- Crude Oil (WTI) 102.89 USD/bbl 0.07%
- Crude Oil (Brent) 113.40 USD/bbl -2.83%
- NYMEX Natural Gas 2.90 USD/MMBtu 0.00%
- OPEC Basket Price 112.85 USD/bbl -1.64%
BP
bp Posts $8.5 Bn Underlying Profit in Q3 2026
British Petroleum (bp) has reported underlying replacement cost profit of $8.5 Bn in the third quarter (Q3) of 2026, up from $5.7 Bn in the previous quarter, supported by higher refining margins and stronger gas and marketing trading performance, according to a statement by the company on October 30.
Ganope
PetroNefertiti Discovers Oil, Gas at Lorcan-6 Well in Egypt’s Eastern Desert
PetroNefertiti, a subsidiary of South Valley Egyptian Petroleum Holding Company (GANOPE), has discovered oil and gas at the Lorcan-6 exploration well in the North Geisum concession near Gebel El Zeit in Egypt’s Eastern Desert, according to a statement by the petroleum ministry on October 30.
Ministry of Petroleum and Mineral Resources
Egypt Monitors Oil, Gas Supplies Amid Geopolitical Tensions
Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi has reviewed plans to secure domestic supplies of petroleum products and natural gas amid escalating regional tensions and their impact on global energy markets and supply chains, according to a ministry statement on October 29.
China
Sinopec’s Q3 Profit Jumps 57% YoY on Higher Oil Prices, Refining Margins
China Petroleum and Chemical Corporation (Sinopec) has reported a 57.2% year-on-year (YoY) increase in its net profit during the third quarter (Q3) of 2026, as stronger refining margins and higher crude oil prices offset weaker fuel demand, Reuters reported on October 29.
France
Europe to Release 42 Million Barrels From Oil Reserves Over Three Months
Europe will release 42 million barrels of oil from strategic reserves over the next three months to help ease price pressures, French Economy Minister Roland Lescure said on October 29, according to Bloomberg.
Iraqi Kurdistan
Norway's DNO Weighs Exporting Kurdistan Oil Through Syria
Norwegian oil and gas company DNO is considering exporting crude oil from Iraq’s Kurdistan region through Syria to secure prices closer to international benchmarks, Reuters reported October 29, citing the company’s CEO Bijan Mossavar-Rahmani.
Financial Results
TotalEnergies Reports 51% Eise in Adjusted Net Income for Q3 2026
French energy major TotalEnergies reported a 35% year-on-year (YoY) increase in adjusted earnings to $17.8 billion in the third quarter (Q3) of 2026, supported by record refining margins, higher liquefied natural gas (LNG) prices, and stronger trading performance. The company also generated a 51% rise in adjusted net income reaching $9.1 billion during the quarter, compared to the same period of last year.
Energy transition
Madbouly Opens 1.2 MW Solar Power Plant at Nasr Petroleum
Egypt inaugurates a 1.2 MW solar power plant at Nasr Petroleum in Suez as the petroleum sector expands renewable energy capacity and energy-efficiency initiatives.
