- 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%
Uofayes
TotalEnergies: Higher Oil Prices to Offset Middle East Production Cuts
TotalEnergies reported that production in Qatar, Iraq, and offshore UAE is either halted or in the process of shutting down, representing around 15% of the company’s total output. Onshore UAE production, estimated at 210,000 barrels per day (b/d) (TotalEnergies’ share), remains unaffected by the ongoing regional tensions.
Egypt
Badawi Inspects Natural Gas Grid Preparation to Ensure Stable Supplies
Karim Badawi, Minister of Petroleum and Mineral Resources, conducted an unannounced visit to the National Natural Gas Grid Control Center (NATA) at the Egyptian Natural Gas Company (GASCO) headquarters. The visit aimed to inspect the operational status of the national natural gas transmission grid and ensure the regular flow of natural gas supplies across the network to various consumption sectors.
India
Iran Allows Two Indian LPG Carriers Through Strait of Hormuz Amid Blockade
Iran has permitted two Indian-flagged liquefied petroleum gas (LPG) carriers to pass through the Strait of Hormuz, sources with direct knowledge said to Reuters, marking a rare exception to Tehran’s blockade that has disrupted global energy shipments.
EGYPES 2026
Ganope Targets EGP 4 Bn Revenue in FY 2026/27
South Valley Egyptian Petroleum Holding Company (Ganope) targets revenues exceeding EGP 4 billion and net profits surpassing EGP 1 billion, in the fiscal year (FY) 2026/27, according toAshraf Bahaa the company's Chairman . This came during the general assembly meeting of the company, in which the Minister of Petroleum and Mineral Resources, Karim Badawi, approved the company's investment plan.
EGAS
EGAS to Launch New bid Round in Western Mediterranean
The Egyptian Natural Gas Holding Company (EGAS) plans to launch new bid round in 2026, offering natural gas exploration licenses across several areas in the Western Mediterranean, according to Chairman and Executive Managing Director Sayed Selim. The plan also includes drilling 17 exploratory wells during the upcoming Fiscal Year(FY), and commencing the first phase of the seismic survey project in the Eastern Mediterranean during the second half (H2) of the year. The meeting reviewed the status of recent exploratory wells, West Denis-1, Sirius, and Jannat-1, alongside preparations to drill four additional wells during the second half of FY 2025/26.
ECHEM
ECHEM Plans $11 Bn Petrochemical Projects to Localize 20 Products by 2030
The Egyptian Petrochemicals Holding Company (ECHEM) has unveiled a five-year plan to launch 10 projects targeting the localization of over 20 petrochemical products for domestic and international markets. The plan envisions a total production capacity of 7.5 million tons (mmt) and investments estimated at $11 billion, according to Chairman Alaa El-Din Abdelfattah. Speaking at the company’s general assembly to approve its investment program for FY 2026/2027, Abdelfattah highlighted ECHEM’s efforts to deepen integration with the Ministry of Industry, aiming to substitute high-import petrochemical inputs with locally manufactured products.
crude oil
Iranian Crude Flows Through Hormuz as Gulf Exports stall
Iranian crude oil has kept flowing through the Strait of Hormuz at near-normal levels, despite Tehran-linked attacks on ships that have slashed exports from other Gulf nations, according to a Reuters analysis of tanker tracking data.
gas prices
Trump to Draw on Petroleum Reserves to Counter Price Hikes
President Donald Trump announced that his administration will tap the US Strategic Petroleum Reserve (SPR) to combat skyrocketing gas prices fueled by the ongoing conflict with Iran.
