- Crude Oil (WTI) 86.45 USD/bbl 1.75%
- Crude Oil (Brent) 92.26 USD/bbl 1.65%
- NYMEX Natural Gas 3.30 USD/MMBtu 2.48%
- OPEC Basket Price 91.99 USD/bbl -1.31%
Strait of Hormuz
Orlen Terminates One of Its Long-Term LNG Supply Deals with QatarEnergy
Orlen has terminated a 1 mtpa long-term LNG supply agreement with QatarEnergy due to continued force majeure following disruptions to Qatari exports amid the Iran war.
drilling
Arab Contractors to Supply Chinese Drilling Equipment to Egypt
Arab Contractors has entered the oil and gas drilling equipment market by signing an exclusive commercial agency agreement with China's Chengdu HLF Diamond Bit Co., Ltd., a manufacturer of oil and gas drill bits, to market and distribute its products in Egypt.
sustainability
UEE Launches Second Tamkeeny Center in Matrouh
United Energy Egypt (UEE), a subsidiary of Kuwait Energy Egypt (KEE), which is part of Hong Kong-based United Energy Group (UEG), in partnership with social enterprise Egyptian Buttonup and its local NGO partner, has launched Tamkeeny West – El Hamam Phase II, marking a new step in expanding vocational training and economic empowerment programmes for women.
Türkiye
Türkiye Plans to Boost Output from Gabar Oil Fields to More Than 100,000 Bbl/d
Türkiye expects production from its Gabar oil fields in the southeast to exceed 100,000 barrels per day (bbl/d) in the second half (H2) of 2027, Reuters reported on November 10, citing Turkish President Recep Tayyip Erdogan.
offshore
ADNOC Drilling Wins Contracts Worth Up to $313.6Mn in Kuwait
ADNOC Drilling, the UAE-based oilfield services company, has secured contracts worth up to $313.6 Mn for two offshore jack-up rigs from Kuwait Oil Company (KOC), according to a company press release.
ADNOC
ADNOC Gas Explores Alternative Export Routes Amid Strait of Hormuz Disruptions
ADNOC Gas is exploring alternative export routes amid Strait of Hormuz disruptions, while advancing its 9.6 mtpa Ruwais LNG project and targeting $4 billion in net income in 2026.
MOU
ExxonMobil Eyes Venezuela Return After Nearly 20 Years
ExxonMobil has signed a memorandum of understanding (MoU) with Venezuela's state-owned oil company PDVSA to assess upstream oil opportunities, marking a potential return to the country nearly two decades after its assets were expropriated, according to Reuters.
LNG Shipment
Hormuz LNG Shipments Reach Highest Level Since Iran War Began
Liquefied natural gas (LNG) tanker traffic through the Strait of Hormuz increased to 31 laden vessels in October, marking the highest monthly volume since the US-Iran conflict disrupted shipping in February 2026, according to vessel-tracking data cited by Reuters. Data from S&P Global Energy showed that 23 of the tankers were loaded at Qatar's Ras Laffan export terminal, while eight departed from the UAE's Das Island. The October figure compares with 23 LNG tankers recorded exiting the strategic waterway in September, indicating a gradual recovery in regional LNG shipments.
