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The Latest Breaking News from Petroleum

Citgo Petroleum Posts 0 Million First Quarter Profit

Citgo Petroleum reports 0 million profit in Q1, showcasing strong performance and resilience in energy sector.

Top News

CPCL refinery achieves 111% of installed capacity

Chennai Petroleum Corporation Ltd (CPCL) Refinery achieves record crude throughput and product production in 2023-24.

The Hindu

Russia Exceeds U.N. Limits On Petroleum Shipments To North Korea

Russia's illicit petroleum shipments to North Korea prompt U.S. sanctions amid escalating tensions.

Top News

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Russia is violating UN limits on petroleum shipments to North Korea, the White House says

The White House says Russia is shipping refined petroleum to North Korea at levels that exceed U.N. Security Council limits

The Independent UK

What are the Most Bullish Factors for Crude Oil?

After declining in 2023, crude oil prices rallied in Q1 2024 and have edged even higher in the early days of Q2. Crude oil remains the energy commodity that powers the world, and the price prospects over the coming months will remain bullish as markets reflect the economic and geopolitical…

Barchart

Biden administration restricts oil and gas leasing in Alaska's petroleum reserve

The administration said it will restrict new oil and gas leasing on 13 million acres in Alaska to help protect wildlife such as caribou and polar bears as the Arctic continues to warm.

WEKU

Biden administration moves to restrict oil and gas leases on 13m acres in Alaska

Environmentalists celebrate new rules but Alaska politicians call it an ‘illegal’ attack on state’s livelihood and predict lawsuits

The Guardian - US

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Biden Administration Restricts Oil Leasing In Alaskan Petroleum Reserve

Biden administration restricts oil and gas leasing in Alaska to protect wildlife and combat climate change, facing opposition from Republican lawmakers.

Top News

Are OXY and XOM Ready to Fuel Up Investors' Returns in 2024?

Geopolitical tensions and a potential disruption in supply are boosting the energy sector’s prospects. However, a slowdown in the global economy and a delay in interest rate cuts pose demand concerns for the sector. Let's analyze the investment prospects of Occidental Petroleum (OXY) and Exxon Mobil (XOM).

StockNews.com

‘Forever Chemicals,’ Religion, and Family Tragedy in Texas

PFAS do not break down but rather persist indefinitely. It is possible that Dad drank carcinogenic water for most of his life.

Texas Observer

Biden Rule Hikes Fees For Oil Projects On Public Lands

Oil companies drilling on public lands must post larger bonds and pay higher royalties under a rule finalized Friday by the Biden administration.

International Business Times

Two HPCL officials booked for alleged pilferage of petroleum products by CBI

CBI has registered a case against two HPCL Assistant Managers (Operations) posted at its Mathura Terminal in Uttar Pradesh, two private companies for alleged pilferage of petroleum products.

The Hindu

India to build first commercial crude oil strategic storage

India, the world’s third biggest oil consumer and importer, plans to build its first commercial crude oil strategic storage as part of efforts to shore up stockpiles as insurance against any supply disruption.

The Hindu

South Korea's March Inflation Rises 3.1%, Expected Slowdown

South Korea's consumer prices rose by 3.1% in March, driven by higher costs for agricultural and petroleum products. Experts predict a slowdown in inflatio...

Top News

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Barchart

4 Undervalued Energy Stocks to Buy Now, According to Morgan Stanley

The top financial services firm has turned "Overweight" on the energy sector. Here are its 4 top picks.

StockNews.com

3 Energy Stocks to Elevate Your Investment Portfolio

Growing demand for oil and gas worldwide and integration of advanced technologies and data-driven solutions position the energy sector for long-term growth. Thus, investors could consider adding fundamentally strong energy stocks NewMarket (NEU), Oceaneering International (OII), and Superior Drilling Products (SDPI) to strengthen their portfolio. Read on.

StockNews.com

3 Energy Leaders Surging in Market Performance

Amid increasing oil and gas demands, worsening geopolitical landscape, supply constraints, and surging oil prices, the energy sector is poised to witness stable growth in the near term. Against this backdrop, quality energy stocks Marathon Petroleum Corporation (MPC), DNOW Inc. (DNOW), and Matrix Service Company (MTRX) could be solid buys…

Barchart

Up 30% YTD, Is Valero Energy Stock Overvalued?

Ethanol producer and petroleum refiner VLO has outperformed the broader energy sector by a wide margin this year. Is Valero overpriced, or should investors still consider scooping up this dividend energy stock?

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The Hindu

With MCC in effect, petroleum dealers want system for daily large cash remittances

Petroleum dealers in Chennai request Election Commission to prevent seizure of cash during elections to avoid fuel shortages.

The Hindu

Petrol, diesel price cut by ₹2: Petroleum Minister

Petrol and diesel prices cut by ₹2 in New Delhi, boosting consumer spending and reducing operating costs.

The Hindu

Ankita Raina, Ramkumar Ramanathan emerge Petroleum champions

Ankita Raina and Ramkumar Ramanathan win 42nd PSPB inter-unit tennis tournament, with Ramkumar and Ankita emerging as champions.

Top News

US Bill Blocks China From Buying Oil From Strategic Reserve

US restricts China from accessing its Strategic Petroleum Reserve, impacting global oil trade dynamics.

Barchart

Gasoline: Will the Bullish Trend Continue?

Gasoline is a seasonal fuel, falling in winter and rising in spring and summer. The recent price action in crude oil, turmoil in the Middle East, the U.S. election, and the low level of the U.S. Strategic Petroleum Reserve are reasons gasoline prices could soar over the coming months.

Capital & Main

After Pushback, California Delays Extension of Rewards for Oil and Gas Companies

Opponents say a program that gives valuable credits for making fuels from crops and dairy waste props up fossil fuels companies and pollutes nearby communities.

Capital & Main

The Rising Cost of the Oil Industry’s Slow Death

Unplugged oil and gas wells accelerate climate change, threaten public health and risk hitting taxpayers’ pocketbooks. ProPublica and Capital & Main found that the money set aside to fix the problem falls woefully short of the impending cost.

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