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The Latest Breaking News from Petroleum

Nigeria disturbed by acute fuel shortfalls

Motorists queuing for several hours at petrol pumps in the Nigerian capital, Abuja, has become the new normal after an acute scarcity in fuel earlier this year. In February, the government announced that bad fuel containing a high level of methanol was imported into the country by oil marketeers and…

Radio France Internationale

$100 Invested In This Stock 20 Years Ago Would Be Worth $500 Today

Occidental Petroleum (NYSE:OXY) has outperformed the market over the past 20 years by 1.02% on an annualized basis producing an average annual return of 8.24%. Currently, Occidental Petroleum has a market capitalization of $65.81 billion.

Benzinga

Nigeria Approves Proposal for Gas Pipeline Project to Morocco

The Nigerian government on Wednesday approved a proposal for the construction of a gas pipeline connecting Nigeria and Morocco. Nigeria's Federal Executive Council at a weekly meeting approved a proposal presented by the ministry of petroleum resources and directed the state-run Nigerian National Petroleum Corporation (NNPC) to execute a Memorandum…

Asharq Al-Awsat

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Four firms eye petroleum licence auction

Four companies -- two of which are Thai -- are interested in participating in an auction for new petroleum exploration and production licences in the Gulf of Thailand, part of the state's efforts to increase domestic gas supply, says the Department of Mineral Fuels (DMF).

Bangkok Post

Exports up 15.46% to $37.3 billion in May; trade deficit widens to $23.33 billion

NEW DELHI: India's merchandise exports rose by 15.46 per cent to $37.29 billion in May on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as the trade deficit widened to $23.33 billion during the month, the commerce ministry said on Thursday.

The Times of India

Fuel retailers talking of under-recoveries on petrol, diesel: Hardeep Puri

NEW DELHI: With fuel prices remaining unchanged for almost two months despite a rise in cost, oil companies have started detailing under-recoveries or losses, which are as high as Rs 17.1 per litre on petrol and Rs 20.4 on diesel.

The Times of India

OPEC+ Brings Forward Oil Output Rises

OPEC+, an alliance of the Organization of the Petroleum Exporting Countries and other producing nations, agreed on Thursday to bring forward oil production rises to offset Russian output losses to ease surging oil prices and inflation. OPEC+ said it had agreed to boost output by 648,000 barrels per day (bpd)…

Asharq Al-Awsat

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WP keeps revenue growth target at 5%

SET-listed WP Energy, Thailand's third-largest liquefied petroleum gas (LPG) trader, is maintaining its 2022 revenue growth target at 5% as the government continues to gradually reduce its LPG price subsidy.

Bangkok Post

SGP reports rapidly rising sales of LPG

SET-listed Siam Gas and Petrochemical (SGP), Thailand's second-largest liquefied petroleum gas (LPG) trader by volume, expects its 2022 sales to increase towards pre-pandemic levels, partly due to pre-orders and the improving Covid-19 situation.

Bangkok Post

LPG Price: Commercial cooking gas cylinder price cut by Rs 135 from June 1

The price for a commercial LPG cylinder has been reduced by Rs 135 with immediate effect from today. With the latest reduction, a 19-kg commercial Liquefied petroleum gas (LPG) cylinder in Delhi will now cost Rs 2219. Read more on Dynamite News:

Dynamite News

Petrol dealers stage protest, 225 pumps in Nashik district run dry

NASHIK: Over 200 petrol dealers from Nashik, Dhule and Nandurbar districts staged a sit-in protest in front of the Bharat Petroleum Corporation Ltd (BPCL) fuel depot, at Panewadi, near Manmad in Nashik district, on Tuesday. This was a part of their ‘no fuel purchase’ strike seeking compensation for the losses…

The Times of India

This Is What Whales Are Betting On Occidental Petroleum

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

12 Analysts Have This to Say About Occidental Petroleum

Analysts have provided the following ratings for Occidental Petroleum (NYSE:OXY) within the last quarter:

Benzinga

Andhra Pradesh: Petroleum dealers stop purchasing fuel

VIZIANAGARAM

The Hindu

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The Times of India

Sales curtailing new mantra for oil cos to cut losses: Dealers

NAGPUR: Amid high fuel costs pinching consumers, petroleum dealers have complained of oil marketing companies resorting to unofficial rationing in supply of diesel. Some private companies had stopped supply of diesel at their outlets for around couple of months, only to restart it on Monday.

Asharq Al-Awsat

Iraq Proposes Clean Energy Investments to BP, Total

Iraq’s Oil Minister Ihsan Abdul Jabbar held talks in London and Paris with the chief executive officers of the British Petroleum company and France’s Total and officials from the French ministries of economy and energy. He proposed new plans to invest in the oil, gas and clean energy sectors, a…

The Guardian - UK

The big picture: the pursuit of happiness in Playland, California

Between work as a petroleum engineer and a clinical psychologist, photographer Chauncey Hare documented suburban life in the US

The Hindu

Petrol pump dealers in TS not to lift stocks on May 31

‘No Purchase’ protest in support of higher commission, voicing concern at losses when Excise duty is cut

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The Times of India

Fuel dealers to go on strike in Karnataka on May 31

BENGALURU: Petroleum dealers across Karnataka have decided to observe a 'no-purchase' day on May 31 demanding compensation from the Union government for losses incurred by them due to the reduction in excise duty. Though dealers said fuel outlets will function as usual, the probability of 'no stock' boards going up…

The Times of India

Maharashtra: Dealers to not buy, sell fuel on May 31

AURANGABAD: The Federation of All Maharashtra Petroleum Dealers’ Association (FAMPEDA) has decided to opt for ‘No Purchase No Sale' of fuel on Tuesday (May 31).

The Times of India

Govt has no plan for additional borrowing to manage fiscal deficit: Report

NEW DELHI: The government is not planning any additional borrowing and will stick to the borrowing target fixed for the current fiscal year despite sacrificing revenue on account of reduction in duties on petroleum products and other goods, official sources said on Wednesday.

Benzinga

If You Invested $1000 In Marathon Petroleum 10 Years Ago, Here's How Much You Would Have Today

Marathon Petroleum (NYSE:MPC) has outperformed the market over the past 10 years by 6.57% on an annualized basis producing an average annual return of 17.98%. Currently, Marathon Petroleum has a market capitalization of $52.71 billion.

Benzinga

Marine Petroleum Trust's Ex-Dividend Date Is Friday, Here's What You Need To Know

Thursday marks the last chance for investors to receive the next dividend payout from Marine Petroleum Trust (NASDAQ:MARPS).

The Hindu

India to be the leader of green hydrogen: Puri in Davos

India is moving faster than any other country towards a green transition, Petroleum Minister says at Davos

Benzinga

Piper Sandler Maintains Neutral Rating for Marathon Petroleum: Here's What You Need To Know

Piper Sandler has decided to maintain its Neutral rating of Marathon Petroleum (NYSE:MPC) and raise its price target from $96.00 to $106.00. Shares of Marathon Petroleum are trading up 2.15% over the last 24 hours, at $98.64 per share.

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