- 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%
Saudi Aramco
Aramco Surges 25% in Net Profit in Q1 of 2026
Saudi Energy Giant Aramco reported a 25% year-on-year (YoY) increase in first-quarter (Q1) net profit for 2026, supported by operational resilience amid ongoing disruptions to shipping through the Strait of Hormuz.
production
Apache’s Egypt Gas output Increases 20% in Q1 2026
APA Corporation, parent of Apache, reported that natural gas production from Apache’s Egyptian operations averaged 381 million cubic feet per day (mmcf/d) in the first quarter of 2026, up 20% from the same period in 2025. Meanwhile, Apache’s Egypt assets contributed 86,736 barrels per day (bbl/d) to APA’s oil output in Q1 2026, compared with 86,173 bbl/d in the corresponding quarter of 2025.
Operating Income
Equinor Records 9% Production Surge, Renewables Output Jumps 29% in Q1
Norway Equinor posted record results in the first quarter (Q1) of 2026 with adjusted operating income of $9.77 billion, up from $8.65 billion in Q1 2025. This comes as Equinor delivered record-high production in Q1, with a total equity production of 2,313 million barrels of oil equivalent per day (boe/d), 9% higher than the same quarter in 2025.
petroleum sector
EGPC Launches Internal Carbon‑Tracking Platform for Oil & Gas Sector
The Egyptian General Petroleum Corporation (EGPC) has launched a digital platform to monitor the sector's carbon footprint, underscoring its commitment to digital transformation and environmental sustainability. The platform is an internal carbon‑tracking engine for oil and gas firms; it is restricted to sector use and not publicly accessible.
crude oil
Iraq Announces New Oil Discovery at Al-Qarnain Block
Iraq announced the discovery of a new oil field in Najaf province, close to the Saudi border in the country’s southwest. The field, discovered by China-based Zhenhua Oil, holds estimated reserves of 8.83 billion barrels (bbbl). Current output is reported at 3,248 barrels per day (bbl/d) of light crude oil, Iraqi News reported.
ADNOC
ADNOC Utilizes Dark Shipping Tactics to Bypass Hormuz Blockade
The Abu Dhabi National Oil Co. (ADNOC) exported at least 6 million barrels (mmbbl) of crude oil through the Strait of Hormuz in April, using dark shipping tactics to evade Iranian attacks, according to Reuters. This maneuver allowed the United Arab Emirates (UAE) to move significant volumes of crude that had been bottled up in the Gulf due to the ongoing regional conflict, according to industry sources and satellite data from the global trade intelligence firm Kpler and the satellite intelligence firm SynMax.
Cabinet Meeting
Madbouly: IOCs Commit to Invest $19Bn Over Three Years
Egypt is accelerating efforts to strengthen its energy sector through new investments, discoveries, and market reforms. Egypt has secured investment commitments exceeding $19 billion from international partners over the next three years, Prime Minister Mostafa Madbouly said during the cabinet's weekly meeting. He broke down the figure to: $8 billion from Italy’s Eni, $5 billion from British Petroleum(bp), $2 billion from the UAE’s Arcius Energy, and $4 billion from US-based Apache.
Egypt
Egypt Gas Records 20% Surge in 2025 Revenues
Egypt Gas recorded a net profit after tax of EGP 321.8 million in 2025, marking 11% increase from 2024. This came on the back of a 20 % increase in the company's revenues during the same period to stand at EGP 9 billion. The company increased the value of its total assets to EGP 19.46 billion, from EGP 14.35 billion in 2024. Moreover, its share price jumped by 77 % to EGP 42 in March 2026.
