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The Latest Breaking News from Petroleum

Oil-tainted Lake A Symptom, And Symbol, Of Venezuela's Collapse

A putrid smell hangs over the black-stained shores of Lake Maracaibo in Venezuela, where an oil slick is emblematic of the steep decline in the country's once-enviable petroleum industry.

International Business Times

US oil company ran 1977 article predicting climate crisis could cause starvation

Marathon Petroleum predecessor warned of potential for ‘social and economic calamities’ in decades-old publication

The Guardian - US

Papua New Guinea's sidelined minister to fight domestic violence charge in Sydney court next year

Papua New Guinea’s sidelined Petroleum Minister, Jimmy Maladina, will appear in a Sydney court in March to fight a charge of assaulting a woman during a domestic dispute

The Independent UK

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Papua New Guinea lawmaker pleads not guilty in Sydney court to assaulting woman

Papua New Guinea’s sidelined Petroleum Minister Jimmy Maladina has pleaded not guilty to assaulting a woman during a domestic dispute in Australia

The Independent UK

Warren Buffett Has Over 10% Of His Portfolio in Two Energy Stocks That Are Also Dividend Aristocrats

Billionaire investor Warren Buffett has been heavily investing in energy stocks in recent years as the companies accelerate innovation of low-carbon technologies.

International Business Times UK

PNG minister to be appointed after Australian arrest

Jimmy Maladina has stepped down as Papua New Guinea's petroleum minister as he faces domestic violence charges in Australia.

AAP

Energy Department Turns Ordinary Gasoline Sale Into Major Announcement

Congress forced the government to sell gasoline from the Strategic Petroleum Reserve, an obligation the Biden administration is now bragging about fulfilling.

Reason

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2 Energy Dividend Stocks That Billionaires Are Buying

Riding the wave of industry tailwinds, these two dividend-paying energy stocks have captured the attention of deep-pocketed investors.

Barchart

Is Occidental Petroleum Stock Underperforming the Dow

Occidental Petroleum has recently underperformed the Dow Jones, and Wall Street analysts anticipate a moderate upside for the stock.

Barchart

Is Marathon Petroleum Stock Outperforming the Nasdaq?

While Marathon Petroleum has outperformed the Nasdaq Composite over the past year, Wall Street analysts remain cautiously optimistic about the stock’s prospects.

Barchart

Billionaire Warren Buffett Scoops Up Over 7 Million Shares Of This Oil Company In 2 Weeks

Occidental Petroleum's grand ambitions of low-carbon energy transition caught Warren Buffett's attention. Berkshire Hathaway holds almost 29% stake in the energy firm.

International Business Times UK

Federal appellate panel sends Michigan pipeline challenge to state court

A federal appellate panel says a Michigan state judge will have to decide whether to shut down a portion of an aging petroleum pipeline running beneath the Straits of Mackinac

The Independent UK

1 Energy Dividend Stock to Invest in Lithium Like Warren Buffett

Given Warren Buffett’s rising interest in lithium, investors might want to follow his lead and consider this dividend-paying energy stock.

Barchart

Oil And Gas Industry Hops On Generative AI Bandwagon

Away from the Microsoft and Googles of the world, a century-old industry -- oil and gas -- is hoping that generative artificial intelligence will make producing petroleum more efficient and easier on its workforce.

International Business Times

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Fortune

Biden sold off nearly 50% of the Strategic Petroleum Reserve. Is that a problem?

"When people say, 'Oh no, it’s so low,' well, what is it there for? It’s there to help us out."

The Conversation

South Africa’s largest oil refinery sold for a few cents: will BP and Shell be held accountable for environmental damage?

The sale of the South African Petroleum Refinery (Sapref), jointly owned by multinational energy companies BP and Shell, to the state-owned Central Energy Fund for R1 (five US cents) raises questions about whether the company is evading its social and environmental liabilities.

Top News

OPEC Plus Extends Oil Production Cuts Through 2025

OPEC extends oil production cuts, impacting global prices and U.S. consumers. Biden taps Strategic Petroleum Reserve amid concerns. U.S. oil production sta...

International Business Times

ConocoPhillips To Buy Marathon For $22.5 Bn In Latest Big Oil Deal

US energy giant ConocoPhillips announced Wednesday that it is acquiring competitor Marathon Oil for $22.5 billion in the latest big petroleum merger consummated in spite of rising concerns about climate change.

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LiveScience

10 surprising things that are made from petroleum

From chocolate to toothpaste, many surprising household products and everyday items are made from petroleum.

Barchart

Are Wall Street Analysts Predicting Occidental Petroleum Stock Will Climb or Sink?

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

The Texas Tribune

Texas lizard added to endangered species list over the oil and gas industry’s objections

The dunes sagebrush lizard lives in the same West Texas land that supports the state’s biggest oil and gas fields, and industry leaders say the new designation will hurt drilling and production.

The Hindu

Gas tanker overturns at Mangalapuram

Mangalapuram on the outskirts of the State capital faced tense moments when a tanker carrying liquefied petroleum gas (LPG) overturned on Sunday, prompting the authorities to sound an alert and redirect traffic from the National Highway (NH) 66 for several hours.

The Conversation

South African communities vs Shell: high court victories show that cultural beliefs and practices count in climate cases

When the Shell petroleum company announced in 2021 that it wanted to explore for fossil fuels off South Africa’s pristine Wild Coast, Indigenous communities in the area immediately fought back through the country’s courts.

The Guardian - US

Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds

Ex-president at Mar-a-Lago last month hosted more than 20 executives, including from Chevron, Exxon and Occidental Petroleum

The Hindu

Villagers end protests against CPCL

Villagers from Panangudi, Narimanan, and Gopurajapuram in Nagapattinam district have ended their 11-day hunger strike demanding due compensation from the Chennai Petroleum Corporation Ltd. (CPCL) for those affected by land acquisition for the company’s expansion project have ended their stir

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