- Crude Oil (WTI) 91.85 USD/bbl 0.21%
- Crude Oil (Brent) 104.54 USD/bbl 0.00%
- NYMEX Natural Gas 3.22 USD/MMBtu 0.00%
- OPEC Basket Price 114.03 USD/bbl 4.14%
Saudi Arabia
Saudi Arabia, UAE Increase Oil Exports as Hormuz Shipments Recover
Saudi Arabia and the United Arab Emirates (UAE) have increased crude oil exports as shipments through the Strait of Hormuz recover, with both countries seeking to regain market share lost during the Iran war, according to data from analytics firm Kpler cited by Reuters on October 8.
Egyptian Minister of Petroleum and Mineral Resources
Badawi Urges Sustained Oil and Gas Investment to Safeguard International Energy Supply
Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi urged continued investment in oil and natural gas exploration, production and infrastructure to bolster energy security during the 17th ministerial meeting of the International Energy Forum (IEF) in Riyadh, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). Badawi stressed that energy security is a shared responsibility and cannot be achieved without sufficient investment in the oil and gas industries, calling for greater spending on exploration, production, infrastructure and technology.
Egyptian Ministry of Electricity and Renewable Energy
Egypt to receive First El Dabaa Nuclear Fuel Shipment in May 2027
Egypt expects the first shipment of nuclear fuel for the operation of the El Dabaa Nuclear Power Plant to arrive in May 2027, Minister of Electricity and Renewable Energy Mahmoud Esmat said in a televised interview with anchor Lamis El Hadidy on October 11. Esmat added that the plant operates under the oversight of the International Atomic Energy Agency (IAEA), with safety protocols covering the transportation, storage, and use of nuclear fuel.
Egypt Energy
Egypt Energy, FIREX Egypt 2026 Set to Showcase 200+ International Exhibitors
Egypt Energy and FIREX Egypt 2026 exhibitions and conferences will open on October 12 at the Egypt International Exhibition Center (EIEC), bringing together more than 200 exhibitors from 25 countries to discuss energy transition, renewable power, grid modernization, and industrial safety. The events are held under the patronage of the Ministry of Transport, the Ministry of Planning and Economic Development, and the Egyptian Environmental Affairs Agency.
UAE
Dana Gas, Levidian Commission First Graphene Production Unit in Sharjah
Dana Gas and Levidian have started graphene production at Sharjah Graphene Park, with plans to expand annual capacity to more than 10 tonnes by the end of 2026 and potentially invest up to $50 million as production scales.
Vaalco Energy
Vaalco Reports Positive Gabon Well Results, Advances Côte d’Ivoire Drilling
Vaalco Energy, a US-based independent energy company, has completed the third phase of its offshore drilling campaign in Gabon, reporting positive results from the ETSEM-3H well in the Southeast Etame field. Separately, the company has started the fifth phase of its drilling campaign at the Baobab field offshore Côte d’Ivoire, with the production expected to come online near the end of 2026.
transfers
Badawi Launches Broad Leadership Reshuffle at Petroleum Firms
Karim Badawi, Minister of Petroleum and Mineral Resources, has reshuffled the leadership of several petroleum sector companies to fill vacant positions following the retirement of their previous officeholders, while appointing new leaders as part of ongoing efforts to improve performance and strengthen management efficiency. The appointments are part of the Ministry of Petroleum and Mineral Resources’ efforts to renew leadership, invest in human resources, empower qualified personnel, and maximize the benefits of accumulated experience, according to a statement by the petroleum ministry.
production
Germany to Release Up to 15 mmbbl of Oil Under G7 Plan
Germany will release up to 15 million barrels (mmbbl) of crude oil and petroleum products from its emergency reserves under a coordinated Group of Seven (G7) initiative led with the International Energy Agency (IEA), Reuters reported. The move aims to ease fuel shortages and contain rising energy prices amid supply disruptions linked to conflicts involving Iran and Ukraine.
