- Crude Oil (WTI) 101.42 USD/bbl 1.43%
- Crude Oil (Brent) 106.87 USD/bbl 2.44%
- NYMEX Natural Gas 2.89 USD/MMBtu 2.12%
- OPEC Basket Price 114.89 USD/bbl 0.0%
US
ExxonMobil: US to Capture 30% of Global LNG Market by 2030
The United States (US) could account for around 30% of the global liquefied natural gas (LNG) market by 2030, as expanding natural gas production supports higher exports, according to Peter Clarke, Senior Vice President of LNG at ExxonMobil Upstream. Speaking at an energy forum in Bangkok on September 14, Clarke said the US has emerged as a major LNG supplier, supported by North America's position as one of the world's largest natural gas-producing regions.
mining sector
MRMIA Announces Bidding Deadlines for Eight Mineral Blocks
The Mineral Resources and Mining Industries Authority (MRMIA) has revealed the closing dates for bidding on a number of the available blocks including gold, Kaoline, and phosphate.
West Qurna 2 oilfield
Chevron to Provide Technical Consultancy for Iraq’s West Qurna-2 Field
Iraq’s Ministry of Oil has signed an agreement with Chevron to provide technical consultancy to the Basra Oil Company during negotiations over the development of the West Qurna-2 oilfield.
Oman
Iran to Announce Temporary Strait of Hormuz Shipping Lane Agreement
Iran plans to present Gulf nations with an agreement reached with Oman on a temporary shipping lane through the Strait of Hormuz on Monday, as Tehran and regional states seek to ease shipping disruptions, Bloomberg reports.
Saudi Arabia oil exports
Saudi East-West Pipeline Attack Exposes Oil Supply Vulnerabilities
The global oil market faces fresh uncertainty after the temporary shutdown of Saudi Arabia’s East‑West pipeline (Petroline) on September 10, following a series of drone strikes. The disruption has raised concerns over the kingdom’s crude exports and the outlook for international oil prices. Petroline’s role has grown since the outbreak of the US‑Iran conflict, with Riyadh diverting more than 70% of daily crude shipments to Yanbu to avoid Hormuz shipping risks. Stretching 1,200 kilometres from eastern oil fields to the Red Sea port, the line has recently carried 4–5 million barrels per day -equal to about 4-5% of global supply, according to Reuters. “ "Suspending flows through the East‑West pipeline will inevitably affect world oil prices, particularly given the unresolved crisis in the Strait of Hormuz,” said Salah Hafez, former vice‑chairman of the Egyptian General Petroleum Corporation (EGPC).
Egypt
Qalaa Holdings Doubles Stake in ERC
Qalaa Holdings’ Board of Directors has approved expanding its indirect stake in the Egyptian Refining Company (ERC), one of the group’s energy assets. The move will see Qalaa’s effective ownership rise from 13.0% to 27.1%, underscoring its long-term commitment to Egypt’s downstream sector. The transaction will take place through Qalaa's acquisition of a 55.4 % stake in New Age Refining, which will in turn buy the whole of QPI Egypt from Qatar Energy at face value. Because QPI Egypt holds a 25.4% indirect stake in ERC, this purchase doubles Qalaa's overall ownership. Both New Age Refining and QPI Egypt are offshore investment holding vehicles created specifically to manage ownership stakes in the Egyptian Refining Company (ERC). The deal is set to close in December 2026, once all agreed terms and conditions are met. ERC, located in Mostorod, produces 4.2 million tons (mmt) of liquid petroleum products annually, alongside 600,000 tons of petroleum coke and sulfur. Its entire output of refined fuels is sold to the Egyptian General Petroleum Corporation (EGPC) under a long-term supply contract, priced against international benchmarks.
energy
UAE, Germany Seal Energy, AI Partnerships Enabling €5 Bn Investment
Abu Dhabi National Oil Company (ADNOC), and its international energy investment company XRG, along with UAE’s Masdar have signed a series of agreements with German companies that could enable more than €5 billion in investment across Germany’s energy and industrial sectors, strengthening cooperation in liquefied natural gas (LNG), natural gas, offshore wind, low-carbon ammonia, advanced materials, and artificial intelligence (AI).
export
QatarEnergy Explores US LNG Deals to Offset Production Losses
QatarEnergy is negotiating long-term LNG supply agreements with US producers to offset production losses at its Ras Laffan facilities, with potential deals covering up to 3 million tons annually through 2031.
