- Crude Oil (WTI) 86.64 USD/bbl -0.17%
- Crude Oil (Brent) 93.60 USD/bbl -0.65%
- NYMEX Natural Gas 2.77 USD/MMBtu -0.36%
- OPEC Basket Price 92.84 USD/bbl 1.72%
Ministery of Petroleum and Mineral Resources
Badawi Hails Refinery Effeciency Drive at Alexandria Petroleum
Karim Badawi, Minister of Petroleum and Mineral Resources, said that higher crude supplies and refinery efficiency projects have boosted production at Alexandria Petroleum Company, helping to meet local demand and reduce Egypt’s import bill.
El Hamra Petroleum Port
Badawi Commends the Launch of Fujairah Alamein Oil and Gas Free Zone
Egypt and the UAE have moved to implement plans for a petroleum logistics zone at El Hamra Petroleum Port in New Alamein, following the establishment of Fujairah Alamein Oil and Gas Company.
Energean
MoPMR, Energean Discuss Expanding Meditrranean Gas Production
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Mathios Rigas, CEO of Greek company Energean, to discuss expanding exploration and natural gas production activities in the Mediterranean.
Formentera Partners
SLB, Formentera Plan to Reactivate Oil Rigs in Venezuela
Global technology company SLB and private equity firm Formentera Partners are working to reactivate oil drilling rigs in Venezuela or potentially bring additional rigs into the country in the coming months, executives from both firms said on Wednesday during a conference in Houston. Formentera is in talks with international oilfield service providers to import drilling rigs, while SLB plans to reactivate up to 15 rigs already in Venezuela, according to Reuters. Up to four of SLB’s rigs could return to operation this year, depending on contracts with oil producers.
Russia
Russia Reimposes Fuel Sales Limits in Moscow as Gasoline Shortages Deepen
Russian fuel stations have reimposed gasoline sales limits in Moscow as a renewed supply crunch, driven by Ukrainian drone attacks on oil refineries and elevated seasonal demand, spreads to the capital, according to Reuters. Gazprom Neft has capped gasoline sales at 40 liters per customer at automated stations and 60 liters for gasoline at regular stations, while Rosneft has limited gasoline purchases to 30 liters per vehicle nationwide.
Turkey
Türkiye Offers Support for Oil, Gas Exploration in Syria
Türkiye has offered to support Syria in oil and gas exploration, including seismic surveys and drilling, as part of expanding energy cooperation between the two countries. The deal also includes plans to boost electricity transmission capacity and develop phosphate resources through a new memorandum of understanding.
mining industries
Egypt Breaks Ground on $658 Mn Abu Tartour Phosphoric Acid Complex
Egypt has laid the foundation stone for the first industrial complex to produce phosphoric acid from locally mined phosphate rock in the Abu Tartour Plateau in New Valley. The project, worth $658 million investments, will produce 250,000 tons per year (t/y) of high-concentration commercial-grade phosphoric acid in its first phase. Phosphoric acid is a key raw material used in fertilizer production.
General Assembly
Petrosalam Targets Higher Crude Oil Output After Reaching 2,547 bbl/d
Petrosalam achieved average daily crude oil production of 2,547 barrels per day (bbl/d) and recorded 1.6 million safe working hours, according to Chairman Abdel Hamid Hussein Gewaily. This came during the general assembly meetings of the company, chaired by Egyptian General Petroleum Corporation (EGPC) CEO Salah Abdel Kerim, to approve its operational results during FY 2025/26.
