Gas discovery in Egypt’s western desert
A new natural gas discovery in Egypt’s Western Desert has been announced, with initial tests indicating output of about 26 million cubic feet a day of gas and 2,700 barrels a day of condensate.
US energy firm Apache Corp. reported the find, made with the Egyptian General Petroleum Corp. after drilling the SKAL-1X exploratory well in the South Kalabsha area, according to a statement from the north African country’s petroleum ministry.
The find reflects the impact of incentives and procedures introduced by the Ministry of Petroleum and Mineral Resources, which have encouraged Apache to expand its exploration activities and increase investments, particularly in areas adjacent to its existing concessions.
In August 2024, Egypt unveiled a new set of incentives to stimulate exploration and development, increase output, and reduce the gap between domestic supply and demand. The country is seeking to boost natural gas production and accelerate drilling programs to meet growing demand.
Energy ‘vulnerable’ India seeks U.S. help
India imports nearly 90 percent of its crude oil—largely from Russia and the Middle East. With geopolitical trouble making both of those sources less reliable and leaving it vulnerable, the world’s most populous country is inviting more foreign investment to help it boost its domestic oil and gas supply, a top energy executive from India told Fortune. While India is acquiring more alternative supplies to help it ride out the war in Iran, it typically imports most of its oil from Saudi Arabia, Iraq, and Russia. At present, those Russian barrels are flowing only under a temporary waiver from the U.S., after President Trump had used higher tariffs to get India to stop buying from Russia. As part of reforms to open the country up to more domestic oil and gas exploration, India is seeking to attract $100 billion in investment by 2030.
Milk production increases as herd expansion continues nationwide
Milk production increased in February as herd growth and improved yields continue to expand U.S. dairy output, adding pressure on prices but supporting export potential.
The U.S. Department of Agriculture (USDA) reports U.S. milk production at 18.3 billion pounds, up 2.9 percent from a year ago. In the 24 major states, production reached 17.6 billion pounds, up 3.1 percent. Output per cow also improved, with national averages rising to 1,899 pounds per head, reflecting continued gains in productivity.
Operationally, herd expansion remains a key driver. The U.S. dairy herd reached 9.62 million head, up 211,000 from last year and continuing a steady upward trend. Producers are maintaining larger herds while also improving milk components and efficiency, supporting overall production growth.
Regionally, expansion remains concentrated in key dairy states, including Texas, Idaho, and South Dakota, while some traditional regions show more modest changes. Increased processing capacity in growth regions is also supporting higher output levels.
Looking ahead, rising milk supplies could put downward pressure on domestic prices, but stronger export demand and competitive pricing may help balance markets.
India is set to increase iron ore imports
The increase in imports is due, in particular, to a shortage of high-quality raw materials within the country
Iron ore imports to India are set to rise to a seven-year high in the 2025/2026 fiscal year (ending March 31) due to a domestic shortage of high-quality raw materials and demand from JSW Steel, according to Reuters.
As analysts and industry executives note, total iron ore imports for the period are likely to reach 12–14 million tons, more than double the figure for the previous fiscal year.
According to Lalit Ladkat, a senior analyst at the London-based consulting firm CRU, JSW Steel was the key driver of imports of this raw material for its plants in the states of Maharashtra and Karnataka. According to him, the bulk of imported iron ore in the current fiscal year came from Brazil and Oman — together, they accounted for about 70 percent of total imports.
Meanwhile, according to BigMint, iron ore production in India is expected to reach 305 million tons in the 2025/2026 fiscal year, compared to 289 million tons the previous year. Exports will rise by 26 percent year-on-year – to 29 million tons, with 85 percent of shipments going to China, says Ladkat.
According to representatives of the mining industry, India exports mainly low-grade iron ore, which is not typically used by the country’s steel mills. In the 2026/2027 fiscal year, which begins on April 1, production of this raw material is expected to rise as Indian mines ramp up output. However, imports may continue depending on quality requirements and supply dynamics at the plant level, explains Sumit Jundjunwala, vice president of ICRA Ratings.
Indonesia boosts coal production
According to Bernama, Indonesia intends to raise its coal output in reaction to increasing global oil prices. Coordinating Minister for Economic Affairs Airlangga Hartarto stated the policy is designed to mitigate the effect of higher fuel costs and support stability in domestic energy and commodity pricing. The directive to increase coal production volumes necessitates modifications to the approved annual work plans and budgets of mining companies. This adjustment mechanism, known as RKAB, would permit greater coal extraction. The government is also examining the potential application of export taxes on coal, with a specific team to decide the rate, as a method to enhance state revenue during a period of high energy prices. In parallel, authorities are working to speed up the process of converting diesel power plants to solar energy facilities.