- Crude Oil (WTI) 92.41 USD/bbl -0.03%
- Crude Oil (Brent) 104.38 USD/bbl 0.00%
- NYMEX Natural Gas 3.16 USD/MMBtu -1.25%
- OPEC Basket Price 114.53 USD/bbl 6.35%
Egypt
Petrosannan Exceeds FY 2025/26 Natural Gas Production Targets by 36%
Petrosannan, the joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Ukraine’s Naftogaz, exceeded its natural gas production target by 36 per cent during fiscal year (FY) 2025/26, with production reaching7.67 million cubic feet per day (mmcf/d), Ayman Morshedy, the Company’s Chairman, said. Petrosannan further met 101% of its oil and condensates production target, reaching approximately 3,000 barrels per day (bbl/d) of oil and condensates. Moreover, the company invested $30.69 million during the year in exploration, well development, facilities, digitalization, and energy-efficiency initiatives.
Gasoline shipment
Syria-Iraq Fuel Corridor Begins Gasoline Shipments
Gasoline shipments from Syria to Iraq have begun via Baniyas, creating a two-way energy corridor as Iraq develops alternative fuel routes amid disruptions to Strait of Hormuz shipping.
Capricorn Energy
Egypt Oil Assets at Center of Genel-DNO Bidding War
Competition for a foothold in Egypt’s oil sector has escalated after Genel Energy raised its cash offer for Capricorn Energy to $436 million, surpassing Norwegian rival DNO and regaining Capricorn’s board support. Under the revised terms, Capricorn shareholders will receive about $5.74 per share, comprising $4.75 in cash and a $0.99 special dividend. The offer represents a 10% premium to DNO’s latest proposal in September. Capricorn’s Egyptian assets are operated through Badr El Din Petroleum Company (BAPETCO), a joint venture with the Egyptian General Petroleum Corporation (EGPC) and Cheiron.
Capricorn Energy
Capricorn's Egypt Assets Record 300 % increase in H1 2026 profits
Capricorn Energy’s Egyptian operations reported a 300% year‑on‑year increase in the first half of 2026, with profits rising to $36 million on $100 million in revenue. Overall, the company also swung to a $24.1 million profit, compared with a $6.5 million loss in the same period of 2025. Capricorn is a cash flow-focused energy producer with a portfolio of onshore development and production assets in Egypt’s Western Desert. The company's Egyptian assets are operated through Badr El Din Petroleum Company (BAPETCO), a joint venture with the Egyptian General Petroleum Corporation (EGPC) and Cheiron.
Maridive & Oil Services
Maridive Net Profit Surges 346% in H1 2026
Maridive & Oil Services’ net profit surged 346% year-on-year (YoY) to $48.61 million in the first half (H1) of 2026, supported by higher revenue and gross profit, according to the company’s unaudited consolidated financial statements. The company’s Board of Directors approved the unaudited consolidated financial statements for the period ended June 30, 2026, at a meeting on September 23, 2026, chaired by Board Chairperson Shahira Magdy Zeid.
Energean
Energean Removes Kilmar, Garrow Platforms From UK North Sea
Energean has completed the removal of the Kilmar and Garrow platforms from the Southern North Sea, transporting more than 3,500 tonnes of steel to the Netherlands for dismantling, reuse and recycling.
BP
Badawi, bp Discuss $700 Mn Drilling Program to Boost Egypt Gas Output
Karim Badawi, Minister of Petroleum and Mineral Resources, met with senior bp officials to review the company’s exploration, drilling and production plans in Egypt, including a $700 million program targeting four wells.
Petroleum Ministry Denies Social Media Claims of New Fuel Prices
Egypt’s Ministry of Petroleum and Mineral Resources has denied social media reports circulating about new prices for petroleum products, saying the figures being shared are false and do not reflect current prices in the local market.
