- Crude Oil (WTI) 100.71 USD/bbl -2.12%
- Crude Oil (Brent) 110.05 USD/bbl -2.95%
- NYMEX Natural Gas 2.93 USD/MMBtu 1.03%
- OPEC Basket Price 112.85 USD/bbl -1.64%
Shell
Shell Receives First Commercial LNG Cargo From US’ Venture Global
British energy giant Shell has received the first liquefied natural gas (LNG) cargo under a long-term sales contract from US-based Venture Global’s Plaquemines export facility in Louisiana, following the start of commercial operations at the plant’s first phase, Venture Global said on press release published on November 1.
EUG
Egypt Extends International Oil, Gas Bid Round Deadline
Egypt’s state-owned Egyptian General Petroleum Corporation (EGPC) has extended the deadline for its 2026 international licensing round following requests from interested companies, the Egypt Upstream Gateway (EUG) said on November 1.
AMOC
AMOC Delivers 2.5 fold Profit Growth in 9M 2026
Alexandria Mineral Oils Company (AMOC) recorded a 154% increase in consolidated net profit after tax, reaching EGP 3.47 billion in the first nine months of 2026, according to a company disclosure to the Egyptian Exchange (EGX). The company recorded a 41% YoY increase in consolidated sales to EGP 43.17 billion for the nine months. On a standalone basis, AMOC's net profit after tax nearly tripled to EGP 3 billion, up from EGP 1.03 billion in the first nine months of 2025. Standalone sales revenue also increased by 41% YoY to EGP 42.32 billion in the nine months.
crude oil
OPEC+ to Keep December Oil Output Targets Unchanged
The Organization of the Petroleum Exporting Countries and allies (OPEC+) have reached an agreement in principle to keep their production targets unchanged in December at a meeting scheduled for Sunday, according to Reuters.
Afreximbank
Egyptian Banker Helmy Ghazi Named First President for Africa Energy Bank
The African Petroleum Producers' Organization (APPO) and the African Export-Import Bank (Afreximbank) have formally launched the Africa Energy Bank (AEB) to finance oil and gas projects across the continent as traditional international lenders scale back funding for fossil fuel developments. AEB's inaugural meeting, which took place in Abuja, Nigeria, witnessed the appointment of the Egyptian banker Helmy Ghazi as the bank's first president and the formation of its first Board of Directors, Reuters reported. The bank has an authorised capital of $5 billion and will finance projects across the energy value chain, including oil and gas exploration and production, transportation, processing, refining, and distribution.
Natural Gas
Badawi Checks Gas Network Preparedness to Meet Demand
Egyptian Petroleum and Mineral Resources Minister Karim Badawi has inspected the national natural gas control centre to review supply flows and assess the network’s readiness to meet domestic demand amid regional uncertainty and volatility in global energy markets, the ministry said on October 31.
Digitalization
Egypt to Pilot Digital Fuel Tracking System in Port Said to Curb Smuggling
Egypt will begin testing a digital system to track fuel distribution in Port Said on November 1 using vehicles’ electronic traffic stickers to strengthen oversight of fuel sales and curb smuggling and the diversion of petroleum products, the Ministry of Petroleum and Mineral Resources said on 31 October.
Eni
Eni Starts Gas Production at Maha Offshore Field in Indonesia
Eni has started gas production at the Maha offshore field in Indonesia, adding capacity of 250 mmcf/d and taking combined output from the Jangkrik floating production unit (FPU) and the South Hub to a plateau of 750 mmcf/d, the Italian energy company said on October 30.
