- Crude Oil (WTI) 94.06 USD/bbl 1.03%
- Crude Oil (Brent) 99.12 USD/bbl 1.46%
- NYMEX Natural Gas 2.88 USD/MMBtu -2.37%
- OPEC Basket Price 101.12 USD/bbl 3.50%
Gamesa
Gemsa, Zaafarana Oilfields Post 15 Mn Safe Hours, $2 Mn Savings in FY2025/26
The Gemsa and Zaafarana oil fields recorded strong health, safety and environmental (HSE) performance, achieving 15 million safe working hours and cost-saving initiatives worth around $2 million in Fiscal Year(FY) 2025/2026. The Gemsa and Zaafarana fields, are operated by GAMPETCO, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Cheiron .
Appointment
China’s NPIC Appoints Deng Yong Country GM in Egypt
North Petroleum International Company (NPIC), the Egyptian subsidiary of China ZhenHua Oil Company, Ltd., has appointed Deng Yong as its new Country General Manager in Egypt. NPIC said Deng brings extensive industry leadership and expertise to the company and will oversee its next phase of development in Egypt, with a focus on expanding its footprint, improving operational performance, and strengthening long-term strategic partnerships in the country's energy sector.
Germany
Germany Risks Winter Gas Shortage as Storage Levels Remain Low
Germany risks facing a gas shortage this winter if temperatures fall sharply, as low storage levels could leave the country exposed during periods of extreme cold, Reuters reported, citing Germany’s gas storage industry association INES.
Strait of Hormuz
UAE Boosts Clean Energy, Trade Routes Amid Hormuz Crisis
The United Arab Emirates (UAE) is expanding ports, pipelines, railways, and alternative trade corridors to reduce its reliance on the Strait of Hormuz and safeguard energy exports and trade amid the ongoing US-Iran conflict, UAE presidential adviser Anwar Gargash said. Speaking at the Hili Forum in Abu Dhabi, Gargash said the UAE’s energy exports and broader economic activity would not be “held hostage” by the conflict.
Vitol
Global Diesel Market Faces Further Supply Tightness Ahead of Winter
Global diesel supply is expected to remain tight ahead of winter as refinery disruptions, Russia’s export ban, and limited spare refining capacity push inventories and fuel availability lower.
Egypt
Badawi Appoints New Petrogas Chairman and HSE General Manager
Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi has appointed Ahmed Gaber El Halwany as chairman of state-owned Petroleum Gases Company (Petrogas), while Zain El Abdeen Ahmed El Saghir was named general manager for occupational health, safety and environmental protection (HSE) for the company. The appointments are part of the ministry’s efforts to refresh leadership positions across the petroleum sector, improve operational efficiency, and strengthen the implementation of HSE standards.
Egyptian Petrochemicals Company
EPC Produces 78,000 Tons of PVC as Exports Reach 24,000 Tons
Egyptian Petrochemicals Company (EPC) produced around 78,000 tons of polyvinyl chloride (PVC) in FY 2025/26 while increasing exports to 24,000 tons as the company expanded sales into African and Latin American markets.
Minister of Petroleum and Mineral Resources
Badawi Targets 80% Refinery Utilization to Cut Egypt’s Fuel Imports
Karim Badawi, Minister of Petroleum and Mineral Resources, said raising the utilization rate of Egypt’s refineries from 66% to 80% will increase reliance on locally refined petroleum products and help reduce the country’s fuel import bill.
