- Crude Oil (WTI) 72.07 USD/bbl +1.27%
- Crude Oil (Brent) 76.00 USD/bbl +1.40%
- NYMEX Natural Gas 2.32 USD/MMBtu +6.14%
- OPEC Basket Price 76.06 USD/bbl -0.41%
Increase output
OPEC+ Signals Possible Oil Output Increase from April Amid Rising Demand
OPEC+ is inclined to resume gradual oil production increases starting in April, according to three sources within the alliance, as the group positions itself ahead of stronger summer demand and firmer prices linked to escalating US Iran tensions. The potential move would enable leading producer Saudi Arabia and key member UAE to recover market share.
Knowledge exchange
EGPC Eyes Improved Decision-Speed via In-House Digital Solutions
As part of efforts to implement the five-year plan to boost production and enhance exploration activities, the Egyptian General Petroleum Corporation (EGPC) held a forum titled “The Systems We Built,” which showcased several in-house systems developed by employees across sector companies in terms of improving efficiency, optimizing resource utilization, reducing costs, and minimizing errors.
AI
Aramco, Microsoft Sign MoU to Advance Industrial AI
Saudi Aramco, the global energy leader and Microsoft, the technology innovation giant, have signed a non-binding memorandum of understanding (MoU) to explore a range of digital initiatives aimed at accelerating the deployment of industrial artificial intelligence (AI) across Aramco’s operations.
Shell
Shell Starts 2026 Drilling Program Following Stena IceMAX Arrival
Shell Egypt has announced the commencement of its 2026 Mediterranean drilling campaign following the arrival of the Stena IceMAX drillship. Operated by Stena Drilling, the vessel will execute a multi-well program, starting with the Mina West development wells and the Sirius exploration prospect, followed by the Velox exploration well.
Eni
Badawi, Eni Review Progress of Cyprus Cronos Gas Link to Egypt
Karim Badawi, Minister of Petroleum and Mineral Resources has met with a delegation from Italy’s Eni to review ongoing operations in Egypt including the project to tie in Cyprus’ Cronos gas field to Egyptian gas and liquefaction facilities. The delegation included Diego Portoghese, Head of North Africa and Levant, Francesco Gaspari, General Manager of the International Egyptian Oil Company (IEOC), Eni’s Egyptian subsidiary, and Mahmoud Abou El-Yazid, Deputy General Manager of Eni in Egypt.
Agiba Petroleum Company
Western Desert Discoveries Add 34 mmcf/d of Gas and 5,200 bbl/d of Crude
Four petroleum sector companies have successfully made new discoveries in the Western Desert, yielding a total estimated production of over 5,200 barrels per day (b/d) of crude oil and condensates, alongside approximately 34 million cubic feet per day (Mmcf/d) of natural gas.
Ras Gharib
UEE Partners with Misr El Kheir to Strengthen Ras Gharib’s Healthcare , Education
United Energy Egypt (UEE) has signed a cooperation protocol with Misr El Kheir Foundation to support healthcare services and launch the UEE Technical and Vocational Education Center in Ras Gharib, as part of its commitment to advancing sustainable development and empowering local communities The cooperation includes the development of the blood bank, emergency unit, and radiology unit at Ras Gharib Central Hospital, aiming to enhance the quality and efficiency of healthcare services provided to citizens.
agreements
PETRONAS Launches Malaysia Bid Round 2026, Offering Nine Exploration Blocks
Through Malaysia Petroleum Management (MPM), Petronas has officially launched the Malaysia Bid Round 2026 (MBR 2026) under the theme “Advantaged Energy: Accelerating and Shaping Tomorrow,” as part of efforts to reinforce Malaysia’s standing as a leading destination for upstream investment.
