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The Latest Breaking News from Petroleum

Waning Influence Of OPEC+ In Spotlight As Prices Flag

Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum Exporting Countries (OPEC) and its ten allies have struggled to boost flagging prices.

International Business Times

A slick show from its men gives Petroleum a record-extending 27th title in National table tennis

Petroleum & RBI win 27th & 1st titles respectively in National Table Tennis Championship.

The Hindu

An oil spill in an ignored wetland in Tamil Nadu

Even as oil from the Chennai Petroleum Corporation Limited refinery flooded houses and entered the Buckingham Canal and the Kosasthalaiyar river, which empties into the Bay of Bengal, at Ennore, the Tamil Nadu Pollution Control Board underplayed the extent of the ecological disaster.

The Hindu

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Petroleum Minister Puri visiting Kuwait as PM's special envoy to pay condolences over demise of Emir

“Hardeep Singh Puri, the Minister of Petroleum and Natural Gas and Housing and Urban Affairs, will be visiting Kuwait as the prime minister’s special envoy.”

The Hindu

Chennai oil spill threatens livelihoods of 20,000 people, habitats of migrant birds

More than 20,000 people residing on the banks of the Buckingham Canal in North Chennai’s Ennore have been severely affected by the massive oil spill from the Chennai Petroleum Corporation Ltd refinery. Now, they prepare to face far-reaching consequences to their health as well as ecosystems, on which they depend…

Newslaundry

3 Dividend Energy Stocks to Scoop Up at a Discount

Oil prices recently hit six-month lows, pressured by weak economic forecasts and high U.S. supply. Now, income investors have a chance to buy high-quality dividend energy stocks at compelling valuations.

Barchart

Berkshire Hathaway Adds Nearly $600M In Occidental Petroleum Stock After Permian Basin Acquisition

Warren Buffett's conglomerate increased its ownership of Occidental this week, signaling approval of the Houston-based oil company's purchase of CrownRock.

International Business Times

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Berkshire Hathaway Snaps Up 10.5 Million Occidental Petroleum Shares

Behold the colossal game of chess in the world of business! Berkshire Hathaway secures a place on the oil field with a sweeping 10.5M share buy of Occident...

Top News

Evaluating the Potential of 3 Energy Stocks

Governmental strategies, production cuts, and optimistic forecasts are fueling a surge in oil prices. Given this trend, let’s take a closer look at energy stocks, Delek US Holdings (DK), Solaris Oilfield (SOI), and Permianville Royalty Trust (PVL), which are exhibiting promising potential for solid gains. Read more….

StockNews.com

Unlocking Year-End Gains with Energy Stocks

Amid heightened demand for oil and gas, the energy sector is on the brink of substantial expansion. Moreover, Wall Street analysts expressed optimistic views triggered by constrained supply. Given this backdrop, quality energy stocks Marathon Petroleum Corporation (MPC), ChampionX Corporation (CHX), and Liberty Energy (LBRT) could be solid buys for…

StockNews.com

Occidental Petroleum to buy energy producer CrownRock in $12bn deal

Purchase is latest in series of big takeovers in oil and gas industry and will give Occidental more than 94,000 net acres in Texas

The Guardian - US

Analyzing 3 Energy Stocks: Buy, Hold, or Sell?

With solid oil and gas demand, coupled with limited supplies, there is a likelihood of oil price surges. Given this backdrop, it could be an opportune time for investors to add quality energy stocks like Marathon Petroleum Corporation (MPC), Par Pacific Holdings (PARR), and Graham Corporation (GHM) to the portfolio.…

StockNews.com

Ways of cooking

Eastern cooking is hot, few items eaten raw. Fuel used to be dry twigs, dung cakes, biogas, petroleum gas. Rising prices, afforestation, solar cookers used for boiling, not roasting/frying. Urban homes prefer hot meals, solar cookers not suitable for night/evening cooking.

The Hindu

Crude Rebounds as U.S. Refills the Strategic Petroleum Reserve

January WTI crude oil (CLF24 ) on Friday closed up +1.86 (+2.68%), and Jan RBOB gasoline (RBF24 ) closed up +0.0498 (+2.49%). Crude oil prices Friday rebounded from Thursday's 5-1/4 month low and posted moderate gains. Crude rallied Friday after better-than-expected U.S. economic reports on Nov payrolls and Dec consumer...

Barchart

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Barchart

Crude Prices Jump as the U.S. Refills the Strategic Petroleum Reserve

January WTI crude oil (CLF24 ) this morning is up +1.58 (+2.31%), and Jan RBOB gasoline (RBF24 ) is up +0.0450 (+2.25%). Crude oil and gasoline prices this morning are moderately higher. Energy prices are climbing today after better-than-expected U.S. economic reports on Nov payrolls and Dec consumer sentiment reduced...

The Hindu

Connections under the Pradhan Mantri Ujjwala Yojana on the rise due to migrant labourers

Oil cos in Chennai release 1.24L cooking gas connections under PMUY; target of 1.6L set. Migrant labourers incl. in approved list; get free gas stove, regulator, tube. 37.04L beneficiaries enrolled in State since 2016; 10.35cr throughout country. Eligible women from 10 categories incl. SC, ST, MBC, AAY, SECC, PMAY. Union…

Barchart

Wall Street Expects This Energy Dividend Stock to Rally 34%

For energy investors seeking a powerful combination of income and growth, here's a look at one top-rated petroleum shipping stock that offers a healthy dividend yield.

Barchart

Crude Oil: Does OPEC Have a Problem?

OPEC’s biannual meeting in late November establishes the cartel’s production policy for the coming year. The cartel scheduled the late 2023 meeting for Sunday, November 26, but the oil ministers could not agree on output quotas during preliminary meetings, causing a delay in the meeting until the end of November.

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Fortune

The head of the Middle East's largest private oil producer says we'll need '100 times more' renewable energy to meet demand

“You need to add a new Saudi Arabia every two years just to meet the current demand," Crescent Petroleum CEO Majid Jafar said at Fortune's Global Forum in Abu Dhabi.

The Hindu

Recurring robberies: fuel dealers in Kozhikode plan to cut short late-night working hours

Fuel pump owners in Kozhikode plan to cut late-night working hours due to poor police intervention to curb robberies. The All Kerala Federation of Petroleum Traders is concerned about staff safety and will decide on the issue at its State convention. They demand special legislation to protect petrol pump staff…

The Canberra Times

Maccas opens in Phillip: there'll be no burger battle but there might be a petrol price war

McDonald's has opened in Phillip and Brodburger is not worried.

The Guardian - UK

‘We have given Earth a fever’: author John Vaillant on the firestorms coming for us all

His book about a blaze so hot it vaporised concrete and turned a Canadian city to ash has just won the Baillie Gifford prize. John Vaillant explains why the world we think we live in no longer exists

Barchart

1 Energy Stock BlackRock and Buffett Are Both Betting On

None other than BlackRock is investing big in this new carbon capture technology. Here's why this top Warren Buffett oil stock might be the best way to play it.

The Independent UK

More parks, less money: Advocates say Mexico's new budget doesn't add up for natural protected areas

The administration of Mexican President Andrés Manuel López Obrador has been creating more protected natural areas, but environmentalists accuse it of trying to “greenwash” an image of favoring petroleum in a time of climate change

USAFacts

What impacts the price of oil?

Many factors can influence the price of a barrel of oil, including social and economic events, natural disasters, and geopolitical conflict.

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