- Crude Oil (WTI) 82.25 USD/bbl 4.36%
- Crude Oil (Brent) 87.96 USD/bbl 4.03%
- NYMEX Natural Gas 2.77 USD/MMBtu 1.47%
- OPEC Basket Price 79.53 USD/bbl 3.33%
Egypt
Badawi Reviews Gas Supply Plans for the second half of Summer
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, reviewed the operating position of the national natural gas network and the plans to secure supplies during the second half of summer.
ADNOC
ADNOC Gas Considers LNG Export Plant to Bypass Strait of Hormuz
ADNOC Gas is considering building an LNG export facility on the UAE’s east coast as the country seeks to reduce its reliance on the Strait of Hormuz following disruptions caused by the Iran war, Bloomberg reports.
quarter results
ADNOC Gas Posts $665 Mn Net Profit in Q2 of 2026, Exceeding Guidance
ADNOC Gas, affiliated to Abu Dhabi National Oil Company (ADNOC), reported net profit of $665 million for the second quarter (Q2) of 2026, exceeding its guidance range of $400 million-$600 million despite disruptions to maritime movements through the Strait of Hormuz. However, net income fell 52% year-on-year (YoY) from $1.39 billion in Q2 2025. Reuters reported that the decline came as the closure of the Strait of Hormuz disrupted the company’s operations following US and Israeli attacks on Iran.
ECHEM
ECHEM Reviews Progress of Methanol Derivatives Project in Damietta
ECHEM Chairman Alaa El-Din Abdelfattah reviewed the progress of the Suez Methanol Derivatives project in Damietta, which targets producing 140,000 tons per year of value-added petrochemical products.
Egypt
Cargas Exports First Hydraulic Oil Shipment to Türkiye
The Egypt’s Natural Gas Vehicles Company (Cargas) has exported its first-ever shipment of hydraulic oils to Türkiye, marking the company’s entry into the export market for lubricants as it seeks to diversify its activities and expand into regional and international markets.
Sukari Gold Mine
Rockfall at Sukari Gold Mine Kills One Worker, Injures Five
A rockfall in one of the underground tunnels of Sukari Gold Mine in the Eastern Desert resulted in the death of Abdel Rahman Nabil Mahmoud, a mine worker and the injury of five others, said a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The injured workers were immediately transferred to a Hospital in Marsa Alam to receive the necessary medical care. Preliminary medical reports indicated that their conditions are stable. Underground operations in the affected area have been temporarily suspended until the required procedures are completed and all safety requirements and measures are confirmed before work resumes, the MoPMR noted.
renewable energy
AlexFert Signs 30‑Year Solar Deal with SolarizEgypt for 1 MW Plant
AlexFert has signed a 30-year Power Purchase Agreement with SolarizEgypt to supply its Alexandria facility with 1 MW of solar power, supporting renewable energy use while reducing its reliance on electricity from the national grid.
quarter results
Vaalco Energy Reports 30 % increase in Egypt Oil Sales in Q2 of 2026
Vaalco Energy, an American independent oil and gas company, reported 30% increase in oil sales from its Egyptian operations during the second quarter (Q2) of 2026 compared to the previous quarter, generating $86.4 million. The increased sales were reflected in an 11% increase in net profit from the Egyptian operation over the same period, to $43.4 million, according to a statement by Vaalco. Vaalco as a whole reported net profit of $42.4 million in Q2 of 2026, compared with $13.2 million in Q2 2025, supported by higher sales, stronger realized prices, hedging gains, and lower exploration expenses.
