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The Latest Breaking News from Petroleum

Egypt Raises Domestic Fuel Prices for 6th Time in a Row

Egypt raised on Wednesday its domestic fuel prices for the sixth time in a row along with the prices of diesel, which it has managed to sell at fixed price for three years. The fuel pricing committee in a quarterly review raised domestic fuel prices by EGP0.50 for 80-octane, 92…

Asharq Al-Awsat

OPEC Sees Slower 2023 Oil Demand Growth

OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its first forecast for next year, citing still robust economic growth and progress in containing COVID-19 in China. In a monthly report on Tuesday, the Organization of the Petroleum…

Asharq Al-Awsat

PTT to give Oil Fund B3bn boost

National oil and gas conglomerate PTT Plc has decided to allocate 3 billion baht to the fast-dwindling Oil Fuel Fund, following its months-long support of the diesel and liquefied petroleum gas (LPG) price subsidy programmes.

Bangkok Post

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Occidental Petroleum Whale Trades For July 12

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 15 strange trades.

Benzinga

The 4 Top-Performing S&P 500 Stocks as of July 2022

Worries over the Fed’s hawkish stance to curb the rising inflation and growing recession risks have weighed heavily on market sentiment, causing the benchmark S&P 500 to tumble significantly. However, fundamentally sound S&P 500 stocks Occidental Petroleum (OXY), Hess (HES), Valero Energy (VLO), and Exxon Mobil (XOM) managed to gain…

StockNews.com

PTT injects B3bn into Oil Fuel Fund

National oil and gas conglomerate PTT Plc has resolved to allocate 3 billion baht to support the state Oil Fuel Fund, which is shouldering a heavy financial burden to put a cap on diesel and liquefied petroleum gas (LPG) prices.

Bangkok Post

Egypt Takes Measures to Improve Energy Efficiency, Saves $42M Annually

Egypt has managed to save EGP813 million ($42.4 million) annually by adopting measures to improve the energy efficiency in 31 petroleum companies. In a statement on Monday, the Petroleum Ministry said the country’s petroleum and mineral resources sector is implementing an integrated work program to improve energy efficiency in all…

Asharq Al-Awsat

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Goldman Sachs Vs. Warren Buffett: 2 Sides Of The Occidental Petroleum Trade

It is not too often that two titans of Wall Street are on the opposite side of a trade, but that is the case with a Goldman Sachs analyst and Warren Buffett regarding Occidental Petro Corp (NYSE: OXY).

Benzinga

Warren Buffett Upped His Stake in This Energy Stock Again. Should We Do It, Too?

The oil and gas company Occidental Petroleum (OXY) has achieved strong top and bottom-line growth in its most recent quarter. Also, the stock has gained nearly 109% in price year-to-date, driven by the industry tailwinds. Moreover, renowned investor Warren Buffett has bought more OXY shares, raising its stake to 18.7%…

StockNews.com

Marathon Petroleum Whale Trades Spotted

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 13 strange trades.

Benzinga

Kanniyakumari MLA calls for a reduction in LPG price

He appealed to the Petroleum Minister to slash it by ₹100 per refill

The Hindu

Benzinga's Top Ratings Upgrades, Downgrades For July 6, 2022

Upgrades

Benzinga

What 4 Analyst Ratings Have To Say About Callon Petroleum

Within the last quarter, Callon Petroleum (NYSE:CPE) has observed the following analyst ratings:

Benzinga

OPEC secretary-general is dead, Nigerian officials announce

Nigerian authorities have announced that the Secretary-General of the Organization of Petroleum Exporting Countries has died

The Independent UK

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Bangkok Post

Opec secretary-general dies 'unexpectedly'

Organization of the Petroleum Exporting Countries (Opec) secretary-general Mohammad Barkindo, an oil industry veteran who steered the group through the creation of the Opec+ alliance, has died in his native Nigeria, according to officials.

Asharq Al-Awsat

OPEC Secretary-General Barkindo Dies

OPEC's Secretary-General Mohammad Barkindo has died, Mele Kyari, the chief executive of Nigerian National Petroleum Corp said on Wednesday. Barkindo, who was 63 years old, was due to step down at the end of this month after six years as OPEC's secretary-general, Reuters reported. "We lost our esteemed Dr.

Benzinga

Occidental Petroleum Whale Trades Spotted

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 69 strange trades.

The Hindu

A matter of import: On spectre of wider trade and current account deficits

Spectre of wider trade and current account deficits is dragging the rupee down

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Benzinga

Why Camber Energy, Indonesia Energy, Houston American Energy And Imperial Petroleum Shares Are Falling Today

Camber Energy Inc (NASDAQ: CEI), Indonesia Energy Corp Ltd (NASDAQ: INDO), Houston American Energy Corporation (NASDAQ: HUSA) and

StockNews.com

3 Large-Cap Stocks Wall Street Thinks Will Rally More Than 30%

The stock market volatility is not expected to lessen anytime soon, with soaring inflation and the Fed’s aggressive stance to fight it. Despite the market uncertainties, Wall Street analysts see significant upside in large-cap stocks Diamondback Energy (FANG), Marathon Petroleum (MPC), and E.ON SE (EONGY). Keep reading….

StockNews.com

1 Energy Upgrade to Snap Up, and 1 Downgrade to Avoid

Energy stocks have been benefiting due to bullish investors’ sentiments around this sector. Hence, oil and gas stock Marathon Petroleum (MPC) which was recently upgraded in our proprietary rating system, might be a solid buy. However, the progress in the clean energy sector is slow. Despite higher spending, net-zero might…

StockNews.com

Warren Buffett Just Picked up This Buy-Rated Energy Stock

Leading oil and gas company Occidental Petroleum (OXY) reported impressive first-quarter results. Shares of OXY have gained in double digits so far this year, outperforming the broader market, thanks to surging energy prices. Moreover, Warren Buffett has recently added more OXY shares to his portfolio. And this stock is rated…

Asharq Al-Awsat

OPEC+ to Maintain Slight Output Hike in August

OPEC+ agreed on Thursday to stick to a planned oil output hike this summer but avoided discussing policy from September onwards as prices have risen on tight supplies and worries that the group has little ability to pump more. The group, which comprises the Organization of the Petroleum Exporting Countries…

Benzinga

Here's How Much $100 Invested In Marathon Petroleum 10 Years Ago Would Be Worth Today

Marathon Petroleum (NYSE:MPC) has outperformed the market over the past 10 years by 3.44% on an annualized basis producing an average annual return of 14.14%. Currently, Marathon Petroleum has a market capitalization of $44.84 billion.

Benzinga

Why Indonesia Energy, Houston American Energy And Imperial Petroleum Shares Are Falling Today

Indonesia Energy Corp Ltd (NASDAQ: INDO), Houston American Energy Corporation (NASDAQ: HUSA) and Imperial Petroleum Inc (NASDAQ:

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