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The Latest Breaking News from Petroleum

California oil regulator confirms methane leak at idle oil wells in Bakersfield

LOS ANGELES — California regulators have confirmed a methane gas leak at a pair of idle oil wells near a residential neighborhood in Bakersfield, raising the concerns of local environmental groups who fear the problem might be more widespread.

Los Angeles Times

Pressure building on CM to reduce sales tax on petrol, diesel

No discussion on reduction of KST on petroleum products has taken place so far

The Hindu

Petroleum dealers write to Centre asking not to restrict fuel supplies

Jude Mathew of the Tamil Nadu Independent Vehicle Owners Association said that such guidelines would only lead to a shortage in fuel supplies and disruption in services.

The Hindu

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Looking Into Berry Petroleum's Return On Capital Employed

Benzinga Pro data, Berry Petroleum (NASDAQ:BRY) reported Q1 sales of $94.08 million. Earnings fell to a loss of $56.81 million, resulting in a 743.74% decrease from last quarter.

Benzinga

5 Value Stocks To Watch In The Energy Sector

Understanding Value Stocks

Benzinga

Forex crisis: Sri Lanka lowers limit of foreign currency people can hold to $10,000 from $15,000

COLOMBO: Sri Lanka's central bank on Thursday decided to substantially lower the limit of foreign currency a person can hold to $10,000 from $15,000 and said it will crack down on those possessing them for over three months as the island nation faced its worst economic crisis.

The Times of India

Peering Into Marathon Petroleum's Recent Short Interest

Marathon Petroleum's (NYSE:MPC) short percent of float has risen 11.11% since its last report. The company recently reported that it has 16.18 million shares sold short, which is 2.9% of all regular shares that are available for trading.

Benzinga

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In East Timor, president-elect confronts thorny addiction to oil

Nobel laureate Jose Ramos-Horta will be inaugurated on Friday as his country eyes new oil and gas development.

Al Jazeera

Domestic LPG prices hiked again, rates cross ₹1,000-mark; check new rates

The prices of liquified petroleum gas (LPG) were increased by Rs 3.50 on Thursday. Read further on Dynamite News:

Dynamite News

Woodside shareholders back BHP oil merger

Woodside shareholders have backed the company's merger with BHP's petroleum arm, creating a new global heavyweight.

AAP

Government shelves BPCL privatisation for now as bidders exit

NEW DELHI: India has stalled the privatisation of state-owned refiner Bharat Petroleum Corporation Limiter (BPCL) as most bidders walked out of the process, according to an official with direct knowledge of the matter.

The Times of India

Oil tax revenues in New Mexico, other states spotlight a dependence on fossil-fuel taxes

Their budgets might be rich for now with petroleum cash. But, if tackling climate change cuts into that, will they tax residents more — or reduce public services?

Chicago Sun-Times

Q1 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios

The latest round of 13F filings from institutional investors is out, revealing to the world the stocks that some of the richest and most successful investors have been buying and selling.

Benzinga

Egypt Begins Trial Operation of Development Projects in Petrochemical Plants

Egypt inaugurated on Monday comprehensive development projects at the factories of the Egyptian Petrochemical Company in Alexandria. Petroleum Minister Tarek el-Molla inaugurated the trial operation of the developed factories, including the chlorine plant and the new thermal cracking unit of the vinyl chloride monomer production plant. He stressed the sector's…

Asharq Al-Awsat

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StockNews.com

3 Energy Stocks to Buy on the Dip

While most of the market has been mired in a brutal correction, energy stocks have had a very mild pullback. Investors should consider buying a high-quality energy stock like Ovintiv (OVV), Occidental Petroleum (OXY), and VAALCO Energy (EGY) as the underlying fundamentals keep improving.

Benzinga

Why Imperial Petroleum Shares Are Rising

Shares of small-cap penny stock Imperial Petroleum Inc (NASDAQ: IMPP) are trading higher by 16.82% at $0.78.

Benzinga

Expert Ratings for Marathon Petroleum

Within the last quarter, Marathon Petroleum (NYSE:MPC) has observed the following analyst ratings:

Benzinga

Here's How Much You Would Have Made Owning Occidental Petroleum Stock In The Last 20 Years

Occidental Petroleum (NYSE:OXY) has outperformed the market over the past 20 years by 1.06% on an annualized basis producing an average annual return of 7.76%. Currently, Occidental Petroleum has a market capitalization of $64.08 billion.

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Benzinga

This Oil Stock Has A Better 1-Year Return Than Tesla, Ford, Nvidia, Microsoft, Amazon, Disney, Apple And ETC

Occidental Petroleum Corporation (NYSE: OXY) is among the world’s most prolific oil exploration and production companies, and over the past year, recent traders and investors in the firm have been rewarded handsomely.

Benzinga

CNBC's Final Trades: Iqvia Holdings, AutoZone, Occidental Petroleum And These Undervalued Picks

On CNBC’s “Halftime Report Final Trades,” Shannon Saccocia of Boston Private chose Iqvia Holdings Inc (NYSE: IQV), saying that the firm provides data analytics for life-scienc

The Hindu

Left parties call for week-long nationwide protests against price rise, unemployment from May 25

The Left parties demand withdrawal of all cess/surcharges on petroleum products and roll back price hikes, particularly of cooking gas cylinders.

The Conversation

Kenya's fuel crisis: how the country's subsidy system works

Oil is an essential commodity for Kenya’s transport and industrial production, electricity generation and water provision. In 2008, as the world grappled with high oil prices, Kenya introduced price controls to cushion the blow for its citizens. The controls worked for over 10 years. But, since the start of April,…

StockNews.com

3 High-Yield Energy Stocks to Buy in May

Energy prices are expected to remain high this year owing to the Russia-Ukraine war and elevated energy demand. So, energy companies could generate solid gains in coming quarters with record-high gas prices and highly fluctuating oil prices. Therefore, we think investors that are looking to generate a steady income stream…

Benzinga

Starbucks And 2 Other Stocks Insiders Are Buying

Although the Dow Jones jumped by more than 400 points on Friday, there were a few notable insider trades.

Reuters

Ten Nigerian cabinet ministers resign to run in next year's election

Ten Nigerian cabinet ministers, including the junior petroleum minister, have resigned to run in next year's election, the information minister said on Friday, with the president pledging to replace them to keep government running.

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