- Crude Oil (WTI) 93.76 USD/bbl -6.90%
- Crude Oil (Brent) 100.86 USD/bbl -8.35%
- NYMEX Natural Gas 2.90 USD/MMBtu -1.02%
- OPEC Basket Price 103.53 USD/bbl -10.64%
UAE
Egypt, UAE Discuss Expanding Oil, Gas Cooperation at ADIPEC 2026
Egypt and the UAE have discussed expanding bilateral cooperation in oil, gas and energy, including increasing Emirati investment in Egypt’s petroleum sector and boosting the participation of Egyptian companies in major UAE projects, according to a statement by the Egyptian Ministry of Petroleum and Mineral Resources on November 3.
MOPCO
MOPCO Reports Uninterrupted Operations Despite Reported Gas Supply Cuts to Fertilizer Plants
Misr Fertilizers Production Company (MOPCO) confirmed that its operations continue uninterrupted despite reports of a 20% reduction in natural gas supplies to fertilizer plants amid rising import costs. In a disclosure to the Egyptian Exchange (EGX), the company said it is adjusting production rates in line with available natural gas supplies, but did not specify whether the reported 20% reduction has been applied to its facilities or disclose any impact on output.
Natural Gas
KIMA Cuts Natural Gas Intake by 20% Following Supplier Directive
The Egyptian Chemical Industries (KIMA), a listed fertilizer producer, has reduced its natural gas intake by 20% starting November 1 following a directive from its gas supplier, according to a disclosure to the Egyptian Stock Exchange (EGX). The company noted that its urea plant continues to operate normally adding that it is currently assessing the impact of the reduced gas supplies on its operations and will disclose the findings once the assessment is completed.
mature fields
Weatherford to Support Egypt's Efforts to Boost Production, Improve Efficiency
Egypt and US-based oil services company Weatherford explored ways to boost domestic oil and gas production through advanced drilling technologies, digital solutions, production optimization, and expanded technical cooperation.
meeting
Egypt, Honeywell Move to Expand Cooperation on Refinery Upgrades
Egypt and international technology company Honeywell agreed to intensify coordination in the coming period and hold specialized technical meetings between the company and petroleum sector firms to identify priority areas for cooperation in refinery upgrade and emissions monitoring projects to support the modernization of the petroleum sector and improve operational efficiency. This came during a meeting of Karim Badawi, Minister of Petroleum and Mineral Resources, with Anant Maheshwari, President of Strategy and President of Global Regions at Honeywell Technologies, on the sidelines of the ADIPEC 2026.
Oil
South Korea's KNOC Reviews Egypt Expansion Plans with Badawi
Egyptian Minister of Petroleum and Mineral Resources Karim Badawi and Son Joo-suk, President of Korea National Oil Corporation (KNOC) discussed increasing the South Korean company’s investments in Egypt's oil and gas sector, boosting production from its existing concessions, and exploring joint projects in petroleum product storage and trading. The discussions took place during a meeting on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2026).
Chevron
Egypt, Chevron Discuss Positive Results from Nargis-2 Well and Aphrodite Gas Development
Egypt and Chevron discussed the positive results of the Nargis-2 appraisal well and progress on connecting Cyprus' Aphrodite gas field to Egypt's natural gas infrastructure during ADIPEC 2026.
Vaalco Energy
Vaalco Energy Champions Healthcare and Special Education Initiatives in Egypt
Vaalco Energy, a world-class operator in African oil and gas production and development, implemented three community service projects in Egypt during fiscal year (FY) 2025/2026, focusing on healthcare, medical services, and special education in communities where the company operates in the Red Sea Governorate.
