The Latest Breaking News from Petroleum

NEW DELHI: The government on Tuesday evening cut the windfall tax on diesel and ATF in line with softening international petroleum product prices but raised the duty on domestically produced crude oil.

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.

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

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 program. The US Treasury and the US…

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….

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…

The two largest US oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue in Q2 2022 on Friday. With crude surging above $100 a barrel shortly after the Russian invasion on Ukraine, and refining margins climbing due to tight plant capacity, ExxonMobil reported $17.9 billion in profits and…

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.

Egyptian Petroleum Minister Tarek El Molla and Environment Minister Yasmine Fouad met on Tuesday to discuss preparations for the COP27 Climate Summit, which will be held in the Red Sea resort of Sharm El-Sheikh in November. They discussed organizing a number of events related to environmental sustainability, carbon reduction, capture…