- Crude Oil (WTI) 82.42 USD/bbl -3.42%
- Crude Oil (Brent) 88.69 USD/bbl -4.34%
- NYMEX Natural Gas 2.77 USD/MMBtu -0.36%
- OPEC Basket Price 94.91 USD/bbl 2.23%
Shell Takes FID on Phase 12a Development in Egypt’s WDDM Concession
Shell and its partners have taken a Final Investment Decision (FID) to develop Phase 12a in Egypt’s West Delta Deep Marine concession, comprising three deepwater subsea wells with first gas expected in 2028.
US Sanctions Wellbred Capital Over Links to Iranian Oil Network
The US has sanctioned Wellbred Capital and affiliated trading firms over alleged links to Iranian oil shipping magnate Mohammad Hossein Shamkhani and his global shipping network.
WASCO Targets Higher Gas Output Through New Wells
El Wastani Petroleum Company’s (WASCO) plans to boost gas output from existing fields by maximizing well productivity and reassessing formations and reservoirs and accelerating drilling and development activities based on updated geological and geophysical studies, Sally Salah El-Din, WASCO’s Chairwoman and Managing Director, said. Salah El-Din’s statement came during the field visit by Sayed Selim, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), to WASCO’s operations, where he reviewed current production rates, drilling programs, exploration activities and field development plans, according to a statement from the Ministry of Petroleum and Mineral Resources (MoPMR).
Aramco Signs Agreements Worth More Than $3.7 Bn With French Companies
Saudi Aramco has signed agreements and an MoU with French companies worth more than $3.7 billion, targeting supply chain resilience, drilling equipment procurement, and industrial AI and digital technology development.
TotalEnergies Moves Discounted Oil Through Hormuz as CEO Eyes Alternative Export Routes
TotalEnergies is moving discounted Middle Eastern crude through the Strait of Hormuz at a profit, even as higher shipping costs and security risks continue to restrict traffic through the waterway, CEO Patrick Pouyanne said at a Norwegian energy conference on Monday, Reuters reported.
PetroAmir Holds Output at 973 bbl/d, GANOPE Backs PetroSafwa
PetroAmir maintained average production at 973 b/d in FY 2025/26, while GANOPE called on Chinese partner NPIC to strengthen support for PetroSafwa’s petroleum activities and production growth.
Cyprus: Egypt Infrastructure Key to Cronos Gas Development
Cyprus sees the development of the Cronos gas field through Egypt as a model for commercializing additional Eastern Mediterranean resources, with existing Egyptian infrastructure central to the project's accelerated schedule and first gas targeted for 2028, Cypriot Energy Minister Michael Damianos told Middle East Economic Survey (MEES).
MRMIA Sets August Deadlines for Gold, Silver Bids
The Mineral Resources and Mining Industries Authority (MRMIA) has announced that bidding on several mining blocks will close between August 25–28, 2026, marking the latest phase in Egypt’s push to attract investment into its mineral sector. The deadlines cover silver and gold-bearing blocks, with extensions possible if dates coincide with public holidays.