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The Latest Breaking News from Petroleum

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

The Independent UK

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.

USAFacts

Texas chemical plant explosion causes fire and triggers evacuations

Explosion and subsequent fire happened at petroleum processing plant in Shepherd, Texas, about an hour outside Houston

The Guardian - US

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Texas chemical plant explosion sparks shelter in place

The explosion erupted at a petroleum processing plant, but the cause is not immediately clear

The Independent UK

Occidental Petroleum (OXY) Earnings Forecast

Occidental Petroleum’s (OXY) revenue and earnings missed analysts’ estimates in the last reported quarter. As the oil giant gears to release its third-quarter financial results today after the market closes, how should investors approach this stock? Read on to know more….

StockNews.com

Secure These 3 Energy Stocks Amid Conflict

Amid the ongoing volatility in the Middle East, the oil market is delicately balanced and on the brink of significant price surges. Given this backdrop, quality energy stocks Marathon Petroleum Corporation (MPC), Valero Energy Corporation (VLO), and Cheniere Energy (LNG) could be solid portfolio additions now. Read on….

StockNews.com

Energy Update: Down 14% From it's 2023 High, is Now a Good Time to Scoop Up Crude Oil?

Crude oil prices have been highly volatile. Winter is an off-season for crude oil because gasoline demand declines as drivers put less mileage on automobiles. Meanwhile, the geopolitical landscape and the level of the U.S. Strategic Petroleum Reserve remain compelling reasons for a higher low in the oil futures market…

Barchart

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Corruption like cancer, will take away growth: Hubballi-Dharwad Police Commissioner

“If what is bad or not good, is not portrayed accordingly there are chances that it will become a new normal and will lead to dangerous consequences,” Hubballi-Dharwad Police Commissioner Renuka Sukumar said here on Saturday. She was inaugurating the ‘Vigilance Awareness Programme’ organised by The Hindu in association with…

The Hindu

Bullish or Bearish ⎯ Analyzing 3 Energy Stocks

The energy sector is poised for significant expansion, propelled by escalating crude oil prices. Given this backdrop, let’s analyze the energy stocks Suncor Energy (SU), Marathon Petroleum Corporation (MPC), and Shell plc (SHEL) to see whether investors should be bullish or bearish on the stocks now. Read on….

StockNews.com

Mumbai air pollution: MPCB asks Hindustan Petroleum, Tata Power to cut down production by 50%

MPCB orders 50% cut in production by HPCL, Tata Power, Aegis Logistics & Sealord Containers to curb air pollution in Mumbai. Bank guarantee of ₹10 lakh & ₹5 lakh forfeited for Aegis Logistics & Sealord Containers respectively. Two RMC plants closed down. MPCB to monitor emissions from BPCL, HPCL, RCF,…

The Hindu

3 Budget-Friendly Energy Stocks to Buy Now

The energy sector seems poised for significant growth, thanks to robust global demand for oil and gas and constrained supplies pushing prices higher. Given the industry’s promising outlook, fundamentally sound, cost-effective energy stocks Energy Transfer (ET), CVR Energy (CVI), and Euronav (EURN) could be ideal buys now. Keep reading….

StockNews.com

‘Cash-for-query’ row: 62 questions by Mahua Moitra, 9 on Adani, 1 on Hiranandani group

As the Lok Sabha ethics committee prepares to hear cash-for-query allegations against Trinamool Congress MP Mahua Moitra, accusations are piling up about the misuse of parliamentary privileges, allegedly to help the Hiranandani Group and target its business rival Adani Group.

Newslaundry

Energy Analyst Questions U.S. Department Of Energy’s Move To Purchase Oil For Strategic Petroleum Reserve

Analyst raises concerns over bid solicitation for oil purchases while prices remain high.

Zenger

3 Energy Stock Picks for Steady Long-Term Momentum

The energy sector’s outlook looks bright amid rising oil prices fueled by constrained supplies and robust demand for crude oil and natural gas worldwide. Thus, Exxon Mobil (XOM), Shell (SHEL), and Imperial Petroleum (IMPP), with solid long-term momentum, could be ideal stock picks now. Keep reading….

StockNews.com

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The Hindu

Polls likely to impede cash movement by trade, may turn Deepavali bleak for some

Petroleum dealers, textile wholesalers, and jewellers in Hyderabad are worried about cash movement and harassment due to intensified vehicle checks with the announcement of Telangana's Legislative Assembly polls. Digital payments are on the rise, but cash remains significant.

Barchart

Occidental Petroleum Looks Like a Good Bet - Especially for Short Put Traders

Out-of-the-money put premiums in Occidental Petroleum that look attractive to sell short are appealing to investors for additional income. This opportunity works for long-term investors.

Capital & Main

‘A Setup for Disaster’: California Legislation Requiring Companies to Pay for Oil and Gas Well Cleanup in Limbo

The bill, which awaits a decision by Gov. Gavin Newsom, follows ProPublica’s reporting on the multibillion-dollar cost to clean up California’s oil and gas industry and the exodus of major companies shifting ownership of thousands of aging wells.

Barchart

Have Oil Prices Peaked or is This a Temporary Dip?

While the U.S. and Europe continue to favor alternative and renewable fuels, crude oil remains the energy commodity that powers the world. After reaching a low in May 2023, crude oil has moved significantly higher to over $95 per barrel at the most recent high.

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The Hindu

Safety issues at retail petroleum outlets in focus in Chennai

Last week’s collapse of the canopy at a petrol bunk on East Jones Road in Saidapet in Chennai that left one dead and several injured has turned the focus on the stability of structures at petroleum retail outlets in the city

The Conversation

Rosebank shows the UK's offshore oil regulator no longer serves the public good

In a four-line statement announcing the approval of the new Rosebank oil field 80 miles west of Shetland, the UK’s offshore oil and gas regulator showed its mission no longer serves the public good.

StockNews.com

3 Energy Stock Investments Beating Exxon Mobil (XOM)

Considering the burgeoning crude oil prices, the energy sector has considerable potential for significant expansion this year. Given this backdrop, quality energy stocks TotalEnergies SE (TTE), Marathon Petroleum Corporation (MPC), and Valero Energy Corporation (VLO), which are outpacing Exxon Mobil (XOM), could be wise portfolio additions now. Read on….

Dynamite News

PM Modi dedicates Rs 13,500 cr worth projects in poll-bound Telangana

Prime Minister Narendra Modi has dedicated and laid the foundation stone of multiple developmental projects worth more than Rs 13,500 crore in important sectors like road, rail, petroleum and natural gas and higher education in poll-bound Telangana. Read further on Dynamite News:

The Hindu

Oil firms raise ATF, commercial LPG prices

State-run Oil marketing companies (OMCs) have hiked the prices of 19-kg commercial liquefied petroleum gas (LPG) cylinders by a little over ₹200 each with effect from October 1

The Independent UK

Swiss prosecutors indict an ex-employee of trading firm Gunvor over bribes paid in Republic of Congo

Swiss federal prosecutors say they have indicted a former employee of the Geneva-based commodities trading firm Gunvor over bribes paid to obtain access to the Republic of Congo’s petroleum market more than a decade ago

The Hindu

Plea to consider Deepam households in Telangana, A.P. for LPG subsidy

Nearly 85 lakh households across Telangana and Andhra Pradesh using LPG connections issued under the Deepam scheme are not getting the subsidy of ₹200 per cylinder like the Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries.

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