The Latest Breaking News from Petroleum

Rayong residents seek B5bn for spill damage

Hundreds of residents and small business owners in Rayong have filed lawsuits for damages worth 5 billion baht against Star Petroleum Refining (SPRC), PTT Global Chemical (PTTGC) and government agencies over an oil spill last year.

Bangkok Post · Jan 24, 2023

Bay Area Plans to Refine Biofuels Could Derail Climate Goals, Warn Environmentalists

Oil companies may end up relying on environmentally questionable crop-based fuels.

Capital & Main · Jan 23, 2023

Egypt Signs $1.5 Bln Financing Agreement with ITFC

Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation (ITFC). The deal aims to fund Egypt's trade needs, including for importing energy products and essential commodities, CNBC Arabia wrote on Twitter, citing the ITFC’s chief executive officer. Last year Egypt signed a similar agreement,…

Asharq Al-Awsat · Jan 23, 2023

Marathon, Valero and 1 Other Energy Stock to Purchase in 2023

With the sustained energy demand and an anticipated surge in oil prices, energy stocks will likely outperform the broader market again this year. Therefore, it seems wise to invest in fundamentally strong energy stocks Marathon Petroleum (MPC), Valero Energy (VLO), and Adams Resources & Energy (AE) to garner solid returns.…

StockNews.com · Jan 18, 2023

Gulf gas talks could restart in months

A date for talks between Thailand and Cambodia to explore a new petroleum source in the Gulf of Thailand's overlapping claim area (OCA) should emerge in two months, says the Department of Mineral Fuels.

Bangkok Post · Jan 17, 2023

PTTEP exits Brazil with new focus on Asia

PTT Exploration and Production Plc (PTTEP) has exited its petroleum exploration and production business in Brazil by dissolving its subsidiary Participations and Explorations Corporation (PEC), as the company aims to focus more on investments in Asia.

Bangkok Post · Jan 16, 2023

The Top 3 Oil and Gas Stocks to Buy in 2023

A tight supply and China’s recovering demand are expected to keep oil prices high in the foreseeable future. Given this backdrop, fundamentally strong energy stocks Marathon Petroleum (MPC), Berry Corporation (BRY), and Unit Corporation (UNTC) might be solid buys in 2023. Read on….

StockNews.com · Jan 13, 2023

U.S. House passes bill banning exports of reserve oil to China

The U.S. House of Representatives overwhelmingly passed a bill on Thursday to ban releases of oil from the U.S. Strategic Petroleum Reserve from being exported to China, though the measure faces an uncertain future in the Senate.

Reuters · Jan 12, 2023

Egypt to Benefit from Mining in the Golden Triangle

Egyptian Minister of Petroleum Tarek El-Molla has said that the development of the Golden Triangle region requires the participation of all sectors to attract foreign and domestic investments. The Golden Triangle project is one of the major mining projects intended to be established between Qena, Safaga, and al-Qusayr.

Asharq Al-Awsat · Jan 10, 2023

Call for Cambodian gas talks

Momentum is growing for the resumption of long-delayed talks between Thailand and Cambodia on joint petroleum exploration in the Gulf of Thailand, after the two countries showed interest in pushing ahead with the project.

Bangkok Post · Jan 5, 2023