- Crude Oil (WTI) 93.71 USD/bbl 2.42%
- Crude Oil (Brent) 104.70 USD/bbl 1.79%
- NYMEX Natural Gas 3.23 USD/MMBtu 7.31%
- OPEC Basket Price 107.69 USD/bbl -1.37%
Aramco
Saudi Aramco Plans Gas Division as It Weighs Future Asset Listings
Saudi Aramco plans to reorganize its business to create a new gas division as the company considers possible listings of business units to raise cash, two sources familiar with the matter told Reuters.
Financial Results
Qalaa Returns to Profit with EGP 200 Mn in H1 2026
Qalaa Holdings, a leading investment company in Africa and the Middle East, recorded a consolidated net profit after minority interest of EGP 200 million during the first half (H1) of 2026, compared with a net loss of EGP 1.3 billion in the same period of 2025. The turnover was supported by a 52% year-on-year (YoY) rise in its consolidated revenues to reach EGP 94.7 billion, according to a disclosure to the EGX. “The first half of 2026 was a strong period for Qalaa across the board, with the Group delivering robust top-line growth, a marked expansion in operating profitability, and a return to net profit," said Ahmed Heikal, Chairman and Founder of Qalaa Holdings.
Phase Out Fossil Fuels
Germany Sets 2045 Target to Phase Out Coal, Oil and Gas
Germany’s cabinet approved a roadmap on September 23 to phase out coal, oil, and gas by 2045, reaffirming the country’s focus on electrification, Reuters reported. Germany is the third country, after France and the Netherlands, to adopt a national roadmap under an international initiative to reduce dependence on fossil fuels.
US
US Warns of Possible Exit from IEA Over Climate Policy Disputes
The US could withdraw from the International Energy Agency (IEA) if the organization fails to align with Washington’s priorities on climate policy, US Energy Secretary Chris Wright said on September 23. Speaking at a Wall Street Journal event in New York, Wright said the US would seek to reform the Paris-based agency but could consider leaving if those efforts fail.
Eni
Badawi, Eni Discuss Accelerating New Discoveries, Production in Egypt
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Eni executives to discuss accelerating the development of new discoveries, raising production and expanding the Italian energy company’s exploration activities in Egypt.
Yanbu
Saudi Aramco Signals Possible Resumption of Yanbu Oil Loadings for Asian Refiners
Saudi Aramco has informally told at least three Asian refiners they may soon be able to pick up crude from Saudi Arabia’s Red Sea port of Yanbu, according to traders familiar with the matter.
US
Trump Supports US Diesel Export Ban as Prices Hit Records
US President Donald Trump supports a ban on diesel exports as fuel prices reach record highs to curb the rising costs of energy, Reuters reported. Trump said the US should keep more of its diesel domestically, adding that the country produces large volumes of the fuel. “I’ve said let’s not send out the diesel. We make a lot of diesel,” Trump told reporters ahead of a meeting with Ukrainian President Volodymyr Zelenskiy.
US
Baker Hughes Ranks First in Energy Category of 100 Best Corporate Citizens
Baker Hughes ranked first in the energy sector and 37th overall in the 2026 100 Best Corporate Citizens ranking, highlighting its performance in sustainability, transparency, emissions reduction, and community engagement.
