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The Latest Breaking News from Petroleum

Alaska's Willow oil project is controversial. Here's why.

Supporters say a major oil project President Joe Biden is OK'ing on Alaska’s petroleum-rich North Slope represents an economic lifeline for Indigenous communities while environmentalists say it runs counter to his climate goals

The Independent UK

As Biden weighs the Willow oil project, he blocks other Alaska drilling

The move to limit oil drilling in 16 million acres in Alaska and the Arctic Ocean comes as regulators prepare to decide on the Willow project, a controversial plan pushed by ConocoPhillips.

WEKU

Egypt, US Discuss Energy Security

Egypt’s Minister of Petroleum and Mineral Resources Tarek el-Molla held several meetings in Washington with some businessmen, research and academic institutions, officials of the Ministry of Energy, and members of the US Congress. The Minister said that his visit to the US aimed to discuss ways to enhance cooperation in…

Asharq Al-Awsat

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PTTEP grabs 2 new licences in Gulf

PTT Exploration and Production Plc (PTTEP) was awarded exploration and production licences at two of three new petroleum blocks in the Gulf of Thailand, a move that should pave the way for more domestic oil and gas supply to strengthen the country's energy security.

Bangkok Post

Gas industry lobbying hard against EU boiler phaseout, leaked emails suggest

Liquid petroleum gas firms want a directive to favour biofuels and hydrogen, to which they could pivot

The Guardian - UK

PTTEP wins 2 new licences in Gulf

PTT Exploration and Production Plc (PTTEP) has been awarded exploration and production licences at two of three new petroleum blocks in the Gulf of Thailand, which should pave the way for more domestic oil and gas supply to strengthen the country’s energy security.

Bangkok Post

Sámi demonstrators end wind farm protest

Norway apologizes for its human rights violations, but intends to keep project operational

Salon

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1 No-Brainer Momentum Stock to Buy This Week

Prominent energy stock Marathon Petroleum (MPC) is currently trading above its 50-day and 200-day moving averages. Moreover, given the analysts’ bullish sentiments about the stock, it could be a solid pick this week. Keep reading.

StockNews.com

Saudi-Japanese Feasibility Study for Producing Clean Hydrogen for Local, Int’l Markets

Japan’s Marubeni Corp. has agreed to study clean hydrogen production in Saudi Arabia together with the Kingdom’s sovereign Public Investment Fund (PIF). Saudi Arabia, a leading oil-producing nation and a key player in the Organization of the Petroleum Exporting Countries, is looking to add other types of energy sources, including…

Asharq Al-Awsat

MPC vs. CEI: Which Energy Stock Has the Potential to Fuel Better Returns?

The energy sector is well-positioned to witness considerable growth in the foreseeable future, driven by strong global energy demand amid recovering emerging markets such as China and constrained supplies. Energy producers and distributors Marathon Petroleum (MPC) and Camber Energy (CEI) should benefit from the tailwinds. But which of these stocks…

StockNews.com

Egypt Hikes Gasoline Prices in Quarterly Review

Egypt raised domestic gasoline prices on Thursday in line with a commitment under a financial support package with the International Monetary Fund, while keeping the diesel price unchanged, the petroleum ministry said in a statement. The country's fuel pricing committee set the prices in a quarterly review, raising the price…

Asharq Al-Awsat

Biden faces dilemma in fight over large Alaska oil project

The Biden administration is weighing approval of a major oil project on Alaska’s petroleum-rich North Slope that supporters say represents an economic lifeline for Indigenous communities but environmentalists say runs counter to President Joe Biden’s climate goals

The Independent UK

4 Leading Energy Stocks to Buy in 2023 and Beyond

Regardless of the retreat in oil and gas from their peaks almost a year ago, resurgent global energy demand amid constrained supplies appears to be enduring tailwinds for U.S. energy producers. Hence, it could be wise to invest in fundamentally sound energy stocks, Marathon Petroleum (MPC), Berry Corporation (BRY), Unit…

StockNews.com

Will China’s latest investment in Afghanistan actually work?

While a deal to extract oil has raised hopes in the war-torn nation, experts warn of China’s sketchy record.

Al Jazeera

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Reuters

Abu Dhabi's IPIC and Aabar to pay Malaysia $1.8 billion to settle 1MDB dispute

Abu Dhabi's International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay $1.8 billion to settle a legal dispute over the scandal at Malaysian state fund 1MDB, Malaysia's finance ministry said on Monday.

Dynamite News

Moody's affirms stable ratings outlook for oil firms IOCL, BPCL, and HPCL

Moody's Investors Service has kept the outlooks on the ratings for three-oil refining and marketing companies -- Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Ltd. (HPCL) -- stable. Read further on Dynamite News:

StockNews.com

3 Energy Stocks to Buy for 2023 and Beyond

The energy sector remains buoyed on the backs of a tight supply due to geopolitical turmoil and rising demand due to China’s reopening. Therefore, investors could be wise to buy fundamentally strong energy stocks Marathon Petroleum (MPC), Valero Energy (VLO), and Unit Corporation (UNTC) as they look well-positioned for long-term…

Asharq Al-Awsat

Saudi Arabia Vows to Take Legal Action Against Unlicensed Energy Use

As Saudi Arabia continues to push for energy efficiency, rationalization of consumption, and adherence to sustainability standards, the Saudi Ministry of Energy vowed to hold accountable those who waste oil products, or transfer them to various facilities for the purpose of generating electric power without obtaining the necessary licenses. In…

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Asharq Al-Awsat

IOGP Looks Forward to Working with OPEC to Ensure Global Energy Security

For three years now, energy security has been the most prevalent issue for the global economy. The world blames the high prices of oil and gas and accuses the sector of causing record-high inflation rates. Curbing high inflation requires increasing interest rates, which drags the global economy toward recession. Governments…

The Guardian - US

A rough patch: the Astros’ new sponsorship deal with Oxy is doubly ugly

Houston are the latest MLB team to secure a uniform advertising deal as their players become walking billboards for Occidental Petroleum

Bangkok Post

PTTEP, Malaysian partners establish JV

PTT Exploration and Production Plc (PTTEP) continues to increase its oil and gas production through the exploration of a new source of petroleum in Malaysia in cooperation with two Malaysian firms.

StockNews.com

3 Energy Stocks to Energize Your Portfolio

Resurgent global energy demand amid constrained supplies has created tailwinds for U.S. energy producers. Hence, it could be wise to invest in fundamentally strong energy stocks, Valero Energy (VLO), Marathon Petroleum (MPC), and Unit Corporation (UNTC), to make hay while the sun shines. Read on….

Bangkok Post

PTTEP expands footprint in Malaysia

PTT Exploration and Production Plc (PTTEP) continues to expand its reach as it seeks new sources of petroleum in Malaysia in cooperation with two Malaysian firms.

The Times of India

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Capital & Main

California Oil Industry Uses High Gasoline Prices to Roll Back Climate Agenda, Critics Allege

After industry lobbyists halted the oil and gas well safe-distance law, their well-funded referendum could sway voters with misinformation.

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