Oil and Gas Energy Equipment and Services

  • NEW YORK/ HOUSTON May 11- U.S. Midwest refiners are rushing to secure alternatives for crude supply as they worry about prolonged outages after a raging wildfire in Canada shut nearly half of production capacity from the vast oil sands. They pointed to record crude stocks at the U.S. hub of Cushing, Oklahoma, swelling domestic supplies as well as growing imports...

  • *Oscar Spieler to replace Gary Smith as CEO. May 10- Golar LNG Ltd said former Chief Executive Oscar Spieler would return to the top job as the natural gas shipping company pushes deeper into the Brazilian power generation market to cope with weakness in freight rates. Spieler, who led the company between July 2009 and June 2011, will replace Gary Smith, who is...

  • May 10- Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive as the natural gas shipping company pushes deeper into the Brazilian power generation market in a bid to diversify operations amid weak freight rates. Weak demand for LNG from key markets such as South Korea and Japan, coupled with growing supply of tankers, has hurt rates for...

  • May 10- Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive, as the natural gas shipping company realigns operations, including building up its presence in the Brazilian power generation market. The company said on Tuesday it was in talks with a private equity firm for investments in Golar Power, its unit that holds an interest in a 1.5...

  • SINGAPORE, May 10- Oil prices fell early on Tuesday as Canadian wildfires that have knocked out over 1 million barrels worth of daily crude capacity moved away from production facilities, while brimming inventories and a strong U.S. dollar weighed on markets. U.S. crude futures were trading at $43.09 per barrel at 0040 GMT, down 35 cents from their last settlement.

  • LONDON, May 9- A growing overhang of gasoline and diesel fuelled a sharp sell-off in oil futures on Monday that reversed a recent rally over the wildfires in the heart of Canada's oil sands region, traders and analysts said. While crude oil supplies have significantly tightened in recent weeks due to outages linked to unrest in Libya, militant attacks in Nigeria,...

  • NEW YORK/ CONKLIN, Alberta, May 8- The mass evacuation of residents from the wildfire-devastated Canadian oil town of Fort McMurray is likely to significantly delay the restart of production, even though energy facilities themselves have escaped major damage from the flames. Energy facilities were barely touched through the first week of Alberta's...

  • May 6- U.S. oil drillers cut rigs for a seventh week in a row to the lowest level since October 2009, oil services company Baker Hughes Inc said Friday, although as analysts see an end to the nearly two-year slump in drilling for new wells. RIG-OL-USA- BHI> In 2015, drillers cut on average 18 oil rigs per week for a total of 963 for the year, the biggest annual decline since...

  • NEW YORK, May 6- For the past year and a half, a chart of the number of U.S. oil rigs in operation has resembled a death-defying ski slope- but it may be time to get back on the chair lift. The number of active oil rigs in the U.S. has fallen for six weeks, and was at a seven-year low as of April 29, according to data from oil service company Baker Hughes. Some believe the rig count...

  • HOUSTON, May 5- Apache Corp's cost savings in the first three months of 2016 exceeded its own expectations and are likely to continue even if oilfield services costs rise, executives of the Houston- based oil and gas producer said on Thursday. The cost cuts mean the company could achieve its goal of cash flow neutrality for 2016 with oil prices at $35 per barrel and...

  • The company's net income attributable to controlling interest was $249 million, or 68 cents per share, in the first quarter ended March 31, compared with a loss of $483 million, or $1.33 per share, a year earlier. Excluding items, the company earned 69 cents per share. Revenue fell 34.4 percent to $1.34 billion.

  • But, the company's shares were down 3.6 percent at $40.53, amid a broader decline in energy stocks. "We are going to invest in those product lines where we're a little bit weak, and we'll look at selective acquisitions to round them out," Halliburton Chief Executive Dave Lesar said on a post-earnings conference call. Halliburton's deal for Baker Hughes, valued at $35...

  • CARACAS/ HOUSTON, May 3- Venezuelan state oil firm PDVSA has issued at least $310 million in debt to companies including General Electric Co as it negotiates private issuances to pay off its suppliers, industry sources told Reuters, stretching the finances of a company that bondholders already worry is on its way to default. The securities are not bonds but offer...

  • May 3- Halliburton Co, the world's No.2 oilfield services provider, reported a bigger first-quarter loss, hurt by $2.77 billion in charges for asset impairment and other reasons. Net loss attributable to the company widened to $2.41 billion, or $2.81 per share, in the three months ended March 31, from $643 million, or 76 cents per share, a year earlier.

  • May 1- Oilfield services provider Halliburton Co and smaller rival Baker Hughes Inc announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. The contract governing Halliburton's cash-and-stock acquisition of Baker Hughes, which was valued at $34.6 billion when it was announced in...

  • May 1- Oilfied services provider Halliburton Co and smaller rival Baker Hughes Inc announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. The contract governing Halliburton's cash-and-stock acquisition of Baker Hughes, which was valued at $34.6 billion when it was announced in...

  • The contract governing Halliburton's cash-and-stock acquisition of Baker Hughes, which was valued at $34.6 billion when it was announced in November 2014, and is now worth about $28 billion, expired on Saturday without an agreement by the companies to extend it, the person added. The Houston- based company will continue to focus on keeping its profit margins...

  • The contract governing Halliburton's acquisition of Baker Hughes, which was valued at $35 billion when it was announced in November 2014, expired on Saturday without an agreement by the companies to extend it, the person added. The U.S. Justice Department filed a lawsuit to stop the deal last month, arguing it would leave only two dominant suppliers in 20...

  • LONDON/ TRIPOLI, April 28- Libya's National Oil Corporation has ambitious plans to restore output to pre-2011 levels after years of violence and disruption, officials said. Oil output is now less than a quarter of the 1.6 million barrels per day Libya pumped before Muammar Gaddafi fell in 2011, and the National Oil Corporation in Tripoli hopes to ramp it up...

  • LONDON, April 28- An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export crude oil led to the ship being blacklisted by the United Nations Security Council. The Distya Ameya tanker is heading to the western Libyan port of Zawiya, said Nagi al-Maghrabi,...