- Crude Oil (WTI) 88.99 USD/bbl 3.12%
- Crude Oil (Brent) 96.05 USD/bbl 3.91%
- NYMEX Natural Gas 3.34 USD/MMBtu 4.05%
- OPEC Basket Price 86.78 USD/bbl 0.88%
Drilling Program
Halliburton Plans 50-Well Drilling Program in Egypt
The Egyptian General Petroleum Corporation (EGPC) and US energy technology and services company Halliburton have signed a cooperation agreement to conduct studies for a proposed program to drill 50 wells over 18 months in areas operated by the General Petroleum Company (GPC). The program aims to increase Egypt's domestic oil and gas production by applying advanced horizontal drilling and multistage hydraulic fracturing technologies to unlock resources that have been difficult or uneconomical to develop using conventional methods, according to petroleum ministry's statement.
MOL
NOC Holds First Technical Meeting with Repsol-Led Consortium on Libya’s Block 22
Libya’s NOC discusses exploration plans with a Repsol-led consortium for offshore Block 22, including seismic surveys scheduled to begin in Q2 2027.
Venezuela
ExxonMobil Evaluates Seven Areas for Potential Oil and Gas Projects in Venezuela
US energy major ExxonMobil is assessing seven areas in Venezuela for potential oil and gas development under a preliminary agreement with the Venezuelan government and state-owned Petróleos de Venezuela (PDVSA), as it considers a return to the country nearly two decades after its assets were nationalised. According to Reuters, the areas include undeveloped fields, mature producing assets and an exploration block, with discussions centred on heavy oil opportunities in the Orinoco Belt, Venezuela's largest oil-producing region.
drilling
Halliburton Launches New Technology for Offshore Well Abandonment
Halliburton,the American energy technology and services company, has launched its new IntelliTTCE™ service, designed to help offshore oil and gas operators assess well integrity and plan plug and abandonment (P&A) operations without first removing production tubing.
Gold Exploration
MRMIA Holds Talks with AngloGold Ashanti on Expanding Mining Investment
Amro Ismail Elsharkawi, Chairman of the Mineral Resources and Mining Industries Authority (MRMIA), met with Hoda Mansour, President of AngloGold Ashanti Egypt and Sukari Gold Mines Board Member, to discuss ways to strengthen cooperation and support investment in Egypt’s mining sector. AngloGold Ashanti, one of the world's leading gold mining corporations, holds a 50% stake in Egypt's largest gold mine Sukari , while the MRMIA owns the remaining 50% . It also has ongoing expansion in exploration and prospecting ventures across new territories in the Eastern Desert..
UK
Eni Pledges £11 Bn Investment in UK Energy Sector Through 2030
Eni has pledged to invest approximately £11 Bn in the UK between 2026 and 2030, with around two thirds of the funding allocated to lower-carbon sectors, according to a statement by the Italian energy company.
OPEC
OPEC Forecasts Global Oil Demand to Grow by 2.6 Mmbbl/d in 2027
The Organization of the Petroleum Exporting Countries (OPEC) is expecting global oil demand to increase by 2.6 million barrels per day mmbbl/d in 2027, unchanged from its previous assessment, while forecasting modest growth of 200,000 barrels per day (bbl/d) in 2026, according to its November Monthly Oil Market Report (MOMR).
Egypt
PMS Reviews Offshore Gas Pipeline Protection Project in Abu Madi
Petroleum Marine Services (PMS) is advancing the fourth phase of a 24-inch offshore gas pipeline coastal protection project in the Abu Madi area, operated by Belayim Petroleum Company (Petrobel), as part of efforts to protect offshore infrastructure and maintain the continuity of natural gas flows.
