- 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%
Egypt
Egypt to Build $10Bn Green Ammonia project in Ras Banas
Egypt’s Minister of Industry, Khaled Hashem, met with a delegation from Egypt Amun Green Ammonia (EAGA), a consortium formed by Poland’s Hynfra and Egypt’s Coxswains, to discuss a planned green ammonia project. The initiative foresees initial investments of $5 billion, rising to $10 billion upon reaching full capacity.
Methanex
Methanex Egypt Local Output Up Tenfold in 15 Years
The overall production of Methanex Egypt, the country's sole producer of Methanol, reached 1.1 million tons (mmt) in 2025, recording 1.5 million safe man-hours without injuries, Mohamed Shindy, Managing Director of Methanex Egypt, told the company’s General Assembly convened to approve the 2025 fiscal year (FY) financial performance. The company has exported over 12 mmt to European and Asian markets since its inception, securing consistent foreign currency inflows for the Egyptian economy
EGPC
Badawi Outlines Five-Year Infrastructure Plan to Reduce Imports
Karim Badawi, Minister of Petroleum and Mineral Resources, confirmed that the petroleum sector is executing an ambitious five-year plan to increase production by upgrading and expanding existing infrastructure, according to a statement by the Ministry. The strategy aims to rapidly integrate targeted increases in reserves and production into the national grid, preventing bottlenecks and optimizing additional potential. Primarily, these efforts focus on reducing the national import bill, meeting domestic market requirements, and supporting the expansion of value-added industries.
Golden Pass
QatarEnergy Marks First LNG Export From Golden Pass Project in Texas
QatarEnergy has celebrated the first liquefied natural gas (LNG) export cargo from the Golden Pass LNG project in Sabine Pass, Texas, marking a key milestone toward full commercial and export operations. Golden Pass LNG is a joint venture (JV) between QatarEnergy, which holds a 70% stake, and ExxonMobil with 30%. The partners reached a final investment decision (FID) exceeding $10 billion in February 2019, making it one of the largest investments in the history of the US LNG sector.
Egypt
SCZONE , UNIDO Launch National Clean Hydrogen Program
The General Authority for the Suez Canal Economic Zone (SCZONE), in collaboration with the United Nations Industrial Development Organization (UNIDO), announced the launch of Egypt’s National Clean Hydrogen Program. This initiative is designed to advance Egypt’s transition toward a competitive, low-carbon economy anchored by green hydrogen production and export.
Russia
Russia to Reroute Kazakh Crude Oil Volumes Amid Druzhba Pipeline Disruptions
Russia will reroute crude oil volumes originating from Kazakhstan that had been destined for Germany through the Druzhba pipeline to alternative export channels beginning May 1.
Supreme Council of Energy Review Supply Security, Renewable Drive
Prime Minister Mostafa Madbouly convened the Supreme Council of Energy today to review the status of electricity, petroleum products, and natural gas supplies, according to a statement by the cabinet. During the session, the Council affirmed its commitment to securing energy requirements for national and industrial projects, ensuring operational sustainability while maximizing productive capacities. This strategic coordination is designed to bolster economic growth and accelerate the localization of domestic industry amidst prevailing regional and international challenges. Attended by Minister of Petroleum and Mineral Resources Karim Badawi and Minister of Electricity and Renewable Energy Mahmoud Esmat, the session focused on securing the energy supplies required for diverse industrial activities.
Solar Energy
Europe Rooftop Solar Demand Surges Amid Energy Market Turmoil
Demand for rooftop solar systems across Europe has risen sharply following the outbreak of the Iran war, as households increasingly seek protection from escalating power costs driven by severe global energy market disruptions.
