Except the strategic petroleum reserve doesn’t contain cash. The reserve can hold more than 700 million barrels of oil. Right now, it has more than half of that. The reserve, which former President Gerald Ford established in 1975, is spread across four sites in Texas and Louisiana.

The new Petroleum and Petrochemical Law, approved by the Council of Ministers on Jan. 7, requires obtaining a license to practice any petroleum or petrochemical operations. It is also mandatory to obtain prior approval from the Ministry of Energy before issuing any licenses or approvals necessary to establish any petrochemical facility.

Markets are being sent lower as traders wait to see the impact of Trump's pro-energy policies. The newly inaugurated president has signed executive orders aimed at boosting U.S. production and has called on OPEC members to increase output to send prices lower.

India's Bharat Petroleum Corp (BPCL) plans to invest $121 million to develop the Nunukan oil and gas block in Indonesia, the company said in a exchange filing on Wednesday. BPCL's exploration unit, Bharat PetroResources,

When you’re the largest producer of petroleum in the world and you increase your production, prices might drop along with profits. That's bad for investors.

In case there was any doubt, President Donald Trump made it clear in his inauguration speech that during his second term "we will drill, baby, drill."

Egyptian President Abdel Fattah al-Sisi said on Wednesday that the state needs $20 billion annually to secure petroleum products, according to a video provided by Sisi's office.

Occidental Petroleum is poised for long-term growth and potential outperformance in 2025 due to stricter oil sanctions. Read more on OXY stock here.

The US Strategic Petroleum Reserve (SPR) is a stockpile of crude owned by the US government. It provides a back-up supply of crude oil if the commercial oil supply is disrupted.

The official Umm Al-Qura newspaper published on Friday the details of the new Petroleum and Petrochemical Law, which was recently approved by the Cabi

Houston-based startup Panthers Petroleum acquired 23 gas stations with convenience stores in 2024 and plans to grow to over 50 locations, the retailer told CSP.

Marathon Petroleum (MPC) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock. NORTHAMPTON, MA / ACCESS Newswire / January 21 ...