- Crude Oil (WTI) 71.41 USD/bbl -0.93%
- Crude Oil (Brent) 75.22 USD/bbl -0.90%
- NYMEX Natural Gas 2.94 USD/MMBtu 0.00%
- OPEC Basket Price 76.25 USD/bbl -2.19%
World Mining Data 2026 report
Egypt Ranks 14th in Kaolin, 24th in Talc Globally
Egypt ranked among the world's leading producers of kaolin and talc in the World Mining Data 2026 report, reflecting strong growth in mineral output. Building on this momentum, the government launched the Open Blocks System to attract investment, expand mineral exploration, and promote value-added mining industries.
Arctic exploration
IEA Urges EU to Rethink Arctic Drilling Ban
The International Energy Agency (IEA) CEO, Fatih Birol, has called on the European Union (EU) to reconsider its stance against Arctic oil and gas exploration as the bloc works to safeguard future energy supplies, Reuters reported.
US -Iran war
Oil Market Risks Breaking $100, Eni CEO Warns
Claudio Descalzi, CEO of Italy’s state‑controlled energy group Eni, warned that if the Middle East conflict drags on, the global oil market will break out of its current $80–$100 band by early 2027, fueling inflation and curbing energy demand.
US sanctions
Cuba Suffers Second Nationwide Power Grid Collapse in One Week
Cuba's national power grid collapsed on Friday, marking the second nationwide blackout this week and the fourth major outage this year, according to Reuters. Energy Minister Vicente de la O Levy said authorities were working to restore the National Electric Power System, a complex situation amid all the difficulties we face on a daily basis. The latest collapse came as part of the country, including Santiago de Cuba, were still disconnected due to severe fuel shortages following Monday's nationwide blackout, which affected the island's around 10 million residents. Most electricity services had been restored by Tuesday.
North Cleopatra
Badawi Inspects Shell’s Velox‑1X Well, Deepest in Mediterranean
Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), inspected Shell Global's drilling operations at the "Velox-1X" exploratory well aboard the drilling vessel Stena IceMax in the North Cleopatra area of the Herodotus Basin in the Mediterranean Sea.The Drilling operations, which will reach a depth of 6,000 meters- the deepest offshore well in the region-, will be undertaken by Shell in cooperation with Chevron, Tharwa Petroleum, the Egyptian Natural Gas Holding Company (EGAS) and QatarEnergy.
Suez
Egypt Grants Golden Licenses to Two BESS Projects in Aswan
The Cabinet granted golden licenses for two Battery Energy Storage System (BESS) projects operated by Nefertiti Energy Storage Batteries Company and Horus Energy Storage Batteries at the Benban area in Aswan governorate. The Golden license is a one-stop approval given to major investment projects. It allows investors to build, run, and manage a business using a single document, replacing dozens of permits from different government offices
HSE
EGPC CEO Tests Safety Readiness at Misr Petroleum Mansoura Depot
Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), paid a surprise visit to Misr Petroleum Company’s depot in Mansoura, Dakahleya Governorate, to inspect operations and assess the efficiency of petroleum receipt and delivery, shipping points, procedures, firefighting systems, and compliance with occupational health and safety standards during loading activities.
Large Scale Renewables
TotalEnergies Divests Distributed Solar Assets in Europe
TotalEnergies SE has sold its 170-megawatt portfolio of distributed solar generation assets in Europe. The assets were acquired by Amarenco and AMPYR Distributed Energy, who will continue operations and supply existing customers. TotalEnergies did not disclose the financial terms of the transaction.
