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The Latest Breaking News from Petroleum

The Strait of Hormuz is a critical choke point for global energy markets, but there are ways to get around it

About 20 million barrels of oil a day flow through the Strait of Hormuz, or the equivalent of 20% of global petroleum liquids consumption.

Fortune

Occidental Petroleum, Exxon Mobil, Chevron Surge In Monday Pre-Market: What's Going On?

Occidental Petroleum Corp (NYSE:OXY), Exxon Mobil Corp (NYSE:XOM) and Chevron Corp (NYSE:CVX) climbed 1.95%, 1.53% and 1.31% during Monday pre-market trading session after oil prices have skyrocketed to their highest point since January, sparking concerns about potential supply disruptions.

Benzinga

Texas creating task forces to target Permian Basin oil field thefts

Texas lawmakers passed a suite of bills that officials said are crucial to combat losses in the state’s largest oil field.

The Texas Tribune

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Warren Buffett Loves This Cheap Dividend Stock and So Do Company Insiders

With Warren Buffett’s Berkshire Hathaway holding over 28% of its shares and company insiders also buying in, Occidental Petroleum is a cheap energy stock with strong fundamentals.

Barchart

US appeals court refuses to vacate Biden approval of Alaska's Willow oil project

A federal appeals court panel has refused to vacate the approval of the massive Willow oil project on Alaska’s petroleum-rich North Slope

The Independent UK

Rosebank oilfield: why more UK oil means more global emissions

The UK government will soon face a momentous decision over whether to approve production in the Rosebank oilfield off the coast of Shetland.

The Conversation

A Large Oil Supply Draw Could Mean Upside in These 3 Energy Names

As the United States draws oil inventory by the largest amount since December 2024, there could be bottlenecks sending oil prices higher.

MarketBeat

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Is Occidental Petroleum Stock Underperforming the Nasdaq?

Due to Occidental Petroleum's weak performance relative to the broader Nasdaq Composite over the past year, Wall Street analysts remain cautious about the stock’s prospects.

Barchart

Is Marathon Petroleum Stock Underperforming the S&P 500?

Marathon Petroleum has underperformed the S&P 500 over the past year, but analysts are moderately optimistic about the stock’s prospects.

Barchart

Trump officials open up millions of acres in Alaska to drilling and mining

Doug Burgum says Biden order that banned drilling in 23m-acre National Petroleum Reserve-Alaska will be reversed

The Guardian - US

Canada’s wildfires may impact gas prices: here’s how

Patrick De Haan, head of petroleum analysis at GasBuddy, told The Independent that if Canada’s oil production shutdown continues, “it could be a bit more problematic to [U.S.] refineries and it could be more impactful.”

The Independent UK

Woodside toxic spill near Ningaloo Reef world heritage area under investigation

Estimated 16,000 litres of petroleum products spilled into Indian ocean on 8 May during decommissioning works at Griffin field

The Guardian - AU

What Are Wall Street Analysts' Target Price for Marathon Petroleum Stock?

Marathon Petroleum has underperformed the broader market over the past year, but analysts are moderately optimistic about the stock’s prospects.

Barchart

Why filling the Strategic Petroleum Reserve could be the secret to Trump's Middle East success

President Trump and OPEC both want increased oil production, but there could be a solution to their difference on opinion on prices.

Fortune

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Roll Call

Reconciliation text would rescind energy, environment funding - Roll Call

House Republicans plan to rescind unspent funds from the 2022 climate law and boost the Strategic Petroleum Reserve in reconciliation.

MarketBeat

OXY Stock Rebound Begins Following Solid Earnings Beat

Occidental Petroleum is overcoming obstacles and effectively reducing costs. The margin is widening, and cash flow sustains a robust outlook for shareholders.

The Conversation

Recycling asphalt pavement can help the environment − now scientists are putting the safety of recycled pavement to the test

More than 90% of paved roads in the U.S. are made of asphalt, which is constructed with nonrenewable materials such as petroleum. One way to make paving more sustainable is to recycle old pavement. When roads break down and need repaving, transportation agencies can recycle their old pavement into a…

Barchart

Is This Warren Buffett Dividend Stock a Buy Before May 3?

A favorite of the Oracle of Omaha in recent years, murmurs are getting stronger of a buyout of the company by the legendary investor.

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The Conversation

Alaska, rich in petroleum, faces an energy shortage

In the state with the fourth-largest proven reserves of oil and gas in the U.S., there is a looming energy shortage.

Barchart

Marathon Petroleum's Quarterly Earnings Preview: What You Need to Know

Marathon Petroleum is expected to release its fiscal first-quarter earnings next month, and analysts project a triple-digit earnings fall.

Barchart

What You Need To Know Ahead of Occidental Petroleum's Earnings Release

Occidental Petroleum is gearing up to announce its Q1 results in the upcoming month, and analysts expect a solid double-digit growth in earnings.

MarketBeat

Occidental Petroleum: Unpacking Its Onshore Oil & Gas Strength

Occidental Petroleum's largest business segment is its onshore oil & gas production with nearly 2.7 million acres in the Permian Basin, here's what's coming.

The Conversation

Lawsuits seeking to address climate change have promise but face uncertain future

The U.S. Supreme Court in March 2025 ended a decade-old lawsuit filed by a group of children who sought to hold the federal government responsible for some of the consequences of climate change. But just two months earlier, the justices allowed a similar suit from the city and county of…

MarketBeat

Buffett Loves Occidental Petroleum—Should You? 4 Pros, 3 Cons

Buffett hasn’t sold a single OXY share in 2025. Discover if now is the right time to invest in Occidental Petroleum amid oil price drops and debt concerns.

MarketBeat

Why This Beaten-Down Oil Stock Could Skyrocket 51% in 2025

Marathon Petroleum stock is down, but bullish analysts and rising oil demand suggest a 51% upside. Here’s why investors shouldn’t overlook this energy play.

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