Oil and Gas Energy Equipment and Services

  • Two former Weatherford senior accounting executives also agreed to settle charges that they were behind the scheme, which inflated the company's earnings more than $900 million over that period, the SEC said. Weatherford fraudulently lowered the year-end sum set aside for income taxes each year by $100 million to $154 million to "better align its earnings...

  • Two Weatherford senior accounting executives at the time also agreed to settle charges that they were behind the scheme, which inflated the company's earnings by over $900 million between 2007 and 2012, the SEC said. Weatherford fraudulently lowered the year-end sum it set aside for income taxes each year by $100 million to $154 million so that it "could...

  • Two Weatherford senior accounting executives at the time also agreed to settle charges that they were behind the scheme, the SEC said. Weatherford fraudulently lowered the year-end sum it set aside for income taxes each year by $100 million to $154 million so that it "could better align its earnings results with its earlier-announced projections and...

  • Sept 27- Oil services company Weatherford International LLC has agreed to a $140 million penalty to settle charges it inflated its earnings by using deceptive income tax accounting, the U.S. Securities and Exchange Commission said on Tuesday. Two Weatherford senior accounting executives at the time also agreed to settle charges that they were behind the...

  • WASHINGTON, Sept 27- Oil services company Weatherford International Plc agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting, the U.S. Securities and Exchange Commission said on Tuesday.

  • DETROIT— DTE Energy Co. plans to spend $1.3 billion for natural gas assets in Pennsylvania and West Virginia. The Detroit- based company announced Monday that an agreement calls for DTE to purchase all of Appalachia Gathering System in Pennsylvania and West Virginia and 40 percent of Stonewall Gas Gathering in West Virginia from energy company M3 Midstream.

  • Houston oilfield services company Baker Hughes Inc. said Friday that 418 rigs sought oil and 92 explored for natural gas this week. Among major oil- and gas-producing states, Texas and Oklahoma each gained two rigs and Alaska, California, North Dakota and Pennsylvania each was up one. Arkansas, Colorado, Kansas, Ohio, Utah and Wyoming were unchanged.

  • Wall Street banks have sharply reduced their involvement in physical commodities in recent years, under pressure from regulators and lawmakers. The biggest players in the field have been Goldman Sachs and Morgan Stanley. Also, critics of Wall Street say that owning and storing commodities like aluminum in warehouses or oil in storage tankers enables banks...

  • CARACAS, Sept 23- Venezuela's state oil company Petróleos de Venezuela said on Friday oil service companies that won $3.2 billion in contracts to drill wells in the crude-rich Orinoco Belt would supply $700 million in financing for the projects. Horizontal Well Drillers has a 48- month credit line from Canada's Callidus Capital for $350 million to finance...

  • The railroad Tuesday will send two loaded 40- foot LNG containers from Anchorage to Fairbanks as part of a demonstration. It will also depend on whether Fairbanks Natural Gas LLC, a company providing Cook Inlet natural gas to about 1,000 customers in Fairbanks, will want to use the railroad as a shipper. Expansion of natural gas use is a longtime hope of Fairbanks...

  • CARACAS/ HOUSTON, Sept 21- Venezuela's state oil company PDVSA said on Wednesday it has awarded $3.2 billion in contracts to drill wells in the Orinoco Belt, although some foreign partners are uncomfortable with the rushed tender and structural problems that could hinder the projects, according to sources close to the matter. The major projects are designed to...

  • *Norway oil worker strike risks hit to output. LONDON, Sept 21- Oil prices jumped 2 percent on Wednesday after a surprisingly large drop in U.S. crude inventories and as an oil services workers strike in Norway threatened to cut North Sea output. Brent crude futures were up 91 cents at $46.79 per barrel by 1113 GMT, while West Texas Intermediate crude futures rose by...

  • *Norway oil worker strike risks hit to output. LONDON, Sept 21- Oil prices jumped 2 percent on Wednesday after a surprisingly large drop in U.S. crude inventories and as an oil services workers strike in Norway threatened to cut North Sea output. Brent crude futures were up 90 cents at $46.78 per barrel by 0955 GMT, while West Texas Intermediate crude futures climbed...

  • *Norway oil worker strike risks hit to output. SINGAPORE, Sept 21- Oil prices jumped over 1 percent on Wednesday, pushed by a reported draw in U.S. crude inventories and an oil service worker strike in Norway which may impact output. West Texas Intermediate crude futures were up 1.93 percent, or 85 cents, at $44.90 a barrel at 0644 GMT.

  • *Norway oil worker strike hits output. SINGAPORE, Sept 21- Oil prices jumped over 1 percent on Wednesday, pushed by a reported draw in U.S. crude inventories and an oil service worker strike in Norway which hit output. West Texas Intermediate crude futures were up 1.93 percent, or 85 cents, at $44.90 a barrel at 0644 GMT.

  • Sept 19- More wells passed safety inspections at the Aliso Canyon natural gas storage facility in Los Angeles, Southern California Gas Co said on Monday, but the company has more work to do before it can inject gas into the giant field the utility shut last fall due to a massive methane leak that was not plugged until February. Under state law, SoCalGas cannot inject...

  • *India tops China as No.1 Iran crude buyer with record volume. SINGAPORE/ TOKYO, Sept 16- Iran's August crude oil exports jumped 15 percent from July to more than 2 million barrels per day, according to a source with knowledge of its tanker loading schedule, closing in on Tehran's pre-sanctions shipment levels of five years ago. The strong demand for Iran's crude in...

  • LONDON, Sept 14- Authorities in a port controlled by Yemen's Houthi movement have seized two oil tankers from international traders in a payment dispute, according to the ships' owners, an incident which could make it more difficult for the country to import vital supplies. Ocean Tankers, the Singapore- based owner of the two 74,000 tonne ships, the Chao Hu and the...

  • LONDON, Sept 14- Authorities in a port controlled by Yemen's Houthi movement have seized two oil tankers from international traders in a payment dispute, according to the ships' owners, an incident which could make it more difficult for the country to import vital supplies. Ocean Tankers, the Singapore- based owner of the two 74,000 tonne ships, the Chao Hu and the...

  • SPRING, Texas, Sept 12- Elizabeth Huber lost her job examining damaged oilfield pipes nearly 20 months ago and her prospects remain bleak even as oil executives cautiously plot production and budget increases. Despite crude trading 76 percent above its February lows and energy companies shifting focus from survival to recovery, white-collar jobs in the...