- Crude Oil (WTI) 84.66 USD/bbl 7.94%
- Crude Oil (Brent) 87.91 USD/bbl 6.31%
- NYMEX Natural Gas 2.69 USD/MMBtu 1.13%
- OPEC Basket Price 85.86 USD/bbl -3.43%
Egypt
Arab Energy Fund Targets 20% Stake in Maridive
Maridive & Oil Services Company (Maridive) announced it has received a non‑binding offer from the Arab Petroleum Investments Company (Arab Energy Fund) to acquire 20% of its share capital, valuing the potential transaction at up to $67.7 million, the company said in a statement to the Egyptian Exchange (EGX).
OPEC
OPEC+ Eyes Pause in Oil Output Hikes After September
OPEC+ is expected to pause its planned oil production increases for three months starting in October after completing the scheduled return of barrels to the market in September, Reuters reported, citing sources familiar with the matter. According to the sources, the pause would keep around 2 million barrels per day (mmbbl/d) of OPEC+ production cuts in place beyond September while the alliance discusses new production quotas expected to take effect in January 2027.
deal
Türkiye, Iraq Eye Broad Energy Pact
Türkiye seeks to conclude a broad energy cooperation agreement with neighboring Iraq “as soon as possible,” following talks with Iraqi Prime Minister Ali al‑Zaidi in the Turkish capital, President Tayyip Erdogan said according to Reuters.
Iraq
bp Sells 15% Interest in Iraq's Kirkuk Oil and Gas Business to TPAO
British Petroleum (bp) has sold 15% of its working interest in its subsidiary in Iraq, BP Energy Company of Kirkuk Limited (BP ECKL), that operates a series of oil and natural gas fields to Türkiye Petrolleri Anonim Ortaklığı (TPAO). The agreement was signed during the official visit of Iraqi Prime Minister Ali Al-Zaidi to Türkiye and builds on the Memorandum of Understanding (MoU) signed by bp and TPAO in February 2026. It also follows ConocoPhillips' previously announced acquisition of a 42% interest in BP ECKL.
Natural Gas
Badawi, Cypriot Ambassador Discuss Gold and Natural Gas Investment Opportunities
Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), received Polly Ioannou, Ambassador of the Republic of Cyprus to Egypt, to discuss strengthening the strategic partnership between the two countries in the natural gas and mining sectors.
Egypt Energy
Egypt, Apache Fast-Track Western Desert Gas Development to Boost Supplies
Karim Badawi, Minister of Petroleum and Mineral Resources, met with John J. Christmann IV, Apache Corporation CEO, and several company executives to discuss Apache’s recent discoveries in Egypt’s Western Desert through Khalda Petroleum Company, which recorded initial production of 40 million cubic feet (mmcf) of natural gas per day.
Libya
Libya Resumes Production at El Feel, Wafa Oilfields
Libya's National Oil Corporation (NOC) has resumed production at the El Feel and Wafa oilfields after operations were temporarily halted following disruptions at the Mellitah Oil & Gas Complex, according to Reuters. The Mellitah complex is jointly operated by NOC and Italy's Eni. It manages production from the El Feel oil field, which produces between 80,000 and 90,000 barrels per day (bbl/d) under normal operating conditions.
Force maejure
QatarEnergy Extends Force Majeure, Edison Replaces Cargoes
QatarEnergy has informed Edison (EDNn.MI), one of its largest European clients, that it will be unable to supply three liquefied natural gas (LNG) cargoes, extending its force majeure declaration through the end of September..
