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The Latest Breaking News from Petroleum

Today in Supreme Court History: August 16, 1933

8/16/1933: President Roosevelt adopts the Code of Fair Competition for the Governance of the Petroleum Industry. The Supreme Court declared those codes unconstitutional in Panama Refining Co. v. Ryan (1935).

Reason

Karnataka has 312 operational CNG stations, 1,414 more planned

Union Minister of State for Petroleum & Natural Gas recently told the Rajya Sabha that 312 CNG stations had been established in Karnataka while 1,414 more will be set up in 8-10 years.

The Hindu

Many Indane LPG distributors object to being forced to sell biscuits and flour in Chennai

Many distributors of the Indane liquefied petroleum gas (LPG) of the Indian Oil Corporation Ltd. are objecting to the oil marketing company (OMC) asking them to sell products of two private brands.

The Hindu

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How High Will Oil Prices Rise?

Nearby WTI and Brent crude oil futures settled at $70.64 and $74.90, respectively, at the end of Q2 2023. WTI futures were 6.65% lower in Q2 and fell nearly 12% over the first half of 2023. Brent fell 6.25% in the second quarter and was almost 12.75% lower over the…

Barchart

IIT Madras to offer PG course on applied petroleum engineering

IIT Madras’ Digital Skills Academy is offering a web-enabled postgraduate advanced certification course in applied petroleum engineering and hydrogen energy. The Institute is partnering with Zemblance Hydrocarbons and experts from Oil and Natural Gas Corporation, IndianOil, GAIL (India) and Chennai Petroleum Corporation Ltd. to provide practical insights. The hybrid programme…

The Hindu

How much oil is produced in the US?

Since 2018, the US has been the largest producer of crude oil in the world.

USAFacts

3 Quality Energy Stock Buys Investors Are Pursuing

With fossil fuels likely to find continued usage in the foreseeable future, quality energy stocks HF Sinclair (DINO), Weatherford International (WFRD), and CVR Energy (CVI) are justifiably popular on Wall Street. Read on….

StockNews.com

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British Petroleum delegation from U.K. visits VIT, Vellore

BP delegation visits VIT Vellore to create awareness on digital trends in energy industry. Four-member team, led by Ms. Joanne Legge, held strategic discussion with VIT founder-chancellor G. Viswanathan. Pro vice chancellor Partha Sharathi Mallick briefed delegation on intellectual capital, research activities, infrastructure and industry interface. Deans from various schools…

The Hindu

Tar balls are being found 100 miles downstream from Yellowstone River train derailment

Tar balls have shown up 100 miles downstream of a railroad bridge collapse last month that sent numerous tank cars carrying petroleum products plummeting into Montana’s Yellowstone River,

The Independent UK

Kenya braces for 3 days of anti-gov’t protests: All the details

The latest round of anti-government protests in Kenya has been scheduled after tax hikes add to soaring cost of living.

Al Jazeera

Prince Andrew ‘asked Epstein for help with £150m oil deal during New York trip’

Epstein passed request on to his personal banker while prince stayed at his Manhattan mansion in 2010

The Independent UK

Kochi-Salem LPG pipeline to run alongside NH544

Most of the Kochi-Salem Liquefied Petroleum Gas (LPG) pipeline in Tamil Nadu will run along National Highway 544 (NH544) that runs between these two locations.

The Hindu

4 Reasons to Expect Higher Energy Prices in the Second Half of 2023

The energy sector includes the traditional commodities that power the world. Oil, natural gas, and coal are hydrocarbons, while ethanol is an alternative fuel. The energy sector edged marginally lower in Q2 2023 but remained the worst-performing commodity market sector over the first half of 2023.

Barchart

Caribbean leaders seeking discounted oil criticize US sanctions against Venezuela

Caribbean leaders are denouncing U.S. economic sanctions against oil-rich Venezuela and say they’ve been forced to buy costlier petroleum elsewhere as they struggle with tight budgets

The Independent UK

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France 24

OPEC meeting kicks off with benchmark oil prices under pressure

In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European…

The Hindu

Refill supplies to HPCL cooking gas users hit

Cooking gas refill supplies to customers of Hindustan Petroleum Corporation Ltd (HPCL) are taking more time than usual with the national oil marketing company modernising its ERP platform.

The Guardian - UK

Pure petrofiction: why writers will keep drilling for stories about oil

From tales of ‘hissing’ oilmen to ‘crying’ trees, novels about petroleum and its devastating effect on communities and the environment are powerful fiction for our times – with the potential for prophecy

Barchart

Can Gasoline Make A Move During the Driving Season?

With the July 4 holiday on the horizon, the 2023 vacation season is underway. Travel during school and work vacations peaks, and so does the demand for fuel. Gasoline remains the energy commodity that powers most cars.

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The Hindu

PM Modi holds stocktaking meet on Manipur with senior Ministers

Prime Minister Narendra Modi on June 26, 2023 chaired a meeting with Home Minister Amit Shah, Finance Minister Nirmala Sitharaman and Urban Affairs and Petroleum Minister Hardeep Singh Puri

The Hindu

Prime Minister Narendra Modi meets thought leaders in Egypt

Prime Minister Narendra Modi on June 24 met prominent personalities in Egypt, including Hassan Allam, CEO of one of the largest Egyptian companies operating in the Middle East and North African region, and Tarek Heggy, a renowned author and petroleum strategist.

360info

Cheap Russian oil fuels India’s response to Ukraine war

The West expected India to turn its back on Russia, but a look at the numbers shows that expectation never seemed realistic or likely.

The Hindu

CITU leader removed from post for buying luxury car

The Communist Party of India (Marxist) [CPI(M)] has removed P.K. Anil Kumar from the post of general secretary of the Kerala Petroleum and Gas Workers’ Union, affiliated to the Centre of Indian Trade Unions (CITU), following a probe into the purchase of a high-end luxury car for his son.

Bangkok Post

WP Energy revenue set to rise by 9.4%

WP Energy Plc, Thailand's second-largest liquefied petroleum gas (LPG) trader by sales volume, expects revenue to increase by 9.4% to 17 billion baht this year, up from 15.5 billion baht in 2022, though the government's LPG price subsidy is scheduled to expire at the end of this month.

Bangkok Post

Chevron eyes greater Thai gas production

Chevron Thailand Exploration and Production wants to increase domestic gas supply to allow the government be less dependent on costly liquefied natural gas (LNG) imports, with the company ramping up petroleum production in the Gulf of Thailand.

The Hindu

Petroleum Minister Hardeep Singh Puri comments on reducing petroleum prices at BJP headquarters

To questions on whether a reduction in oil prices was under consideration, Union Petroleum Minister Hardeep Singh Puri said he was not in a position to make an announcement on the issue.

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