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Oil and Gas Energy Equipment and Services

  • *Market worries as Russia mulls higher output. NEW YORK, Oct 20- Oil prices fell about 2 percent on Thursday, as a resurgent dollar encouraged players to take profit on the previous day's rally that had sent U.S. crude to 15- month highs. Benchmark Brent crude for December delivery was down $1.23, or 2.3 percent, at $51.44 per barrel by 1:17 p.m. EDT.

  • Oct 19- Southern California Gas said on Wednesday it completed safety review tests at most wells at its Aliso Canyon natural gas storage facility in Los Angeles, which shut in October 2015 following a massive methane leak not plugged until February. Aliso Canyon is the biggest of its four storage fields. Since DOGGR must give the public 15 days notice before a...

  • Oct 19- Southern California Gas said on Wednesday it completed safety review tests at most of its wells at the Aliso Canyon natural gas storage facility in Los Angeles, which shut in October 2015 following a massive methane leak that was not plugged until February. Aliso Canyon is the biggest of its four storage fields. Since DOGGR must give the public 15 days...

  • Oct 19- Southern California Gas said on Wednesday it completed safety review tests at all wells at the Aliso Canyon natural gas storage facility in Los Angeles, which shut in October 2015 following a massive methane leak that was not plugged until February. Aliso Canyon is the biggest of its four storage fields. Since DOGGR must give the public 15 days notice...

  • Oct 19- Halliburton Co, the world's No.2 oilfield services provider, said oil prices would have to stabilize at above $50 per barrel for producers to meaningfully increase oilfield activity. The company posted a surprise quarterly profit on Wednesday by "relentlessly managing costs" and taking advantage of a rise in the number of rigs operating in North...

  • Oct 19- Halliburton Co, the world's No.2 oilfield services provider, posted a quarterly profit, helped by cost cuts and increased utilization in North America. Profit attributable to Halliburton was $6 million, or 1 cent per share, in the third quarter ended Sept. 30, compared with a loss of $54 million, or 6 cents per share, a year earlier. Revenue fell 31.3 percent to...

  • Oct 18- The U.S. government will impose new federal rules to reduce the risk of leaks at natural gas storage facilities in the wake of last year's massive methane release at California's Aliso Canyon, a task force said on Tuesday. Operators should phase out "single point of failure" designs, which hindered the ability to swiftly control and repair the leak at Aliso...

  • Oct 18- A U.S. interagency task force on Tuesday issued recommendations aimed at reducing the risk of incidents involving natural gas facilities in the wake of a major leak from the Aliso Canyon storage facility in California last year. The task force was co-chaired by Franklin Orr, Under Secretary for Science and Energy at the U.S. Department of Energy; and...

  • Under the settlement, both men agreed to "suspensions to settle charges that they disregarded significant red flags during the audits and reviews," the SEC said. The SEC found that Ernst& Young classified Weatherford audits as high-risk but repeatedly failed to detect the company's fraud until it had continued for more than four years. The Ernst& Young audit team...

  • WASHINGTON, Oct 18- Ernst& Young will pay $11.8 million to settle charges over "failed audits" of oil services company Weatherford International PLC, the U.S. Securities and Exchange Commission said on Tuesday.

  • RIO DE JANEIRO, Oct 17- Brazil's state-controlled oil company Petroleo Brasileiro SA said on Monday it had agreed to sell its mothballed Okinawa refinery and related assets to Japan's Taiyo Oil Co. for $129.3 million, according to a securities filing. Known as Nansei Seikyu, the Okinawa refinery company supplies about half the fuel needs for the Japanese...

  • RIO DE JANEIRO, Oct 17- Brazil's state-controlled oil company Petroleo Brasileiro SA said on Monday it had agreed to sell its mothballed Okinawa refinery and related assets to Japan's Taiyo Oil Co. for $129.3 million, according to a securities filing.

  • SEOUL, Oct 17- Korea National Oil Corp on Monday said the government had told it to indefinitely halt construction of an underground storage tank following an accident late last week that killed two workers and injured others. The death toll rose to two over the weekend, with another four injured, according to KNOC spokesman Ju Hyoung- In. The state-run energy...

  • NEW YORK, Oct 14- Crude oil prices fell on Friday as a stronger dollar weighed on the market and as traders awaited an industry report that would determine if U.S. oil drillers were ramping up activity with prices holding above $50 a barrel. Brent, the London- trade crude benchmark, was down 40 cents, or 0.8 percent, at $51.63 a barrel by 11:05 a.m. EDT, after rising...

  • LONDON, Oct 14- Trade firms that profited from the renaissance in global refining over the past two years are bracing for tougher times as ample stocks, dwindling volatility and newly powerful refineries in China squeeze opportunities, the chiefs of major trade houses told the Reuters Commodities Summit. The oil price crash was a windfall for traders, who...

  • *China daily crude imports hit record above 8 mln bpd in Sept. BEIJING/ SINGAPORE, Oct 13- China imported record volumes of crude oil last month, eclipsing the United States as the world's top buyer of foreign oil as Beijing's state reserves shipped in cheap crude to fill new storage tanks. It marked the second time this year- but the third month in the past twelve- that...

  • Oct 12- Pacific Gas& Electric said on Wednesday it returned the McDonald Island natural gas storage facility in San Joaquin County, California, to service on Aug. 5 after shutting the field in June due to small methane leaks at some wells. PG&E, a unit of California energy company PG&E Corp, discovered the small leaks during an inspection the state required after the...

  • Oct 12- Pacific Gas& Electric said on Wednesday it returned the McDonald Island natural gas storage facility in San Joaquin County, California, to service on Oct. 5 after shutting the field in June due to small methane leaks at some wells. PG&E, a unit of California energy company PG&E Corp, discovered the small leaks during an inspection the state required after the...

  • Oct 11- Phillips 66 Partners LP said on Tuesday it would buy some pipelines and terminals from parent Phillips 66 for $1.3 billion. The deal, the largest so-called "dropdown" from Phillips 66 to the unit, includes assets supporting Phillips 66' s refineries in Bayway, New Jersey; Billings, Montana; Borger, Texas, and Ponca City, Oklahoma, Phillips 66 Partners LP said.

  • Oct 10- Southern California Gas Co is waiting for final safety test results from fewer than 10 wells at its Aliso Canyon natural gas storage facility in Los Angeles before state agencies can allow the company to inject fuel into the field, according to a report posted Monday. SoCalGas shut Aliso Canyon in October 2015 due to a massive methane leak that was not...