- 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%
Badr Petroleum Company
Badr Petroleum Hits 6,500 boe/d in H1 of FY2025/26
Badr Petroleum Company recorded an average production of 6500 barrel of oil equivalent per day (boe/d), achieving its targets for the first half of the current fiscal year, said Ibrahim Massoud, who serves as the Chairman of both the Western Desert Operating Company (WEPCO) and its subsidiary Badr Petroleum Company. Massoud added that two development wells were drilled, contributing to higher natural gas production rates, with the second well scheduled to be brought online next week. This came during the general assembly meeting of the Badr Petroleum Company to review the amended investment plan for the fiscal year (FY) 2025/2026 including the addition of a new development well at the Badr-1 field, creating new production opportunities.
renewable energy
Global Solar Council Commends Egypt’s Clean Energy Shift
In its February 2026 report, the Global Solar Council (GSC) praised Egypt’s strategic efforts to diversify its energy mix and bolster green electricity exports, solidifying the nation's standing as a regional hub for sustainable energy, noted a statement by the Egyptian Cabinet. nt also pointed out that Norway’s Scatec has announced the commencement of commercial operations at its Obelisk solar project in Nagaa Hammadi. The facility marks Egypt’s first hybrid renewable energy plant, integrating solar Photovoltaic (PV) generation with advanced battery storage technology.
Eni’s Production Hikes by 7% YoY in Q4 2025
Eni's oil and gas production rose by over 7% year on year (YoY) from its global portfolio during Q4 of 2025, reaching 1.84 million barrels of oil equivalent per day (boe/d), thanks to the accelerated start-ups and ramp-ups as well as excellent base business performance, the company said in a statement.
WEPCO
WEPCO Targets 88 mmbbl/y Trading Capacity for El Hamra Port
Ibrahim Massoud, Chairman of the Western Desert Operating Petroleum Company (WEPCO), operator of El Hamra Petroleum Port, announced that the port is targeting a trading volume of approximately 88 million barrels (mmbbl) for the fiscal year (FY) 2026/27. This throughput, facilitated by the port’s offshore facilities and pipeline network, will average 240,000 barrels per day (bbl/d), marking a significant increase in trading activity. These targets were unveiled during WEPCO’s general assembly meeting to approve the FY 2026/27 investment plan. The session also reviewed amendments to the FY 2025/26 budget to account for extensive expansion works aimed at boosting crude oil and petroleum product storage, alongside enhanced trading operations.
Egypt
PhPC Average Production Reach 76,000 boe/d during H1 2025/26
Pharaonic Petroleum Company (PhPC) achieved production of 76,000 barrels of oil equivalent (boe/d) during the first half (H1) of fiscal year (FY) 2025/26. PhPC Chairman Hossam Zaki revealed that this output comprised 387 million cubic feet per day (mmcf/d) of gas and 8,740 barrels per day (bbl/d) of condensate. This came during the General Assembly meeting held to approve PhPC’s investment plan for FY 2026/27 and the amended plan for the current fiscal year.
The Minister of Petroleum and Mineral Resources
Capricorn Energy Eyes Expansion of Operations in Western Desert
Karim Badawi, the Minister of Petroleum and Mineral Resources, held talks with senior executives from UK-based Capricorn Energy to review the company’s operations in the Western Desert and its plans to raise oil and gas production. The delegation included Capricorn Energy CEO Randy Neely, Chief Operating Officer, Geoff Probert, and the Managing Director of Capricorn Energy PLC Egypt, Eleanor Rowley.
Saipem
Saipem Delivers €15.5 Bn Revenue, Sets 2026 Guidance
Italy’s engineering and construction group Saipem reported growing financial results in 2025, with full-year revenue rising 6.5% year-on-year (YoY) to €15.497 billion. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 29.1% YoY to €1.716 billion.
investments
Egypt, Norway’s Scatec Explore Expanding Renewable Energy Investments
As Cairo steps up efforts to attract high-quality foreign direct investment (FDI), Mohamed Farid, Egypt’s Minister of Investment and Foreign Trade, met with Terje Pilskog, CEO of Norway’s Scatec, to explore expanding cooperation in renewable energy and green investment, according to a press release by the ministry. Scatec, a renewable energy company, has been active in Egypt’s clean energy sector through a pipeline of solar and wind power investments. The company’s portfolio is anchored by its contribution to the Benban Solar Park, one of the world's largest photovoltaic (PV) installations, and the recently launched Obelisk project in Nagaa Hammadi.
