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The Latest Breaking News from Petroleum

Crude Oil: Does OPEC Have a Problem?

OPEC’s biannual meeting in late November establishes the cartel’s production policy for the coming year. The cartel scheduled the late 2023 meeting for Sunday, November 26, but the oil ministers could not agree on output quotas during preliminary meetings, causing a delay in the meeting until the end of November.

Barchart · Dec 4, 2023

The head of the Middle East's largest private oil producer says we'll need '100 times more' renewable energy to meet demand

“You need to add a new Saudi Arabia every two years just to meet the current demand," Crescent Petroleum CEO Majid Jafar said at Fortune's Global Forum in Abu Dhabi.

Fortune · Nov 28, 2023

Recurring robberies: fuel dealers in Kozhikode plan to cut short late-night working hours

Fuel pump owners in Kozhikode plan to cut late-night working hours due to poor police intervention to curb robberies. The All Kerala Federation of Petroleum Traders is concerned about staff safety and will decide on the issue at its State convention. They demand special legislation to protect petrol pump staff…

The Hindu · Nov 24, 2023

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Maccas opens in Phillip: there'll be no burger battle but there might be a petrol price war

McDonald's has opened in Phillip and Brodburger is not worried.

The Canberra Times · Nov 17, 2023

‘We have given Earth a fever’: author John Vaillant on the firestorms coming for us all

His book about a blaze so hot it vaporised concrete and turned a Canadian city to ash has just won the Baillie Gifford prize. John Vaillant explains why the world we think we live in no longer exists

The Guardian - UK · Nov 17, 2023

1 Energy Stock BlackRock and Buffett Are Both Betting On

None other than BlackRock is investing big in this new carbon capture technology. Here's why this top Warren Buffett oil stock might be the best way to play it.

Barchart · Nov 14, 2023

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 · Nov 14, 2023

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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 · Nov 9, 2023

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 · Nov 8, 2023

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 · Nov 8, 2023

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 · Nov 7, 2023

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 · Nov 7, 2023

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 · Nov 6, 2023

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 · Nov 4, 2023

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StockNews.com · Nov 2, 2023

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….

The Hindu · Nov 2, 2023

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,…

StockNews.com · Oct 27, 2023

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….

Newslaundry · Oct 20, 2023

‘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.

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Zenger · Oct 20, 2023

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.

StockNews.com · Oct 20, 2023

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….

The Hindu · Oct 12, 2023

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 · Oct 9, 2023

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 · Oct 4, 2023

‘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 · Oct 4, 2023

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.

The Hindu · Oct 3, 2023

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

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