Global Upstream Scouting | Middle East North Africa | Another Syria Bid Round, Looking Into Shell’s Velox, Ratio Counting on Egypt Assets, Capricorn's Endgame

Host Patrick Rutty, Senior Regional Manager Tom Richards, and Senior Analyst Sheik-Imran Azim Rahman assess Syria's latest bid rounds, examining revised fiscal terms, contract lengths, and the geopolitical forces shaping the country's upstream reopening. They then discuss Shell's frontier Velox-1 exploration well offshore Egypt and what an encouraging early result could mean for the underexplored Herodotus Basin, before covering Ratio Petroleum's planned acquisition of Pharos and its significance for Israeli investment in Egypt. The episode concludes with a look at Capricorn Energy's increasingly certain future as takeover interest narrows to Genel.