Oil and Gas Energy Equipment and Services

More

  • MEXICO CITY, Nov 24- Mexico's state oil company Pemex will process the lowest amount of crude this year in at least a quarter century, internal refining plan documents seen continue to batter margins. The decline is a double blow, as it means the national oil giant will likely struggle to compete in the upcoming liberalization of Mexico's retail oil sector and the...

  • "The burden of carrying high U.S. crude oil inventories is large," Kang Yoo- jin, commodities analyst at NH Investment and Securities in Seoul, said in a note on Monday. Venezuela's oil minister said on Sunday that OPEC cannot allow an oil price war and must take action to stabilize the crude market soon. When asked how low oil prices could go in 2016 if OPEC doesn't...

  • Benchmark front-month Brent futures for January had fallen 38 cents, or 0.85 percent, to $44.28 a barrel as of 0133 GMT, after it ending up 48 cents at $44.66 a barrel on Friday. Venezuelan oil minister Eulogio del Pino said on Sunday that OPEC cannot allow an oil price war and must take action to stabilize the crude market soon. Algeria's energy earnings are...

  • Venezuelan oil minister Eulogio del Pino said on Sunday that OPEC cannot allow an oil price war and must take action to stabilise the crude market soon. Algeria's energy earnings are forecast to fall to $26.4 billion next year while foreign exchange reserves will dip to $121 billion after low oil prices cut into the OPEC nation's economy, Finance Minister...

  • Drillers removed 10 oil rigs in the week ended Nov. 20, the biggest weekly decline since late October, bringing the total rig count down to 564, oil services company Baker Hughes Inc said in its closely followed report. U.S. crude oil futures averaged $41 a barrel so far this week, down from $43 last week, as crude inventories rose for the eighth consecutive week and...

  • OIL DRILLERS CUT RIGS FOR AN 11 TH WEEK IN LAST 12 ON WEAK CRUDE PRICES- BAKER HUGHES.

  • Noble Midstream Partners postpones IPO amid oil slump Thursday, 19 Nov 2015 | 4:35 PM ET

    Nov 19- Noble Midstream Partners LP, a wholly owned unit of Noble Energy Inc, said it postponed its planned IPO amid a slump in oil prices. The company filed for an initial public offering on Oct. 22. Noble Midstream will continue to evaluate the timing for the proposed offering as market conditions develop, the company said.

  • *March 2016 would mark start of low-demand spring season. *Steep rise in $35, $30 put options reveals downside targets. SINGAPORE, Nov 19- Oil traders are preparing for another downward turn in prices by March 2016, market data suggests, as what is expected to be an unusually warm winter dents demand just as Iran's resurgent crude exports hit global markets after...

  • Drillers added 2 oil rigs in the week ended Nov. 13, bringing the total rig count up to 574, oil services company Baker Hughes Inc said in its closely followed report. In the minutes after Baker Hughes released the report, U.S. crude prices dipped about 20 cents to around $40.50 a barrel. U.S. crude futures for next year were trading around $46 a barrel, according to the...

  • OIL DRILLERS ADD RIGS FOR FIRST WEEK IN 11 DESPITE LOWER CRUDE PRICES- BAKER HUGHES.

  • LONDON, Nov 12- U.S. natural gas production hit a new record in August, despite the deepening slump in gas prices and a fall in the number of rigs targeting gas formations. The United States produced 2.5 trillion cubic feet of gas in August, up 7 percent compared with the same month in 2014, according to the U.S. Energy Information Administration.

  • SINGAPORE, Nov 12- Oil prices struggled to break away from over two-month lows on Thursday, and the outlook remains bleak as traders ditch positions and producers hedge against lower prices despite some analysts saying market oversupply may have been overstated. U.S. crude futures were at $43.14 a barrel at 0740 GMT, up 21 cents from Wednesday when prices...

  • SINGAPORE, Nov 12- Crude oil prices edged away from over two-month lows in early Thursday trading, after a sharp slide on concerns the market would take much longer than many anticipated to rebalance as supplies far outstrip demand. Benchmark U.S. crude futures were at $43.25 a barrel at 0242 GMT, up 32 cents from Wednesday when prices tumbled 3 percent on the back...

  • MILAN, Nov 11- A Milan court has ordered the seizure of assets worth 250 million euros from three defendants caught up in an Algeria corruption case involving Italian oil services company Saipem, a court document showed. A seizure order issued by a Milan judge on Oct. 9, and seen by Reuters, said the assets seized included six buildings in Manhattan belonging to...

  • HOUSTON, Nov 10- A traffic jam of oil tankers has emerged along the U.S. More than 50 commercial vessels were anchored outside ports in the Houston area at the end of last week, of which 41 were tankers, according to the Houston Pilots, an organization that assists in the navigation of larger vessels in and around port areas. As of Nov. 6, more than 20 million barrels of...

  • HOUSTON, Nov 10- A traffic jam of oil tankers has emerged along the U.S. More than 50 commercial vessels were anchored outside ports in the Houston area at the end of last week, of which 41 were tankers, according to the Houston Pilots, an organization that assists in the navigation of larger vessels in and around port areas. As of Nov. 6, more than 20 million barrels of...

  • NEW YORK/ CALGARY Nov 4- Canadian pipeline company Enbridge Inc is considering spending about $5 billion on oil storage assets in the U.S. Gulf Coast region, but has made no concrete investment decisions yet, a company spokesman said on Wednesday. In an investor presentation last month, Enbridge outlined opportunities to build storage and terminal assets on the...

  • NEW YORK, Nov 4 (Reuters)- U.S. crude oil inventories rose for a sixth straight week as domestic production increased, outweighing a drop in imports to the lowest level since 1991, data from the Energy Information Administration showed on Wednesday. "The part of the report that continues to amaze is the domestic production number, which showed a small rise, despite...

  • But it showed that Gulf oil producers aim to keep pumping hard as they expect weak oil prices next year when sanctions on Iran are lifted allowing it to export more to an oversupplied market, the sources said. They told Reuters that OPEC members Saudi Arabia, United Arab Emirates and Qatar are rescheduling non-essential maintenance work at oilfields...

  • *Baker Hughes data shows 9th weekly decline in U.S. oil rig count. NEW YORK, Oct 30- Oil prices rose on Friday, finishing higher for the week and month as well, after another decline in the U.S. oil rig count indicated domestic crude production could fall in coming months. U.S. oil drillers removed 16 rigs in the week ended Oct. 30, bringing the total rig count down to 578, the...