- Crude Oil (WTI) 101.13 USD/bbl -1.22%
- Crude Oil (Brent) 103.40 USD/bbl -2.18%
- NYMEX Natural Gas 2.86 USD/MMBtu -1.72%
- OPEC Basket Price 124.04 USD/bbl -0.47%
Truck Transportation
Iraq Moves Southern Crude by Truck to Boost Türkiye Exports
Iraq has launched a pilot operation to transport crude oil from its southern fields by truck to a storage facility in Kirkuk, seeking to increase supplies to the northern export system and boost shipments through Türkiye’s Ceyhan port. The trial, conducted from September 13 for two days, moved slightly more than 6 million liters of crude, equivalent to about 38,000 barrels, using 209 tanker trucks, each with a capacity of 30,000 liters.
LNG supplies
Asian LNG Demand to Fall for Second Year Amid Gulf Supply Disruptions
Asian LNG demand is expected to decline for a second consecutive year as Gulf supply disruptions push prices higher, with Northeast Asia accounting for most of the decline.
West Zohr Offshore block
EUG Highlights West Zohr Block Potential Before December Deadline
The Egypt Upstream Gateway (EUG) has provided an overview of West Zohr Offshore block. The closing date is on December 14, 2026. The block comes as part of the 14 blocks included in the Ministry of Petroleum and Mineral Resources (MoPMR)’s 2026 international bid round, launched on August 11.
EGAS
EGAS to Drill 16 Wells, Targeting 6 Tcf in FY26/27
EGAS added 28 new wells to Egypt’s gas production map and recorded nine new discoveries during FY 2025/2026. As for FY 2026/27, the company identified 16 new gas exploration opportunities, comprising seven offshore and nine onshore prospects, with plans to drill 16 wells targeting estimated resources of around 6 tcf.
Saudi Arabia
Saudi Arabia Reroutes Crude Exports After East-West Pipeline Attack
Saudi Arabia is rerouting crude exports and offering additional volumes to Asian buyers through alternative shipping arrangements after drone attacks disrupted its key East-West pipeline and halted loadings at Yanbu.
Strait of Hormuz
ADNOC Secures Iraqi Crude at Steep Discounts
Abu Dhabi National Oil Company (ADNOC) has agreed to buy up to 72 million barrels (mmbbl/s) of Iraqi crude for August and September at steep discounts, Reuters reported, citing Iraqi sources.
expansion
Ganope Lifts Output to 33,000 bbl/d, Targets 44,000 in FY 2026/27
South Valley Egyptian Petroleum Holding Company (Ganope) has raised its average crude output to about 33,000 barrels per day (bbl/d) in the current fiscal year, with plans to reach 44,000 bbl/d in FY 2026/27, Chairman Samir Raslan announced. Ganope has also awarded Red Sea Block 6 to bp, marking the first agreement in southern Egypt to apply the R-factor investment model, a framework where the investor’s share of production or revenues is linked to a profitability index, Raslan said.
Libyan Minister of Oil and Gas Khalifa Abdulsadek
Libya Targets 4 bcf/d Gas Production Within Five Years
Libya plans to raise natural gas production to at least 4 Bcf/d within three to five years, leveraging its discovered gas resources, Oil and Gas Minister Khalifa Rajab Abdulsadek said.
