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The Latest Breaking News from Petroleum

Occidental Considers B Sale Of Western Midstream

Occidental Petroleum Corp considers selling Western Midstream Partners LP to reduce debt and streamline operations.

Top News

Maduro Vows To Bar ExxonMobil From Guyanese Region Claimed By Venezuela

Venezuelan President Nicolas Maduro has vowed to bar US petroleum giant ExxonMobil from the waters off the oil-rich region of Essequibo, which Caracas claims from Guyana as its own.

International Business Times

What to Do When a Field "Ages": How Digital Models Help Extract Oil for Longer

Modern engineering approaches to improving production efficiency as explained by Vladislav Dorofeev, a reservoir development specialist at the Engineering Projects Department of ITMO National Research University, a petroleum reservoir engineer, and a recognized expert in digital reservoir simulation and production optimization, participating in projects for optimizing oil asset development and…

inkl

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LCR launches MotoGP 2024 bikes ahead of Qatar test

As has been the case in previous years, LCR has gone for a split approach with its MotoGP liveries in 2024, with one of its two satellite Honda R213Vs sporting the colours of Castrol and the other bike carrying the backing of Japanese petroleum company Idemitsu.

Autosport

LCR launches 2024 MotoGP bikes ahead of Qatar test

As has been the case in previous years, LCR has gone for a split approach with its MotoGP liveries in 2024, with one of its two Honda R213Vs sporting the colours of Castrol and the other bike carrying the backing of Japanese petroleum company Idemitsu.

Motorsport

Occidental Petroleum's Profit Surpasses Estimates with Increased Production

Discover how Occidental Petroleum exceeded profit expectations by increasing production, highlighting their ongoing success in the oil and gas industry.

Top News

OXY Earnings Spotlight: Actionable Insights and Gameplan

With expectations of an oil supply shortage and a multi-billion-dollar acquisition on the cards, does energy giant Occidental Petroleum (OXY) deserve a place in your portfolio prior to its fourth-quarter earnings release? Let’s look at its financial metrics to know more….

StockNews.com

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Unlock 2024 Success With These 3 Energy Stocks

Geopolitical tensions and economic uncertainties present considerable potential to drive oil prices higher. Therefore, one could capitalize on this by investing in robust energy stocks HF Sinclair (DINO), CVR Energy (CVI), and REX American Resources (REX) for solid returns. Read on.

StockNews.com

3 Energy Stocks Wall Street Loves

As geopolitical tensions escalate and demand surges alongside production slowdowns, oil prices are reaching boiling point. In this volatile environment, loading up the shares of three energy companies favored by Wall Street, Marathon Petroleum Corp (MPC), Weatherford International (WFRD), and Geospace Technologies (GEOS), might be a wise move. Read more….

StockNews.com

Remy: All Oil Everything (Trinidad James Parody)

Petroleum bye products.

Reason

Scores of UK households left without heating after LPG delivery delays

People in remote homes who rely on liquid petroleum gas report being left without fuel in freezing conditions

The Guardian - UK

This Week's Top 3 Energy Stock Gainers

Fueled by solid demand forecasts and elevated geopolitical tensions in the Middle East, the prevailing energy sector’s landscape appears promising. In such a scenario, it might be an opportune time to scoop up the shares of three top-notch energy companies, ChampionX Corp (CHX), CVR Energy (CVI), and Precision Drilling Corp…

StockNews.com

State government introduces bill to kill-off PEP11 offshore gas project

State government bill will prohibit offshore petroleum drilling projects in NSW.

Newcastle Herald

IIPE in Visakhapatnam launches a pilot project to produce green hydrogen using NTPC’s desalinated water

Indian Institute of Petroleum & Energy (IIPE) in Visakhapatnam launches pilot project to produce green hydrogen, aiming for net zero carbon emissions by 2070.

The Hindu

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WEKU

A fire set off by a gas explosion in Kenya kills at least 3 people and injures 280

Liquid petroleum gas cylinders exploded in an illegal depot in a residential area of the Kenyan capital, officials said Friday, setting off the inferno. The death toll was expected to rise.

StockNews.com

OXY vs. VLO - Buy or Hold in the 2024 Energy Market?

The energy sector continues to demonstrate resilience, buoyed by escalating geopolitical tensions, steadfast demand, and deliberate production cuts. In such a scenario, which energy stock, Occidental Petroleum Corp (OXY) or Valero Energy Corp (VLO), is better positioned to thrive? Let’s find out….

The Guardian - UK

The government’s oil and gas bill breaks promises and sows division

Letter: The offshore petroleum licensing bill will not achieve anything other than weakening the UK’s climate commitments, write a group of MPs and academics including Caroline Lucas and Sarah Champion

Top News

New Mexico Legislature Advances Bill to Modernize Oil Industry Oversight

An effort to modernize oversight of New Mexico's oil industry moves forward at the Legislature, aiming to address environmental concerns and industry growth.

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The Hindu

Tax contribution by States needs to be revisited

Since the 1st Finance Commission, some States have been arguing that their contributions to the Union tax revenue have been higher than others and, therefore, they rightfully have higher shares in the Union tax revenue.

Top News

Africa's Largest Oil Refinery Begins Production in Nigeria

Africa's largest oil refinery in Nigeria has begun production, potentially boosting the region's refining capacity and reducing reliance on imported petrol...

The Independent UK

Africa’s biggest oil refinery begins production in Nigeria with the aim of reducing need for imports

Africa’s biggest oil refinery has begun production in Nigeria after a yearslong wait

Radio France Internationale

Africa's biggest fuel refinery starts production in move toward self-sufficiency

Nigeria's long-awaited Dangote refinery has begun producing diesel and aviation fuel, the company said on Saturday, after years of delays. The plant, the largest of its kind in Africa, is expected to supply not only Nigeria but other countries in West Africa – potentially transforming the region's oil trade.

StockNews.com

3 Oil & Gas Stocks in Focus This Week

Robust demand for oil and gas, production dynamics, and geopolitical tensions project a potential surge in oil prices for the foreseeable future. To that end, let's turn our attention to scrutinizing quality oil and gas stocks Enterprise Products Partners L.P. (EPD), Marathon Petroleum Corporation (MPC), and Global Partners LP (GLP),…

The Hindu

Kannada price boards mandatory at petrol stations in Karnataka from Wednesday

Petrol stations in Karnataka will have to mandatorily display the price boards in Kannada too from Wednesday. Announcing this at a press conference in Bengaluru on Tuesday, Union Minister for Petroleum Hardip Singh Puri said he had issued instructions to oil companies.

Newslaundry

Chennai oil spill: Despite promises, no compensation for thousands of families, allege residents

Residents of Tiruvottiyur’s wards four and six who claim to be affected by the oil spill caused by the Chennai Petroleum Corporation Limited in December have alleged that they were not considered for compensation. The ward councillors said the compensation assessment, undertaken by revenue officials, has overlooked thousands of affected…

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