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The Latest Breaking News from Petroleum

Executives Buy Over $373M Of 4 Stocks

Although crude oil futures traded higher on Thursday, there were a few notable insider trades.

Benzinga

Warren Buffett's Berkshire Hathaway Boosts Stake In Occidental Petroleum

Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK-B) has bought another 5.9 million shares of Occidental Petroleum Corporation (NYSE:OXY), boosting its stake in the oil company to ~15.2%. Occidental's share price has doubled this year, benefiting from Berkshire's purchases and rising oil prices, with a further boost from the Ukraine crisis. The purchases made on May 2…

Benzinga

Callon Petroleum: Q1 Earnings Insights

Callon Petroleum (NYSE:CPE) reported its Q1 earnings results on Wednesday, May 4, 2022 at 04:00 PM. Here's what investors need to know about the announcement. Earnings Callon Petroleum beat estimated earnings by 3.0%, reporting an EPS of $3.43 versus an estimate of $3.33.

Benzinga

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Death Cross Looms Over China Petroleum Investors

If history is any guide, there may be trouble ahead for shares of China Petroleum (NYSE:SNP). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.

Benzinga

Morocco, Nigeria Seeking Funding For Gas Pipeline To North Africa, Europe

Nigeria’s Minister of Petroleum Resources Timipre Sylva said Tuesday that his country and Morocco are still securing funds for a huge offshore pipeline project to transport Nigerian gas to North Africa and Europe. Four years ago, Morocco’s King Mohammed VI and Nigerian President Muhammadu Buhari agreed on the mega-project to…

Asharq Al-Awsat

Earnings Outlook For Laredo Petroleum

Laredo Petroleum (NYSE:LPI) is set to give its latest quarterly earnings report on Wednesday, 2022-05-04. Here's what investors need to know before the announcement. Analysts estimate that Laredo Petroleum will report an earnings per share (EPS) of $6.11.

Benzinga

Check Out What Whales Are Doing With OXY

Someone with a lot of money to spend has taken a bearish stance on Occidental Petroleum (NYSE:OXY). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga

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Earnings Outlook For Callon Petroleum

Callon Petroleum (NYSE:CPE) is set to give its latest quarterly earnings report on Wednesday, 2022-05-04. Here's what investors need to know before the announcement. Analysts estimate that Callon Petroleum will report an earnings per share (EPS) of $3.33.

Benzinga

Looking Into Marathon Petroleum's Recent Short Interest

Marathon Petroleum's (NYSE:MPC) short percent of float has fallen 16.08% since its last report. The company recently reported that it has 14.53 million shares sold short, which is 2.61% of all regular shares that are available for trading.

Benzinga

Recap: Marathon Petroleum Q1 Earnings

Marathon Petroleum (NYSE:MPC) reported its Q1 earnings results on Tuesday, May 3, 2022 at 06:05 AM. Here's what investors need to know about the announcement.

Benzinga

If You Invested $100 In Marathon Petroleum 10 Years Ago, Here's How Much You Would Have Today

Marathon Petroleum (NYSE:MPC) has outperformed the market over the past 10 years by 4.82% on an annualized basis producing an average annual return of 16.49%. Currently, Marathon Petroleum has a market capitalization of $49.56 billion.

Benzinga

Former petroleum secretary Tarun Kapoor appointed advisor to PM

Senior bureaucrats Hari Ranjan Rao and Atish Chandra have been appointed as additional secretaries in the PMO

The Hindu

Marathon Petroleum's Earnings Outlook

Marathon Petroleum (NYSE:MPC) is set to give its latest quarterly earnings report on Tuesday, 2022-05-03. Here's what investors need to know before the announcement. Analysts estimate that Marathon Petroleum will report an earnings per share (EPS) of $1.11.

Benzinga

Yechury terms LPG cylinder price hike 'attack on labour class, poor'

Communist Party of India (Marxist) General Secretary Sitaram Yechury on Sunday lashed out at the Centre over hike in petroleum prices and termed it an "attack on the labour class and poor" on the Labour Day. Full story

Dynamite News

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Asharq Al-Awsat

Lebanon: Concerns Rise of Total Darkness after the Polls

Warnings are growing in Lebanon that the country’s lingering electricity crisis could worsen after its parliamentary elections on May 15, amid fears of total darkness engulfing the nation in light of dysfunctional public services. Walid Fayyad, Lebanon’s Energy Minister declared that the completion of the contract to import gas from…

StockNews.com

2 Stocks to Buy as Gasoline Prices Keep Rising into the Summer

Despite declining oil prices and increased productivity, gas stations have managed to keep gas prices high--as is traditional. Furthermore, because seasonal gasoline demand is estimated to soar, we think it could be wise to bet on quality oil & gas industry stocks Marathon Petroleum (MPC) and Valero Energy (VLO). Let’s…

ABC News

Tamboran Resources facing hefty fine for failing to front Beetaloo Basin gas grants Senate inquiry

Sweetpea Petroleum, a company awarded $7.5 million of taxpayer money under a Coalition government program subsidising exploration wells in the Beetaloo Basin, could be found in contempt of the Senate for failing to appear at a federal Senate inquiry into the grants program.

The Independent UK

California subpoenas ExxonMobil in probe of plastics waste

California’s attorney general has subpoenaed ExxonMobil as part of what he called a first-of-its-kind broader investigation into the petroleum industry for its alleged role in causing a global plastic pollution crisis

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Benzinga

Occidental Petroleum Whale Trades For April 28

StockNews.com

Here's Why Warren Buffett Is So Bullish on Occidental Petroleum?

Revered investor Warren Buffett has a roughly 14% stake in Occidental Petroleum (OXY), one of the largest oil producers in the U.S. Buffett has been betting on OXY’s rapid growth and managerial efficiency of late. Furthermore, with a focus on sustainable production to reduce its carbon footprint, Buffett believes that…

The Hindu

‘Travesty of justice’: Former Petroleum Minister Moily on PM’s ‘reduce VAT’ on petrol, diesel remark

Mr. Moily said Prime Minister Modi should have addressed the issue of skyrocketing prices as the average consumer food price has increased by 100% between March 2021 and March 2022, according to numbers released by the NSO

The Hindu

Opposition irked by PM Modi’s VAT remark

Chief Ministers of States ruled by BJP rivals decry PM’s words, lay accounts on table

The Street

Marathon Petroleum Makes Barron's List of Oil Stocks

Oil companies are thriving, with crude prices soaring surging 34% so far this year. Earnings are scheduled for coming weeks.

The Hindu

PM Modi’s remarks on fuel prices one-sided, misleading: Mamata Banerjee

Centre adopts ‘step–motherly’ attitude towards the Opposition–ruled States, she says

Benzinga

Biden Administration Reverses Trump's Effort To Open More Land For Oil Drilling In Arctic: CNBC

The Biden administration reversed a Trump administration plan that allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling, writes CNBC. The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in…

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