- Crude Oil (WTI) 93.76 USD/bbl -6.90%
- Crude Oil (Brent) 100.86 USD/bbl -8.35%
- NYMEX Natural Gas 2.90 USD/MMBtu -1.02%
- OPEC Basket Price 103.53 USD/bbl -10.64%
Egypt
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.
Supply Cut
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.
Drilling technologies
Weatherford to Support Egypt's Efforts to Boost Production, Improve Efficiency
Egypt and US-based oil services company Weatherford explored ways to boost domestic oil and gas production through advanced drilling technologies, digital solutions, production optimization, and expanded technical cooperation.
Minister of Petroleum and Mineral Resources Karim Badawi
Egypt, Honeywell Move to Expand Cooperation on Refinery Upgrades
Egypt and international technology company Honeywell agreed to intensify coordination in the coming period and hold specialized technical meetings between the company and petroleum sector firms to identify priority areas for cooperation in refinery upgrade and emissions monitoring projects to support the modernization of the petroleum sector and improve operational efficiency. This came during a meeting of Karim Badawi, Minister of Petroleum and Mineral Resources, with Anant Maheshwari, President of Strategy and President of Global Regions at Honeywell Technologies, on the sidelines of the ADIPEC 2026.
South Korea
South Korea's KNOC Reviews Egypt Expansion Plans with Badawi
Egyptian Minister of Petroleum and Mineral Resources Karim Badawi and Son Joo-suk, President of Korea National Oil Corporation (KNOC) discussed increasing the South Korean company’s investments in Egypt's oil and gas sector, boosting production from its existing concessions, and exploring joint projects in petroleum product storage and trading. The discussions took place during a meeting on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2026).
Karim Badawi
Egypt, Chevron Discuss Positive Results from Nargis-2 Well and Aphrodite Gas Development
Egypt and Chevron discussed the positive results of the Nargis-2 appraisal well and progress on connecting Cyprus' Aphrodite gas field to Egypt's natural gas infrastructure during ADIPEC 2026.
Capricorn Energy
Badawi Reviews DNO's Egypt Expansion Plans Following Capricorn Deal
Karim Badawi, Minister of Petroleum and Mineral Resources, discussed with Chris Spencer, Managing Director of Norwegian oil and gas company DNO, the company's plans to enter the Egyptian market following its agreement to acquire UK-based Capricorn Energy, an oil and gas producer with interests in several concession areas in Egypt's Western Desert. The discussions took place on the sidelines of the ADIPEC 2026 conference and exhibition. Badawi welcomed DNO's plans to expand its presence in Egypt, noting that the company's decision to include the country among its key areas of operation reflects confidence in the investment opportunities offered by Egypt's oil and gas sector. He also highlighted the ministry's ongoing efforts to improve the investment climate and attract additional investments, particularly in exploration, development, and production activities.
Petrobakr
Vaalco Energy Champions Healthcare and Special Education Initiatives in Egypt
Vaalco Energy, a world-class operator in African oil and gas production and development, implemented three community service projects in Egypt during fiscal year (FY) 2025/2026, focusing on healthcare, medical services, and special education in communities where the company operates in the Red Sea Governorate.
