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The Latest Breaking News from Petroleum

OPS tells Tamil Nadu to discuss with Centre to bring petroleum products under GST

CHENNAI: AIADMK coordinator O Panneerselvam on Wednesday urged Tamil Nadu chief minister M K Stalin to hold discussions with Union finance minister Nirmala Sitharaman and chief ministers of other states to bring petroleum products under the GST regime and safeguard the interests of all sections.

The Times of India

Analyst Ratings for Laredo Petroleum

Laredo Petroleum (NYSE:LPI) has observed the following analyst ratings within the last quarter:

Benzinga

Exxon doubles down on ‘advanced recycling’ claims that yield few results

The petroleum company is under investigation for misleading the public while exacerbating the global plastic pollution crisis

The Guardian - US

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Panneerselvam urges Stalin to take steps to bring petroleum products under GST net

AIADMK leader wants CM to discuss the issue with Nirmala Sitharaman

The Hindu

Gang hurls Molotov cocktails at police team in Cuddalore; none injured

The gang was engaged in stealing scarp materials from an abandoned petroleum refinery

The Hindu

California lays out plan to drastically cut fossil fuel use

California air regulators said Tuesday the state should cut petroleum use by 91% by 2045 in order to achieve ambitious climate change goals

The Independent UK

Recap: Occidental Petroleum Q1 Earnings

Occidental Petroleum (NYSE:OXY) reported its Q1 earnings results on Tuesday, May 10, 2022 at 04:15 PM. Here's what investors need to know about the announcement. Earnings Occidental Petroleum beat estimated earnings by 4.43%, reporting an EPS of $2.12 versus an estimate of $2.03.

Benzinga

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This Is What Whales Are Betting On 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 48 strange trades.

Benzinga

Looking Into Marathon Petroleum's Return On Capital Employed

According to Benzinga Pro, during Q1, Marathon Petroleum (NYSE:MPC) earned $1.17 billion, a 6.06% increase from the preceding quarter. Marathon Petroleum also posted a total of $38.38 billion in sales, a 7.8% increase since Q4.

Benzinga

Rupee’s plunge to ₹77.4 to a dollar and further will bring unprecedented challenges, warns Rahul Gandhi

Congress cites “runaway inflation, flight of capital, depleting foreign exchange, growing communal divide and policy paralysis” as reasons.

The Hindu

Three things that can go wrong at an illegal oil refinery in Nigeria

Years of government neglect and unemployment in Nigeria’s Niger Delta region have given rise to a widespread industry of illegally refining stolen oil.

The Conversation

Ship loaded with Russian coal docks in Spanish port of Gijon, port says

A Maltese-flagged ship carrying Russian coal and petroleum coke has docked in the northern Spanish port of Gijon, port authorities said on Monday.

Reuters

KNPC Records More than $1 Billion Net Profits

Kuwait National Petroleum Company (KNPC) recorded a 133 percent increase in its net profit during the fiscal year 2021-2022 compared to last year. Walid Al-Badr, CEO of Kuwait Petroleum, announced that the company’s profits for the fiscal year 2021-2022 totaled 341.38 million dinars ($1.114 billion) compared to 146.544 million dinars…

Asharq Al-Awsat

Sri Lanka prime minister resigns, curfew imposed after clashes

Sri Lanka's prime minister resigned on Monday to make way for a unity government that would try to find a way out of the country's worst economic crisis in history, but protesters said they also wanted his brother to stand down as president.

Reuters

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The Hindu

Domestic LPG cylinder price breaches ₹1,000 mark in several cities

The price of a cylinder containing 14.2 kg of liquefied petroleum gas in Chennai now stands at ₹1,015.50

Dynamite News

Domestic LPG cylinder price hiked by Rs 50

The price of Liquefied petroleum gas (LPG) cylinder has been increased by Rs 50.

StockNews.com

Apache vs. Antero Resources: Which Oil & Gas Stock is a Better Buy?

Despite a tighter supply of oil worldwide due to escalating sanctions on Russian oil exports, President Biden’s plan to replenish Strategic Petroleum Reserve should benefit companies engaged in the upstream segment in the coming months. Given the rising demand and high prices, prominent players in this space, APA Corporation (APA)…

Benzinga

Looking At Occidental Petroleum's Recent Whale Trades

Someone with a lot of money to spend has taken a bullish 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.

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Bangkok Post

PTTEP aims to hike output

PTT Exploration and Production Plc (PTTEP) is determined to increase petroleum production from the Erawan and Bongkot gas fields in the Gulf of Thailand to 1,500 metric million standard cubic feet per day (MMSCFD) in the next two years after lower domestic gas supply led to more imports of expensive…

StockNews.com

5 Resilient Dividend Stocks to Buy and Hold

Yesterday, the Federal Reserve implemented its first 50-basis-point interest rate hike since 2000 to tame rising inflation. The volatility in the stock market has been increasing with the Fed’s monetary policy pivot, historically high levels of inflation, and the Russia-Ukraine war. And analysts expect the S&P 500 to plunge further.…

The Hindu

Watch the gap: On widening trade deficit

The widening trade deficit puts more pressure on the rupee and aids growth-retarding inflation.

Benzinga

Executives Buy Over $373M Of 4 Stocks

Although crude oil futures traded higher on Thursday, there were a few notable insider trades.

Benzinga

Warren Buffett's Berkshire Hathaway Boosts Stake In Occidental Petroleum

Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK-B) has bought another 5.9 million shares of Occidental Petroleum Corporation (NYSE:OXY), boosting its stake in the oil company to ~15.2%. Occidental's share price has doubled this year, benefiting from Berkshire's purchases and rising oil prices, with a further boost from the Ukraine crisis. The purchases made on May 2…

Benzinga

Callon Petroleum: Q1 Earnings Insights

Callon Petroleum (NYSE:CPE) reported its Q1 earnings results on Wednesday, May 4, 2022 at 04:00 PM. Here's what investors need to know about the announcement. Earnings Callon Petroleum beat estimated earnings by 3.0%, reporting an EPS of $3.43 versus an estimate of $3.33.

Benzinga

Death Cross Looms Over China Petroleum Investors

If history is any guide, there may be trouble ahead for shares of China Petroleum (NYSE:SNP). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.

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