- 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%
TotalEnergies
TotalEnergies Lifts Q4 Output 5% to Cushion Crude Price Slump
TotalEnergies expects its fourth-quarter (Q4) 2025 financial results to broadly align with previous year levels, as refining margins and strategic asset sales successfully offset a downturn in crude oil and liquefied natural gas (LNG) prices, according to Reuters. In a trading statement, the French energy company said cash flow from operations is projected to remain broadly stable year-on-year, driven by incremental upstream production growth and continued improvement across downstream businesses.
ACWA Power
El-Khatib Advances Green Energy Partnerships with ACWA Power
Hassan El-Khatib, Minister of Investment and Foreign Trade, met with the CEOs of Saudi Arabia’s ACWA Power and Greece’s Public Power Corporation (PPC) on the sidelines of the World Economic Forum (WEF) in Davos to accelerate Egypt’s transition into a regional green energy and water desalination hub. The Saudi group currently operates two solar plants in Egypt with a combined capacity of 350 megawatts (MW), which the Minister noted are performing beyond expectations. Parallel to these operations, the 1.1-gigawatt (GW) Shams solar project.
new well
GUPCO Lifts Output to 65,000 bbl/d as Al Wasl-4 Comes Onstream
Gulf of Suez Petroleum Company (GUPCO) has brought on stream the development well, Al Wasl-4 in North Safa field. The well is producing around 2,250 (bb/d) of crude oil and approximately 1.3 million cubic feet per day (mmcf/d) of natural gas, contributing to rise in crude output of GUPCO reaching 65,000 bbl/d. The well supports the company’s strategy to maximize recovery from mature assets through integrated appraisal, development drilling, and optimization of remaining reserves.
renewable energy
Investment Minister in WEF: Egypt Eyes 900 GW Solar Potential
The Minister of Investment and Foreign Trade Hassan El-Khatib highlighted that Egypt possesses enormous potential in the field of renewable energy, especially solar energy, where approximately 700 to 900 gigawatts (GW) can be generated from the Western Desert alone. This came during his participation in a high-level panel discussion as part of the World Economic Forum (WEF) in Davos, Switzerland. Additionally, in an interview with Bloomberg, on the sidelines of the forum, El-Khatib revealed that recent energy pricing restructures have successfully addressed long-standing fiscal imbalances.
Egypt
Egypt, Germany Deepen Ties in Gas, Renewables and Technology
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Frank Wetzel, State Secretary at the Federal Ministry for Economic Affairs and Energy of Germany to discuss means to strengthen bilateral cooperation in the energy sector. Both sides reaffirmed the depth of Egyptian-German relations at various levels and stressed the importance of further developing and strengthening ties to expand cooperation in gas, renewable and green energy, technology transfer, and human capacity building.
heads of agreement (HoA)
ADNOC Gas Signs $3 Billion Deal with HPCL for 10-Year Gas Supply
ADNOC Gas plc and its subsidiaries have signed a sales and purchase agreement with Hindustan Petroleum Corporation Limited (HPCL), valued between $2.5 and $3 billion over a ten-year period. ADNOC Gas has converted a previously signed Heads of Agreement (HoA) with Hindustan Petroleum Corporation Limited (HPCL) into a long-term sales and purchase agreement (SPA) valued at $2.5–$3 billion. The deal covers the export of 0.5 million tons per year (mtpa) of LNG from ADNOC Gas’ Das Island facility, which has a capacity of 6 mtpa and has delivered over 3,500 cargoes globally.
Gold exports
El-Khatib Discusses Gold Investment Expansion with Evolve Holding, Stonex
Minister of Investment and Foreign Trade Hassan El-Khatib met with a delegation from Evolve Holding and its partner, Stonex, to discuss expanding their investments in Egypt’s precious metals sector, according to a Cabinet statement. El-Khatib emphasised the strategic importance of the sector, noting that Egypt’s gold exports have surged to reach $6 billion.
Gulf of Suez
PetroGulf Boosts Drilling Efficiency,Cuts Costs by $700,000
PetroGulf Misr has successfully implemented an advanced drilling model at the GNN-16 well in the Gulf of Suez, reducing operational costs by $700,000 and shortening the drilling timeline by 5.5 days, according to a Ministry of Petroleum and Mineral Resources (MoMPR) statement.
