- Crude Oil (WTI) 92.47 USD/bbl 1.37%
- Crude Oil (Brent) 96.28 USD/bbl 0.00%
- NYMEX Natural Gas 2.94 USD/MMBtu -1.34%
- OPEC Basket Price 98.50 USD/bbl 0.21%
OPEC
OPEC+ Keeps October Oil Output Policy Unchanged as Iran War Limits Supply
OPEC+ kept its oil production policy unchanged for October as disruptions from the Iran war continue to restrict crude exports through the Strait of Hormuz and limit the group’s ability to influence physical supply.
Cooperation petroleum company
Badawi Directs CPC to Develop Five-Year Expansion Plan as Bunkering Volumes Surge 610%
Karim Badawi, Minister of Petroleum and Mineral Resources, directed Cooperation Petroleum Company (CPC) to prepare a five-year plan to expand its products and services into neighboring markets after the company reported strong growth in FY 2025/26.
Vaalco Energy
Vaalco Appoints Anwar Husen to Lead Egypt JV with EGPC, Petrobakr
US Vaalco Energy has appointed Anwar Husen as the General Manager and Managing Director of Vaalco's Joint Venture company with the Egyptian General Petroleum Corporation ((EGPC) and Petrobakr Petroleum Company, according to Vaalco's statement on LinkedIn.Â
Fiscal Year Results
El Hamra Oil Produces 4,600 bbd/d in FY 2025/26
El Hamra Oil Company reported an average oil production rate of 4,600 barrels per day (bbl/d) during the 2025/2026 fiscal year (FY), according to the company’s results presented during its General Assembly meeting. The company began its exploration drilling campaign in July 2026 with the Zain-1X Sidetrack appraisal well. The company plans to proceed with drilling the next appraisal well, NE Yidma#01X Sidetrack, in September 2026.
production
BORAPETCO Surpasses FY 2025/26 Production Target by 4%
Borg El Arab Petroleum (BORAPETCO)exceeded its FY 2025/26 production target by 4%, reaching 4,322 boe/d, supported by drilling, facility upgrades, and operational efficiency initiatives.
Egypt
GPC Posts Record 12 Oil Discoveries in FY2025/26, Plans Horizontal Drilling
The General Petroleum Company (GPC)  made 12 Oil discoveries during fiscal year (FY) 2025/26, its highest annual discovery rate on record, Chairman Mohamed Abdel Meguid said during the company's general assembly meeting to approve the company’s FY 2025/26 results, attended by Karim Badawi, Minister of Petroleum and Mineral Resources, and senior officials from the ministry, the Egyptian General Petroleum Corporation (EGPC), and other sector entities. As Egypt's very first national oil and gas company, the state-owned GPC has been a driving force in the country's energy sector since its establishment in 1957. Focused on exploration, development, and production, GPC maintains an active operational footprint across key Egyptian territories, such as Sinai, the Gulf of Suez, and both the Eastern and Western Deserts. it has an average output of around 77,000 barrels of oil equivalent per day (boe/d),
Apex International Energy
PetroFarah Increases FY25/26 output to 10,500 boe/d, drills 15 wells
Farah Petroleum (PetroFarah) recorded average production of around 10,500 barrels of oil equivalent per day (boe/d) during fiscal year 2025/26, while advancing drilling, development, cost‑optimization and operational efficiency programs, Chairman Tamer Idris said. Speaking at the company’s general assembly meeting, chaired by Egyptian General Petroleum Corporation (EGPC) CEO Salah Abdel Kerim, Idris noted that PetroFarah drilled 15 wells (13 development and two exploration) and brought 14 online. He added that the company also achieved positive results from well workover and recompletion activities.
Petroleum Products
TAQA Arabia to Invest EGP 1.4 Bn in New Fuel Depot
TTAQA Arabia’s Board of Directors has approved establishing a new petroleum products depot in Greater Cairo, with an estimated investment of about EGP 1.4 billion, according to a disclosure submitted to the Egyptian Exchange (EGX). TAQA Arabia’s subsidiary, TAQA for Petroleum Products Marketing, will establish the depot to supply gasoline and diesel to its own operations as well as to service stations run by other companies in the Egyptian market.
