Oil and Gas Energy Equipment and Services

  • April 22- Halliburton Co said on Friday that it cut more than 6,000 jobs in the first quarter, during which revenue slumped 40.4 percent and it took a $2.1 billion restructuring charge mainly for asset write-offs and severance costs. The No.2 oilfield services provider also said it would now hold its earnings conference call on May 3, instead of April 25, to...

  • April 22- Halliburton Co said on Friday that it reduced headcount by more than 6,000 during the first quarter due to the prolonged slump in oil prices. The oilfield services provider said revenue dropped 40.4 percent to $4.2 billion in the quarter ended March 31. The company also said it would now hold its earnings conference call on May 3, instead of April 25, to...

  • NEW YORK, April 22- Oil prices rose on Friday and notched their third straight week of gains as market sentiment turned more upbeat amid signs a persistent global supply glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to investment in...

  • "The low oil price environment continues to pressure our energy clients, which contributed to the increase in non-performing loans, our reserves and provision expense," William Rogers, chief executive of Atlanta- based SunTrust said on a post-earnings call on Friday. Dallas- based Comerica said this week its energy loans accounted for about 6 percent of its...

  • NEW YORK, April 22- Oil prices rose on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persistent global supply glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to investment in the...

  • Hughes@ April 22- U.S. energy firms cut oil rigs for a fifth week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said Friday, as energy firms continue to slash spending despite a bigger than 60 percent spike in futures since hitting a near 13- year low in February. RIG-OL-USA- BHI> The number of U.S. oil rigs currently operating...

  • NEW YORK, April 22- Oil prices rose on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persisting global supply glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to investment in the...

  • NEW YORK, April 22- General Electric Co reported lower first-quarter underlying revenue, citing weak sales of oil and gas drilling equipment, but it forecast a second-half upturn for power generation products that should help it meet its full-year target. "Given the negative revision in the oil and gas outlook, we believe investors will be viewing this growth...

  • NEW YORK, April 22- Oil prices jumped more than 2 percent on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persisting global supply glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to...

  • LONDON, April 22- Oil prices rose on Friday towards $45 a barrel, heading for a third straight week of gains as market sentiment turned more upbeat despite persistent oversupply. International benchmark Brent crude futures were trading at $44.60 per barrel at 0912 GMT, up 7 cents, or 0.1 percent, from their last settlement. West Texas Intermediate crude was up 14...

  • SINGAPORE, April 22- Oil prices rose on Friday, setting crude futures on course for solid weekly gains, as market sentiment turned more upbeat despite ongoing oversupply. International benchmark Brent crude futures were trading at $45.10 per barrel at 0632 GMT, up 57 cents, or 1.28 percent from their last settlement. West Texas Intermediate crude was up 62 cents,...

  • SINGAPORE, April 22- Oil prices rose in Asian trade on Friday, setting crude futures on course for solid weekly gains, as market sentiment becomes more upbeat despite ongoing oversupply. International benchmark Brent crude futures were trading at $44.98 per barrel at 0418 GMT, up 45 cents or 1 percent from their last settlement. West Texas Intermediate crude was...

  • SINGAPORE, April 22- Oil prices rose in Asian trade on Friday, setting crude futures on course for one of their biggest weekly gains this year, as sentiment has become more upbeat despite ongoing oversupply. International benchmark Brent crude futures were trading at $45.09 per barrel at 0054 GMT, up more than half a dollar from their last settlement.

  • *Q1 earnings/shr 40 cents vs. estimates 39 cents. The world's No.1 oilfield services provider said its costs to do business in North America exceeded the revenue it earned there in the quarter, the first time it had negative margins in the region since oil prices started falling in mid-2014. "North America was the biggest surprise to the downside, with negative...

  • April 21- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a 48.6 percent slump in quarterly profit, as spending cuts by oil producers continued to take a toll. Net loss attributable to the company was $501 million, or 40 cents per share, in the first quarter ended March 31, compared with a profit of $975 million, or 76 cents per share, a year...

  • ZURICH, April 20- Three shareholder advisory firms oppose plans by ABB to appoint Frederico Fleury Curado to its board, saying his existing positions at listed companies would leave him too little time to devote to the Swiss engineer. The 54- year-old Brazilian is already on the boards of U.S.-listed offshore oil driller Transocean and Iochpe Maxion, a Brazil-...

  • 20 OF IRAN'S 55-60 OIL TANKERS NEED TO BE MODERNISED- SENIOR GOVERNMENT OFFICIAL.

  • LONDON, April 19- Crude oil storage helped commodity traders and refiners make strong profits last year and in the first quarter of 2016 but now the price structure which made it possible is evaporating. In a typical storage strategy, known as "cash and carry," traders buy physical crude and put it into storage in a tank farm, or more rarely on a tanker at sea.

  • April 19- Oilfield services company Seventy Seven Energy Inc said it intended to file for a prepackaged Chapter 11 bankruptcy on or before May 26, the latest energy company to seek bankruptcy protection amid a prolonged oil price slump. The company, which was spun off from Chesapeake Energy Corp in 2014, said it had entered into a restructuring agreement with...

  • April 19- Oilfield services company Seventy Seven Energy Inc said it intended to file for a prepackaged Chapter 11 bankruptcy on or before May 26.