Oil and Gas Energy Equipment and Services

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  • TOKYO/ SINGAPORE, Oct 28- Iran's exports of crude oil and condensate dropped to a seven-month low this month, hit by refinery maintenance and a lull in demand ahead of winter, according to an industry source with knowledge of the nation's tanker loading schedule. Still, loadings of the light oil condensate grade were robust- the second highest for the year- due to...

  • Oct 27- U.S. natural gas futures edged higher on Tuesday after dropping almost 17 percent over the prior four days as traders found value in prices that briefly fell below $2 for the first time in over three years. With one day to go as the front-month, November gas futures on the New York Mercantile Exchange closed up three cents at $2.092 per million British...

  • MEXICO CITY, Oct 27- Mexico's national oil company Pemex said on Tuesday that an alkylation plant at its smallest refinery has been shut following detection of a gas leak, adding the refinery was operating normally. The company said in a statement that the plant at the Ciudad Madero refinery located in northern Tamaulipas state has been isolated to attend to the...

  • Oct 27- U.S. natural gas futures briefly fell below $2 per million British thermal units early Tuesday, the lowest level in over three years, bringing total losses since last Wednesday to 19 percent. Front-month gas futures on the New York Mercantile Exchange fell 1.6 cents, or 0.78 percent, to $2.046 per million British thermal units at 9:14 a.m. EDT, paring...

  • NEW YORK, Oct 26- The U.S. natural gas market slumped 10 percent to a fresh three-year low on Monday as traders acknowledged that this winter may be warmer than expected, curbing heating demand. "The latest change in the short-term weather forecasts was the straw that broke the camel's back," said Aaron Calder, an analyst at Houston- based Gelber& Associates.

  • *Oil prices risk falling again in spring- Goldman Sachs. Influential Wall Street trading house Goldman Sachs warned of downside risk for oil prices through spring 2016 as U.S. and European storage utilization for distillates, which include diesel, neared historic highs. Traders said that as refined oil product storage tanks filled up, unwanted diesel and jet...

  • Influential Wall Street trading house Goldman Sachs warned of downside risk for oil prices through spring 2016 as U.S. and European storage utilization for distillates, which include diesel, neared historic highs. Traders told Reuters that as refined oil product storage tanks fill up, unwanted diesel and jet fuel cargoes were backing up outside Europe's...

  • UPDATE 7-Oil falls as supply glut swells storage Monday, 26 Oct 2015 | 9:16 AM ET

    LONDON, Oct 26- Oil edged lower on Monday on a global supply glut pushing fuel storage sites close to capacity, and with fewer speculators betting on a rise in crude prices. Brent, the international benchmark, was down 30 cents at $47.69 a barrel at 1253 GMT, more than 11 percent below this month's high. As refined oil product storage tanks fill up, unwanted diesel and...

  • Unwanted diesel, jet ships could sink oil prices Monday, 26 Oct 2015 | 3:00 AM ET

    *Ships with half a million tonnes taking the long route to Europe. LONDON, Oct 26- Unwanted diesel and jet fuel cargoes are backing up outside Europe's ports and taking longer, slower routes around the southern tip of Africa, traders say. Refineries from Rotterdam to India to Louisiana, drunk on cheap crude, ran regardless of whether the world wanted what they were...

  • Over the past eight weeks, drillers cut a total of 81 rigs, oil services company Baker Hughes Inc said in its closely followed report. U.S. oil futures this week however have lost over 5 percent to average $45 a barrel, sliding for a second straight week, on continuing oversupply concerns even as China's latest interest rate cut raised hopes for stronger demand from...

  • Drillers removed one oil rig in the week ended Oct. 23, bringing the total rig count down to 594, the least since July 2010, after cutting a total of 80 rigs over the prior seven weeks, oil services company Baker Hughes Inc said in its closely followed report. "The current rig count implies that U.S. production would drop by 40,000 barrels a day in 2016," analysts at...

  • Noble Midstream Partners files for IPO Thursday, 22 Oct 2015 | 8:41 AM ET

    Oct 22- Noble Midstream Partners LP, a wholly owned unit of Noble Energy Inc, filed with U.S. regulators for an initial public offering of common units on Thursday. Noble Midstream will own assets in Colorado's DJ Basin crude oil, natural gas and water-related midstream services. The company, which intends to list its common stock on the New York Stock Exchange...

  • Baker Hughes expects less drilling in 4th qtr Wednesday, 21 Oct 2015 | 8:18 AM ET

    Oct 21- Oilfield services provider Baker Hughes Inc said it expects less drilling in the current quarter due to reduced customer spending but said it was seeing "stronger interest" in services that help increase oil and gas production. Baker Hughes, which is being acquired by larger rival Halliburton Inc, reported a net loss attributable to the company of $159...

  • Who should build Europe's energy stations? Tuesday, 20 Oct 2015 | 2:40 AM ET
    Who should build Europe's energy stations?

    Neil Dwane, chief investment officer for equities for Europe at Allianz Global Investors, suggests pension funds and the insurance industry should be used to finance infrastructure projects, rather than China.

  • Oct 19- Halliburton Co, the world's No.2 oilfield services provider, reported a bigger-than-expected 36 percent drop in quarterly revenue, hurt by weak drilling activity and pricing in North America. To make up for their falling revenue, oilfield services providers including Halliburton and Schlumberger Ltd have been cutting jobs and trimming expenses.

  • Halliburton posts loss as charges weigh Monday, 19 Oct 2015 | 6:59 AM ET

    Oct 19- Halliburton Co, the world's No.2 oilfield services provider, posted a quarterly loss, hurt mainly by charges related to asset write-offs and severance costs. Net loss attributable to the company was $54 million, or 6 cents per share, in the third quarter ended Sept. 30, compared with a profit of $1.20 billion, or $1.41 per share, a year earlier.

  • Oct 16- Schlumberger Ltd, the world's No.1 oilfield services provider, said it would cut more jobs and restructure its manufacturing and distribution network as it now expects a recovery in demand to be pushed to 2017.. Schlumberger has already cut 20,000 jobs this year and scaled back spending in response to weak crude prices, moves that helped its...

  • WASHINGTON, Oct 16- U.S. industrial production fell for a second straight month in September on renewed weakness in oil and gas drilling, the latest indication that the economy lost momentum in the third quarter. Industrial output slipped 0.2 percent after a revised 0.1 percent dip in August, the Federal Reserve said on Friday. Economists polled by Reuters had...

  • Oct 15- Schlumberger Ltd, the world's No.1 oilfield services provider, suggested that it may have to reduce costs further and cut more jobs as it expects any rebound in drilling activity to now take longer than expected. Even if crude prices improve next year, weak cash flows would curtail the ability of oil and gas companies to increase spending on exploration...

  • Oct 15- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a marginally better-than-expected quarterly profit, as deep cost cuts and efficiency improvements helped cushion the impact of weak North American drilling activity. That view was expressed by Schlumberger Chief Executive Paal Kibsgaard in September and reiterated on...