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The Latest Breaking News from Petroleum

Total methane emissions have declined since 1991, but methane emissions from livestock are up

The Inflation Reduction Act aims to reduce emissions from agriculture and natural gas systems , the top two sources of methane emissions

USAFacts

Scott Morrison accused of ‘bias’ in blocking Pep-11 gas permit using extraordinary ministerial powers

PM alleged to have ‘predetermined’ application after project was blocked despite recommendation to the contrary by national petroleum administrator

The Guardian - AU

SPRC details oil spill payouts in Rayong

Star Petroleum Refining Plc (SPRC) has reportedly paid about 90% of due compensation, worth 299 million baht, for two crude oil leaks in Rayong at the start of the year.

Bangkok Post

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Occidental Petroleum Whale Trades For August 10

Someone with a lot of money to spend has taken a bullish stance on Occidental Petroleum (NYSE:OXY). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga

SPRC faces B39m suit over oil spill

RAYONG: Restaurant and hotel entrepreneurs at Mae Ramphueng beach and Koh Samet yesterday filed a lawsuit against Star Petroleum Refining Public Co Ltd (SPRC) to demand 38.8 million baht in compensation for recent oil spills that have harmed the area.

Bangkok Post

Oil industry associations worried over CPCL being told to restrict production

The 10.5 million tonne refinery is crucial to maintaining petrol, diesel and liquefied petroleum gas (LPG) supplies in Tamil Nadu

The Hindu

Over $390 Million Bet On Occidental Petroleum? 4 Stocks Insiders Are Buying

Although US stocks closed mixed on Monday, there were a few notable insider trades.

Benzinga

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Apache Seeks to Pump New Investments in Egypt

US corporation Apache is scheduled to pump more investments in its concession areas in the Western Desert, announced Egypt's Petroleum and Mineral Resources Ministry. The move aims to improve the productivity of aging wells, intensify research and exploration activities and make new discoveries in light of the significant results of…

Asharq Al-Awsat

4 Energy Stocks You Shouldn’t Ditch Just Yet

Oil prices have declined significantly from their highs earlier this year. However, with supply expected to remain short of demand in the near term, analysts expect Brent crude to average above the $100 mark. Hence, we think it might not be wise to exit fundamentally strong energy stocks Valero Energy…

StockNews.com

Parliamentary proceedings | Profit of oil companies increased manifold: Centre tells Rajya Sabha

LPG price increased only by 41.5% while Saudi Contract Price had increased by 207% from 2020 to 2022: Minister

The Hindu

CPCL asked to cut down production as odour persists in north Chennai

The Chennai Petroleum Corporation Ltd. has been asked by the Tamil Nadu Pollution Control Board to cut its output to 75% of its capacity

The Hindu

PTTEP to bid for new licences in the Gulf

PTT Exploration and Production Plc (PTTEP) is preparing to join a new auction for petroleum exploration and production licences in the Gulf of Thailand, part of the government's efforts to increase the domestic gas supply.

Bangkok Post

Are These Two Stocks Worth Buying After Oil Prices

Oil prices dropped on the news of growing U.S. stockpiles and OPEC raising supply. However, a ban on Russian oil amid robust demand might cause oil prices to hit significant highs soon. So, should you invest in energy stocks Occidental Petroleum (OXY) and Devon Energy (DVN) now? Read on to…

StockNews.com

Egypt Seeks to Strengthen Position as Sustainable Energy Hub

Egypt is seeking to become a regional hub for renewable energy, as part of its 2030 sustainable development strategy, especially in the field of green hydrogen. In April, Prime Minister Mostafa Madbouly said Cairo is accelerating steps to adopt proposals aimed at attracting more foreign investments in the field of…

Asharq Al-Awsat

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Dynamite News

Ranjit Rath takes over as CMD of Oil India Limited

Rath took charge as CMD of the Navratna PSU under the Ministry of Petroleum & Natural Gas, Government of India, on 2nd August. Full story on Dynamite News:

Benzinga

Looking At Occidental Petroleum's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Occidental Petroleum (NYSE:OXY). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga

What Are Whales Doing With Marathon Petroleum

A whale with a lot of money to spend has taken a noticeably bullish stance on Marathon Petroleum. Looking at options history for Marathon Petroleum (NYSE:MPC) we detected 18 strange trades.

Asharq Al-Awsat

Scientists Create Aircraft Fuel from Soil Bacteria

Aircrafts transport people, ship goods, and perform military operations, but the petroleum-based fuels that power them are in short supply. In research published on June 30 in the journal Joule, researchers at the Lawrence Berkeley Lab have found a way to generate an alternative jet fuel by harvesting an unusual…

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Reuters

U.S. targets Chinese, UAE firms in new Iran oil sanctions

The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme.

Benzinga

Check Out What Whales Are Doing With MPC

A whale with a lot of money to spend has taken a noticeably bullish stance on Marathon Petroleum. Looking at options history for Marathon Petroleum (NYSE:MPC) we detected 10 strange trades.

Al Jazeera

Issuing fresh sanctions on Iran, US targets Chinese, UAE firms

The firms were being used by Iran to facilitate the sale of Iranian oil and petrochemical products, the US said.

The Independent UK

US sanctions UAE, Hong Kong firms that ship Iranian oil

The U.S. has sanctioned a United Arab Emirates-based firm and several Asian companies for facilitating the illicit sale of millions of dollars’ worth of Iranian oil for shipment to East Asia

Asharq Al-Awsat

US Targets Chinese Firms in New Iran Oil Sanctions

StockNews.com

3 Stocks Trading Near 52-Week Highs Right Now

Amid a seesawing economy and a highly volatile market backdrop, fundamentally sound stocks Occidental Petroleum Corp. (OXY), Molina Healthcare (MOH), and Greif (GEF) are currently trading near their 52-week highs. Given the solid fundamentals and momentum, these stocks could be ideal additions to one’s watchlist. Let’s discuss….

Asharq Al-Awsat

Kuwait’s Al-Ghais Takes Role as OPEC Secretary General

Kuwait’s Haitham Al-Ghais assumed on Monday his new role as Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), following the late outgoing chief, Mohammad Barkindo. Al-Ghais affirmed his determination to work for the advancement of the international organization, especially considering the concerns surrounding the global energy market. In an…

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