- 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%
Reject extension
Türkiye Rejects Kirkuk-Ceyhan Pipeline Extension Amid Iraq Talks
Turkey has rejected Iraq’s request to extend the existing agreement governing the Kirkuk-Ceyhan oil pipeline, signaling its preference to negotiate a new framework before the current accord expires on July 27.
Afreximbank
Afreximbank Launches $100 Mn Gold Refinery Project in Egypt
The African Export-Import Bank (Afreximbank) will inject between $50 million and $100 million to construct a landmark gold refinery in Egypt, with execution scheduled to begin by the end of 2026, Ayman Elzoghby, Head of Intra-African Trade Finance, Investment, and Corporate Finance at the bank, told Asharq.
LNG
ExxonMobil to Supply LNG to South Africa’s First Import Facility
Exxon Mobil has entered into a preliminary agreement to supply liquefied natural gas (LNG) to South Africa’s Zululand Energy Terminal (ZET), which is set to become the country’s first LNG import facility once constructed.
ADNOC
ADNOC Expands Spot Crude Sales to Asia as Regional Tensions Ease
Abu Dhabi National Oil Company (ADNOC) has sold more than 30 million barrels (mmbbl) of spot crude oil to Asian refiners and trading firms this month, according to market sources, as buyers moved to secure supplies following the announcement of a US-Iran ceasefire agreement.
EGPC
Badawi: Egypt's Total Crude Oil Production Exceeds 540,000 bbl/d
Egypt's crude oil production has exceeded 540,000 barrels per day (bbl/d), marking a return to growth after a period of decline, Minister of Petroleum and Mineral Resources Karim Badawi said during a meeting with the leadership of the Egyptian General Petroleum Corporation (EGPC). Badawi praised the efforts of the EGPC and its affiliated companies for the increase, emphasizing their role in increasing production and ensuring secure fuel supplies through coordinated efforts across the petroleum value chain.
Petrobel
Petrobel Launches "Zero Waste" Initiative in South Sinai
In line with the Ministry of Petroleum and Mineral Resources (MoPMR)’s strategy to promote environmental sustainability and corporate social responsibility (CSR), Belayim Petroleum Company (Petrobel) has launched the “Zero Waste” project at its Abu Rudeis camp in South Sinai. The initiative stands as a pioneering model that integrates environmental protection with socio-economic development, supporting Egypt Vision 2030 and the United Nations (UN) Sustainable Development Goals (SDGs).
investment
Cyprus' FMC Plans $20 Mn Investment in Mining Exploration in Egypt
Cypriot mining company FMC, formerly known as SMW, plans to invest nearly $20 million over the next two to three years as it resumes operations in Egypt, according to Executive Chairman Philipp Hiendl. This came through a meeting of Karim Badawi, Minister of Petroleum and Mineral Resources with FMC Executive Chairman Philipp Hiendl to discuss the company’s plans to resume gold and mineral exploration activities in the Eastern Desert.
Egypt
Egypt, World Bank Align on Decarbonization Under GFMR Framework
Mahmoud Nagy, Undersecretary for health, safety, and environment (HSE), Energy Efficiency, and Climate, and Official Spokesperson of the Ministry of Petroleum and Mineral Resources (MoPMR), met with the World Bank mission representatives responsible for the Global Flaring and Methane Reduction Partnership Program (GFMR), together with the Ministry’s environmental affairs team.
