Oil and Gas Energy Equipment and Services

More

  • *OPEC, Russia output freeze may be' meaningless'- IEA. LONDON, March 24- Oil fell below $40 a barrel on Thursday, heading for the biggest weekly slide in two months, dented by record-high stockpiles in the United States and a stronger dollar. The continued rise in stockpiles to record levels has reversed a sharp rebound in prices driven by plans among major producers,...

  • TOKYO, March 24- U.S. oil prices fell in Asian trading on Thursday, adding to a slump in the previous session, after stockpiles rose for the sixth week to another record, sapping the strength of a two-month rally in prices. U.S. crude futures were down 10 cents at $39.69 a barrel at 0302 GMT, trading further below the important $40 level. "OPEC production is still high and...

  • TOKYO, March 24- Oil prices dropped in early Asian trading on Thursday, adding to a slump in the previous session after U.S. stockpiles rose for a sixth week to another record, sapping the strength of a two-month rally in prices. U.S. crude futures were down 23 cents at $39.56 a barrel at 0047 GMT, trading further below the important $40 level. They closed down $1.66, or 4...

  • NEW YORK, March 23- Oil prices fell more than 2 percent on Wednesday as traders awaited U.S. government data on crude inventories after a preliminary report from an industry group showed a higher-than-expected stock build, rekindling worries of a glut. U.S. crude futures were down $1, or 2.5 percent, at $40.45 a barrel by 10:03 a.m. EDT, after touching a session low...

  • LONDON, March 23- Oil prices eased on Wednesday after figures from an industry group showed U.S. crude stockpiles rose last week by more than expected, reinforcing concerns that a global glut continues unabated. U.S. crude futures fell 33 cents to $41.12 a barrel by 0945 GMT. Brent crude was down 25 cents a barrel at $41.54, still up more than 50 percent from a...

  • LONDON, March 23- Trading houses are betting on oil markets remaining oversupplied for at least two more years even as crude prices stage a recovery driven by early signs of falling production. Ian Taylor, chief executive of top oil trader Vitol, said on Tuesday that "stocks of crude and products continue to build and these will weigh upon the market."

  • LONDON, March 23- Trading houses are betting on oil markets remaining oversupplied for at least two more years even as crude prices stage a recovery driven by early signs of falling production. Ian Taylor, chief executive of top oil trader Vitol, said on Tuesday that "stocks of crude and products continue to build and these will weigh upon the market."

  • NEW YORK, March 23- U.S. corn producers may have found two unlikely allies in their decade-long battle with big oil to get ethanol into the nation's fuel stream: automobile manufacturers and American drivers. That is considerably above the 14 percent estimate from June 2015 from the American Automobile Association and that share could climb to nearly a quarter...

  • BOSTON/ NEW YORK, March 23- More cash, lower targets and bigger share awards- not all U.S. energy bosses are feeling the full impact of tumbling oil prices in their paychecks. Oilfield services company Schlumberger NV, for example, used lower earnings targets for the second half of 2015, which helped its CEO Paal Kibsgaard receive total pay of $18.3 million, only...

  • March 21- Oilfield services provider Halliburton Co's plan to acquire smaller rival Baker Hughes faces more delay after European Union antitrust regulators halted their investigation into the $35 billion deal for the second time. The European Commission said the companies have yet to provide an important piece of information. Once the formal offer is...

  • HOUSTON/ NEW YORK, March 21- A dreaded scenario for U.S. oil bulls might just be becoming a reality. In key shale areas such as Eagle Ford or Wolfcamp and Bone Spring in Texas such backlog has fallen by as much as a third over the past six months, according to data compiled by Alex Beeker, a researcher at Wood Mackenzie. About 660 wells could be the equivalent of between...

  • March 18- U.S. energy firms this week added one oil rig after 12 weeks of cuts, data showed on Friday, after oil futures have soared over 50 percent since falling to a 12- year low in mid February. The total oil rig count rose to 387 in the week to March 18, compared with 825 oil rigs operating in the same week a year ago, oil services company Baker Hughes Inc said in its...

  • 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 at least 1988. Still, many analysts think the combined rig count will rebound later this year with signs that prices have bottomed after U.S. crude futures hit a 12- year low of $26.05 a barrel in February and U.S. gas futures fell to a...

  • SINGAPORE, March 16- Oil prices rose early on Wednesday after falling in the previous session, with U.S. producers showing increasing signs of financial distress and as focus shifted to U.S. inventory data due later in the day. West Texas Intermediate crude futures were trading at $36.94 per barrel at 0117 GMT, up 60 cents from their last settlement.

  • NEW YORK, March 14- The first major upstream oil and gas bankruptcy filing of the year could occur this week as SandRidge Energy Inc, Venoco Inc and Energy XXI Ltd reach the end of grace periods following millions in missed interest payments. The three oil and gas exploration and production companies with operations across the United States, said they would skip a...

  • March 14- Oil and gas services provider C&J Energy Services Ltd on Monday named Chief Financial Officer Randy McMullen as its chief executive officer, succeeding founder Josh Comstock who died on Friday. The cause of his death had not been determined, forensics office in Harris County, Texas said on Friday. McMullen, who joined C&J in August 2005, will continue in...

  • SINGAPORE, March 14- Oil prices were stable in early trading on Monday, with global oversupply and slowing economic growth weighing on markets but prospects of falling production lending crude some support. West Texas Intermediate crude futures were trading at $38.36 per barrel at 0055 GMT, down 14 cents from their last settlement, but international...

  • March 11- The number of rigs drilling for oil and natural gas in the United States has fallen to the lowest level since at least 1940, oil services company Baker Hughes Inc said on Friday, as energy firms continued to slash activity amid the deepest energy price rout in a generation. Oil rigs RIG-OL-USA- BHI> alone fell for a 12th week in a row this week with the rig...

  • *Iran intent on raising output to regain market share. SINGAPORE, March 11- Oil prices jumped on Friday supported by fresh investment and a strong yuan, which makes fuel cheaper for Chinese importers, but analysts warned that any price rally was pre-mature as a global glut remained in place. U.S. crude futures were trading at $38.66 a barrel at 0409 GMT, up 82 cents and...

  • *Iran intent on raising output to regain market share. West Texas Intermediate crude futures were trading at $38.29 per barrel at 0225 GMT, up 45 cents from their last close. "The funds have turned bullish and the market seems determined to stay at or around $40," said Pete Donovan, broker at Liquidity Energy in New York.