Oil and Gas Energy Equipment and Services

More

  • Canada's export agency said on Thursday that the funding would focus on small- and medium-sized enterprises, where it can be most effective helping sustain employment and strengthening the economy. Mairead Lavery, senior vice president, business development, at the EDC said the prolonged downturn in the price of oil had had a profound impact on Canada's...

  • Feb 25- Oilfield services provider Halliburton Co, pressured by a prolonged slump in crude oil prices, will further slash its workforce by about 8 percent, or by 5,000 jobs, company spokeswoman Emily Mir told Reuters on Thursday. The company had about 65,000 employees worldwide at the end of 2015, compared with more than 80,000 at Dec. 31, 2014, according to a...

  • SINGAPORE, Feb 25- Crude prices fell on Thursday as strong gasoline demand and lower U.S. crude output failed to counter downward pressure from global overproduction that has left storage facilities swelling with unsold oil. The international Brent crude benchmark was trading at $34.18 per barrel at 0643 GMT, down 23 cents from its last close, hit by global...

  • SINGAPORE, Feb 25- Crude prices dipped on Thursday as strong U.S. gasoline demand failed to counter downward pressure from global overproduction that has left storage facilities swelling with unsold oil. The international Brent crude benchmark was trading at $34.17 per barrel at 0242 GMT, down 24 cents from its last close, hit by global oversupply that sees 1...

  • WASHINGTON, Feb 23- The head of the U.S. natural gas industry group responsible for persuading companies to voluntarily report their methane emissions says he has not seen- and does not expect to see- a high number of companies participating in the program. Spurred by the months-long methane leak at the Aliso Canyon natural gas storage facility in California,...

  • SCRANTON, Pa., Feb 23- Cabot Oil& Gas Co contaminated drinking water for two Pennsylvania families in its rush to begin fracking operations during the state's natural gas boom, a lawyer told a federal jury in Scranton, Pennsylvania, on Tuesday at the start of a civil trial. Leslie Lewis, who represents two families from the town of Dimock, told a six-member jury that...

  • HOUSTON, Feb 22- Oil and gas pipeline and processing companies that borrowed vast amounts to grow when crude oil prices were much higher and U.S. output was surging now face major issues over that leverage, the CEO of Occidental Petroleum Corp warned on Monday. "If you think debt is bad in the production business, the midstream has a lot more relatively," Stephen...

  • WILMINGTON, Del., Feb 22- Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will imperil the $500 billion pipeline sector as well. "It's a hellacious problem," said Hugh Ray, a bankruptcy lawyer with McKool Smith in Houston. A judge on New York's influential...

  • LONDON, Feb 22- Hedge funds have taken an increasingly nuanced position on oil prices since the start of the year, becoming more bearish towards U.S. crude but bullish towards Brent. The latest data from the U.S. Commodity Futures Trading Commission and exchanges show hedge funds and other money managers running near record long and short positions in oil...

  • WILMINGTON, Del., Feb 22- Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will imperil the $500 billion pipeline sector as well. "It's a hellacious problem," said Hugh Ray, a bankruptcy lawyer with McKool Smith in Houston. A judge on New York's influential...

  • NEW YORK/ HOUSTON, Feb 19- Activist investors brave enough to have ventured into the volatile energy sector are paying a heavy price for their courage, stuck with hefty paper losses and no near-term recovery in sight. Corvex Management, Elliott Associates and ValueAct Capital are among the largest and most prominent activist firms that have seen the value of...

  • Since last Friday though, some traders believed the market had seen a bottom on talk that OPEC was on a plan to reign in production. This week, Saudi Arabia, the lynchpin of the Organization of the Petroleum Exporting Countries, along with Qatar and Venezuela, and non- OPEC member Russia, proposed to freeze output at January's highs. Bank of America Merrill Lynch said...

  • LONDON, Feb 19- The U.S. oil and gas industry has lost around 100,000 jobs over the last 16 months, according to the U.S. Bureau of Labor Statistics. Employment losses worldwide are probably at least double that figure. And these are only people employed directly by oil and gas producers, drilling contractors and other oilfield services firms.

  • NEW YORK/ HOUSTON, Feb 19- Activist investors brave enough to have ventured into the volatile energy sector are paying a heavy price for their courage, stuck with hefty paper losses and no near-term recovery in sight. Corvex Management, Elliott Associates and ValueAct Capital are among the largest and most prominent activist firms that have seen the value of...

  • LOS ANGELES, Feb 18- An underground natural gas pipeline rupture that caused the largest methane leak ever in California has been permanently capped, paving the way for thousands of displaced Los Angeles residents to return home, state regulators said on Thursday. The stench of fumes spewing from the site sickened scores of people for weeks and prompted the...

  • During an arraignment in Los Angeles County Superior Court in Santa Clarita, attorneys for SoCal Gas also entered a not guilty plea to the additional misdemeanor count of illegally discharging air contaminants, the officials said. If convicted, the division of San Diego- based Sempra Energy could be fined up to $25,000 for each day it failed to report the gas...

  • Noble, which operates in U.S. shale fields and offshore Gulf of Mexico, Israel and West Africa, said it exited the fourth quarter with $5 billion in liquidity. The company could look at monetizing its midstream- pipeline, storage and related- assets, or some of its interest in the Tamar gas field off the coast of Israel, an executive said on the call.

  • HOUSTON, Feb 16- A saturated oil storage network in the Caribbean is forcing some South American and African producers to keep selling crude at prices that do not cover production costs, brokers and sources told Reuters. Low price environments typically motivate producing and trading companies to store more crude while waiting for a better time to sell, but a...

  • Feb 16- The following table shows oil output by the Organization of the Petroleum Exporting Countries plus Russia in January and December. The OPEC figures are crude oil according to a Reuters survey based on shipping data and information from sources at oil companies, OPEC and consultants. OPEC does not provide a timely official figure of its output.

  • LONDON, Feb 15- British defense firm BAE Systems named Charles Woodburn as its chief operating officer, making the former oil executive heir apparent for the chief executive's role. BAE's statement on Monday followed media reports on Sunday that Woodburn would be appointed to the role before taking over the top job from Ian King in 12 to 18 months.