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Oil and Gas Energy Equipment and Services

  • *OPEC cut 900,000 bpd in January- Petro-Logistics. Global benchmark Brent crude oil prices were down 5 cents at $55.47 a barrel at 1226 GMT, while U.S. crude futures traded up 9 cents at $53.26. First indications of compliance to that deal show that members have cut production by 900,000 barrels per day in January, according to Petro-Logistics, a company that tracks...

  • *OPEC cut 900,000 bpd in January- Petro-Logistics. Global benchmark Brent crude oil prices were down 25 cents at $55.26 a barrel at 1010 GMT, while U.S. crude futures slipped 8 cents to $53.09. He also added that Petro-Logistics' report that OPEC members had cut production by 900,000 barrels per day in January was "not very encouraging" because it implied that only 75...

  • Jan 26- A small hole on a weld between two segments of a shallow four-inch pipe has been discovered on a pipeline that leaked some 200,000 liters of oil onto aboriginal land in Saskatchewan last week, provincial officials said on Thursday. They also said the roughly 2- kilometer- stretch of pipeline, which is owned by Tundra Energy Marketing Inc and feeds into the...

  • Jan 26- Oilfield services provider Baker Hughes Inc, which is being acquired by General Electric Co, said crude oil prices would need to rise by roughly another 15 percent to spur producers to spend more on drilling outside North America. Oil prices in the mid- to upper- $50 s-per-barrel range would encourage North American producers, while prices above $65 per...

  • Jan 26- Oilfield services provider Baker Hughes Inc, which is being acquired by General Electric Co, said crude oil prices would need to increase by another 15-16 percent to encourage producers to boost drilling outside North America. Oil prices in the mid- to upper- $50 s-per-barrel range would encourage North American producers to boost spending, while crude...

  • DUBAI/ KHOBAR, Saudi Arabia/ LONDON, Jan 26- State oil giant Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources said on Thursday. Aramco, whose fields are estimated to contain 15 percent of the world's oil, has asked a unit of oil services firm...

  • Jan 26- Oilfield services provider Baker Hughes Inc, which is being acquired by General Electric Co, indicated that higher shale drilling in North America would lead an industry recovery, while international demand would stay subdued. Baker Hughes, which will be the world's No. 2 services firm after its merger, said drilling activity and pricing pressure...

  • Jan 26- Oilfield services provider Baker Hughes Inc said it expected revenue from its onshore business in North America to increase in the first half of the year as customers ramp up drilling activity and pricing improves. Improvement in pricing would remain limited as the market remained oversupplied, Baker said, joining bigger rivals Halliburton Co and...

  • Jan 26- Oilfield services provider Baker Hughes Inc, which is being acquired by General Electrical Co, said its fourth-quarter loss was smaller than a year ago, when it booked a $1.25 billion impairment charge. Net loss attributable to Baker Hughes was $417 million, or 98 cents per share, in the quarter ended Dec. 31, compared with a loss of $1.03 billion, or $2.35 per...

  • Jan 25- Southern California Gas Co said it withdrew natural gas from its Aliso Canyon storage facility for a second day in a row on Wednesday to support the reliability of the region's gas and electricity systems during a cold snap. SoCalGas has only limited access to fuel at Aliso Canyon following a massive methane leak from the facility, located in the Porter...

  • Jan 24- Plains All American Pipeline LP said it would buy a crude oil gathering system in the Permian Basin for about $1.22 billion, bolstering its presence in the top U.S. oil field. In a separate deal, Targa Resources Corp said it would buy Outrigger Energy's assets in the Delaware and Midland basins, two of the main portions of the Permian Basin, for up to $1.5...

  • Jan 24- Plains All American Pipeline LP said on Tuesday it bought a crude oil gathering system in the Permian Basin for about $1.2 billion. The company also entered into sales agreements of nearly $380 million, which include two pending transactions and the completion of a third in January. Plains All American said the crude oil gathering system is located in the...

  • LONDON, Jan 23- The number of rigs drilling for oil and gas in the United States has recorded the largest one-week increase for over five years, confirming a rapid upturn is now underway. But there is no denying a rapid and sustained upturn is now underway which could pose challenges for the Organization of the Petroleum Exporting Countries and for shale drillers...

  • CHICAGO, Jan 23- Peabody Energy Corp's plan to emerge from Chapter 11 bankruptcy faces a "material risk" that the U.S. coal producer could suffer a $1 billion revenue loss due to a disputed lease at the world's largest coal mine, according to an objection filed to its reorganization plan. Oil and gas driller Berenergy Corp and Peabody hold overlapping federal...

  • The utility has limited access to fuel in its giant Aliso Canyon gas storage facility in Los Angeles following a massive methane leak there between October 2015- February 2016.. SoCalGas, a unit of California energy company Sempra energy, serves 21.6 million consumers in Southern California. California agencies said in a study looking at the Aliso Canyon...

  • CHICAGO, Jan 23- U.S. oilfield services company Forbes Energy Services Ltd said it expected to "promptly" emerge from bankruptcy after filing a Chapter 11 plan on Monday with a prepackaged deal to exchange $280 million of debt for equity. In a filing with the U.S. Bankruptcy Court in Houston, Forbes said the slump had reduced demand for its activities, rendering it...

  • Jan 23- Halliburton Co, the world's No. 2 oilfield services provider, said its revenue growth this year would meet or outpace the increase in the number of drilling rigs in North America. However, Halliburton's revenue growth in North America in the latest quarter lagged the increase in rig count, sending the company's shares down as much as 4.5 percent to $53.93.

  • Jan 23- Halliburton Co, the world's No. 2 oilfield services provider, reported its first quarterly operating profit in North America in a year as oil producers put more rigs back to work in North American shale fields. The company, however, warned of weakness in markets outside North America, echoing comments made by larger rival Schlumberger last week.

  • Jan 23- Halliburton Co, the world's No. 2 oilfield services provider, on Monday warned of weakness in markets outside of North America, echoing comments made by larger rival Schlumberger last week. Shale producers, encouraged by a rise in crude prices after a slump of more than two years, have been drilling and completing more wells in North America.

  • LONDON, Jan 23- The number of rigs drilling for oil and gas in the United States has recorded the largest one-week increase for over five years, confirming a rapid upturn is now underway. But there is no denying a rapid and sustained upturn is now underway which could pose challenges for the Organization of the Petroleum Exporting Countries and for shale drillers...