- Crude Oil (WTI) 95.81 USD/bbl 1.54%
- Crude Oil (Brent) 106.54 USD/bbl 0.89%
- NYMEX Natural Gas 3.16 USD/MMBtu -2.77%
- OPEC Basket Price 112.30 USD/bbl -0.78%
gas
Italy Nears Deal With EU on Gas Price Cap
Italian Prime Minister Giorgia Meloni has said her government is nearing an agreement with the European Union on a mechanism to lower the price of gas used to generate electricity, Bloomberg’s Asharq Business website reported on 14 October.
Forecast
IEA Warns: Diesel Supply Tightness Could Persist Into 2027
Global diesel supply constraints could persist well into 2027 as disruptions to Middle Eastern and Russian exports, reduced refinery output, and declining inventories leave markets struggling to meet demand ahead of peak winter consumption, the International Energy Agency (IEA) said in its October 2026 Oil Market Report.
Saudi Arabia
Egypt, Saudi Arabia to Launch 3,000-MW Power Link in Weeks
Egypt and Saudi Arabia are preparing to launch their 3,000-MW electricity interconnection project in the coming weeks, following ongoing trial operations of its second phase.
Foreign Minister Badr Abdelatty
Indorama Eyes Egypt Petrochemical Expansion
Aloke Lohia, CEO and founder of Indorama Ventures, a Thailand‑based global chemical group, voiced interest in expanding investments and operations in Egypt during talks with Foreign Minister Badr Abdelatty. The meeting addressed the company's expansion plans and priorities in Egypt, as well as means to support their implementation and create favorable conditions for future projects. Abdelatty expressed Egypt's interest in increasing the company's production capacity or introducing higher-value-added products to meet the needs of Egyptian industries, enhance the competitiveness of locally manufactured products, and boost exports. He also highlighted opportunities to expand partnerships with Egyptian counterparts in manufacturing and training.
East Mediterranean
Second EOGC 2026 Workshop Explores Development of Delta, Mediterranean Fields
The development of the Delta and Mediterranean fields took center stage at the second technical workshop for the 12th Egypt Oil & Gas Convention (EOGC 2026). Hosted on October 11 at Pharaonic Petroleum Company’s (PhPC) West Harbour field, the session followed the series kickoff held a few days earlier at the Badr-3 field in the Western Desert. Organized in collaboration with the Egyptian General Petroleum Corporation (EGPC), the workshops provide a platform for field engineers working in comparable operating environments to exchange knowledge, share best practices, and address common technical and operational challenges.
plan
Trump Announces Plans for Major Resource Exploration in Greenland
US President Donald Trump said large-scale oil, gas, and mineral exploration is set to begin in Greenland, citing the island’s resource potential and strategic importance.
crude oil
Iraq's Oil Exports Reach 2.7 mmbbl/d, Plans Further Increases
Iraq's crude oil exports have reached around 2.7 million barrels per day (mmbbl/d), with the Ministry of Oil working to increase shipments through its northern and southern export outlets and raise flows through the Iraq-Türkiye pipeline (ITP).
renewable energy
TotalEnergies, KKR Expand US Renewables JV by 700 MW
TotalEnergies and global investment firm KKR have agreed to add 700 megawatts (MW) of renewable energy capacity to their US joint venture (JV), increasing its total portfolio from 1.4 gigawatts (GW) to 2.1 GW, according to a statement issued on October 12.
