- Crude Oil (WTI) 79.23 USD/bbl 4.55%
- Crude Oil (Brent) 84.99 USD/bbl 5.42%
- NYMEX Natural Gas 2.90 USD/MMBtu 0.00%
- OPEC Basket Price 78.03 USD/bbl 3.92%
Renewables
Shell Divests Indian Renewables Arm Sprng Energy to ABRen
Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc, has signed an agreement with Aditya Birla Renewables Limited (ABRen) to divest its entire stake in Solenergi Power Private Limited, including the Sprng Energy group of companies, in a transaction valued at $1.8 billion.
lower forecast
OPEC Cuts 2026 Global Oil Demand Growth Forecast for Third Straight Month
The Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand growth in 2026 to 780,000 barrels per day (bbl/d), marking the third consecutive downward revision, according to OPEC's monthly oil market report.
SAF
Civil Aviation Ministry launches SAF Roadmap Workshop
Sameh Elhefny, Minister of Civil Aviation, inaugurated a workshop to draft a feasibility study for the domestic production and utilization of Sustainable Aviation Fuel (SAF), a cleaner alternative to jet fuel made from renewable or waste-based sources. The two-day event was organized in cooperation with the International Civil Aviation Organization (ICAO) under the ACT-SAF program, with support from the European Union (EU), according to the cabinet..
central bank
Madbouly Reviews Measures to Secure Petroleum Stockpiles
Prime Minister Mostafa Madbouly met with Karim Badawi, Minister of Petroleum and Mineral Resources; Ahmed Kouchouk, Minister of Finance (MoF); Hassan Abdalla, Governor of the Central Bank of Egypt (CBE); and Tarek El-Kholy, CBE's Deputy Governor, to review efforts to increase the strategic petroleum product stockpiles.
Mostafa Madbouly
Badawi Briefs Madbouly on Outcomes of US, Russia, Jordan Visits
Prime Minister Mostafa Madbouly met with Minister of Petroleum and Mineral Resources Karim Badawi to review key ministry files, including recent international engagements, investment developments, and plans to boost Egypt’s energy production. Badawi summarized outcomes of his recent visits to the United States, Russia, and Jordan.
Nuclear production
France Cuts Nuclear Output by 6.3 GW as Heatwave Raises River Temperatures
France reduced nuclear power output by 6.3 GW across eight reactors as a prolonged heatwave raised river temperatures, forcing EDF to curb generation under environmental regulations while the country remained a net electricity exporter.
SAF
Madbouly Reviews Jet Fuel Security with Petroleum, Aviation Ministers
Prime Minister Mostafa Madbouly met with Karim Badawi, Minister of Petroleum and Mineral Resources, and Sameh Elhefny, Minister of Civil Aviation, to follow up on the cooperation between the two ministries on securing jet fuel as well as developments related to Egypt's plan to start producing Sustainable Aviation Fuel (SAF). The discussions focused heavily on progress regarding Egypt’s first Sustainable Aviation Fuel (SAF) project, alongside securing local energy infrastructure to meet rising transport demands, according to a statement by the Cabinet.
Ras Shukeir
EGPC CEO Inspects Oil Storage Facilities in Eastern Desert
Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), inspected the strategic crude oil storage facilities in Ras Gharib and at Ras Shukeir in the Eastern Deserts as part of implementing the Ministry of Petroleum and Mineral Resources (MoPMR)'s strategy to accelerate the operation of vital projects, according to a statement by MoPMR. Abdel Kerim started the tour with a meeting at the General Petroleum Company (GPC) in Ras Gharib, during which he affirmed that the company represents a genuine added value to the national economy.
