GO
Loading...

Enter multiple symbols separated by commas

Oil and Gas Energy Equipment and Services

More

  • LONDON/ SINGAPORE, Aug 4- Oil prices are unlikely to recover soon as Saudi Arabia's drive to boost its refining activities is expected to force refineries elsewhere to slow down their operations, thus creating an even bigger glut of unwanted crude oil. Two big new refineries in Saudi Arabia are adding to growing supplies of diesel and jet fuel, which could mean...

  • LONDON, Aug 3- The biggest losers from the current price war between OPEC and the shale producers seem set to be producers outside the Middle East and North America caught in the cross-fire. Expensive production from the North Sea, Canada's oil sands, offshore megaprojects, weaker African and Latin American members of OPEC, and frontier exploration areas around...

  • NEW YORK, Aug 2- Oilfield services provider Halliburton Co announced in a statement on Sunday it had received a request from the European Commission for additional information about its proposed $35 billion merger with rival Baker Hughes Inc.. Halliburton's statement said the European regulators' request came as a response to a standard notification form...

  • *OPEC oil production up 140,000 bpd in July- Reuters survey. LONDON, July 31- Oil prices steadied on Friday as a sharp fall in the dollar balanced evidence of growing oversupply, with core OPEC producers pumping near record levels. Brent crude oil was down 25 cents at $53.06 a barrel by 1350 GMT.

  • COLUMN-U.S. oil storage becomes big business: Kemp Thursday, 30 Jul 2015 | 11:07 AM ET

    LONDON, July 30- Commercial crude stocks across the United States rose by 105 million barrels early this year to peak at 490 million barrels, the highest level in eight decades. Working storage capacity at refineries, tank farms and underground storage facilities in the United States has increased by 85 million barrels, almost 19 percent, since 2011..

  • *ABN AMRO cuts 2016 crude price forecasts. U.S. crude stockpiles fell by 4.2 million barrels in the week to July 24, more than 20 times analysts' expectations of a decrease of 184,000 barrels, Energy Information Administration data showed on Wednesday. Brent crude was up 20 cents a barrel at $53.58 by 1345 GMT, after settling 8 cents higher in the previous session.

  • UPDATE 5-Oil rises after U.S. crude stocks draw Thursday, 30 Jul 2015 | 6:36 AM ET

    *ABN AMRO cuts 2016 crude price forecasts. Benchmark Brent crude was up 80 cents a barrel at $54.18 by 1025 GMT, after settling 8 cents higher in the previous session. U.S. crude rose 30 cents to $49.09, after ending the previous session up 81 cents, or 1.7 percent.

  • *ABN AMRO cuts 2016 crude price forecasts. Benchmark Brent crude oil was up 30 cents a barrel at $53.68 by 0805 GMT, after settling 8 cents higher in the previous session. "Oil is consolidating," said Carsten Fritsch, senior oil analyst at Commerzbank.

  • OSLO, July 29- Norwegian oil services firm Subsea 7 reported a smaller-than-expected fall in second-quarter earnings on Wednesday and said it would cut costs by up to $550 million by early next year as it whittles down its fleet and reduces staff. Subsea 7, which focuses on the North Sea but has a global operation, will also cut its fleet by 12 vessels from 39. It...

  • July 28- National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, reported a higher-than-expected quarterly profit as cost cuts helped offset the impact of a fall in global drilling activity. Expenses fell more than 18 percent to $417 million in the second quarter ended June 30 from a year earlier, the company said. Net income attributable to the...

  • National Oilwell profit drops 53 pct on weak demand Tuesday, 28 Jul 2015 | 7:08 AM ET

    July 28- National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, reported a 53 percent fall in quarterly profit as a steep decline in commodity prices weighed on demand and prices for its products. Net income attributable to the company fell to $289 million, or 74 cents per share, in the second quarter ended June 30, from $619 million, or $1.44 per...

  • Schlumberger Ltd, the world's No. 1 oilfield services provider said last week it believed the North American rig count may be bottoming and that a slow rise in both land drilling and completion activity could occur in the second half of the year. Schlumberger and rival Halliburton have slashed their capital expenditure budgets for this year.

  • U.S. crude for September delivery was down 14 cents at $48 as of 0024 GMT, after closing the previous session down 31 cents at $48.14, its lowest settlement since March 31 and down 5.5 percent on the week. Brent crude futures for September delivery fell 4 cent to $54.58 after ending the previous session 65 cents down, the lowest close since March 19 and a drop of 4.3...

  • *Drillers add 21 oil rigs in U.S. this week- Baker Hughes. NEW YORK, July 24- Brent and U.S. crude futures settled on Friday at their lowest since March and posted their fourth straight weekly decline as weak economic data from China and a rise in U.S. oil drilling rigs applied pressure. U.S. energy firms added 21 oil rigs this week after pulling seven rigs last week, oil...

  • OIL DRILLERS ADD RIGS THIS WEEK DESPITE CRUDE PRICE COLLAPSE- BAKER HUGHES.

  • July 23- Hercules Offshore Inc, stung by slumping demand for drilling services in older Gulf of Mexico oilfields, said on Thursday it plans to file for creditor protection in about three weeks and emerge several months later with a restructured balance sheet. The company's balance sheet lists $266 million in current assets and $1.35 billion in current...

  • Land driller Patterson-UTI swings to quarterly loss Thursday, 23 Jul 2015 | 6:08 AM ET

    July 23- Land rig provider Patterson-UTI Energy Inc swung to a quarterly loss as oil and gas producers cut back on drilling amid a steep drop in crude prices. The company reported a net loss of about $19 million, or 13 cents per share, in the second quarter ended June 30, compared with a profit of $54.3 million, or 37 cents per share, a year earlier. Revenue fell nearly 38...

  • July 21- Oilfield services provider Baker Hughes Inc, which is being acquired by larger rival Halliburton Inc, said it expects unfavorable market conditions to persist for the rest of the year. "In North America, we don't anticipate activity to increase while commodity prices remain depressed," Baker Hughes Chief Executive Martin Craighead said in a statement...

  • July 21- Oilfield services provider Baker Hughes Inc, which is being acquired by larger rival Halliburton Inc, posted a quarterly loss, compared with a year-ago profit, as a steep drop in oil prices kept a lid on drilling activity. Net loss attributable to Baker Hughes was $188 million, or 43 cents per share, in the second quarter ended June 30, compared with a profit of...

  • *U.S. crude futures drop below $50 intraday. NEW YORK, July 20- Oil futures fell on Monday and U.S. crude slipped below $50 a barrel intraday as ample supply, the prospect of more Iranian crude for export and a strengthening dollar combined to pressure prices. August crude, set to expire on Tuesday, fell 74 cents to settle at $50.15, having fallen to $49.85, its first time...