- Crude Oil (WTI) 81.78 USD/bbl -0.86%
- Crude Oil (Brent) 88.26 USD/bbl 0.18%
- NYMEX Natural Gas 2.91 USD/MMBtu 0.00%
- OPEC Basket Price 83.39 USD/bbl -1.18%
Oman Vision 2040
PETROJET, ENPPI Consortium Secures Over $6 Bn Framework Agreement in Oman
A consortium comprising PETROJET and ENPPI has secured a long-term Engineering, Procurement, and Construction (EPC) Framework Agreement with Petroleum Development Oman (PDO), the country’s largest oil and gas exploration and production company.
The Energy and Environment Committee of Egypt's House of Representatives
Parliament Committee Approves Approves EGAS, Cheiron Mediterranean Agreement
Egypt's House of Representatives' Energy and Environment Committee has approved a draft law authorizing EGAS to sign a new offshore exploration and production agreement with Cheiron for the East Alexandria Offshore block in the Mediterranean.
Production Committee
ECHEM Reviews ETHYDCO Operations, Convenes 4th Production Committee
Alaa El-Din Abdel Fattah, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), inspected the industrial complex of its affiliate, the Egyptian Ethylene and Derivatives Company (ETHYDCO). The facility produces ethylene and polyethylene, which are utilized across numerous downstream industrial applications.
technology
MoPMR Reviews Wadico's Phosphate Production Operations in Aswan
Officials from the Ministry of Petroleum and Mineral Resources (MoPMR) conducted an inspection visit to the phosphate production sites of the New Valley Mineral Resources and Oil Shale Company (Wadico) in the El Shaghab area of Edfu, Aswan Governorate, as part of the ministry's strategy to advance Egypt's mining sector.
Risk
IEA Urges Restoration of Strait of Hormuz Oil Flows to Safeguard Energy Security
The IEA warned that prolonged disruptions to oil flows through the Strait of Hormuz could threaten global energy security, despite emergency oil stock releases and increased US production helping to ease market pressures.
OMV Austria
Libya’s Essar Discovery Revealed Commercially Viable
Libya’s National Oil Company (NOC) confirmed that the “Essar” discovery, made by OMV Austria, is commercially viable. The announcement follows the drilling of well B1-106/4 and the completion of the company’s development plan evaluation, which verified the project’s economic feasibility.
oil and gas
NORPETCO Drills First Development Well in FY 2026/27
North Bahariya Petroleum Company (NORPETCO) has completed its first development well under its fiscal year (FY) 2026/2027 drilling program, reaching the target depth four days ahead of schedule and saving an estimated $250,000. The Abrar-98 well, located in the company's Western Desert concession, reached its final depth in just nine days, compared with the planned 13 days, according to the company’s statement.
Concophilips
International Energy Companies Sign Over $60 Bn in Agreements with Iraq
Several international energy companies, including Chevron, ConocoPhillips, and bP, signed non-binding agreements and memorandums of understanding (MoU) with Iraq worth more than $60 billion to advance oil and gas development, strengthen energy infrastructure, and expand export options.
