- Crude Oil (WTI) 88.99 USD/bbl -0.53%
- Crude Oil (Brent) 100.92 USD/bbl 0.80%
- NYMEX Natural Gas 3.23 USD/MMBtu 3.86%
- OPEC Basket Price 108.59 USD/bbl -2.80%
Western Desert
EOGC 2026 Technical Workshops Kick Off at Badr 3
For the third consecutive year, the Egypt Oil & Gas Group has launched its annual technical workshop series as part of the preparations for the Egypt Oil & Gas Convention (EOGC), which will mark its 12th edition this year. The series kicked off October 6–7 with a two-day session at the Badr-3 field in Egypt’s Western Desert. Organized in collaboration with the Egyptian General Petroleum Corporation (EGPC), the workshops provide a platform for field engineers in similar operating environments to exchange knowledge, share best practices, and tackle common technical and operational challenges. Throughout the two days, participants presented practical solutions focused on boosting operational efficiency and elevating safety standards. Key insights and recommendations from the workshops will be showcased at EOGC 2026, set to take place in late November..
The Marjan offshore field
KBR Secures Aramco Contract to Upgrade Marjan Offshore Facilities
KBR has secured an Aramco project to upgrade processing, gas compression, and power infrastructure across the Marjan offshore field in the Arabian Gulf.
IEA
IEA to Work Out Details of G7 100 mmbbls of Oil Release
The International Energy Agency (IEA) is expected to work out the details of a planned 100 million-barrel release of crude oil and petroleum products from emergency reserves at a meeting next week, as markets seek clarity on how much diesel Europe and the United States will make available to ease tight supplies and record-high prices, Reuters reported, citing sources familiar with the matter.
Oil Prices
EIA Raises Oil Price Forecasts as Iran War Tightens Global Markets
The EIA raised its oil price forecasts for 2026 and 2027 as the Iran war disrupts Middle East supplies, tightens diesel markets, and drives global inventories lower.
EGPC to Launch Multi-client Seismic Survey in Western Desert
The Egyptian General Petroleum Corporation (EGPC) has awarded a multiclient seismic survey in open areas of the Western Desert to a specialized company, with work expected to begin soon, said Ahmed Kamal, EGPC’s Deputy CEO for Exploration, in his opening remarks at EGPC’s periodic EGPC SCOUT exploration forum. The survey will cover areas that have not been subjected to updated studies, supporting the evaluation of exploration prospects and efforts to attract new investment.
The Minister of Petroleum and Mineral Resources Karim Badawi
Madbouly Reviews Energy Security, Financial Stability Measures
Prime Minister Mostafa Madbouly reviewed measures to secure petroleum supplies, strengthen strategic reserves, boost domestic production, and maintain financial stability amid geopolitical uncertainty.
North Gargoub Offshore block
EUG Reviews North Gargoub Offshore Block in 2026 Bid Round
The Egypt Upstream Gateway (EUG) has provided an overview of the North Gargoub Offshore block, one of the 14 blocks included in the Ministry of Petroleum and Mineral Resources (MoPMR)’s 2026 international bid round. The block is located in the southwestern corner of the North West Mediterranean Sea region, northwest of Matruh city, and covers an area of 6,800 square kilometers (km²), with water depths ranging from around 50 to 2,800 meters (m).
Saudi Arabia
Saudi East-West Pipeline Oil Flows Reach 5.8 mmbbl/d
Saudi Arabia has restored oil flows through its East-West Pipeline to 5.8 million barrels per day (mmbbl/d), Energy Minister Prince Abdulaziz bin Salman said, underscoring the kingdom’s progress in rebuilding an alternative export route amid continued disruption to oil shipments through the Strait of Hormuz, according to Reuters.
