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Oil and Gas Energy Equipment and Services

  • Offshore oil rig

    A move by London-based Subsea 7 to take a stake in Singapore's EMAS Chiyoda Subsea may provide a lifeline to the heavily-indebted oil and gas services firm.

  • NEW YORK, May 8- The energy industry scrutinizes U.S. oil stockpile data every week for evidence that OPEC supply cuts are ending a global crude glut, but growing domestic output means the world's largest oil consumer may be the last place to feel the cuts. Stubbornly high U.S. inventory levels have shaken market confidence that a deal by the Organization of the...

  • NEW YORK, May 8- The energy industry scrutinizes U.S. oil stockpile data every week for evidence that OPEC supply cuts are ending a global crude glut, but growing domestic output means the world's largest oil consumer may be the last place to feel the cuts. Stubbornly high U.S. inventory levels have shaken market confidence that a deal by the Organization of the...

  • SINGAPORE, May 8- Oil prices rose on Monday as Saudi Arabia's energy minister said an OPEC- led production cut scheduled to end in June would likely be extended to cover all of 2017, although a relentless increase in U.S. drilling capped gains. Saudi Arabia's energy minister Khalid Al-Falih said on Monday oil markets were rebalancing after years of oversupply,...

  • HOUSTON, May 4- The oil industry's top equipment and services suppliers this week are hawking vastly cheaper ways of designing and equipping subsea wells, aiming to slash the cost of offshore projects to compete with the faster-moving shale industry. Gulf of Mexico, for instance, but production volumes there have remained strong due to the long lead times of...

  • HOUSTON, May 3- Tallgrass Energy Partners on Wednesday said it had identified 42 potential acquisitions or new projects totaling more than $6.1 billion in investment that could fuel the midstream operator's growth. On Wednesday, rival Magellan Midstream Partners said it was evaluating a new pipeline to transport crude and condensate from the Permian Basin...

  • DUBAI, May 3- Iraqi fuel oil exports have soared since January despite a reduction in the country's crude production in line with OPEC supply cuts, industry sources said, in what could be a way to boost output of refined products and maintain oil revenues. Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in 2016, data collected by...

  • DUBAI, May 3- Iraqi fuel oil exports have soared since January despite a reduction in the country's crude production in line with OPEC supply cuts, industry sources said, in what could be a way to boost output of refined products and maintain oil revenues. Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in 2016, data collected by...

  • LONDON, May 2- U.S. crude production is surging, complicating OPECs efforts to rebalance the oil market. U.S. production rose by more than 450,000 barrels per day in the five months ending in February, according to the U.S. Energy Information Administration. Most of the increase so far has come from non-shale producers in the Gulf of Mexico and Alaska.

  • LONDON, May 2- U.S. crude production is surging, complicating OPECs efforts to rebalance the oil market. U.S. production rose by more than 450,000 barrels per day in the five months ending in February, according to the U.S. Energy Information Administration. Most of the increase so far has come from non-shale producers in the Gulf of Mexico and Alaska.

  • WASHINGTON, May 1- The U.S. Supreme Court on Monday tossed out a lower court's ruling that had allowed an American oil drilling company to sue Venezuela over the seizure of 11 drilling rigs in 2010 but allowed the business another chance to press its claims. Siding with Venezuela, the justices ruled 8-0 that a lower court that had given the go-ahead for the suit must...

  • Siding with Venezuela, the justices ruled 8-0, with Justice Neil Gorsuch not participating, to throw out a 2015 decision by the U.S. Court of Appeals for the District of Columbia Circuit that allowed one of the claims made by Oklahoma-based Helmerich& Payne International Drilling Company to move forward.

  • *Pembina to pay as much as C $1.52 bln in cash, 99.5 mln in shares. *To pay either 0.4287 of a Pembina share or C $18.65 in cash. After the deal with Veresen, Pembina will own about 5.8 billion cubic feet per day of gas processing infrastructure across Western Canada by 2018..

  • Income from the company's midstream business rose 63.5 percent to $309 million in the first quarter ended March 31. Operating loss in its refining and marketing segment narrowed as margins rose 18 percent to $11.65 per barrel. Midwest, Southeast and Gulf Coast, processed less crude oil due to higher turnaround activity, or scheduled events where an entire unit...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- Mercuria Energy Trading S.A. has shipped the first ever reported export of Bakken crude oil to Asia, according to a shipping document seen by Reuters on Wednesday, the latest shift in global oil flows as the United States seeks to draw down its bloated inventories. The Swiss-based energy trader loaded more than 600,000 barrels of Bakken crude, as...

  • *Expects continued activity reduction in Gulf of Mexico. April 25- Baker Hughes Inc said on Tuesday it expects revenue from North America to rise in the current quarter from the first as oil producers drill more onshore wells, helping the oilfield service provider make up for a fall in demand in the Gulf of Mexico. "Activity growth in the U.S. onshore well...

  • The oilfield services provider on Tuesday reported a bigger-than-expected loss and said growth in its well construction business onshore North America was more than offset by increased competition for pressure pumping services and reduced customer spending in the Gulf of Mexico. The Houston, Texas- based company, which is being acquired by General...