- Crude Oil (WTI) 84.55 USD/bbl -3.06%
- Crude Oil (Brent) 89.75 USD/bbl -4.65%
- NYMEX Natural Gas 3.24 USD/MMBtu 4.52%
- OPEC Basket Price 91.99 USD/bbl -1.31%
investment
ExxonMobil Eyes Venezuela Return After Nearly 20 Years
ExxonMobil has signed a memorandum of understanding (MoU) with Venezuela's state-owned oil company PDVSA to assess upstream oil opportunities, marking a potential return to the country nearly two decades after its assets were expropriated, according to Reuters.
LNG Shipment
Hormuz LNG Shipments Reach Highest Level Since Iran War Began
Liquefied natural gas (LNG) tanker traffic through the Strait of Hormuz increased to 31 laden vessels in October, marking the highest monthly volume since the US-Iran conflict disrupted shipping in February 2026, according to vessel-tracking data cited by Reuters. Data from S&P Global Energy showed that 23 of the tankers were loaded at Qatar's Ras Laffan export terminal, while eight departed from the UAE's Das Island. The October figure compares with 23 LNG tankers recorded exiting the strategic waterway in September, indicating a gradual recovery in regional LNG shipments.
oil supply
Attack Targets Saudi Arabia’s East-West Oil Pipeline in Medina
Saudi Arabia's East-West oil pipeline was hit in an attack in the Medina region, but the incident caused no casualties or disruption to operations.
Aton Resources
Egypt's Mining Authority Holds Talks with International Companies to Boost Investment
Egypt's Mineral Resources and Mining Industries Authority (MRMIA) has held meetings with international mining companies to discuss ways to strengthen cooperation and attract further investment into the country's mining sector, according to statements issued by the authority.
Cheiron
EGAS, Cheiron Ink $42 Mn Natural Gas Exploration Agreement
The state-owned Egyptian Natural Gas Holding Company (EGAS) has signed a $42 Mn agreement with for natural gas exploration in the East Alexandria offshore area in the Mediterranean Sea with Egyptian exploration and production company Cheiron, according to a statement by the Egyptian Ministry of Petroleum and Mineral Resources on November 9.
Saudi Arabia
ADES Holding's 9M Revenue Rises 44% YoY on Africa, Offshore Growth
ADES Holding Company has reported a 44% year-on-year (YoY) surge in revenue to SAR 6.77 Bn ($1.8 Bn) in the first nine months (9M) of 2026, supported by stronger offshore activity, growth in West and Central Africa, and higher contributions from its Egyptian operations, according to a statement on November 9.
Acquisition
QatarEnergy Acquires Interest in Namibian Offshore Exploration Licens
QatarEnergy has acquired a participating interest in an offshore exploration block in Namibia from Chevron Namibia Exploration II, a subsidiary of Chevron, according to a press release on November 9.
Eastern Desert
Aton Resources Reviews Egypt Expansion Plans with MRMIA
Amro Ismail Elsharkawi, the newly appointed Chairman of Egypt’s Mineral Resources and Mining Industries Authority (MRMIA), met with Sherif Barakat, General Manager of Canadian mining company Aton Resources, to discuss opportunities for expanding cooperation in the coming period in Egypt.
