- Crude Oil (WTI) 90.82 USD/bbl -0.48%
- Crude Oil (Brent) 102.61 USD/bbl 0.00%
- NYMEX Natural Gas 3.03 USD/MMBtu 0.66%
- OPEC Basket Price 108.82 USD/bbl 1.42%
butane cylinders
MoPMR Denies Butane Shortage, Fuel Prices Increase
The Ministry of Petroleum and Mineral Resources (MoPMR) has denied circulated news of shortages in butane cylinders in some governorates, affirming that supplies are operating normally and that refineries continue to produce and supply butane to filling plants. It also has repeated last week's denial of reports circulating on certain social media pages and websites regarding changes to fuel prices. The prices being promoted as new official prices are inaccurate and not based on any official decision
energy sector
Egypt Forum 2026 to Showcase Energy Progress
A session entitled “Egypt’s Energy Journey” will feature in the upcoming Egypt Forum 2026, to be held from October 19 to 24 in the New Administrative Capital to highlight developments across various sectors of the economy in recent years. Prime Minister Mostafa Madbouly reviewed the topics to be covered during the session, among others, during a meeting with a number of ministers as part of preparations for the forum, according to a Cabinet statement. During the meeting, Madbouly stressed the importance of highlighting developments in the sector and government measures to secure the country’s energy needs and ensure sustainable supplies to various sectors.The session will also address efforts to improve energy efficiency, expand renewable energy sources, develop domestic resources, and attract further investment in the sector. The forum, held from October 19 to 24 in the New Administrative Capital, aims to highlight achievements across various sectors in recent years including the energy sector.
Rejection
EU Opposes US Threat to Halt Diesel Exports Over Fuel Stocks
The European Union (EU) has opposed a US threat to suspend diesel exports to the bloc unless European countries release additional fuel from their reserves, warning that such a move could undermine energy cooperation between the two sides. The US position follows President Donald Trump’s support for restricting diesel exports to keep more fuel in the domestic market and curb rising energy costs.
TAG Oil
TAG Oil Drills to 4,102m, Eyes 500 mmbbls Oil Potential in Western Desert
TAG Oil, the Canadian oil and gas exploration company, has reached the targeted Abu Roash Formation (ARF) reservoir at Badr Oil Field (BED-1) in the Western Desert after drilling its T-200 well to 4,102 meters (m). Test results for the initial production are expected in late October 2026, noted a press release by the company. TAG Oil is developing the unconventional heavy oil potential of ARF in BED-1. An independent reserves evaluation indicates that the target formation may contain more than 500 million barrels (mmbbls) of oil in place, according to the company.
Group of Seven Nations
G7 Unveils 100 mmbbl Reserve Release to Ease Energy Market Pressures
The G7 will coordinate the release of 100 million barrels of diesel and other energy reserves through the IEA over four months to ease supply pressures and stabilize global energy markets.
Aramco
Fire Seen Near Aramco Facility in Riyadh as Houthi Attacks Escalate
A large plume of smoke and fire was seen near an Aramco facility in Riyadh on Saturday, according to a witness who spoke to Reuters, as attacks linked to Yemen’s Iran-aligned Houthis intensify.
Egypt Uses Oil, Gas Infrastructure to Link African Resources to Global Markets
Egypt is positioning its oil, gas, and mining infrastructure as a platform to connect African resources with regional and international markets, Minister of Petroleum and Mineral Resources Karim Badawi said.
OPEC
OPEC+ Delays Oil Capacity Review as Iran War Disrupts Expansion Plans
OPEC+ has delayed a review of members’ oil production capacity after the Iran war disrupted projects to expand output across the Middle East, creating uncertainty over estimates that will help set 2027 quotas, according to two sources familiar with the matter.
