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The Latest Breaking News from Petroleum

Petrol pumps to remain shut in Kerala on September 23

THIRUVANANTHAPURAM

The Hindu

BCP to ramp up investments in Norway

Energy conglomerate Bangchak Corporation Plc (BCP) is gearing up for new investments in Norway through expansion of oil and gas exploration and production, in order to strengthen its position in the upstream petroleum business.

Bangkok Post

India plans $2.5 billion aid to oil firms hit by soaring costs

NEW DELHI: India plans to pay about Rs 20,000 crore ($2.5 billion) to the state-run fuel retailers, such as Indian Oil Corp, to partly compensate them for losses and keep a check on cooking gas prices, according to people familiar with the matter.

The Times of India

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The G7's price cap on Russian oil begins to take shape

The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow's ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost oil prices in coming months.

Reuters

Saudi Arabia Tops Hydrocarbon Producers in Oil, Gas Emissions

Saudi Arabia has been able to score higher than other hydrocarbon producers in many indicators related to the emissions performance of the oil and gas sector. Over the past year, the six Gulf Cooperation Council (GCC) countries have updated their medium-term greenhouse gas emissions targets by submitting revised nationally determined…

Asharq Al-Awsat

After oil: what Malaysia and Iran may look like in a post-fossil-fuel future

As the devastation of climate change makes the need to decarbonise clearer by the day, countries face the question of what to do with their old fossil fuel infrastructure. While some environmental activists have taken to sabotaging the carbon economy on the back of its emissions in the Global North,…

The Conversation

3 Oil Stocks That Are Better Buys Than Occidental Petroleum

Russia is threatening to cut energy supplies to Europe, which could keep oil prices elevated this year. While rising oil prices should help the energy industry thrive, Occidental Petroleum (OXY) is not well-positioned to capitalize on the industry tailwinds. However, one could benefit from the industry’s solid prospects by investing…

StockNews.com

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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

Sisi Hails Gulf Support for Egypt

Egyptian President Abdel Fattah el-Sisi praised the Gulf support for his country, especially during the periods that followed the upheavals in January 2011 and June 2013. Sisi’s comment came during the inauguration of projects in the Suez Canal Authority on Thursday. In his speech, the Egyptian president said that Saudi…

Asharq Al-Awsat

$Wales set for massive row with Westminster as Liz Truss plans to lift the ban on fracking$

Wales set for massive row with Westminster as Liz Truss plans to lift the ban on fracking

Mark Drakeford said fracking plans are a 'contradiction of the climate crisis'

Wales Online

Saudi Energy Minister: OPEC+ Does Not Target Specific Price Range

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that OPEC+ did not target specific prices or price ranges, but rather sought to support market stability and balance supply and demand for the benefit of the petroleum industry. Prince Abdulaziz, who chairs the ministerial committee in the OPEC+ alliance, told an…

Asharq Al-Awsat

Looking At Occidental Petroleum's Recent Whale Trades

Benzinga

Arunachal Pradesh oil exploration | Fair compensation will be given, says Petroleum Ministry

Chakma Development Foundation of India had approached NHRC

The Hindu

G7 agree price cap on Russian oil to stop Putin’s ‘ability to fund war of aggression’

The cap is expected to be introduced in December for crude oil and for petroleum products in February

Evening Standard

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Axios

G7 countries back plan to cap price of Russian oil over Ukraine invasion

It's aimed at limiting the invasion's effect on energy prices and preventing Russian profits from oil exports.

The Independent UK

G7 agrees price cap on Russian oil to rein in runaway energy costs

Finance ministers of the G7 group of leading democracies have agreed a global price cap on Russian oil and petroleum products.

Benzinga

What Are Whales Doing With Marathon Petroleum

Someone with a lot of money to spend has taken a bearish stance on Marathon Petroleum (NYSE:MPC). 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.

The Hindu

Commercial LPG price reduced by ₹91.5 a cylinder

Simultaneously, the rates of aviation turbine fuel were cut marginally by 0.7%.

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Benzinga

Check Out What Whales Are Doing With OXY

A whale with a lot of money to spend has taken a noticeably bearish stance on Occidental Petroleum. Looking at options history for Occidental Petroleum (NYSE:OXY) we detected 11 strange trades.

StockNews.com

Is Devon Oil a Better Energy Play Than Marathon Petroleum?

Elevated oil & gas prices have been helping energy companies thrive, with oil producers' free cash from operations increased significantly this year. Therefore, Marathon Petroleum (MPC) and Devon Energy (DVN) beat the market volatility. But which of these stocks is a better choice for investors? Read more to find out….

Birmingham Post

North Sea gas platform could become designated nesting site to aid offshore wind development

Orsted is working with owners Alpha Petroleum Resources Ltd and Energean UK on Wenlock proposal 100km off the Humber

The Guardian - UK

US fossil fuel firm sues insurer for refusing to cover climate lawsuit

Aloha Petroleum’s case against AIG could set precedent as to whether firms are protected against climate damage claims

Asharq Al-Awsat

KAPSARC Warns of Challenges Hindering Investments in Oil, Gas

Industry investment should increase during the next two years, otherwise, the world risks a significant deficit of oil and gas supply by 2025 and beyond, found a report by the King Abdullah Petroleum Studies and Research Center (KAPSARC). It also warned of a high probability of the price of oil…

Bangkok Post

5 injured in explosion at LPG filling plant

SAMUT PRAKAN: Five workers were injured, three seriously, by an explosion and fire at a liquefied petroleum gas (LPG) filling plant in Bang Sao Thong district early on Tuesday.

AAP

Woodside profit quadruples amid gas crisis

Australia's largest oil and gas company Woodside Energy has quadrupled profits on soaring prices amid a global energy crisis, boosted by assets bought from BHP.

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