- Crude Oil (WTI) 96.33 USD/bbl -1.61%
- Crude Oil (Brent) 103.98 USD/bbl -2.32%
- NYMEX Natural Gas 2.90 USD/MMBtu 0.35%
- OPEC Basket Price 103.53 USD/bbl -10.64%
LNG
India’s Petronet Seeks US LNG Under Renewed Qatar Supply Deal
India’s Petronet LNG is in talks with Qatar to source some liquefied natural gas (LNG) from the US under a renewed long-term supply agreement starting in 2028, as New Delhi seeks to diversify imports following disruptions caused by the Iran war, Reuters reported on November 3.
Petrojet
Petrojet Wins Key Contracts for Cyprus’ Cronos Gas Field Development
Egypt’s state-owned Petroleum Projects and Technical Consultations Company (PETROJET) has won key contracts for Cyprus’ Cronos gas field development, according to a statement by Egypt’s petroleum ministry on November 3.
Baker Hughes
Egypt Holds Talks with Global Energy Firms on Oil, Gas Development
Egyptian Petroleum and Mineral Resources Minister Karim Badawi has held talks with executives from Eni, bp, Baker Hughes, Halliburton and United Energy Group (UEG) on accelerating oil and gas field development, boosting production and expanding exploration in Egypt, according to ministry statements on November 3.
Ministry of Electricity and Renewable Energy
Egypt Approves Power Supply for 11 Industrial Projects
Egypt’s Supreme Energy Council has approved electricity and natural gas supplies for a number of industrial projects, including 11 projects reviewed at its latest meeting, as the government seeks to support industrial expansion and attract investment, according to a statement by the Ministry of Electricity and Renewable Energy on November 3.
ADNOC
ADNOC's XRG to Buy $1.45 Bn Stake in Australian LNG Project from Shell
XRG, the investment arm of UAE’s energy giant ADNOC, has agreed to acquire Shell’s interest in Australia’s North West Shelf project for $1.45 Bn, marking its first investment in Australian liquefied natural gas (LNG), according to a company statement on November 3.
UAE
Egypt, UAE Discuss Expanding Oil, Gas Cooperation at ADIPEC 2026
Egypt and the UAE have discussed expanding bilateral cooperation in oil, gas and energy, including increasing Emirati investment in Egypt’s petroleum sector and boosting the participation of Egyptian companies in major UAE projects, according to a statement by the Egyptian Ministry of Petroleum and Mineral Resources on November 3.
Operations
MOPCO Reports Uninterrupted Operations Despite Reported Gas Supply Cuts to Fertilizer Plants
Misr Fertilizers Production Company (MOPCO) confirmed that its operations continue uninterrupted despite reports of a 20% reduction in natural gas supplies to fertilizer plants amid rising import costs. In a disclosure to the Egyptian Exchange (EGX), the company said it is adjusting production rates in line with available natural gas supplies, but did not specify whether the reported 20% reduction has been applied to its facilities or disclose any impact on output.
Natural Gas
KIMA Cuts Natural Gas Intake by 20% Following Supplier Directive
The Egyptian Chemical Industries (KIMA), a listed fertilizer producer, has reduced its natural gas intake by 20% starting November 1 following a directive from its gas supplier, according to a disclosure to the Egyptian Stock Exchange (EGX). The company noted that its urea plant continues to operate normally adding that it is currently assessing the impact of the reduced gas supplies on its operations and will disclose the findings once the assessment is completed.
