- Crude Oil (WTI) 90.48 USD/bbl -0.58%
- Crude Oil (Brent) 97.97 USD/bbl 0.00%
- NYMEX Natural Gas 3.00 USD/MMBtu 0.00%
- OPEC Basket Price 90.82 USD/bbl -6.04%
energy sector
MOPCO: Gas Supply Cut Increases to 33%
Misr Fertilizers Production Company (MOPCO) said its natural gas intake has been further reduced, bringing the total supply cut to 33%, compared with a 20% reduction reported just a week ago. The company said it had been notified of the new reduction, stressing that its operations and production processes are being managed in line with the available gas volumes to ensure business continuity, noted a company filing to the Egyptian Stock Exchange (EGX). The company also reaffirmed its commitment to disclosing any material developments in due course, in accordance with EGX disclosure requirements. The development comes less than a week after several fertilizer producers said their natural gas supplies were slashed by 20% as rising import costs put pressure on gas availability.
Egypt
Harbour Energy Starts Production from EZZ-2 Discovery in Egypt's Disouq Area
UK-based independent energy company Harbour Energy brought its EZZ-2 discovery in Egypt's Disouq area online in the third quarter (Q3) of 2026, after successfully tying it into existing infrastructure, the company noted in its trading and operations update. Harbour said EZZ-2 was connected to existing facilities and began production in Q3, supporting its efforts to replenish reserves and sustain output. The development formed part of the company's exploration successes during the first nine months of the year, alongside the Omega Sør discovery in Norway.
Q3 Results
Vaalco Drills Five Wells in Egypt in Q3 2026
Vaalco Energy, an American independent oil and gas company, drilled and completed five development wells in Egypt during the third quarter (Q3) of 2026, in addition to completing two additional wells in October, the company's Q3 2026 operational and financial results press release noted. Vaalco said it would continue to successfully execute workovers, well interventions, well reactivations, water shut-off treatments, and production optimization activities that are contributing to the organic growth of the Company’s production and reserves in Egypt.
QatarEnergy
QatarEnergy in Talks to Secure Up to 2 mtpa of LNG From NextDecade’s Texas Project
QatarEnergy is negotiating to purchase up to 2 mtpa of LNG from NextDecade’s proposed Train 6 at the Rio Grande LNG project in Texas, as the company expands its US supply portfolio to diversify exports and mitigate potential shipping disruptions.
Iraq
Iraq Taps OPEC to Increase Oil Production Quota
Iraq is seeking to increase its oil production and secure a higher export ceiling through talks with OPEC, Oil Minister Bassim Khudair told the Iraqi News Agency (INA).
African Finance Corporation
Egypt, African Finance Corporation Discuss Funding Oil, Gas Projects
Egypt's Minister of Petroleum and Mineral Resources Karim Badawi has discussed potential cooperation with the African Finance Corporation (AFC) to finance and implement new projects across the oil, gas, refining, petrochemicals and mining sectors, according to a ministry statement on November 7.
ADNOC
ADNOC Signs 10-Year Agreement to Supply LNG to India
UAE energy giant ADNOC has signed a long-term sales and purchase agreement (SPA) with Indian gas distributor Gujarat Energy to supply liquefied natural gas (LNG) to India from the international gas portfolio of XRG, ADNOC’s international investment company, according to a statement on November 6.
Financial Results
Dana Gas Records 48% YoY Higher Net Profit in 9M 2026
UAE natural gas company Dana Gas has posted a 48% year-on-year (YoY) surge in net profits during the first nine months (9M) of 2026, according to a press release on November 6.
