- Crude Oil (WTI) 91.48 USD/bbl -0.53%
- Crude Oil (Brent) 102.39 USD/bbl 1.30%
- NYMEX Natural Gas 3.01 USD/MMBtu 1.69%
- OPEC Basket Price 108.82 USD/bbl 1.42%
Egypt
Egypt, WB Discuss Roadmap to Boost Mining Sector’s GDP Contribution
Egypt’s Ministry of Planning and Economic Development is working with the World Bank Group to prepare an integrated roadmap for developing the country’s mineral resources and increasing the mining sector’s contribution to gross domestic product (GDP). The discussions took place between Planning and Economic Development Minister Ahmed Rostom and Namrata Thapar, World Bank Group Global Director for Metals and Minerals.
False news
Cabinet: Claims of $50m Energos Winter Repair Costs “Unfounded”
The Cabinet has denied reports claiming that Egypt will pay $50 million to repair the Energos Winter floating storage and regasification unit (FSRU), which was set on fire resulting from a drone attack at Damietta Port in July. "The cabinet had contacted the Ministry of Petroleum and Mineral Resources (MoPMR), which confirmed that the reports were fabricated, misleading, and false," noted a statement published on the cabinet's social media platforms.
US
Trump: Diesel Export Ban Talks Continue “Every Day”
US President Donald Trump said on Wednesday that his administration is still considering a ban on US diesel exports as it seeks to curb rising fuel prices, Reuters reported. Speaking at the White House, Trump said discussions over a potential export ban were taking place “every day.” He said the measure could reduce diesel prices in the US but would likely put upward pressure on gasoline prices.
energy projects
South Korea Plans $350 Bn Push Into US Energy Sector
South Korea has outlined plans for major US gas, nuclear, and LNG projects under a $350 billion investment package aimed at strengthening energy ties and securing exemptions from US import tariffs.
ADNOC
AIQ Expands into Indian Oil and Gas Market with New Technology Deal
UAE-based energy technology company AIQ, a joint venture between Abu Dhabi National Oil Company (ADNOC) and Presight, has signed an agreement to enter India’s oil and gas sector, marking another step in the ADNOC-backed company’s expansion of artificial intelligence (AI) solutions beyond its home market.
MRMIA, OZ Mining Review Gold Exploration in Egypt’s Eastern Desert
Mineral Resources and Mining Industries Authority Chairman Yasser Ramadan met Turkish company OZ Mining to review gold exploration cooperation in Egypt’s Eastern Desert and assess the potential for further work.
EBRD and World Bank
MRMIA Chairman Meets EBRD, World Bank to Build Mining Capacity
Mineral Resources and Mining Industries Authority Chairman Yasser Ramadan met representatives of the EBRD and World Bank to strengthen cooperation, secure support and build Egypt’s mining capabilities.
In2Metals
MRMIA, Sawiris Explore Fresh Gold Investment in Egypt
Egypt’s Mineral Resources and Mining Industries Authority Chairman Yasser Ramadan met In2Metals Chairman Naguib Sawiris to discuss expanding gold exploration and attracting fresh investment to Egypt’s Eastern Desert.
