The Latest Breaking News from Petroleum

Cooling inflation and a tight labor market have raised optimism that the economy might avoid a recession. As the global economic outlook turns optimistic, it could be wise to add quality stocks with solid fundamentals, Marathon Petroleum (MPC), HF Sinclair (DINO), and Overseas Shipholding (OSG), which look well-positioned to soar…

Nine will have to pay $545,000 to Papua New Guinea politician William Duma over a series of defamatory AFR articles that falsely accused him of corruption.

The Federal Court could overturn a controversial call by former prime minister Scott Morrison to veto a gas drilling project off the NSW coast.

The Egyptian Cabinet approved on Wednesday 13 draft agreements between the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding Company, and a number of international companies. Under the deals, the Egyptian General Petroleum Corporation will be responsible for oil exploration in areas west of Wadi Natrun, east of Siwa,…

Occidental Petroleum made it back on Fortune's list of the World's Most Admired Companies after a challenging two years away.

The Arab League Educational, Cultural and Scientific Organization (ALECSO), in cooperation with the Saudi National Commission for Education, Culture and Science (SNC), is set to host the inaugural edition of a major international conference on culture, science and education in the 21st century. The conference, ‘Future of Education, Science, and…

The Industrialization and Energy Service Company (TAQA) announced the closure of its 100 percent acquisition of al-Mansoori Petroleum Services, expanding TAQA Well Solutions business internationally. The acquisition is funded by a capital increase led by TAQA's existing significant shareholders. The investment brings to TAQA a long-established, well-diversified MENA-based business with…

OPEC oil output fell in January, a Reuters survey found on Tuesday, as Iraqi exports declined and Nigerian output did not recover further while Gulf members maintained strong compliance with an OPEC+ deal on production cuts to support the market. The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.87…

The new president of Venezuela's opposition legislature is confident the United States will back the body by continuing to protect foreign assets like oil refiner Citgo Petroleum from creditors, she said on Friday.