- Crude Oil (WTI) 96.24 USD/bbl -0.50%
- Crude Oil (Brent) 103.78 USD/bbl -1.12%
- NYMEX Natural Gas 2.90 USD/MMBtu 1.05%
- OPEC Basket Price 103.53 USD/bbl -10.64%
Supreme Energy Council
Egypt Approves Power Supply for 11 Industrial Projects
Egypt’s Supreme Energy Council has approved electricity and natural gas supplies for a number of industrial projects, including 11 projects reviewed at its latest meeting, as the government seeks to support industrial expansion and attract investment, according to a statement by the Ministry of Electricity and Renewable Energy on November 3.
ADNOC
ADNOC's XRG to Buy $1.45 Bn Stake in Australian LNG Project from Shell
XRG, the investment arm of UAE’s energy giant ADNOC, has agreed to acquire Shell’s interest in Australia’s North West Shelf project for $1.45 Bn, marking its first investment in Australian liquefied natural gas (LNG), according to a company statement on November 3.
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.
Egypt
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.
urea plant
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.
Girish Saligram
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.
cooperation
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.
South Korea
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).
