- 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, Libya Sign MoU on Oil, Gas and Mining Cooperation
Egypt and Libya have signed a memorandum of understanding (MoU) to deepen cooperation in the oil, gas, and mining sectors on the sidelines of the Libya Energy and Economic Summit in Tripoli, according to the Ministry of Petroleum and Mineral Resources.
Egyptian Prime Minister
PM Reviews Refinery Expansion, Strategy for Rare Earth Minerals
Prime Minister Mostafa Madbouly reaffirmed the government’s commitment to achieving petroleum self-sufficiency and positioning Egypt as a regional hub for rare-earth mineral processing, aiming to reduce the national import bill. Madbouly held separate meetings with Karim Badawi, Minister of Petroleum and Mineral Resources, and Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, to discuss developments in the mining sector, according to Cabinet statements.
the ministry five year plan
Badawi Outlines Strategy to Boost Production in 2026
Karim Badawi, Minister of Petroleum and Mineral Resources, has reaffirmed that the Ministry’s top priority is increasing domestic crude oil and natural gas production to reduce the national import bill and secure energy supplies for the Summer 2026 season. Badawi announced that the Ministry is set to launch a new package of incentives designed to encourage IOCs and Egyptian companies to invest in oil and gas production. He highlighted that the current year will see the drilling of more than 100 exploration wells, part of a broader program targeting approximately 500 wells by 2030.
Halliburton
Halliburton Delivers Strong Q4 2025 Results
Halliburton, an American oil service company, has reported a significant sequential improvement in its fourth-quarter (Q4) 2025 earnings, posting a net income of $589 million, compared to $18 million in the previous quarter, according to a press release by the company.
New Appointment
AVEVA Appoints Khaled Salah as VP of Africa
AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has appointed Khaled Salah as Vice President (VP) of Africa. In his new role, Salah will lead a team of nearly 30 people to execute the company’s growth strategy across the continent, reporting directly to Jesus Hernandez, Senior Vice President (SVP) for Europe, the Middle East and Africa (EMEA).
EGPC
EGPC launches New Platform for Environmental Monitoring
The Egyptian General Petroleum Corporation (EGPC) has launched a centralized digital platform to monitor, analyze, and evaluate the environmental performance of its affiliated companies, aiming to enhance transparency and operational efficiency across the sector. The platform aims to standardize mechanisms of collecting environmental data and digitally analyze them to improve operational efficiency, support informed decision-making, enhance data quality and accuracy, and increase transparency within the sector.
meeting
China's Xingfa to Invest $2 Bn for Phosphate Mining
China’s Xingfa Chemicals Group (XINGFA) has unveiled plans to invest up to $2 billion in a large-scale, three-phase industrial project in Egypt’s Golden Triangle region, focusing on integrated phosphate extraction and high-value chemical manufacturing. During a meeting on January 22, Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), discussed the proposal with a delegation led by Xingfa President Cheng Yali.
Chevron
Valero and Phillips 66 Secure First Venezuelan Crude Cargoes
US Gulf Coast refiners Valero Energy and Phillips 66 have purchased Venezuelan crude oil cargoes from independent trading houses, marking the first such transactions since Washington authorized the sale of up to 50 million barrels of the country's stranded reserves, according to Reuters.
