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The Latest Breaking News from Petroleum

Looking Into Marathon Petroleum's Recent Short Interest

Marathon Petroleum's (NYSE:MPC) short percent of float has fallen 16.08% since its last report. The company recently reported that it has 14.53 million shares sold short, which is 2.61% of all regular shares that are available for trading.

Benzinga

Recap: Marathon Petroleum Q1 Earnings

Marathon Petroleum (NYSE:MPC) reported its Q1 earnings results on Tuesday, May 3, 2022 at 06:05 AM. Here's what investors need to know about the announcement.

Benzinga

Exports up 24% to $38 billion in April; trade deficit widens to $20 billion

NEW DELHI: Exports rose by 24.22 per cent to a monthly record high of $38.19 billion in April on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as trade deficit widened to $20 billion during the month, the commerce ministry said on Tuesday.

The Times of India

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If You Invested $100 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 4.82% on an annualized basis producing an average annual return of 16.49%. Currently, Marathon Petroleum has a market capitalization of $49.56 billion.

Benzinga

Former petroleum secretary Tarun Kapoor appointed advisor to PM

Senior bureaucrats Hari Ranjan Rao and Atish Chandra have been appointed as additional secretaries in the PMO

The Hindu

Marathon Petroleum's Earnings Outlook

Marathon Petroleum (NYSE:MPC) is set to give its latest quarterly earnings report on Tuesday, 2022-05-03. Here's what investors need to know before the announcement. Analysts estimate that Marathon Petroleum will report an earnings per share (EPS) of $1.11.

Benzinga

Yechury terms LPG cylinder price hike 'attack on labour class, poor'

Communist Party of India (Marxist) General Secretary Sitaram Yechury on Sunday lashed out at the Centre over hike in petroleum prices and termed it an "attack on the labour class and poor" on the Labour Day. Full story

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Lebanon: Concerns Rise of Total Darkness after the Polls

Warnings are growing in Lebanon that the country’s lingering electricity crisis could worsen after its parliamentary elections on May 15, amid fears of total darkness engulfing the nation in light of dysfunctional public services. Walid Fayyad, Lebanon’s Energy Minister declared that the completion of the contract to import gas from…

Asharq Al-Awsat

2 Stocks to Buy as Gasoline Prices Keep Rising into the Summer

Despite declining oil prices and increased productivity, gas stations have managed to keep gas prices high--as is traditional. Furthermore, because seasonal gasoline demand is estimated to soar, we think it could be wise to bet on quality oil & gas industry stocks Marathon Petroleum (MPC) and Valero Energy (VLO). Let’s…

StockNews.com

Tamboran Resources facing hefty fine for failing to front Beetaloo Basin gas grants Senate inquiry

Sweetpea Petroleum, a company awarded $7.5 million of taxpayer money under a Coalition government program subsidising exploration wells in the Beetaloo Basin, could be found in contempt of the Senate for failing to appear at a federal Senate inquiry into the grants program.

ABC News

California subpoenas ExxonMobil in probe of plastics waste

California’s attorney general has subpoenaed ExxonMobil as part of what he called a first-of-its-kind broader investigation into the petroleum industry for its alleged role in causing a global plastic pollution crisis

The Independent UK

Occidental Petroleum Whale Trades For April 28

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

Here's Why Warren Buffett Is So Bullish on Occidental Petroleum?

Revered investor Warren Buffett has a roughly 14% stake in Occidental Petroleum (OXY), one of the largest oil producers in the U.S. Buffett has been betting on OXY’s rapid growth and managerial efficiency of late. Furthermore, with a focus on sustainable production to reduce its carbon footprint, Buffett believes that…

StockNews.com

‘Travesty of justice’: Former Petroleum Minister Moily on PM’s ‘reduce VAT’ on petrol, diesel remark

Mr. Moily said Prime Minister Modi should have addressed the issue of skyrocketing prices as the average consumer food price has increased by 100% between March 2021 and March 2022, according to numbers released by the NSO

The Hindu

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The Times of India

Travesty of justice: Former petroleum minister M Veerappa Moily on PM's 'reduce VAT' on petrol, diesel remark

NEW DELHI: Former petroleum minister M Veerappa Moily on Thursday hit out at Prime Minister Narendra Modi over his attack on the opposition-ruled states for not reducing Value Added Tax (VAT) on petrol and diesel, saying his remarks amount to "travesty of justice" in light of the Centre not cutting…

Marie Claire

What Is Slugging? The Benefits and Drawbacks, According to a Dermatologist

Hydration hack, incoming.

The Hindu

Opposition irked by PM Modi’s VAT remark

Chief Ministers of States ruled by BJP rivals decry PM’s words, lay accounts on table

The Hindu

PM Modi’s remarks on fuel prices one-sided, misleading: Mamata Banerjee

Centre adopts ‘step–motherly’ attitude towards the Opposition–ruled States, she says

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Benzinga

Biden Administration Reverses Trump's Effort To Open More Land For Oil Drilling In Arctic: CNBC

The Biden administration reversed a Trump administration plan that allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling, writes CNBC. The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in…

Benzinga

This Is What Whales Are Betting On Occidental Petroleum

A whale with a lot of money to spend has taken a noticeably bearish stance on Occidental Petroleum. Looking at options history for Occidental Petroleum (NYSE:OXY) we detected 25 strange trades.

The Independent UK

Manhunt on for suspects as 100 die in Nigeria refinery blast

A Nigerian oil official says as many as 100 people may have died in an explosion at an illegal oil refinery in southeastern Nigeria

The Times of India

India's oil import bill doubles to $119 billion in FY22

NEW DELHI: India's crude oil import bill nearly doubled to $ 119 billion in the fiscal year that ended on March 31, as energy prices soared globally following the return of demand and war in Ukraine.

Asharq Al-Awsat

Explosion at Illegal Oil Refining Depot in Nigeria Kills over 100

An explosion at an illegal oil refining depot in Nigeria's Rivers state killed over 100 people overnight, a local government official and the NGO Youths and Environmental Advocacy Centre (YEAC) said on Saturday. "The fire outbreak occurred at an illegal bunkering site and it affected over 100 people who were…

The Hindu

Centre thinking of bringing petroleum products under GST

‘TRS has no moral right to question hike of petrol and diesel’

The Independent UK

US military drops appeal of Hawaii order to drain fuel tanks

The U.S. government is dropping its appeal of a Hawaii order requiring it to remove fuel from a massive military fuel storage facility that leaked petroleum into the Navy’s water system at Pearl Harbor last year

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