- 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%
Israel and Iran conflict
Kuwait declares force majeure as Strait of Hormuz disruptions persist
Kuwait Petroleum Corporation (KPC) has begun cutting crude oil production and declared force majeure amid ongoing disruptions to energy shipments through the Strait of Hormuz as the conflict between US and Iran enters its eighth day.
Egypt
PetroWeb, BAPETCO Bring New Gas Wells Online
The Egyptian oil and gas sector has successfully added new wells to the gas production map in both the Mediterranean Sea and the Western Desert. In the Mediterranean, the second well in the West El-Burullus (WEB) offshore field was placed on the production map, increasing the field’s output from about 25 to 37 million cubic feet per day (mmcf/d). The project is being developed and produced through a local joint‑venture vehicle (PetroWeb) with Cheiron as the operator/lead developer.
shipping
QatarEnergy Markets LNG Tankers for Charter Amid Ongoing Production Shutdown
QatarEnergy is offering ten liquefied natural gas (LNG) tankers for lease that are currently positioned outside the Strait of Hormuz, according to industry sources, as the company deals with a production halt at its 77 million tons per year (mmt/y) facility after the escalation of the U.S.–Israel war with Iran disrupted shipping through the Strait of Hormuz.
General Assembly
Petro Shorouk Reveals $96 Mn Additional Investments in FY 2025/26
Petro Shorouk revealed the injection of $96 million in additional investments during the current fiscal year (FY) 2025/26, the company’s Chairman, Tharwat El Gendy, pointed out during the company's general assembly to approve the revised investment plan for the current fiscal year and the investment plan for the FY 2026/27.
Zohr
Petrobel Increases 2025/26 planned investments to $460 Mn
Belayim Petroleum Company’s (Petrobel) investment plan for the fiscal year (FY) 2025/26 has been increased to approximately $460 million, Tharwat El Gendy, Petrobel’s Chairman, announced in the company's general assembly to approve the revised investment plan for the current fiscal year and the investment plan for the FY 2026/27.
Nile delta
Harbour Energy Briefs Badawi on Developments in Dissouq field
Ezz, the first well in Harbour Energy’s recent gas discovery at the Dissouq field, has been brought into production, lifting the field’s gas and condensate output to about 14,000 barrels of oil equivalent per day (boe/d). The second well is expected to come online soon, and the company plans to drill additional wells in the near future, Sameh Sabry, Harbour Energy’s Executive Vice President for the Middle East and North Africa, said during a meeting with Karim Badawi, Minister of Petroleum and Mineral Resources. The meeting addressed work progress at the onshore Disouq field, where Harbour Energy serves as the operator, as well as joint investment plans with bp for the offshore West Nile Delta fields, where BP is the lead operator, and Harbour is a primary partner.
Egyptian Prime Minister
Madbouly inspects SUMED Petroleum Port at Ain Sokhna
Egyptian Prime Minister Mostafa Madbouly conducted a tour of the SUMED Petroleum Port, inspecting the port’s petroleum products and liquefied natural gas (LNG) handling and storage terminal.
