- Crude Oil (WTI) 91.01 USD/bbl 1.77%
- Crude Oil (Brent) 95.83 USD/bbl 1.98%
- NYMEX Natural Gas 2.97 USD/MMBtu 2.41%
- OPEC Basket Price 95.32 USD/bbl 3.63%
Mediterranean exploration
Madbouly: Egypt Accelerates Gas Production and Regional Expansion
Egypt is accelerating natural gas production and Mediterranean exploration while expanding the regional activities of its petroleum-sector companies, as the government prioritizes energy security and domestic supply.
Shell
Shell to Acquire Full Ownership of Tri Star Energy in US Retail Expansion
Shell has agreed to acquire full ownership of Tri Star Energy, expanding its company-owned fuel and convenience retail network across Tennessee and neighboring US states as part of its strategy to focus capital on high-return markets.
North American Blue Energy Partners (NABEP)
Venezuela’s National Assembly Backs Major Oil Deal with US
Venezuela’s National Assembly has backed an oil deal with the administration of US President Donald Trump, ahead of a planned visit to Caracas by US Energy Secretary Chris Wright. The agreement would give the US access to around one-fifth of Venezuela’s oil reserves through an arrangement under which private oil company North American Blue Energy Partners (NABEP) would receive a 100-year lease for 17 oil fields in Venezuela holding some 65 billion barrels of oil reserves.
Minister of Petroleum and Mineral Resources
Badawi Says Egypt on Track to Restore Oil, Gas Production After Clearing $6.1 Bn Arrears
Karim Badawi, Minister of Petroleum and Mineral Resources, said Egypt is moving to restore oil and gas production growth after clearing foreign partners’ arrears, which stood at $6.1 billion in June 2024.
Egypt
Madbouly, UAE Officials Review Fujairah-Alamein Project
Egyptian Prime Minister Mostafa Madbouly met with Mohammed Saeed Al Dhanhani, Director of the Fujairah Emiri Diwan in the United Arab Emirates (UAE), and senior officials from the Emirate of Fujairah to follow up on the implementation of the Fujairah Alamein Oil and Gas project, after the establishment of the joint company designated to develop a petroleum storage and trading hub at El-Hamra Petroleum Port in New Alamein.
DNO ASA
DNO to Enter Egypt with $396 Mn Acquisition of Capricorn Energy
DNO ASA, a Norway-based oil and gas exploration and production operator, has reached an agreement on the terms of a recommended all-cash acquisition to acquire Capricorn Energy plc, a UK-listed independent upstream energy company, in a deal valuing the firm at approximately $396 million (£292 million). The offer effectively supersedes an earlier agreed transaction with Genel Energy plc, providing a higher cash consideration and marking DNO’s entry into the Egyptian upstream sector.
oil pipeline
Iraq Prepares Basra-Baniyas Pipeline Expansion
Iraq is advancing technical and economic preparations for the proposed Basra-Haditha-Kirkuk-Baniyas oil pipeline, aiming to strengthen crude transportation infrastructure, diversify export routes, and enhance the resilience of its oil exports.
AI
SLB to Acquire Kelvion for $4.1 Bn, Enters Data Centers
SLB has agreed to acquire thermal management and heat exchange technology provider Kelvion for approximately $4.1 billion, including $3.4 billion in cash and the assumption of about $700 million in debt, as the oilfield services company accelerates its expansion into the fast-growing data center infrastructure market. Under the agreement, SLB will acquire Kelvion from funds managed by Apollo, its majority owner, and Triton, which holds a minority stake.
