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The Latest Breaking News from Petroleum

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

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.

WEKU

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….

StockNews.com

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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

The Guardian - UK

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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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

The Independent UK

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.

Radio France Internationale

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),…

StockNews.com

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.

The Hindu

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…

Newslaundry

How has Red Sea trouble impacted India? | Explained

Houthi militia attacks in Red Sea force cargo ships to take longer route, impacting global trade & increasing freight costs.

The Hindu

Fresh by-election nightmare for Rishi Sunak as Tory MP vows to quit over oil drilling law

The former energy minister has said he will quit over the Offshore Petroleum Licensing Bill

Evening Standard

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Barchart

Stocks Finish Mostly Lower as Higher Bond Yields Undercut Tech Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) on Thursday closed down -0.34%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.03%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.53%. Stocks on Thursday settled mixed, with the S&P...

Barchart

Crude Oil: Will the Tug of War Between Bulls and Bears Continue in 2024?

Crude oil closed 2023 at below $72 per barrel. The price was lower for the year and just below the U.S. administration’s $67 to $72 per barrel buying zone to replenish the Strategic Petroleum Reserve. As the market heads into 2024, bullish and bearish factors pull the energy commodity in…

International Business Times

APA To Acquire Callon Petroleum In $4.5 Bn Deal

US energy company APA Corporation has agreed to buy competitor Callon Petroleum in a transaction valued around $4.5 billion including debt, the firms announced Thursday, marking the latest deal in the sector.

The Hindu

Strike by oil tanker drivers allays dealers’ fears of loss due to fuel price drop

Petroleum dealers' fears of losses on stock contained due to customer rush caused by tanker drivers strike, leading to traffic snarls and stock outs.

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The Hindu

Fuel stations in Hyderabad go dry as motorists queue up

Nation-wide strike by petroleum tanker drivers causes panic-buying & long queues at petrol bunks in Hyderabad.

The Hindu

Petroleum dealers urge OMCs to reduce fuel prices gradually

The Independent UK

New Mexico proposes regulations to reuse fracking wastewater

New Mexico environmental officials have proposed a new regulatory framework for reusing wastewater with a major focus on treating and repurposing the used, salty byproducts of oil and natural gas drilling in a major U.S. petroleum production zone

The Independent UK

New Mexico native will oversee the state's $49B savings portfolio amid windfall from petroleum

A state cabinet secretary and former economist to the Legislature has been selected to oversee New Mexico’s $49 billion nest egg of savings and trust accounts at the State Investment Council

Reason

William Barr Responds on American Petroleum Institute v. Minnesota

The former Attorney General disagrees with me on whether state and local government climate change lawsuits belong in federal court.

Dynamite News

India's energy odyssey: Navigating global oil challenges and forging a sustainable future

India, a burgeoning player in the global energy arena, finds itself at a critical juncture in the intricate tapestry of the world's oil dynamics. Read further on Dynamite News:

Latin Times

Argentine President Javier Milei Signs Economic Reform Decree, Plans To End Limits On Exports

The initiatives include easing government regulations and privatization of state-owned companies. Though the president didn't mention the names of any firms, he had previously supported the privatization of state-run petroleum refinery YPF.

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