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Oil and Gas Energy Equipment and Services

  • PARIS, April 12- France could face a tight gas supply in the 2017/ 18 winter period because suppliers do not have enough reserve storage capacity as required by law to meet demand if there is a prolonged cold snap, said major gas storage company Storengy. France had to depend heavily on those storages in the past 2016/ 17 winter to keep heating and power generation...

  • *Comes as other Singapore- listed firms grapple with debt. SINGAPORE, April 12- Rickmers Maritime, a Singapore- listed trust that operates container ships, said it would be wound up as it has been unable to reach an agreement with its lenders to restructure debt or raise new equity. Struggling in the wake of a global shipping downturn, Rickmers joins other Singapore-...

  • LONDON, April 11- OPEC appears to be slowly winning the battle against a global overhang of crude and oil products as inventories in onshore and floating storage decline. The Organization of the Petroleum Exporting Countries explicitly said a joint deal with non- OPEC producers to cut some 1.8 million bpd in the first half of 2017 was aimed at slashing an excess...

  • *Goldman Sachs sees large oil surplus in two years. LONDON, April 10- The shale oil boom has transformed the U.S. and global energy sector to such an extent that it has upended traditional supply dynamics and made forecasts far more polarized. Yet Goldman Sachs, the only bank to make more than $1 billion a year from commodities trading, believes a looming recovery in...

  • *OPEC trying to help market rebalance, ease oversupply. LONDON, April 6- The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses that profited from oversupply. The five top traders, who also include Mercuria and Trafigura, expect OPEC to extend output cuts into the...

  • LONDON, April 5- European shares gained slightly on Wednesday as higher oil prices and deals boosted energy stocks, with investors cheering improved synergies from an oil services takeover. The pan-European STOXX 600 index was up 0.1 percent by 0720 GMT. Oil& gas stocks were the second best sectoral gainers, up 1 percent, while basic resources gained 1.3 percent.

  • *Shipping data shows fall in tanker supplies as OPEC cuts. Prices for front-month Brent crude futures, the international benchmark for oil, were at $54.40 per barrel at 0345 GMT, up 23 cents, or 0.4 percent, from their last close. In the United States, West Texas Intermediate crude futures were up 27 cents, or 0.5 percent, at $51.30 a barrel.

  • Prices for front-month Brent crude futures, the international benchmark for oil, were at $54.28 per barrel at 0149 GMT, up 11 cents from their last close. In the United States, West Texas Intermediate crude futures were up 16 cents at $51.19 a barrel. "We have seen a significant reduction in global oil supply since January, with oil on water going from 978 million...

  • HOUSTON, April 4- Plains All American Pipeline and Magellan Midstream Partners filed an amended breach of contract lawsuit seeking more than $300 million in damages from Stampede Energy over an oil transport deal, according to court documents. Stampede, a privately held midstream operator, failed to meet its minimum volume requirements on the BridgeTex...

  • CHIBA, Japan, April 4- Inpex Corp's $37 billion Ichthys Australian liquefied natural gas project will start shipping ultra-light crude known as condensate by end-2017 and LNG shipments next year, one of the partners in the development told Reuters on Tuesday. The comments from Total Chairman and CEO Patrick Pouyanne suggest further slippage in a project that...

  • RIO DE JANEIRO, April 4- In September, police investigating a wave of killings in the northern Rio de Janeiro suburbs followed a tip to the isolated scrubland near the massive Duque de Caxias oil refinery. The discovery highlighted a fast-growing criminal enterprise in Brazil's oil heartland, between Rio de Janeiro and Sao Paulo. The racket is part of a larger...

  • SAO PAULO, March 31- Odebrecht Ôleo& Gás SA, the offshore oil drilling company owned by Brazil's Odebrecht SA, has won temporary relief from investors despite pledging to honor interest payments on a bond a week after deadline. In a Friday statement, the company known as OOG said investors would receive on April 7 an interest payment on the company's 6.75 percent...

  • SAO PAULO, March 31- Odebrecht Ôleo& Gás SA, the offshore oil drilling company owned by Brazil's Odebrecht SA, has won a temporary relief from a relevant group of bondholders that will help it pay for operational and capital expenses, signaling progress in talks aimed at restructuring $5 billion in debt. In a Friday statement, the company known as OOG said...

  • LONDON, March 31- Swiss-based trading and mining giant Glencore is selling a bundle of its global oil storage stakes, sources told Reuters, following similar moves by rivals as a boom period for storage shows signs of nearing to an end. As the Organization of the Petroleum Exporting Countries decided to cut oil output at the end of 2016 to prop up prices and help...

  • LONDON, March 31- Swiss-based commodities trading and mining giant Glencore is in advanced talks to sell a bundle of its global oil storage stakes, sources familiar with the matter said, following a boom period for storage companies. If the sale reaches completion, Glencore will likely end up with minority stakes in the assets. The portfolio includes assets in...

  • March 28- International offshore driller Ocean RIG UDW Inc filed for Chapter 15 bankruptcy protection in a U.S. court late Monday, hit by cancellations as major oil producing customers withdrew from deep water projects amid falling oil prices. The Cayman Islands holding company, which spent heavily on new drill ships earlier in the decade, said lower oil prices...

  • SAO PAULO, March 27- Vale SA surprised investors with the appointment of Fabio Schvartsman as chief executive officer on Monday, choosing a commodities industry veteran to lead transformation of the world's No. 1 ore producer into a company with dispersed share ownership. Schvartsman, who has been the CEO of Klabin SA, Brazil's largest paper and cardboard...

  • Will the Keystone Pipeline further depress oil prices?

    CNBC's Jackie DeAngelis reports from Nebraska about President Trump's approval for the Keystone XL Pipeline and how it will affect oil prices.

  • March 24- Schlumberger NV said on Friday it would form a joint venture with Weatherford International Plc to deliver oilfield products and services for unconventional resource plays in the United States and Canada. The oilfield equipment maker will get a one-time $535 million cash payment from Schlumberger, the companies said in a joint statement.

  • March 24- Halliburton Co, the world's No. 2 oilfield services provider, warned that its first-quarter profit would likely miss analysts' expectations due to higher costs and weak demand in markets outside North America. Shares of the company, which forecast higher revenue from its U.S. land operations, were up about 1 percent in early trading on the New York Stock...