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The Latest Breaking News from Petroleum

Is the US a bigger oil importer or exporter?

The US has been a net exporter of oil and petroleum products since late August 2021.

USAFacts

Down 13% YTD, Should You Buy the Dip in This Warren Buffett Energy Stock?

Occidental Petroleum is an oil and gas stock that is also part of Warren Buffett's equity portfolio. Trading at a cheap valuation, is OXY a good stock to own right now?

Barchart

South Africa’s move to green energy was slowed down by government to protect coal mining

South Africa’s Department of Mineral Resources and Energy was split in two after the 2024 general elections: Electricity and Energy and Mineral and Petroleum Resources. Part of the reason was to prevent conflicts of interest. Before the 2024 elections, the transition to renewable energy was at odds with the development…

The Conversation

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Gasoline versus Heating Oil- Where is VLO Heading?

Gasoline is a seasonal fuel, while heating oil is a proxy for other distillates, making it a more year-round oil product. As the markets move into the fall and winter seasons, gasoline demand will decline, but heating oil demand will remain steady.

Barchart

Is Marathon Petroleum Stock Underperforming the Dow?

Marathon Petroleum recently underperformed the Dow, but Wall Street analysts are moderately bullish about the stock’s prospects.

Barchart

Occidental Petroleum Stock: Is OXY Outperforming the Energy Sector?

Occidental Petroleum has underperformed the broader energy sector over the past year. However, analysts are moderately bullish on the stock's potential.

Barchart

Nigeria Government Reassures Public Of Sufficient Petrol Supply Amidst Fuel Price Concerns

Minister of State for Petroleum Resources Heineken Lokpobiri said the government wanted to make it clear it was not controlling petrol prices because the sector was deregulated, and added they were working hard to quickly resolve the situation, following which the prices will stabilize.

International Business Times

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What kinds of energy does the US use?

In 2023, 83% of energy consumption was from fossil fuels, 9% was from nuclear power, and 9% was from renewable energy.

USAFacts

What if Big Oil championed – and profited from – the green transition? Here’s how it could work

Like the petroleum industry itself, households are heavily invested in existing transport technologies. Getting oil and gas companies – and consumers – to switch to zero-emissions transport is a huge challenge.

The Conversation

As Seen on TV: Big Oil’s Dystopian View of California’s Climate Agenda

A $5 million prime-time ad campaign is aimed at climate policies the industry claims make life miserable for Californians.

Capital & Main

2 Stocks Warren Buffett Kept Buying While He Unloaded Apple

Warren Buffett's Berkshire Hathaway has been trimming its stake in Apple while increasing its positions in two dividend stocks, Chubb Limited and Occidental Petroleum Corporation, which have caught investors' attention with their strong financial performance and growth potential.

Barchart

Do Wall Street Analysts Like Marathon Petroleum Stock?

Marathon Petroleum has underperformed the broader market over the past year, yet analysts remain moderately bullish on the stock’s prospects.

Barchart

Today in Supreme Court History: August 16, 1933

8/16/1933: President Roosevelt adopts the Code of Fair Competition for the Governance of the Petroleum Industry. The Supreme Court declared those codes unconstitutional in Panama Refining Co. v. Ryan (1935).

Reason

Where are Crude Oil Prices Heading?

Nearby NYMEX crude oil prices reached a 2024 high in mid-April. After falling to an early June low, prices recovered to a lower high in early July, where they ran out of upside steam. As the fall and winter approach, crude oil is trending lower, but the upcoming U.S. election…

Barchart

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

Despite Occidental Petroleum underperforming the broader market over the past year, analysts remain moderately bullish on the stock’s potential.

The Guardian - AU

Companies behind Pep11 ask court to force Albanese government decision on NSW gas project

The development, planned to be offshore from Sydney to Newcastle, was vetoed by Scott Morrison when resources minister

Top News

Republicans Criticize Biden Administration's Oil Purchase For SPR

The Biden administration's recent oil purchase for the Strategic Petroleum Reserve has sparked debate among lawmakers over its implications and strategic i...

International Business Times

BP To Develop New Oil And Gas Fields In Iraq

Iraq signed an agreement with British energy giant British Petroleum on Thursday to develop four oil and gas fields in the northern province of Kirkuk.

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Multichannel News

Comcast Names Lance West To Head Washington Office

Executive was previously with the American Petroleum Institute

The Guardian - UK

Climate hero or villain? Fossil fuel frenzy challenges Norway’s green image

As it rapidly adopts clean technologies while drilling furiously for oil and gas, the Nordic nation is a paradox

Barchart

What You Need to Know Ahead of Marathon Petroleum's Earnings Release

Marathon Petroleum is all set to announce its second-quarter results next month, and analysts forecast a double-digit decline in the company’s bottom-line figure.

Barchart

Here's What to Expect From Occidental Petroleum's Next Earnings Report

Occidental Petroleum is expected to release its fiscal second-quarter earnings next month, and analysts project a double-digit profit increase.

International Business Times

Oil-tainted Lake A Symptom, And Symbol, Of Venezuela's Collapse

A putrid smell hangs over the black-stained shores of Lake Maracaibo in Venezuela, where an oil slick is emblematic of the steep decline in the country's once-enviable petroleum industry.

The Guardian - US

US oil company ran 1977 article predicting climate crisis could cause starvation

Marathon Petroleum predecessor warned of potential for ‘social and economic calamities’ in decades-old publication

The Independent UK

Papua New Guinea's sidelined minister to fight domestic violence charge in Sydney court next year

Papua New Guinea’s sidelined Petroleum Minister, Jimmy Maladina, will appear in a Sydney court in March to fight a charge of assaulting a woman during a domestic dispute

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