- Crude Oil (WTI) 78.43 USD/bbl -5.20%
- Crude Oil (Brent) 83.67 USD/bbl -3.00%
- NYMEX Natural Gas 2.67 USD/MMBtu -3.61%
- OPEC Basket Price 88.91 USD/bbl -8.54%
Edison
QatarEnergy Extends Force Majeure, Edison Replaces Cargoes
QatarEnergy has informed Edison (EDNn.MI), one of its largest European clients, that it will be unable to supply three liquefied natural gas (LNG) cargoes, extending its force majeure declaration through the end of September..
Cronos gas field
Egypt to channel Cypriot gas to Europe by 2028 after Eni, TotalEnergies approve Cronos FID
Italian Eni and French TotalEnergies have reached the Final Investment Decision (FID) to develop Cronos project, in deep waters offshore Cyprus, with the target to bring the first Cypriot gas to market in 2028. The project, operated by Eni, will bring to production the gas volumes from Cronos field, in Block 6, which holds more than 3 trillion cubic feet (tcf) of gas initially in place (GIIP). Production is expected to reach a plateau of 500 million cubic feet per day (mmcf/d), equivalent to around 2.8 million tons of per year (mmt/y) of liquefied natural gas (LNG).
Saipem
Saipem Posts 19% YoY Higher H1 Revenues in 2026
Italian energy services group Saipem reported first-half 2026 revenues of €7.35 billion, up 1.9% from a year earlier, as strong order intake offset extra costs tied to Middle East disruptions. Adjusted EBITDA rose 9.4% to €836 million, while adjusted net profit came in at €131 million.
Baker Hughes
Baker Hughes Secures CP2 LNG Contract From Venture Global
Baker Hughes, an energy technology company, has secured a major order in the second quarter of the year to supply US Venture Global with a liquefication technology for the Calcasieu Pass 2 (CP2) liquefied natural gas (LNG) expansion project in Louisiana, further advancing the its next phase. The scope of work includes six liquefaction blocks for a total of 12 liquefaction modules, building on the company’s six liquefaction blocks for a total of 12 liquefaction modules, Baker Hughes said on July 27.
SCZone
Egypt, CNCEC Push Ahead With Soda Ash, Petrochemicals Projects
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Deng Zhaojing, General Manager of China National Chemical Engineering Group (CNCEC), and the accompanying delegation to discuss accelerating several local strategic projects, especially the Soda Ash production project in New Alamein and the Red Sea National Petrochemicals Company complex in the Suez Canal Economic Zone (SCZONE).
Saudi Aramco
Petro Rabigh's Largest Growth Project Remains on Track
Fahad Almuhaisin, Chief Financial Officer (CFO) of Rabigh Refining and Petrochemical Company (Petro Rabigh), said the company expects to complete the engineering studies this year for its largest project currently under development. The project aims to convert high-sulfur fuel oil into higher-value products.
Kuwait
bp in Talks to Sell Lightsource to Kuwait-Backed Consortium
British Petroleum (bp) is having late-stage talks to sell its Lightsource solar energy unit to a consortium backed by Kuwait’s sovereign wealth fund, as bp is focusing on oil and gas to boost returns, Reuters reported, citing the Financial Times.
second quarter
Baker Hughes Posts $6.74 Bn Q2 Revenue
Baker Hughes reported revenue of $6.74 billion for the second quarter (Q2) of 2026, down 2% year-on-year (YoY) from $6.91 billion despite a 2% sequential increase. The energy technology company also posted net income of $681 million, down 3% compared to the same period last year and 27% lower than the previous quarter. The decline was mainly due to the sale of its Precision Sensors & Instrumentation (PSI) and Surface Pressure Control (SPC) businesses, which no longer contribute to the company's revenue.
