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Oil and Gas Energy Equipment and Services

  • HOUSTON— The number of rigs exploring for oil and natural gas in the U.S. rose by seven this week to 908.. Colorado added five rigs while Alaska, New Mexico, North Dakota and Oklahoma each gained one. Arkansas, California, Kansas, Louisiana, Ohio, Pennsylvania, Utah, West Virginia and Wyoming were all unchanged.

  • NEW YORK, May 25- Oil traders and analysts are expecting large volumes of crude to draw from storage tanks across the United States in coming weeks, in what would be the most tangible sign of an inventory overhang reduction that has punished prices over the last two years. Supplies have remained stubbornly high for months, disappointing traders who were...

  • HOUSTON, May 25- U.S. oil services companies have been doing a lot more work as recovering oil prices have lifted the shale industry from a two-year slump, but producers have been pocketing much of the new cash generated by rising output and squeezing service providers to keep costs down. Law firm Haynes and Boone LLP said the U.S. oilfield sector experienced 127...

  • LONDON, May 25- U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018.. Freight movements hit a new record in February, before slipping slightly in March, according to the U.S. Bureau of Transportation Statistics. The ratio of business inventories to sales climbed from 1.28 in January...

  • May 25- Oilfield services provider Petrofac has suspended its chief operating officer in response to the UK Serious Fraud Office's investigation into Monaco- based Unaoil, another setback for the company that has been hit by the oil market downturn. Petrofac's shares slumped as much as 29 percent, wiping more than half a billion pounds off its market...

  • QUITO, May 23- Ecuador's leftist president-elect Lenin Moreno on Tuesday said he would name economics professor Carlos de la Torre as finance minister and former international oil executive Carlos Perez as oil minister. Moreno, 64, also appointed ex-officials from outgoing President Rafael Correa's government. Moreno's main challenge will be to solve the...

  • BISMARCK, N.D.— The Dakota Access pipeline and a feeder line leaked more than 100 gallons of oil in North Dakota in separate incidents in March as crews prepared the disputed $3.8 billion pipeline for operation. Two barrels, or 84 gallons, spilled due to a leaky flange at a pipeline terminal in Watford City on March 3, according to the state's Health Department.

  • BEIJING, May 22- China will eventually allow private companies to invest in the country's oil and gas storage, the government said in a blueprint document for its energy sector that mainly underscored earlier pledges on reforming heavily monopolized oil and gas industries. "We are expecting specific measures to follow after the State Council releases this...

  • Louisiana, Pennsylvania and Wyoming each gained two, while New Mexico and Ohio each added one. Colorado declined by two rigs and Alaska lost one. Arkansas, California, Kansas, North Dakota, Utah and West Virginia were unchanged.

  • NEW YORK/ LONDON/ SINGAPORE May 19- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. The stalled drawdowns shed light on the broader challenge facing OPEC- the Organization of the Petroleum Exporting Countries- as it struggles to...

  • NEW YORK/ LONDON/ SINGAPORE May 19- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. The stalled drawdowns shed light on the broader challenge facing OPEC- the Organization of the Petroleum Exporting Countries- as it struggles to...

  • HOUSTON/ NEW YORK, May 17- Oil tankers carrying roughly 2.5 million barrels of U.S. crude are currently en route to Asia, trade sources said on Wednesday, as U.S. producers take advantage of favorable prices to ship to Asia while OPEC ponders further supply cuts next week. But relatively cheap U.S. crude has buoyed exports to Asia. Traders expect that May U.S. crude...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to scepticism about the effectiveness of the organisation's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to skepticism about the effectiveness of the organization's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • HOUSTON/ NEW YORK, May 17- Oil tankers carrying roughly 2.5 million barrels of U.S. crude are currently en route to Asia, trade sources said on Wednesday, as U.S. producers take advantage of favorable prices to ship to Asia while OPEC ponders further supply cuts next week. But relatively cheap U.S. crude has buoyed exports to Asia. Traders expect that May U.S. crude...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to scepticism about the effectiveness of the organisation's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to skepticism about the effectiveness of the organization's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • DENVER— The company that owns a gas well linked to a fatal home explosion in Colorado said Tuesday it will permanently disconnect other pipelines in the area like the one blamed in the explosion. Anadarko Petroleum, which owns the well, did not say how many pipelines would be disconnected. But the company has said it operates more than 3,000 similar wells in...

  • CNBC Disruptors Phononic

    Phononic has developed an energy-saving alternative to the heat guzzling compressors that power traditional refrigerators.

  • BEIJING, May 15- Global oil inventories in floating storage have declined by one-third since the start of the year, a source from the Organization of the Petroleum Exporting Countries told Reuters on Monday.