Natural Gas

U.S.-based Apache Corporation, partnering with Egypt’s General Petroleum Corporation (EGPC), announced a new natural gas discovery in Egypt’s Western Desert, the Ministry of Petroleum and Mineral Resources said. The find followed drilling of the SKAL-1X exploratory well in the South Kalabsha area, with initial tests showing daily output of around 26 million cubic feet of gas and 2,700 barrels of condensates.

20 Mwezi wa tatu, 2026 Imeripotiwa na AI

Following Iranian strikes on Qatar's Ras Laffan LNG hub, global natural gas prices have surged, though Europe's lower dependence on Qatari supplies limits the impact. Wholesale prices are elevated but remain well below 2022 Ukraine crisis peaks, amid below-average storage levels ahead of winter.