- Crude Oil (WTI) 93.23 USD/bbl 0.85%
- Crude Oil (Brent) 105.58 USD/bbl 1.15%
- NYMEX Natural Gas 3.06 USD/MMBtu -3.16%
- OPEC Basket Price 112.78 USD/bbl -1.53%
Egypt, Libya Sign MoU to Strengthen Energy Cooperation
Egypt and Libya signed a memorandum of understanding (MoU) to strengthen cooperation in electricity and energy, with a focus on upgrading Libya’s power network and supporting its growing infrastructure and development needs. The agreement expands a broader Egypt-Libya energy relationship. In January 2026, Egypt’s Petroleum Projects and Technical Consultations Company (PETROJET) and Libya’s National Oil Corporation (NOC) signed an MoU covering cooperation in petroleum, natural gas, and mining.
AngloGold Ashanti
Egypt, AngloGold Ashanti Eye Wider Partnership Beyond Sukari
Egypt seeks to broaden its partnership with global mining company AngloGold Ashanti beyond operating the Sukari Gold Mine, aiming for a comprehensive strategic alliance, said President Abdel Fattah El-Sisi on the sidelines of the Egypt Mining Forum (EMF 2026). The remarks came during a meeting between the president and the company's CEO Alberto Calderón, where El‑Sisi stressed that the enhanced cooperation would focus on exploration, technology transfer, technical training, local supply‑chain development, and attracting fresh foreign investment into Egypt’s mining sector. Calderon said Egypt is among AngloGold Ashanti’s priority investment destinations and outlined plans to increase investment in promising mining sites in the country, according to a statement by the Ministry of Petroleum and Mineral Resources(MoPMR).
Saudi Arabia
Middle East Oil Exports Surge as Saudi Arabia Drives September Recovery
Crude oil exports from key Middle Eastern producers are set to rebound to 12.8 million barrels per day (mmbbl/d) in September, their highest level since the US-Israeli war with Iran began in February, as Saudi Arabia and the United Arab Emirates (UAE) increase shipments, according to preliminary data from analytics firm Kpler cited by Reuters.
Badawi Urges African Mining Cooperation to Build Integrated Mineral Value Chains
Karim Badawi, Minister of Petroleum and Mineral Resources, called for stronger cooperation between governments and investors to develop integrated mineral value chains across Africa and attract long-term mining investment.
African Minerals Regulatory Authorities Forum (AFMRA)
Badawi Launches African Minerals Regulatory Authorities Forum to Strengthen Mining Cooperation
Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, launched the African Minerals Regulatory Authorities Forum (AFMRA) in Cairo to strengthen cooperation among mining regulators and improve the continent’s regulatory frameworks.
meeting
Egypt’s Refining Activity Jumps 22.4% in Q3 FY2025/26
Egypt’s petroleum sector is showing signs of recovery, with crude oil production returning to growth and refining activity rising 22.4% in 3Q FY2025/26, as the government prioritizes higher domestic output and increased investment.
Petrosannan
Petrosannan Exceeds FY 2025/26 Natural Gas Production Targets by 36%
Petrosannan, the joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Ukraine’s Naftogaz, exceeded its natural gas production target by 36 per cent during fiscal year (FY) 2025/26, with production reaching7.67 million cubic feet per day (mmcf/d), Ayman Morshedy, the Company’s Chairman, said. Petrosannan further met 101% of its oil and condensates production target, reaching approximately 3,000 barrels per day (bbl/d) of oil and condensates. Moreover, the company invested $30.69 million during the year in exploration, well development, facilities, digitalization, and energy-efficiency initiatives.
Syria
Syria-Iraq Fuel Corridor Begins Gasoline Shipments
Gasoline shipments from Syria to Iraq have begun via Baniyas, creating a two-way energy corridor as Iraq develops alternative fuel routes amid disruptions to Strait of Hormuz shipping.
