- Crude Oil (WTI) 102.89 USD/bbl 0.07%
- Crude Oil (Brent) 113.40 USD/bbl 0.00%
- NYMEX Natural Gas 2.90 USD/MMBtu 0.00%
- OPEC Basket Price 112.85 USD/bbl -1.64%
Digitalization
Egypt to Pilot Digital Fuel Tracking System in Port Said to Curb Smuggling
Egypt will begin testing a digital system to track fuel distribution in Port Said on November 1 using vehicles’ electronic traffic stickers to strengthen oversight of fuel sales and curb smuggling and the diversion of petroleum products, the Ministry of Petroleum and Mineral Resources said on 31 October.
Eni
Eni Starts Gas Production at Maha Offshore Field in Indonesia
Eni has started gas production at the Maha offshore field in Indonesia, adding capacity of 250 mmcf/d and taking combined output from the Jangkrik floating production unit (FPU) and the South Hub to a plateau of 750 mmcf/d, the Italian energy company said on October 30.
Iraq
Iraq to End Gas Flaring by Early 2029
Iraq plans to eliminate gas flaring by early 2029 and expand domestic gas production through new projects involving Chevron, ExxonMobil and HKN, Oil Minister Bassem Mohammed Khudair told the Iraqi News Agency (INA) on October 30.
Russia
Russia Prepares to Extend Diesel Exports Cap Into 2027
Russia is preparing to extend restrictions on diesel exports by three months until the end of January 2027, with exemptions for certain international shipments, Deputy Prime Minister Alexander Novak said on October 30, according the Russian state news agency TASS.
Ministry of Petroleum and Mineral Resources
Egypt Studies Unconventional Oil Potential in Western Desert
Egypt’s Ministry of Petroleum and Mineral Resources has identified promising potential for unconventional oil production in parts of the Western Desert, following technical studies conducted by oilfield services company NESR in cooperation with a US institution and international specialists, according to a minsitry statement on October 30.
Chevron
Chevron Reports $9.9 Bn Profit in 3Q as Refining Margins Improve
Chevron reported third-quarter 2026 earnings of $9.9 Bn, up from $3.5 Bn a year earlier, as higher refining margins and crude oil realizations boosted results, according to a press release published by the company on October 30.
ExxonMobil
ExxonMobil Records $15.4 Bn Profit in Q3 2026
ExxonMobil reported third-quarter 2026 earnings of $15.4 Bn, up from $14.5 Bn in the previous quarter, supported by stronger refining margins and operational performance in its energy products business, according to the company’s financial results published on October 30.
Financial Results
bp Posts 49 % hike in Q3 2026 Profit
British Petroleum (bp) has reported underlying replacement cost profit of $8.5 Bn in the third quarter (Q3) of 2026, up from $5.7 Bn in the previous quarter, supported by higher refining margins and stronger gas and marketing trading performance, according to a statement by the company on October 30.
