- Crude Oil (WTI) 72.07 USD/bbl +1.27%
- Crude Oil (Brent) 76.00 USD/bbl +1.40%
- NYMEX Natural Gas 2.32 USD/MMBtu +6.14%
- OPEC Basket Price 76.06 USD/bbl -0.41%
Q1 of 2026
Valmore's Q1 2026 Revenues Steady,Urea Gains Offset Trade Disruptions
Valmore Holding, one of the MENA region’s leading diversified investment holding companies, had a solid start to the year, with first‑quarter consolidated revenue holding steady at its level in the same quarter of 2025 to stand at $ 166 million. This generated earnings before interest, taxes, depreciation, and amortization (EBITDA) of $79.6 million, marking a 10% year‑on‑year (YoY) increase. Jon Rokk, the company's CEO, noted that the company's core hard-currency-generating platforms were performing exceptionally well and its utilities businesses continue to scale their recurring revenue base.
loan
EBRD Considers $70 Mn Finaning for Nubia Benban Solar Project
The European Bank for Reconstruction and Development (EBRD) is evaluating a financing package of up to $70 million for the Nubia Benban solar project in Aswan, with board approval anticipated in mid-June, according to an EBRD press release.
Cargas
Cargas Explores Nigerian Market for CNG Expansion
A delegation from Egypt’s Natural Gas Vehicles Company (Cargas) visited Nigeria to explore expansion opportunities into the Nigerian market and participate in national initiatives aimed at expanding compressed natural gas (CNG) utilization and “Transferring the company’s expertise and pioneering experience in this field, " noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
AMOC
AMOC Net Profit Rises 37% in Q1 2026
Alexandria Mineral Oils Company reported a consolidated net profit of EGP 635.12 million in the first quarter (Q1) of 2026, compared to EGP 463.07 million in the same period last year, according to the company’s disclosure to the Egyptian Exchange.
US
US Waiver on Russian Oil Purchases Expires
The Trump administration allowed a sanctions waiver that had enabled countries, including India, to buy Russian seaborne crude, to lapse
Egypt
Dana Gas Egypt Records First output Growth in Nine Years
The Egyptian assets of Dana Gas, the Middle East’s largest regional private-sector natural gas company, recorded one of their strongest operational performances since 2017 during the first quarter (Q1) of 2026, with production rising 4% YoY to 13,050 barrels of oil equivalent per day (boe/d). This marks the first growth in production in nine years. In a press release, Dana Gas attributed the improvement to its ongoing investment program under the Consolidated Concession Agreement signed in December 2024. The agreement consolidated 13 development leases from El Manzala, West El Manzala and West El Qantara into a single concession, New El Manzala and aimed at stabilizing production and reviving sustainable growth across its Nile Delta assets.
summer
Badawi Reviews Gas Grid Readiness for Summer Electricity Demand
Karim Badawi, Minister of Petroleum and Mineral Resources, reviewed the operational readiness and stability of the national natural gas grid to ensure it can secure the supply needed to cover the needs of power stations and the industrial sector during the summer season.
Saudi Arabia
UAE to Double Oil Exports by 2027 With New Fujairah Pipeline Bypassing Hormuz
The UAE will accelerate construction of a new oil pipeline to the port of Fujairah, aiming to double export capacity by 2027, according to the Abu Dhabi Media Office. Crown Prince Sheikh Khaled bin Mohamed bin Zayed directed Abu Dhabi National Oil Company (ADNOC), UAE state-owned energy company, to fast-track the West-East Pipeline project, which is already under construction and expected to begin operations next year.
