The Latest Breaking News from Petroleum

Since the 1st Finance Commission, some States have been arguing that their contributions to the Union tax revenue have been higher than others and, therefore, they rightfully have higher shares in the Union tax revenue.

Africa's largest oil refinery in Nigeria has begun production, potentially boosting the region's refining capacity and reducing reliance on imported petrol...

Residents of Tiruvottiyur’s wards four and six who claim to be affected by the oil spill caused by the Chennai Petroleum Corporation Limited in December have alleged that they were not considered for compensation. The ward councillors said the compensation assessment, undertaken by revenue officials, has overlooked thousands of affected…

Houthi militia attacks in Red Sea force cargo ships to take longer route, impacting global trade & increasing freight costs.

The former energy minister has said he will quit over the Offshore Petroleum Licensing Bill

What you need to know… The S&P 500 Index ($SPX ) (SPY ) on Thursday closed down -0.34%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.03%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.53%. Stocks on Thursday settled mixed, with the S&P...

Crude oil closed 2023 at below $72 per barrel. The price was lower for the year and just below the U.S. administration’s $67 to $72 per barrel buying zone to replenish the Strategic Petroleum Reserve. As the market heads into 2024, bullish and bearish factors pull the energy commodity in…

US energy company APA Corporation has agreed to buy competitor Callon Petroleum in a transaction valued around $4.5 billion including debt, the firms announced Thursday, marking the latest deal in the sector.

Petroleum dealers' fears of losses on stock contained due to customer rush caused by tanker drivers strike, leading to traffic snarls and stock outs.