- 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%
quarter results
Egypt Gas Q1 2026 Profit Hikes 11.7% YoY
Egypt Gas recorded an 11.66% year-on-year (YoY) increase in net profit after tax for the first quarter (Q1) of 2026, reaching EGP 219.3 million. This bottom-line growth was supported by a 27.49% surge in operating revenues, which climbed to EGP 2.152 billion during the January–March period of 2026, according to the company’s financial disclosure submitted to the Egyptian Exchange (EGX) on May 24.
ADNOC
ADNOC Deploys Heavy-Duty Inspection Robot at Taweelah Gas Plant
Abu Dhabi National Oil Company (ADNOC) has deployed Taurob’s heavy-duty inspector robot at its Taweelah Gas Compression Plant, where it will conduct routine inspections in hazardous environments without putting people at risk, according to the company's release on May 21.
MOU
BOTAS, Edison Sign MoU to Explore Gas, LNG Cooperation
Türkiye’s state-owned energy company BOTAS has signed a memorandum of understanding (MoU) with Italy’s Edison to explore potential cooperation in natural gas and liquefied natural gas (LNG).
a nationwide airborne geophysical survey project
Egypt Contracts Spain’s Xcalibur to Launch Nationwide Mining Survey
The Mineral Resources and Mining Industries Authority (MRMIA) has signed a contract with Spain’s Xcalibur, marking the initial steps for launching of operations for Egypt’s first nationwide airborne geophysical survey project in more than 40 years.
Sukari Gold Mine
Badawi: Egypt to Launch "Exceptional"Mining Forum Edition in September
From inside the Sukari Gold Mine, one of the world’s leading gold mines, Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi announced the launch of an exceptional edition of the Egypt International Mining Forum (EIMF), under the patronage of President Abdel Fattah El-Sisi. The event is scheduled to take place on September 28–29 in the New Administrative Capital, with broad international participation expected from major mining companies and global investors.
discovery
Chevron Starts Drilling New Well at Nargis Gas Field
Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the launch of drilling operations for a new well at the Mediterranean Nargis natural gas field, to fast-track production from the field, which US energy field major Chevron Corporation operates in partnership with Italy’s Eni, the UAE’s Mubadala Energy, and Egypt’s Tharwa Petroleum Company, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Sidi Kerir Petrochemicals company (Sidpec)
SIDPEC Revenues Grow by 4.8 % in Q1 2026
Sidi Kerir Petrochemicals Company (SIDPEC) posted a 68.65% year-on-year (YoY) decrease in net profit after tax for the first quarter (Q1) of 2026, dropping to EGP 184 million. This bottom-line decline occurred despite a 4.87% increase in revenues, which rose to EGP 3.788 billion, according to the company’s unaudited financial statement submitted to the Egyptian Exchange (EGX).
Western Desert
Agiba Petroleum’s New Discovery Adds 330 bcf of Gas, Largest in 15 Years
Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and the Italian energy major, Eni, has made a significant new hydrocarbon discovery in the Western Desert, described as the company’s largest in 15 years.
