- Crude Oil (WTI) 101.04 USD/bbl -2.29%
- Crude Oil (Brent) 113.88 USD/bbl -2.03%
- NYMEX Natural Gas 2.96 USD/MMBtu 5.34%
- OPEC Basket Price 114.73 USD/bbl -0.42%
Norway
Norway's DNO Weighs Exporting Kurdistan Oil Through Syria
Norwegian oil and gas company DNO is considering exporting crude oil from Iraq’s Kurdistan region through Syria to secure prices closer to international benchmarks, Reuters reported October 29, citing the company’s CEO Bijan Mossavar-Rahmani.
Financial Results
TotalEnergies Reports 51% Eise in Adjusted Net Income for Q3 2026
French energy major TotalEnergies reported a 35% year-on-year (YoY) increase in adjusted earnings to $17.8 billion in the third quarter (Q3) of 2026, supported by record refining margins, higher liquefied natural gas (LNG) prices, and stronger trading performance. The company also generated a 51% rise in adjusted net income reaching $9.1 billion during the quarter, compared to the same period of last year.
Suez
Madbouly Opens 1.2 MW Solar Power Plant at Nasr Petroleum
Egypt inaugurates a 1.2 MW solar power plant at Nasr Petroleum in Suez as the petroleum sector expands renewable energy capacity and energy-efficiency initiatives.
Australian Woodside Petroleum
QatarEnergy to Buy 3 Million Tons of US LNG Annually From Woodside
QatarEnergy has signed a 20-year agreement to purchase 3 million tons per annum (mtpa) of liquefied natural gas (LNG) from Australia’s Woodside Energy, with deliveries from the Louisiana LNG project in the US expected to begin in 2030, according to a press release by QatarEnergy.
nuclear
El-Sisi, Rosatom Director Review El Dabaa Nuclear Plant Progress
Egyptian President Abdel Fattah El-Sisi commended the ongoing cooperation with Rosatom on the El Dabaa Nuclear Power Plant. He highlighted the project's critical role in advancing Egypt’s commitment to expanding renewable and clean energy sources to satisfy national power demands. Emphasizing the steady progress achieved across various construction phases, the President called for continued joint coordination to maintain strict adherence to project timelines.
Shell
Shell Adjusted Earnings Double in Q3 2026
UK-based energy major Shell reported adjusted earnings of $10.8 billion in the third quarter (Q3) of 2026, doubling from $5.4 billion in the same period last year, driven by higher refining margins, stronger realized liquefied natural gas (LNG) prices, and increased Integrated Gas volumes.
EGPC
East Zeit Hosts Third Technical Workshop Ahead of EOGC 2026
The development of oil fields in the Eastern Desert and Gulf of Suez was the focus of the third technical workshop organized by the Egypt Oil & Gas Group ahead of the 12th Egypt Oil & Gas Convention (EOGC 2026). Held on October 28 -29 at the East Zeit area of the Offshore Shukheir Oil Company (OSOCO), the workshop brought together representatives from Egypt’s public and private petroleum sectors to discuss field development and share technical and operational experience. The workshop was attended by Tamer Edrees, Deputy CEO for Production at EGPC, Mohamed Ali, Chairman of OSOCO, and Mohamed Farouk, Egypt Vice President at Dragon Oil, alongside other leaders from the public and private sectors.
Ministry of Petroleum and Mineral Resources
Bapetco Prepares Egypt’s Largest Multistage Fracturing Operation at Obaiyed Gas Well
Badr El Din Petroleum (Bapetco) is preparing to carry out Egypt’s largest multistage hydraulic fracturing operation at the Obaiyed H18 horizontal gas well in the Western Desert, aiming to revive production from a well experiencing natural decline and support domestic gas output, according to a Ministry of Petroleum and Mineral Resources statement. Halliburton, the service provider carrying out the operation, has confirmed the availability of the required equipment and technical preparations. These include 18 high-pressure pumps with a combined hydraulic horsepower exceeding 40,000. Execution is expected to begin in the coming days.
