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The Latest Breaking News from Petroleum

It's the economics of energy production that make petrostates more trigger-happy, Emma Ashford argues in Oil, the State, and War.

Reason

Nigeria is producing less and less oil. Here's why

Nigeria’s oil output was at the lowest since 1990 as its crude oil production fell below 1 million barrels per day (bpd) in August 2022. And data from the Organisation of the Petroleum Exporting Countries in early September showed that Angola and Libya have overtaken Nigeria as Africa’s highest crude…

The Conversation

Surging sales of large gasoline pickups and SUVs are undermining carbon reductions from electric cars

Replacing petroleum fuels with electricity is crucial for curbing climate change because it cuts carbon dioxide emissions from transportation – the largest source of U.S. global warming emissions and a growing source worldwide. Even including the impacts of generating electricity to run them, electric vehicles provide clear environmental benefits.

The Conversation

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Marathon Petroleum Whale Trades Spotted

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.

Benzinga

Air India, AirAsia India and Vistara sign MoU with CSIR-IIP for sustainable aviation fuel development

MUMBAI: Tata group-owned airlines Air India, AirAsia India and Vistara (Tata SIA Airlines) have signed a Memorandum of Understanding with the Council of Scientific and Industrial Research – Indian Institute of Petroleum to collaborate and work together on the research, development and deployment of sustainable aviation fuels (SAFs).

The Times of India

Prima Marine earmarks B4.37bn to buy new vessels

SET-listed Prima Marine, an operator of marine transport and storage of crude oil and petroleum products, plans to allocate 4.37 billion baht to purchase new marine vessels this year to grow its business.

Bangkok Post

Petroleum dealers in Kerala call off September 23 protest plan

Thiruvananthapuram

The Hindu

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Egypt to Link Oil Refining System into Unified Digitally Managed Network

Egypt’s oil refining system is being linked into a unified network through the Egyptian General Petroleum Corporation (EGPC) that will be managed online, Petroleum Minister Tarek el-Molla has announced. Molla explained that the development of the refining system and the petrochemical industry began in 2016 through the overall vision of…

Asharq Al-Awsat

OCA talks with Cambodia set to resume

Talks on the overlapping claim area (OCA) between Thailand and Cambodia to jointly benefit from the petroleum business there are expected to resume, part of efforts to decrease dependence on expensive liquefied natural gas (LNG) imports, said deputy Prime Minister Supattanapong Punmeechaow.

Bangkok Post

There's a Better Pick Over Exxon Mobil in the Energy Sector

While higher price realizations and significant market demand should bode well for energy companies, including Exxon Mobil (XOM) and Marathon Petroleum (MPC), we think MPC is better positioned to capitalize on the industry tailwinds given its solid fundamentals and growth attributes. Read on to learn more….

StockNews.com

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 16 strange trades.

Benzinga

Egypt Underlines Growth in Activities, Economic Returns of Public Sector Oil Companies

Egypt's Minister of Petroleum and Mineral Resources Tarek el-Molla chaired on Sunday the meetings of the general assemblies of public sector oil companies, via video conference, to discuss and approve the results of FY 2021/22. He affirmed that the public sector oil companies have developed remarkably in recent years, citing…

Asharq Al-Awsat

Kuwait Oil Company Says to Increase Natural Gas Production

The state-owned Kuwait oil company aims to increase natural gas production to meet local demand, the company's acting chief executive officer Khaled Nayef Al Otaibi said on Sunday. "With the world recovering from the disruptions caused by COVID-19 pandemic, demand for oil and gas returned to its pre-pandemic levels in…

Asharq Al-Awsat

Data | Will Iran make a comeback as India’s major crude oil import partner?

With international crude oil prices soaring, local consumption of petroleum products back to pre-pandemic levels and the U.S. calling for sanctions against Russia, Iran may make a comeback as a major oil partner for India

The Hindu

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Asharq Al-Awsat

Saudi Arabia Launches Joint Research Center to Advance AI Field

The Saudi Data and AI Authority (SDAIA), in cooperation with King Fahd University of Petroleum and Minerals, has inaugurated a joint research center, during the 2nd Global AI Summit that was held in Riyadh between September 13 and 15. “The university (King Fahd University of Petroleum and Minerals) is proud…

Benzinga

Marathon Petroleum Whale Trades For September 15

Benzinga

Check Out What Whales Are Doing With OXY

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.

The Hindu

Petrol pumps to remain shut in Kerala on September 23

THIRUVANANTHAPURAM

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Bangkok Post

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.

The Times of India

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.

Reuters

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.

Asharq Al-Awsat

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…

The Conversation

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,…

StockNews.com

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…

Benzinga

Looking At Occidental Petroleum's Recent Whale Trades

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