- Crude Oil (WTI) 103.20 USD/bbl 4.11%
- Crude Oil (Brent) 117.38 USD/bbl 0.00%
- NYMEX Natural Gas 2.64 USD/MMBtu 0.00%
- OPEC Basket Price 115.09 USD/bbl 3.41%
EGAS
Chevron Reports Positive Results at Egypt’s Nargis-2 Gas Well
Chevron and Egypt’s Ministry of Petroleum and Mineral Resources reported positive results from drilling the Nargis-2 natural gas well in the Mediterranean Sea, with drilling confirming the extension of previously discovered gas-bearing formations and identifying an additional gas-bearing layer, according to a statement by the ministry on October 24.
Eni
Eni Raises 2026 Production Growth Outlook to 6%-7% as Projects Advance
Eni raised its 2026 hydrocarbon production growth outlook to 6%-7% after output increased 7% YoY to 1.83 million barrels of oil equivalent per day (boe/d) in Q3 2026, supported by organic growth and new project developments across several regions, according to the company’s financial results published on October 23.
Financial Results
Eni’s Q3 Adjusted Net Profit More Than Doubles to €2.8 Bn
Eni’s adjusted net profit attributable to shareholders more than doubled year on year (YoY) to €2.8 bn in the third quarter (Q3) of 2026, supported by higher hydrocarbon production, stronger commodity prices and improved refining margins, according to a statement by the Italian energy giant said on October 23.
ADIPEC
ADIPEC Report Says Energy Sector Become More Attractive for Investment
Eighty-five percent of energy industry leaders say the sector is more attractive for investment than it was five years ago, while 77% remain optimistic about the next decade, according to the ADIPEC Global Energy Report for 2026, released on October 22.
oil production
Trump Orders Expansion of US Oil Production, Refining Capacity
US President Donald Trump has directed the secretary of defense to expand domestic oil production, refining, transportation and storage capacity, Bloomberg’s Asharq Business website reported on October 23.
recommendations
MOC 2026 Concludes With Calls to Boost Oil Production, Investment
Egypt’s Mediterranean Oil and Gas Conference and Exhibition (MOC 2026) concluded on 23 October with recommendations to accelerate exploration, increase oil and natural gas production, attract investment, expand regional energy cooperation and deploy advanced technologies across the sector, according to a statement by the petroleum ministry.
diesel
US Refiners Increase Output as Diesel Shortages Boost Margins
US refiners have operated at higher-than-normal rates in 2026 as tight global supplies of refined fuels, particularly diesel, have boosted profit margins, Reuters reported on October 22, citing data by the US Energy Information Administration (EIA).
session
Egypt’s Oil Sector Highlights Gas, Technology as Drivers of Industrial Growth at MOC 2026
Egypt’s oil and gas sector highlighted the role of natural gas, advanced production technologies, and regional cooperation in boosting industrial growth and maximizing economic returns at the Mediterranean Offshore Conference and Exhibition (MOC 2026), according to a statement by the petroleum ministry on October 22.
