Energean’s long-running acquisition deal of Edison E&P is expected to be finalized in December of this year.

TransGlobe's production in October showed significant progress with approximately 12,162 barrels per day (bbl/d), a 1% increase from Q3 2020 and below the revised budget expectations, with Egypt producing 10,303 bbl/d.

The General Petroleum Company (GPC) allocated EGP 195 million for the discoveries made during the fiscal year (FY) 2019/20, Nabil Abdel Sadek, Executive Chairman of the Board of Directors, stated

Ganoub El Wadi Petroleum Holding Company (Ganope) drilled seven exploration wells resulting in two new discoveries, in the Geisum and Tawila fields, and Petromeliha field in the Gulf of Suez and increasing production rates by 5%.

Al-Hamra port is likely to increase the petroleum trade and exports by 1 million barrels per day (mmbbl/d) at an estimated cost of $100 million, Hamdy Abdel Aziz, the official spokesman of the Ministry of Petroleum and Mineral Resources stated.

Republican US senators had spoken with the Saudi Energy Minister, Abdulaziz bin Salman; Deputy Defense Minister Khalid bin Salman; and the Saudi ambassador to the United States, Reema bint Bandar bin Sultan to urge crude production cut.

Saudi Arabia's crude production hit record highs in early November following large orders made in early October in preparation for the loss of Iranian crude from the market.

Iraq oil exports from Kirkuk could reach 400,000 barrels per day (b/d), up from 300,000 b/d before production was halted in 2017.

Kuwait will continue its crude oil production, exploration and supply to the domestic market despite suffering from torrential rainfalls.

Oil prices have dropped by more than $20 since October, falling to $66.5 per barrel from a peak of $86.7.