The Latest Breaking News from Petroleum

In Venezuela's oil capital of Maracaibo, a drilling frenzy has led to dozens of new wells -- but the valuable liquid being pumped out is just water, not petroleum.

On CNBC's “Mad Money Lightning Round,” Jim Cramer said he likes Marathon Petroleum Corporation (NYSE:MPC) “very, very much,” adding that it is one of the few stocks in that group that he actually wants to own.

Occidental Petroleum Corp (NYSE:OXY) shares are trading lower as oil prices fall Tuesday amid Iran-Israel ceasefire efforts.

Turkey is stepping up its influence in west Africa as the geopolitical and economic landscape in the region shifts. In Senegal, the state-owned Turkish Petroleum Corporation has entered a key partnership in the oil and gas sector. Meanwhile, Karpowership, a company providing electricity via floating power plants, now supplies energy…

About 20 million barrels of oil a day flow through the Strait of Hormuz, or the equivalent of 20% of global petroleum liquids consumption.

Occidental Petroleum Corp (NYSE:OXY), Exxon Mobil Corp (NYSE:XOM) and Chevron Corp (NYSE:CVX) climbed 1.95%, 1.53% and 1.31% during Monday pre-market trading session after oil prices have skyrocketed to their highest point since January, sparking concerns about potential supply disruptions.

Texas lawmakers passed a suite of bills that officials said are crucial to combat losses in the state’s largest oil field.

With Warren Buffett’s Berkshire Hathaway holding over 28% of its shares and company insiders also buying in, Occidental Petroleum is a cheap energy stock with strong fundamentals.

A federal appeals court panel has refused to vacate the approval of the massive Willow oil project on Alaska’s petroleum-rich North Slope

The UK government will soon face a momentous decision over whether to approve production in the Rosebank oilfield off the coast of Shetland.

As the United States draws oil inventory by the largest amount since December 2024, there could be bottlenecks sending oil prices higher.