London, October 28, 2025, (Oilandgaspress) –––QatarEnergy has completed a farm-in transaction with Eni, acquiring a 40% participating interest in the North Rafah exploration block offshore the Arab Republic of Egypt.
The agreement, recently approved by the government of Egypt, grants QatarEnergy a 40% stake in the offshore concession, with Eni (the Operator) retaining the remaining 60% interest. The North Rafah offshore block is located in the Mediterranean Sea, off the northeastern coast of Egypt. It spans nearly 3,000 square kilometers in water depths of up to 450 meters. Read More
Aramco closes $11bn lease deal for Jafurah gas assets
The Saudi energy giant holds the majority 51% stake in a new subsidiary that will manage facilities at the Jafurah unconventional gas field development, with a GIP-led consortium holding the other 49%. The agreement was signed by Aramco EVP of Strategy & Corporate Development Ashraf A. Al Ghazzawi and GIP Chairman & CEO Bayo Ogunlesi in the presence of Aramco President & CEO Amin H. Nasser and BlackRock Chairman & CEO Laurence Fink during the 9th Edition of the Future Investment Initiative in Riyadh. As part of the transaction, Jafurah Midstream Gas Company (JMGC) — a newly established Aramco subsidiary — has secured development and usage rights for the Jafurah Field Gas Plant and the Riyas NGL Fractionation Facility, leasing them back to Aramco under a 20-year agreement. JMGC will collect a tariff from Aramco while granting Aramco the exclusive right to process and treat raw gas from Jafurah. The agreement imposes no restrictions on Aramco’s production volumes, and Aramco maintains a 51% ownership stake in JMGC, with the remaining 49% held by the GIP-led investor group. Read More
Saudi Power Procurement Company awards five renewable energy projects with a total capacity of 4,500 MW. Valued at over 9 billion riyals (approximately $2.40 billion), these projects were secured by companies such as Masdar, TotalEnergies, and EDF. This investment represents a significant advancement in Saudi Arabia’s energy diversification strategy, bolstering its renewable energy generation capacity. Read More
A FEN spokesperson said: “Gas network operators remain committed to working across the industry to tackle the very real problem of high consumer debt, including by ensuring that any returns generated adhere to the strict regulatory framework set by Ofgem.
“Each year, networks use their returns to invest billions in enhancing the UK’s world-class gas infrastructure, keeping homes warm, industry powered, and electricity generated. This significant investment has delivered a network reliability rate of over 99%, with Ofgem’s regulatory framework enabling £16 billion of investment during the current funding period. “The returns framework set by the regulator also enables networks to provide support to hundreds of thousands of vulnerable customers every year.” . Read More
Oil prices slipped around $1 a barrel on Tuesday and were on track for a third straight day of declines as investors considered the impact of U.S. sanctions against Russia’s two biggest oil companies on global supply, along with a potential OPEC+ plan to raise output.The effect of sanctions on oil-exporting countries will be limited because of surplus capacity, International Energy Agency executive director Fatih Birol said on Tuesday. .
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $59.97 | Down |
| Crude Oil (Brent) | USD/bbl | $64.24 | Down |
| Bonny Light 27/10/25 CBN | USD/bbl | $66.66 | Up |
| Dubai | USD/bbl | $65.36 | Down |
| Natural Gas | USD/MMBtu | $3.30 | Down |
| Murban | USD/bbl | $65.64 | Down |
| OPEC basket 27/10/25OPEC | USD/bbl | $67.54 | Up |
| At press time October 28, 2025 . |
Baker Hughes Rig Count: International -3 to 1076, :U.S. +2 to 550 Canada +1 to 199
U.S. Rig Count is up 2 from last week to 550 with oil rigs up 2 to 420, gas rigs unchanged at 121 and miscellaneous rigs unchanged at 9.
Canada Rig Count is up 1 from last week to 199, with oil rigs up 2 to 138, gas rigs unchanged at 61 and miscellaneous down 1 to 0.
International Rig Count is up 8 from last month to 1,084 with land rigs up 8 to 841, offshore rigs unchanged at 243
The Worldwide Rig Count for August was 1,793, up 7 from the 1,786 counted in July 2025, and down 153, from the 1,946 counted in July 2024.
| Region | Period | Rig Count | Change |
| U.S.A | October 24, 2025 | 550 | +2 |
| Canada | October 24, 2025 | 199 | +1 |
| International | September 2025 | 1084 | +8 |
| Baker Hughes |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Victor Cole , victor@oilandgaspress
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
“Stay informed with Oilandgaspress.com—your independent source for global energy, oil, gas, EV, and automotive industry news and analysis.”
Submit your Releases or contact us now!, victor@oilandgaspress
Follow us: on Twitter | Instagram
Your Daily Source for Oil, Gas, Renewables & EV Market Insights :
latest oil and gas updates
