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The Latest Breaking News from Petroleum

Oil shortages escalate from wars in Iran and Ukraine, with few signs of relief

The global energy crisis triggered by two wars is set to worsen, as Ukraine pummels Russia’s refining industry and Iranian attacks continue on Middle Eastern oil production and refining. Further, the nature of the destruction and the growing number of fronts and warring parties involved may herald a new era…

The Conversation

Stocks in news: Paytm, LIC, Airtel, BSE and ONGC

Markets extended gains on Monday, driven by easing oil prices and strong quarterly earnings. Paytm's parent company sees investors selling shares worth up to Rs 2,002 crore. The government will offer shares in LIC to non-retail investors starting Tuesday. Airtel, ONGC, and BSE will announce their first quarter results today.…

The Economic Times

Chevron launches high-speed boat to transport oil workers

Chevron Thailand Exploration and Production is enhancing its offshore petroleum operations by deploying the world's first trimaran crew vessel to transport workers to drilling platforms in the Gulf of Thailand.

Bangkok Post

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ONGC to reserve half of new oil storage for strategic reserves

India's Oil and Natural Gas Corp will reserve half of its planned oil storage. This new facility will meet the country's strategic petroleum needs. India is expanding its strategic petroleum reserve capacity with private participation. The nation plans additional storage facilities in Odisha and Padur. India currently has capacity to…

The Economic Times

Major oil companies reap profits as US-Iran fighting drives energy prices higher

Oil and gas giants raked in massive spring profits while fighting between Iran and the US impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages.

Euronews

Corporate, personal loans drive 63% of bank credit growth: SBI research report

Corporate and retail loans fueled bank credit growth during the April-June quarter. Industry and personal loans together accounted for sixty-three percent of this expansion. Petroleum, infrastructure, engineering, and chemicals led industry credit growth significantly. Loans against gold jewellery emerged as the top personal lending contributor. These key sectors drove the…

The Economic Times

Glycerin Is the Most Affordable Skin Moisturiser Indian Beauty Routines Have Always Ignored

What Glycerin Actually Does to Your SkinGlycerin is a humectant. That single fact explains everything. It pulls water from the air and from the deeper layers of your skin up into the outermost layer, the stratum corneum, and holds it there. A 2016 study published in the journal Skin Pharmacology…

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Petrol could cost Rs 125/litre without ethanol blending: Government

The Ministry of Petroleum defended the Ethanol Blended Petrol Programme against criticisms. It stated petrol prices would have risen significantly without this initiative. This program provided substantial financial relief to consumers during global oil volatility. Ethanol blending has saved foreign exchange and reduced carbon emissions significantly.

The Economic Times

In 2008, the next big car innovation didn't come from steel, it came from coconuts, and the auto industry took notice

Coconut fiber car parts: Ford Motor Company and Scotts Miracle-Gro tested coconut fibers for vehicle components. Baylor University researchers also developed technology for using coconut fibers in automotive interiors. This initiative aimed to reduce petroleum use and create lighter vehicle parts. The projects sought to create new markets for coconut…

The Economic Times

Occidental Petroleum Stock Outlook: Is Wall Street Bullish or Bearish?

Despite Occidental Petroleum's outperformance relative to the S&P 500 Index over the past year, Wall Street analysts remain cautiously optimistic about the stock’s prospects.

Barchart

By how much will E20 petrol reduce your car's mileage? One ministry says one thing, another says another

The Road ministry said E20 petrol might hit your mileage by 2-6%, based on a study by ARAI, SIAM, and Indian Oil Corporation. The statement sparked a buzz because just a few days earlier, Petroleum ministry had given a different figure.

The Economic Times

Oil companies are expected to reap big profits because of US-Iran conflict

Analysts are expecting major oil companies to report large profits while fighting between Iran and the U.S. impeded petroleum shipments

The Independent UK

Govt says E20 fuel safe for vehicles, defends ethanol blending programme

The government has defended its ethanol blending program, stating no engine damage has been found. Extensive testing and field experience confirm E20 petrol is safe for vehicles. This program strengthens India's energy security and shields consumers from oil price volatility. Public sector oil companies incur under-recoveries to maintain stable fuel…

The Economic Times

Corn Pushes Lower on Wednesday

Corn futures gave back the bounce from Tuesday, with contracts closing the Wednesday session down 2 to 9 ½ cents, led by the nearbys. The CmdtyView national average Cash Corn price was down 9 1/2 cents at $4.19 3/4. EIA’s weekly Petroleum Status Report showed ethanol production up another 39,000...

Barchart

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Barchart

Corn Facing Wednesday Weakness

Corn futures are down 8 to 9 cents so far across most contracts on Wednesday, giving back the bounce from Tuesday. The CmdtyView national average Cash Corn price is down 8 1/2 cents at $4.28 1/4. EIA’s weekly Petroleum Status Report showed ethanol production up another 39,000 bpd in the...

International Business Times

America's Emergency Oil Reserve Keeps Falling To Decade Lows. Auditors Warn It May Not Be Ready For Another Crisis

The U.S: Strategic Petroleum Reserve fell this week to its lowest level since March 1983 after the federal government withdrew a total of 352 million barrels of crude oil over the past four years to respond to geopolitical conflicts.

The Economic Times

India's top refiner IOCL scouts stakes in gas carriers as it plans higher US imports

Indian Oil Corporation is seeking to acquire a fifty percent stake in very large gas carriers. This move prepares the company for increased liquefied petroleum gas imports from the United States. Indian state fuel retailers will increase their purchases of U.S. LPG starting from the year 2027. The company is…

The Economic Times

New Zealand grants first offshore petroleum permit since reversing exploration ban

New Zealand's government has issued its first offshore petroleum exploration permit. This action follows the reversal of a ban previously imposed by the former Labour government. Resources Minister Shane Jones stated the permit signifies the nation's openness for business. Australian company EnZed Energy received the permit for the Taranaki Basin.…

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The Economic Times

Will using E20 petrol lead to insurance claim rejection? Here’s what govt says

The Ministry of Petroleum and Natural Gas has clarified E20 petrol use. Insurance claims cannot be rejected solely based on using E20 fuel. This statement addresses growing concerns and misinformation surrounding ethanol-blended fuel. The Ethanol Blending Programme has been scientifically validated and implemented with industry partners. No widespread engine issues…

The Conversation

French climate lawsuit offers a window into the next round of the global legal fight

A recent decision by a French court requires a major European oil and gas company to report not only its own climate-warming emissions and those of its contractors but also those of its customers, who burn the oil and petroleum products the company sells.

The Economic Times

Drones attack Iran's neighbours as Tehran appears to test Trump's latest pause

Saudi Arabia, Jordan, and Iraq reported drone attacks on Monday. Iran-backed militias launched drones from Iraq targeting Saudi petroleum sites. Houthi allies in Yemen also claimed attacks on Saudi oil transit sites. The United States had recently suspended its air strike campaign against Iran. This strategic shift occurred after military…

MarketBeat

Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?

Amid intensifying Iran war disruptions and record crack spreads, Valero, Marathon Petroleum, and Phillips 66 shares have surged to all-time highs, backed by strong earnings, buybacks, and dividends.

The Economic Times

In 2007, scientists found giant underwater domes off California; the truth was stranger than anyone expected

Mysterious underwater domes off California were identified as ancient asphalt volcanoes. These formations originated from hardened crude oil and marine debris over centuries. The eruptions likely triggered methane releases and created vast ocean dead zones. However, these extinct structures provided rare hard habitats for deep-sea marine life. Scientists continue to…

MarketBeat

Oil Prices Are Surging and These 4 Stocks Are Cashing In

Rising oil prices tied to Iran tensions and surging AI-driven power demand are boosting Valero, Marathon Petroleum, GE Vernova and Ecovyst, analysts say, as refiners and grid suppliers convert scarcity into cash.

Benzinga

Kuwait Signs $16 Billion Pipeline Deal With Blackstone, KKR, Brookfield Despite Rising Regional Tensions

Kuwait Petroleum Corp. (KPC) agreed to a $16 billion lease‑and‑leaseback deal with Blackstone Inc., KKR & Co. Inc. and Brookfield Asset Management Ltd. for its crude oil pipeline network, a landmark transaction struck amid rising regional tensions.

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