- Crude Oil (WTI) 70.34 USD/bbl 2.28%
- Crude Oil (Brent) 73.79 USD/bbl 2.22%
- NYMEX Natural Gas 3.26 USD/MMBtu 1.24%
- OPEC Basket Price 70.37 USD/bbl 0.89%
US -Iran war
QatarEnergy Cuts LNG Deliveries to Bangladesh
QatarEnergy has cut its scheduled LNG deliveries to Bangladesh by half this year due to ongoing disruptions to shipments through the Strait of Hormuz, prompting Bangladesh to seek alternative supply sources while Qatar works to maintain deliveries where possible.
SpA
ADNOC Signs 15-Year LNG Supply Deal with Japan's INPEX from Ruwais Project
Abu Dhabi National Oil Company (ADNOC) has signed a 15-year Sales and Purchase Agreement (SPA) with Japan's largest exploration and production company, INPEX Corporation, to supply 1 million tons per annum (mtpa) of liquefied natural gas (LNG) from its Ruwais LNG project.
NW Al Amal Block
EUG Opens NW Al Amal Block for Bidding Untill September 7
The Egypt Upstream Gateway (EUG) has opened the NW Al Amal Block in the Gulf of Suez for bidding, with submissions accepted until September 7, according to a statement posted on its official LinkedIn page.
Basil Abdel Wahab
Badawi Explores AI Adoption with SLB to Boost Oil Production
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Sherif Bayoumy, Managing Director of SLB (formerly Schlumberger) for Egypt and the Eastern Mediterranean, and Basil Abdel Wahab, SLB Vice President of Digital Solutions, to discuss deploying advanced artificial intelligence (AI) applications across exploration, production, and operations.
XRG
ADNOC Launches Combined LNG Marketing Platform
Abu Dhabi National Oil Company (ADNOC) launched a global liquefied natural gas (LNG) marketing and trading platform at Abu Dhabi Global Market (ADGM), integrating the marketing operations of ADNOC Gas and XRG with the trading expertise of ADNOC Trading into a unified commercial hub..
Basra. Iraq
Iraq’s BOC, Halliburton Sign 5-Year Deal to Develop Bin Omar, Sindbad Fields
Iraq’s Oil Ministry announced that its main state-owned operator in the southern region, Basra Oil Company (BOC), has signed a five-year integrated management contract with US - based Halliburton for the development of the Bin Omar and Sindbad oil fields, as part of the government’s strategy to boost production capacity, according to Reuters.
energy security
Egypt Pitches Energy, Mining Investment Opportunities to Foreign Diplomats
Egypt stepped up efforts to attract foreign investment in its energy and mining sectors, as Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty and Minister of Petroleum and Mineral Resources Karim Badawi discussed opportunities and recent developments in both sectors.
Production quota
OPEC+ Approves 188,000 bbl/d Output Increase for August 2026
Seven core members of OPEC+ have agreed to implement a crude oil production adjustment of 188,000 barrels per day (bbl/d) for August 2026, according to a release by Organization of the Petroleum Exporting Countries (OPEC). The decision follows a virtual meeting between Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman on July 5, 2026, to assess global oil market conditions and outlooks.
