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Gulf of Suez Petroleum Company (GUPCO) has completed the drilling of a new exploratory well, South Al-Wasl B.B, in the Gulf of Suez. Well tests yielded production rates of about 2,500 barrels of oil per day(bbl/d) and 3 million cubic feet of gas per day (mmcf), and the well was immediately tied into existing production facilities, thereby raising the company’s overall production capacity. GUPCO is a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and its UAE-based investment partner, Dragon Oil, which bought bp’s share in the company in 2019. A Photo of the South Al-Wasl BB well…

Libya’s oil sector recovery has been enabled by an improved security environment, but risks being derailed by payment concerns. Oil service providers are continuing to struggle with overdue fees and lack of clarity about payment timelines. Libya’s crude and condensate output averaged 1.374mn b/d for 2025, the highest annual figure in 15 years (see chart 1 & MEES, 2 January), with IOCs reporting record volumes amid improved stability (MEES, 27 February). The country hopes to produce 2mn b/d by 2030, an ambitious target after nearly two decades of instability, that would lift output above pre-revolution levels. (CONTINUED – 1436 WORDS) Read…

Misr Fertilisers Production Company (MOPCO) reported urea production of 1.7 million tonnes in fiscal year 2025, achieving 102% of its investment plan, while ammonia output reached 1.1 million tonnes, also 102% of target. Ahmed Mahmoud, MOPCO chairman, announced at the company’s general assembly convened to approve the 2025 results. The meeting, chaired by Alaa El-Din Abdel Fattah, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), approved a cash dividend of EGP 3.94 per share. Abdel Fattah highlighted Mopco’s vital role in the national economy, noting that the company covers 26% of the domestic market’s urea fertilizer demand. MOPCO’s total urea…

The Egyptian Petroleum Services Company (EPSCO) recorded a 24 % increase in revenue from its labor-supply business line to reach EGP 8.2 billion in 2025, according to Chairman Ahmed Shehata. EPSCO is a prominent services provider with over 15 years of experience in the oil and natural gas sector. The company delivers integrated solutions ranging from workforce supply and procurement to transportation and support for drilling, exploration, and maintenance operations. During the company’s general assembly meeting to approve the fiscal year (FY) 2025 results, Shehata reported that the catering services segment achieved a business volume of EGP 4 billion. The…

With only a few hours remaining before President Trump’s 8 p.m. EST deadline for Iran to reopen the Strait of Hormuz, an eerie silence has settled over the Middle East.President Trump has vowed to target Iran’s energy infrastructure if they do not comply, likely with support from the Israeli Defence Force (IDF). While Israel hasn’t explicitly confirmed it will target Iranian power plants and critical infrastructure, it certainly hasn’t ruled it out.Iran has promised to retaliate in kind by targeting similar sites across the region. This puts energy production in Gulf Arab states under constant threat. Since the conflict began,…

Libya’s first and only private oil firm Arkenu has sought to adopt a more low profile of late, as pressure mounts over corruption scandals involving top officials in Libya’s divided east and west administrations (MEES, 18 July 2025). However, the strategy appears to have failed and on 2 April, Tripoli-based Prime Minister Abdul Hameed Dbeibeh instructed state-owned NOC to suspend a controversial oil deal with Arkenu. Arkenu was founded in the eastern city of Benghazi in early 2023 (MEES, 14 June 2024), and the controversial company has since amassed a substantial list of assets and partners, securing deals with state…

Iraq could ramp up its crude oil exports to around 3.4 million barrels per day (mmbbl/d) within a week if the ongoing Iran conflict de-escalates and the Strait of Hormuz reopens, according to the head of the state-run Basra Oil Company cited by Reuters. An analysis indicated that Iraq has experienced the sharpest decline in oil revenues among Gulf producers due to the effective closure of the Strait, as the country lacks alternative export routes. Despite the disruption, Iraq, the second-largest producer in OPEC, retains the capacity to swiftly return to pre-crisis output levels, which were impacted following US-Israeli strikes…

Libya’s NOC on 27 March announced that oil services provider SLB was restructuring its operations in the country into an independent entity under the name LIG, reporting directly to its MENA regional management. The decision followed discussions between NOC chairman Masoud Suleiman and SLB CEO Olivier Le Peuch to restore an independent operating structure for the firm’s business in Libya, similar to its status prior to the 2011 revolution. (CONTINUED – 220 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials…

Iraq is taking measures to safeguard its oil exports amid ongoing tensions in the Strait of Hormuz. The State Organization for Marketing of Oil (SOMO) has instructed customers to submit crude lifting schedules within 24 hours to ensure the timely and efficient execution of export operations. SOMO also confirmed that all export facilities, including the Basrah Oil Terminal, are fully operational and ready to handle shipments, according to Reuters. The move follows reports that Iran has exempted Iraq from transit restrictions through the Strait of Hormuz, potentially supporting a recovery in exports after output fell to around 800,000 barrels per…