 of the West Delta Deep Marine (WDDM) natural gas field development project, on behalf of Burullus Gas Company. PMS will act as the general contractor under the Engineering, Procurement, Installation, and Construction (EPIC) system, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). This assignment extends PMS’s record of achievements during Phases 10 and 11 of the WDDM project, where the company successfully laid two offshore power cables at depths reaching 660 meters and executed well tie-in operations at depths of up to 880 meters.
EPROM
EPROM Records 44% Rise in Net Profit in 2025
The Egyptian Projects Operation and Maintenance (EPROM), a subsidiary of the Egyptian General Petroleum Corporation (EGPC), reported a net profit of EGP 1.586 billion in 2025, marking a 44% increase from 2024, Chairman Hossam Asad announced during the general assembly meeting convened to review the company’s 2025 fiscal year (FY) results.
UAE
Fujairah Refined Product Stocks Fall to Nine-Year Low
Refined oil product inventories in Fujairah, the United Arab Emirates (UAE), dropped below 10 million barrels (mmbbl) on April 15, marking their lowest level in at least nine years, according to the latest data reported by Reuters.
Western Desert
Canada's TAG Oil Reveals 2026 Drilling Plans in Egypt’s Western Desert
Tag Oil, Canadian based international oil and gas exploration company, is preparing to drill a T-200 vertical well in the Badr Oil Field (BED-1) concession located in the Western Desert in 2026, according to its first quarter (Q1) of 2026 operational update release. Simultaneously, at the Southeast Ras Qattara (SERQ) concession, TAG Oil is launching a technical evaluation phase, including a Diagnostic Fracture Injectivity Test (DFIT) scheduled for Q2, to assess the commercial viability of unconventional reservoirs.
hydraulic fracturing
Badawi Targets Output Gains with Horizontal Drilling, Hydraulic Fracturing
In a high‑level meeting with senior executives from oil and gas companies, Petroleum and Mineral Resources Minister Karim Badawi announced plans to deploy horizontal drilling and hydraulic fracturing techniques to boost output. Badawi confirmed the ministry’s readiness to apply these advanced technologies after establishing a favourable investment climate and introducing new incentive schemes for exploration and production firms. Badawi highlighted these technologies' proven success in boosting production in other countries.
