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The Latest Breaking News from Petroleum

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…

Asharq Al-Awsat

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.

Bangkok Post

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

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.

ABC News

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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…

Asharq Al-Awsat

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.

Benzinga

Forget Southwestern Energy, Buy These 3 Oil & Gas Stocks Instead

Oil and gas prices have remained elevated over the past few months due to the tighter supply caused by the ban on Russian oil and surging demand. However, Southwestern Energy (SWN) hasn’t been able to capitalize on the high oil prices because of its fundamental weakness. However, Occidental Petroleum (OXY),…

StockNews.com

Near-dry-out situation continues in 15% of fuel outlets in State

The situation will take time to ease out due to the backlog in indents, says a dealers’ association office-bearer

The Hindu

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Indian Conglomerate Reliance Eyes Bankrupt Revlon: Reuters

Indian conglomerate company Reliance Industries is mulling acquiring cosmetics maker Revlon Inc (NYSE: REV), Reuters reported. The development comes in the wake of Revlon filing for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. Revlon is facing heavy debts as it struggles to compete with brands driven by social media…

Benzinga

Tamil Nadu retail fuel outlets start to go dry

CHENNAI: Following Rajasthan, Andhra Pradesh and several other Indian states, retail fuel outlets in Tamil Nadu have also started to go dry.

The Times of India

Refiners led by Exxon face Biden’s wrath as profits explode

Exxon Mobil Corp., Marathon Petroleum Corp. and the other top U.S. oil refiners are on course to reap a combined $10 billion in profits this quarter even as U.S. President Joe Biden lambastes the industry for closing plants.

Tribune News Service

Cooking gas price to rise slowly

The Energy Policy Administration Committee (Epac) has decided to have the price of liquefied petroleum gas (LPG), which is used as household cooking gas, gradually increase over the next three months.

Bangkok Post

Enough stocks available, say oil firms

Advise customers not to resort to panic buying

The Hindu

Here's How Much You Would Have Made Owning Marathon Petroleum Stock In The Last 10 Years

Marathon Petroleum (NYSE:MPC) has outperformed the market over the past 10 years by 6.85% on an annualized basis producing an average annual return of 17.52%. Currently, Marathon Petroleum has a market capitalization of $55.54 billion.

Benzinga

Why Shares Of Imperial Petroleum Are Trading Lower Today

Shares of small-cap penny stock Imperial Petroleum Inc. (NASDAQ: IMPP) shares are trading lower after the company reported first-quarter 2022 earnings results.

Benzinga

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StockNews.com

3 Buffett Stocks to Buy on the Dip

Warren Buffett’s strategic investment decisions have been a guide for retail inventors for decades. And we think investors should consider buying the dip in these fundamentally solid stocks from his portfolio, Apple (AAPL), Amazon.com (AMZN), and Occidental Petroleum (OXY) now.

Benzinga

What 13 Analyst Ratings Have To Say About Marathon Petroleum

Within the last quarter, Marathon Petroleum (NYSE:MPC) has observed the following analyst ratings:

Benzinga

What Are Whales Doing With Occidental Petroleum

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 18 strange trades.

The Times of India

Wholesale price inflation jumps to 30-year high of 15.88% in May

NEW DELHI: India's wholesale price inflation (WPI) climbed 15.88% in May from year ago levels, staying in double-digits for the 14th straight month.

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Benzinga

Check Out What Whales Are Doing With MPC

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.

Asharq Al-Awsat

Egypt's Suez Canal Extends Rebates for LNG, LPG Carriers Until End-2022

Egypt's Suez Canal has extended rebates on canal tolls for liquefied petroleum gas (LPG) and liquefied natural gas (LNG) carriers from July until the end of the year, the canal authority said in circulars published on its website. LPG tankers operating between the American Gulf and ports west of India,…

Asharq Al-Awsat

Egypt to Set Up New Area for Crude Oil Storage South of Cairo

Egypt plans to set up new area for crude oil storage in El-Tebbin, south of Cairo, the petroleum ministry said in a statement on Sunday. The project, with an estimated cost of 1.8 billion Egyptian pounds ($96.21 million), aims to receive crude from Ain Sokhna terminal on the red sea…

Al Jazeera

Iran says oil sales strong despite effect of Ukraine war

Iran’s petroleum ministry has said it won’t lose customers even as China buys more oil from Russia.

Benzinga

This Is What Whales Are Betting On Marathon Petroleum

A whale with a lot of money to spend has taken a noticeably bearish stance on Marathon Petroleum. Looking at options history for Marathon Petroleum (NYSE:MPC) we detected 21 strange trades.

Benzinga

CNBC's Final Trades: Marathon Petroleum, HealthEquity, Cash And This Fast Food Major

On CNBC’s “Halftime Report Final Trades,” Joseph Terranova of Virtus Investment Partners said that Marathon Petroleum Corp (NYSE: MPC) is “the way to

Benzinga

Why Imperial Petroleum Shares Are Skyrocketing Today

Shares of small-cap penny stock Imperial Petroleum Inc (NASDAQ: IMPP) are trading higher by 37.08% at $0.81 on above-average volume as the stock trends across social media platforms.

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