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The Latest Breaking News from Petroleum

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

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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

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

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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

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.

Benzinga

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

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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.

StockNews.com

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),…

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The Hindu

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

Benzinga

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…

Tribune News Service

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.

Bangkok Post

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.

The Hindu

Enough stocks available, say oil firms

Advise customers not to resort to panic buying

Benzinga

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.

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