Oil and Gas Energy Equipment and Services

  • BEIRUT, Aug 30- Iran plans to hold an oil and gas bidding round for foreign firms from late September, Ali Kardor, managing director of the National Iranian Oil Company, was quoted as saying by the oil ministry's news agency SHANA on Tuesday. The first tender, which is likely to be for the South Azadegan oil field in southwestern Iran, will take place between Oct. 14 and...

  • LOS ANGELES— A sulfur storage tank exploded Friday at the largest oil refinery in California, sending a chemical cloud into the air and causing a fire, authorities said. There was no immediate word on the cause of the blast at the Tesoro refinery in Wilmington near Long Beach. The Los Angeles County Fire Department sent in a hazardous materials team.

  • CARACAS/ HOUSTON, Aug 26- Venezuela's state oil company, PDVSA, has relaunched a large tender for the drilling of 600 oil wells in the world's largest crude reserves, sources with knowledge of the tender said this week, after a similar project collapsed last year amid concerns about transparency and political favoritism. Reuters reported last month that tiny...

  • Houston oilfield services company Baker Hughes Inc. said Friday that 406 rigs sought oil and 81 explored for natural gas this week. Colorado, Louisiana, Ohio, Texas and West Virginia each declined by one. Alaska, Arkansas, California, Kansas, New Mexico, North Dakota, Oklahoma and Utah were unchanged.

  • SINGAPORE, Aug 25- The collapse of an oil services company and the deterioration in the finances of some other energy firms have exposed structural cracks in the Singapore dollar corporate bond market. The shock is reflected in the absence of any Singapore dollar bond sales by high-yield borrowers since early June when property company GSH Corp did a S $60...

  • TEHRAN, Iran— An Iranian state-run daily is reporting that authorities in Tehran have detained a Greek national they accuse of embezzling money from smuggled oil and selling three oil tankers for $100 million. The report on Thursday in the IRAN newspaper suggests the Greek national was involved in smuggling Iranian crude oil while economic sanctions were...

  • OSLO, Aug 25- Norway- listed offshore driller Seadrill, once the crown jewel in the business empire of shipping tycoon John Fredriksen, said the oil industry may be turning a corner as it posted second-quarter earnings above forecasts on Thursday. Seadrill's earnings before interest, tax, depreciation and amortisation fell to $557 million in the second quarter,...

  • Houston oilfield services company Baker Hughes Inc. said Friday that 406 rigs sought oil and 83 explored for natural gas this week. Among major oil- and gas-producing states, Texas gained eight rigs, Pennsylvania was up two and Louisiana, Oklahoma and West Virginia added one each. Alaska, Arkansas, California, Colorado, Kansas, Ohio, Utah and Wyoming were unchanged.

  • Crude futures have surged nearly $10 a barrel, or almost 25 percent, in just over two weeks on speculation that Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries will agree next month to a production freeze deal with non- OPEC members led by Russia. Brent crude was down 22 cents, or 0.5 percent, to $50.67 per barrel by 12:06 p.m....

  • Crude futures have surged nearly $10 a barrel, or almost 25 percent, in just over two weeks on speculation that Saudi Arabia and other key members of the Organization of the Petroleum Exporting Countries will agree next month to a production freeze deal with non- OPEC members led by Russia. Brent crude was down 27 cents, or 0.5 percent, at $50.60 per barrel by...

  • International benchmark Brent futures were trading at $50.70 per barrel at 1128 GMT, down 19 cents from their last close. West Texas Intermediate crude futures were down 9 cents at $48.13 a barrel after reaching $48.75, their highest since July 5. Iraq has resumed pumping oil from fields operated by the state-run North Oil Company via a Kurdish pipeline to...

  • International benchmark Brent futures were trading at $50.50 per barrel at 0840 GMT, down 39 cents from their last close. West Texas Intermediate crude futures were down 20 cents at $48.02 a barrel after reaching $48.75, their highest since July 5. Iraq has resumed pumping oil from fields operated by the state-run North Oil Company via a Kurdish pipeline to...

  • HOUSTON, Aug 18- The first Suezmax crude oil tanker that was slated to go through the newly expanded Panama Canal began its transit on Thursday, a public relations official told Reuters. The Aegean Unity, a Greece- flagged Suezmax vessel coming from the U.S. West Coast, entered the Canal Thursday morning, according to Reuters' vessel tracking data.

  • LONDON, Aug 15- G4S, the world's largest security group, named Tim Weller as its new chief financial officer on Monday, poaching him from oilfield services company Petrofac where he held the same role. Weller, who has been on the board of G4S since 2013, will replace Himanshu Raja who is due to step down on Oct. 1, the British company said in a statement.

  • NEW YORK, Aug 12- Oil rose about 2 percent on Friday, clinching its biggest weekly gains since April, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market. U.S. crude settled up $1 at $44.49 after touching its highest level since July 22 at $44.60 per barrel.

  • NEW YORK, Aug 12- Oil prices were up about 1 percent on Friday, on track for their biggest weekly gains since May, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market. Brent crude futures were 56 cents higher at $46.60 at barrel by 1:16 p.m. ET after...

  • NEW YORK, Aug 12- Oil prices rose about 2 percent on Friday, on track for their biggest weekly gains since late April, amid a short covering rally triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market. Brent crude futures were 84 cents higher at $46.88 at barrel by 12:30 p.m. ET after...

  • *China crude oil production slips 8 pct to five-year low. Brent crude futures were 39 cents a barrel higher at $46.43 a barrel, a 0.9 percent gain, by 10:54 a.m. ET, up from a three-week high of $46.66 earlier in the day. West Texas Intermediate crude rose 50 cents to $43.99 after touching its highest level since July 25 at $44.17 per barrel.

  • LONDON, Aug 11- Libya's plans to increase oil output by five-fold by the end of the year will remain out of reach until the government allocates funds to repair the damage to oil infrastructure, the National Oil Corp's chief told Reuters. "If we receive around $1 billion, we can do a lot," Mustafa Sanalla said, adding that the corporation submitted its budget to the...

  • Brent crude futures were up 14 cents a barrel higher at $46.18 per barrel by 1319 GMT, from a three-week high of $46.66 earlier in the day. West Texas Intermediate crude stood at $43.72 a barrel, up 23 cents after touching its highest level since July 25, at $44.17 per barrel. Both price benchmarks rose more than 4 percent on Thursday after Saudi Arabia's energy...