Oil and Gas Energy Equipment and Services

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  • May 18- The operator of the California power grid. said on Wednesday that natural gas shortages related to a. leak at the giant Aliso Canyon storage facility will threaten electric reliability in the southern part of the state this summer.

  • SYDNEY, May 16- Monaco- based oil services company Unaoil denied on Monday a media report linking it to corrupt practices involving big oil companies said it has been the victim of an extortion attempt by unidentified criminals. The Australian newspaper group Fairfax Media and the Huffington Post said in a joint report in April that the U.S. Department of...

  • NEW YORK/ LONDON, May 16- Libya will resume oil shipments from the port of Marsa El Hariga after an agreement was reached at talks in Vienna between rival oil officials representing the east and west of the country, Libyan oil sources told Reuters. The NOC in Tripoli, which is keen to work with a new U.N.-backed unity government to revive Libya's oil production, said...

  • SYDNEY, May 16- Monaco- based oil services company Unaoil denied on Monday a media report linking it to corrupt practices involving big oil companies said it has been the victim of an extortion attempt by unidentified criminals. The Australian newspaper group Fairfax Media and the Huffington Post said in a joint report in April that the U.S. Department of...

  • *Nigeria oil production halved to 1.65 mln bpd. *OPEC output rises in April to highest since at least 2008. NEW YORK, May 13- Oil slipped on Friday on a stronger dollar and as investors cashed in on a three-day rally, but prices still ended the week higher after production in Nigeria fell to its lowest in two decades and wildfires slashed output from Canada's oil sands.

  • *Iraq asked oil firms to make drastic spending cuts. *Some companies said to consider halting Iraq operations. BAGHDAD, May 13- International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year, a senior Iraqi oil official said on Friday.

  • LONDON/ SINGAPORE, May 12- Five oil product traders have resigned from Noble Group, Asia's biggest commodity trader by revenue, some of whom are moving to rival trader Glencore, sources with knowledge of the issue said. Three of Noble's London- based gasoline traders are joining Glencore, according to the sources. Noble had also subleased storage tanks in the key...

  • NEW YORK/ HOUSTON May 11- U.S. Midwest refiners are rushing to secure alternatives for crude supply as they worry about prolonged outages after a raging wildfire in Canada shut nearly half of production capacity from the vast oil sands. They pointed to record crude stocks at the U.S. hub of Cushing, Oklahoma, swelling domestic supplies as well as growing imports...

  • *Oscar Spieler to replace Gary Smith as CEO. May 10- Golar LNG Ltd said former Chief Executive Oscar Spieler would return to the top job as the natural gas shipping company pushes deeper into the Brazilian power generation market to cope with weakness in freight rates. Spieler, who led the company between July 2009 and June 2011, will replace Gary Smith, who is...

  • May 10- Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive as the natural gas shipping company pushes deeper into the Brazilian power generation market in a bid to diversify operations amid weak freight rates. Weak demand for LNG from key markets such as South Korea and Japan, coupled with growing supply of tankers, has hurt rates for...

  • May 10- Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive, as the natural gas shipping company realigns operations, including building up its presence in the Brazilian power generation market. The company said on Tuesday it was in talks with a private equity firm for investments in Golar Power, its unit that holds an interest in a 1.5...

  • SINGAPORE, May 10- Oil prices fell early on Tuesday as Canadian wildfires that have knocked out over 1 million barrels worth of daily crude capacity moved away from production facilities, while brimming inventories and a strong U.S. dollar weighed on markets. U.S. crude futures were trading at $43.09 per barrel at 0040 GMT, down 35 cents from their last settlement.

  • LONDON, May 9- A growing overhang of gasoline and diesel fuelled a sharp sell-off in oil futures on Monday that reversed a recent rally over the wildfires in the heart of Canada's oil sands region, traders and analysts said. While crude oil supplies have significantly tightened in recent weeks due to outages linked to unrest in Libya, militant attacks in Nigeria,...

  • NEW YORK/ CONKLIN, Alberta, May 8- The mass evacuation of residents from the wildfire-devastated Canadian oil town of Fort McMurray is likely to significantly delay the restart of production, even though energy facilities themselves have escaped major damage from the flames. Energy facilities were barely touched through the first week of Alberta's...

  • May 6- U.S. oil drillers cut rigs for a seventh week in a row to the lowest level since October 2009, oil services company Baker Hughes Inc said Friday, although as analysts see an end to the nearly two-year slump in drilling for new wells. RIG-OL-USA- BHI> In 2015, drillers cut on average 18 oil rigs per week for a total of 963 for the year, the biggest annual decline since...

  • NEW YORK, May 6- For the past year and a half, a chart of the number of U.S. oil rigs in operation has resembled a death-defying ski slope- but it may be time to get back on the chair lift. The number of active oil rigs in the U.S. has fallen for six weeks, and was at a seven-year low as of April 29, according to data from oil service company Baker Hughes. Some believe the rig count...

  • HOUSTON, May 5- Apache Corp's cost savings in the first three months of 2016 exceeded its own expectations and are likely to continue even if oilfield services costs rise, executives of the Houston- based oil and gas producer said on Thursday. The cost cuts mean the company could achieve its goal of cash flow neutrality for 2016 with oil prices at $35 per barrel and...

  • The company's net income attributable to controlling interest was $249 million, or 68 cents per share, in the first quarter ended March 31, compared with a loss of $483 million, or $1.33 per share, a year earlier. Excluding items, the company earned 69 cents per share. Revenue fell 34.4 percent to $1.34 billion.

  • But, the company's shares were down 3.6 percent at $40.53, amid a broader decline in energy stocks. "We are going to invest in those product lines where we're a little bit weak, and we'll look at selective acquisitions to round them out," Halliburton Chief Executive Dave Lesar said on a post-earnings conference call. Halliburton's deal for Baker Hughes, valued at $35...

  • CARACAS/ HOUSTON, May 3- Venezuelan state oil firm PDVSA has issued at least $310 million in debt to companies including General Electric Co as it negotiates private issuances to pay off its suppliers, industry sources told Reuters, stretching the finances of a company that bondholders already worry is on its way to default. The securities are not bonds but offer...