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The Latest Breaking News from Petroleum

Explained: Govt can garner Rs 1 lakh crore from duties, cess on petroleum products

NEW DELHI: The government could garner over Rs 1 lakh crore if it continues to levy cess/duty on production of petroleum crude, and on export of petrol, diesel, and ATF for the rest of fiscal 2023.

The Times of India

Warren Buffett Just Picked up This Buy-Rated Energy Stock

Leading oil and gas company Occidental Petroleum (OXY) reported impressive first-quarter results. Shares of OXY have gained in double digits so far this year, outperforming the broader market, thanks to surging energy prices. Moreover, Warren Buffett has recently added more OXY shares to his portfolio. And this stock is rated…

StockNews.com

OPEC+ to Maintain Slight Output Hike in August

OPEC+ agreed on Thursday to stick to a planned oil output hike this summer but avoided discussing policy from September onwards as prices have risen on tight supplies and worries that the group has little ability to pump more. The group, which comprises the Organization of the Petroleum Exporting Countries…

Asharq Al-Awsat

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Here's How Much $100 Invested In Marathon Petroleum 10 Years Ago Would Be Worth Today

Marathon Petroleum (NYSE:MPC) has outperformed the market over the past 10 years by 3.44% on an annualized basis producing an average annual return of 14.14%. Currently, Marathon Petroleum has a market capitalization of $44.84 billion.

Benzinga

Why Indonesia Energy, Houston American Energy And Imperial Petroleum Shares Are Falling Today

Indonesia Energy Corp Ltd (NASDAQ: INDO), Houston American Energy Corporation (NASDAQ: HUSA) and Imperial Petroleum Inc (NASDAQ:

Benzinga

Buffett Just Stocked up on These 3 Buy-Rated Stocks

Warren Buffett has been one of the most influential investors of all time. His careful methodology in picking stocks has made him a consistently successful investor. So, we think Warren Buffett stocks Occidental Petroleum (OXY), Celanese (CE), and McKesson (MCK), which are also rated Strong Buy or Buy in our…

StockNews.com

$44 Million Bet On Occidental Petroleum? 3 Stocks Insiders are Buying

Although US stocks closed slightly lower on Monday, there were a few notable insider trades.

Benzinga

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Berkshire Hathaway Raises Stake In Occidental Petroleum, Find Out How Much

Warren Buffet’s Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) has purchased another 794,389 shares of Occidental Petroleum Corp (NYSE:OXY), at an average price of ~$55.39, according to a Form-4 filing with the U.S. Securities and Exchange Commission. The total purchase amount was ~$44 million for ~794 thousand shares of OXY. Last week the company…

Benzinga

US Apex to Ramp Up Oil Production in Egypt’s Western Desert

Apex Chairman of the Board of Directors Roger Plank held talks on Monday with Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla. Plank said his company is currently studying the expansion of its activities in Egypt’s Western Desert by acquiring several already producing concession areas and intensifying drilling…

Asharq Al-Awsat

Sri Lanka Hikes Fuel Prices as US Delegation Arrives

Sri Lanka hiked fuel prices on Sunday, creating further pain for ordinary people as officials from the United States arrived for talks aimed at alleviating the island's dire economic crisis. Ceylon Petroleum Corporation (CPC) said it raised the price of diesel, used widely in public transport, by 15 percent to…

Asharq Al-Awsat

Short Volatility Alert: Oasis Petroleum Inc.

On Thursday, shares of Oasis Petroleum Inc. (NASDAQ: OAS) experienced volatile short activity. After the activity, the stock price went down -2.84% to $128.82. The overall sentiment for OAS has been Neutral.

Benzinga

Phillips 66 Under California Watchdog Scrutiny: Reuters

California regulators allege Phillips 66 (NYSE:PSX) improperly began processing renewable diesel in a unit at its Rodeo, California refinery, reported Reuters. In early June, the Bay Area Air Quality Management District (BAAQMD) issued a notice of violation, alleging that the refinery began producing renewable diesel without first amending the existing air permit, which…

Benzinga

Refineries hit back at tax

A proposal to temporarily charge a tax on the oil refinery margin appears to be a last-ditch effort by the government to control soaring energy prices, but major refineries question the move aimed at trimming some of their profits.

Bangkok Post

Protest against price rise, unemployment, corruption

People, under the aegis of SUCI(C), take out a protest march in Dharwad

The Hindu

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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 bullish stance on Occidental Petroleum. Looking at options history for Occidental Petroleum (NYSE:OXY) we detected 16 strange trades.

Benzinga

Why Occidental Petroleum Stock Is Rising

Occidental Petroleum Corp (NYSE: OXY) shares are trading higher Thursday after Warren Buffett disclosed the purchase of approximately 9.55 million shares at an average price of $55.36.

Benzinga

Insiders Buy Over $540M Of 2 Stocks

Although the US stocks closed slightly lower on Wednesday, there were a few notable insider trades.

Benzinga

What's Going On With Chevron, Diamondback Energy And Occidental Petroleum Shares Today?

Chevron Corporation (NYSE: CVX), Diamondback Energy Inc (NASDAQ: FANG) and Occidental Petroleum Corporation (NYSE: OXY) are all trading

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Benzinga

What's Going On With Camber Energy, Indonesia Energy, Houston American Energy And Imperial Petroleum Shares Today?

Camber Energy Inc (NASDAQ: CEI), Indonesia Energy Corp Ltd (NASDAQ: INDO), Houston American Energy Corporation (NASDAQ: HUSA) and <

Benzinga

Expert Ratings for Occidental Petroleum

Over the past 3 months, 14 analysts have published their opinion on Occidental Petroleum (NYSE:OXY) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Asharq Al-Awsat

Egypt: US Chevron to Drill First Exploration Well in Eastern Mediterranean

Egypt’s state-owned gas company and United States-based Chevron Corp signed on Monday a preliminary agreement to explore sending natural gas from offshore Mediterranean fields to Egypt for processing and export, the petroleum ministry stated on Monday. The memorandum of understanding signed by Egyptian Natural Gas Holding Company (EGAS) and Chevron…

Bangkok Post

Refiners deny profit tally

The Petroleum Refining Industry Club, a unit of the Federation of Thai Industries, has insisted the current gross refinery margin (GRM) is reasonable, rebutting an accusation that oil companies are overcharging customers for refined oil.

ABC News

NT pastoralist takes Sweetpea Petroleum to Supreme Court over fracking exploration access agreement

Northern Territory laws allow gas companies to enter cattle stations to explore, even if the leaseholders oppose it. One cattle station is fighting that in the Supreme Court.

Asharq Al-Awsat

OPEC’s Barkindo: Common Objective with Non-OPEC Partners is Market Stability

The common objective of the Organization of the Petroleum Exporting Countries and its non-OPEC partners has always been to maintain oil market stability, not to raise prices or bring them down, OPEC Secretary-General Mohammad Barkindo said on Saturday. Asked whether bringing 9.7 million barrels a day back to the market…

Benzinga

Marathon Petroleum Whale Trades Spotted

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 56 strange trades.

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