Oil | Egypt Oil & Gas - Part 3
OPEC+ Eight Agree 206,000 bpd Output Increase as Gradual Unwind of Cuts Continues
Eight members of the OPEC+ alliance have agreed to increase oil production by 206,000 barrels per day (bbl/d) starting in May 2026, as part of a gradual plan to ease earlier supply cuts and support market stability. T...
Iraq Achieves Full Refining Capacity Across New Plants
Iraq’s Ministry of Oil stated that newly developed refineries are now operating at 100% capacity, marking a major advance in the country’s refining sector and positioning Iraq among petroleum-product exporters that me...
ExxonMobil, Chevron Signal Interest in Venezuela Amid Sanctions Easing
US energy majors ExxonMobil and Chevron have expressed tentative interest in re-engaging with Venezuela’s petroleum sector following the easing of US sanctions, provided that the country establishes robust legal and p...
Egypt Makes New Offshore Oil Discovery in Gulf of Suez
The Ministry of Petroleum and Mineral Resources (MoPMR) announced a new oil discovery offshore the Gulf of Suez, following the successful drilling of the Northeast Ramadan Crystal exploration well (NER-1X). The well i...
MoPMR Boasts Gradual Rise in Oil, Gas Production in FY 2024/25
“Egypt’s Oil and Gas production is back on Track, with the sector succeeding in overcoming the decline witnessed in recent years to start a phase of gradual production increases,” the Ministry of pet...
India to Continue Purchasing Russian Oil Regardless Trump’s Warnings
Two sources from the Indian government stated that the country will continue to buy oil from Russia despite U.S President Donald Trump’s warnings to impose more penalties, Reuters reported. The sources confirmed...
Oil Prices Surge, LNG Supplies at Risk if Strait of Hormuz Closes: IEA Report
The International Energy Agency (IEA) stated in a report that any disruption to transit flows in the Strait of Hormuz (SoH) would have significant consequences for global oil and LNG markets. The report, issued in Dec...
US Firm Sun Africa Seeks Energy, Mining Cooperation with Egypt
As part of efforts to enhance cooperation between Egypt and the US in the Energy Sector, Karim Badawi, Minister of Petroleum and Mineral Resources, met with Adam Cortese, CEO of Sun Africa, and his accompanying delega...
