- 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%
Iraq
Third Iran-Linked Tanker Records Transit Through Strait of Hormuz
Shipping data recorded on April 14 showed that a third Iran-linked tanker was transiting the Strait of Hormuz on the first full day of the US blockade on vessels calling at Iranian ports. US President Donald Trump announced the blockade on Sunday after peace talks in Islamabad between the US and Iran failed to yield an agreement.
refinery
Petrobras in Early Talks with Mubadala to Reacquire Mataripe Refinery
Brazil’s state-owned energy company Petrobras convened preliminary direct negotiations with Abu Dhabi’s Mubadala sovereign wealth fund to repurchase the Mataripe refinery, according to sources cited by Reuters.
Prduction
PetroGulf Output Surges 56 % to highest level since 1982
PetroGulf, a subsidiary of Ganoub El Wadi Petroleum Holding Company (Ganope), has increased output from its Gulf of Suez Fields to its highest level since its inception in 1982. The output currently stands at 26,600 barrels per day (bbl/d) marking a 56 % hike compared with earlier levels in the current fiscal year 2025/2026. The jump was driven by an unprecedented production surge of about 10,000 barrels per day within just five months, following the implementation of a successful work plan, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Saudi Arabia
Saudi Arabia Restores East-West Pipeline to Full 7mmbbl/d Capacity
Saudi Arabia has fully restored oil pumping capacity through its East-West pipeline, which holds a total capacity of 7 million barrels per day (mmbbl/d). The East-West pipeline is a critical strategic asset, serving as Saudi Arabia’s primary export artery while the Strait of Hormuz remains closed. By transporting crude from the eastern fields to the Red Sea coast, the pipeline allows the Kingdom to bypass the maritime chokepoint entirely, ensuring the continued flow of oil to global markets despite the regional blockade.
South Korea
South Korea Nears Oil Supply Deal with Kazakhstan Amid Middle East Disruptions
South Korea is close to securing crude oil supplies from Kazakhstan, as Seoul steps up efforts to diversify energy sources amid ongoing conflict in the Middle East, the country’s industry minister said.
Increase
Petromaint Records its Highest Ever Revenues in 2025
The Alexandria Petroleum Maintenance Company (Petromaint) recorded its highest-ever revenues in 2025, rising by 56% year-on-year (YoY) to EGP 11.8 billion, compared to EGP 7.6 billion in 2024. The results, which were approved during the company’s general assembly, reflect strong confidence in its specialized workforce and technical capabilities.
EMC
EMC Doubles Operating Profits to EGP 1.57 Billion in 2025
The Egyptian Maintenance Company (EMC) reported exceptional operational and financial results in 2025, with revenues rising by 31% to EGP 16.7 billion, while new contracts increased by 27% to EGP 19.6 billion, according to Mohsen Kotb, the company's chairman. Operating profits more than doubled to EGP 1.57 billion, compared to EGP 700 million in 2024, marking the highest growth rate in the company’s history, Kotb stated during the company’s general assembly.
Egyptian Ministry of Petroleum and Mineral Resources
Elsharkawi: Baker Hughes, MoPMR Partner to Launch Subsurface Gas Storage Projects
Baker Hughes is accelerating its strategic involvement in underground natural gas storage projects in collaboration with the Ministry of Petroleum and Mineral Resources (MoPMR), according to Amro Ismail Elsharkawi, the company’s Country Director. The initiative aims to leverage Egypt's geological potential to enhance the state's capacity as a regional natural gas hub while driving production through advanced digital platforms. Speaking in a recent interview with Petrocast, the MoPMR's podcast, Elsharqawi reported that the company is working directly with the ministry and the Egyptian Natural Gas Holding Company (EGAS) on subsurface storage feasibility.
