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  • The company received no new rig orders for the second quarter in a row in the three months ended March 31, Chief Financial Officer Jose Bayardo said on a call with analysts. Houston- based National Oilwell had 50,197 employees as of Dec. 31. The company reported a net loss of $119 million, or 32 cents per share, for the period, compared with a profit of $310 million, or 76...

  • Oil prices touched a low of $27.10 per barrel during the first quarter before recovering to close at $39.60 at end of March. Conoco reported a first-quarter net loss of $1.5 billion, or $1.18 per share, compared with a profit of $272 million, or 22 cents per share, a year earlier. The Houston- based company cut its forecast for capital spending in 2016 to $5.7 billion...

  • *Tanker could end up in Latin America- traders. LONDON, April 28- Trading house Trafigura is shipping a rare cargo of gasoline from China to the United States, as the recent weakening of the Asian market after months of stock builds opens up new routes. The tanker Dalmacija is currently sailing across the Pacific Ocean after loading a part cargo at the port of...

  • The company cut its 2016 capital expenditure forecast to $5.7 billion from $6.4 billion, driven by reduced deepwater exploration activity. Oil prices touched a low of $27.10 per barrel, before recovering to close at $39.60 at end of March. First-quarter net loss was $1.5 billion, or $1.18 per share, compared with a profit of $272 million, or 22 cents per share, a year...

  • April 27- Hess Corp said on Wednesday it would add drilling rigs in North Dakota's Bakken shale basin, its largest area of operations, if oil prices approach $60 per barrel, a level executives believe offers the best chance to return to profitability. By saying $60 per barrel is that level, Hess is admitting costs in North Dakota for transportation and other items...

  • The adjacent 310,000 bpd Cardon facility was processing around 110,000 bpd, added Freites, citing Monday's internal report of Venezuela's top refineries in the wind-swept Paraguana peninsula. A shipper close to Venezuela's exports said the Paraguana refineries' processing rate was at historical lows in early April. In the last few months, Venezuela's oil...

  • HOUSTON, April 26- U.S. gasoline futures rallied to their highest since August on Tuesday and boosted refinery margins after a flurry of Gulf Coast refinery unit outages, buying from Venezuela and a reported drop in New York inventories. "It's pretty much a seasonal draw" on rising demand and sellers unloading winter-grade barrels as the New York market switches...

  • Excluding special items, it earned 88 cents per share, compared with 84 cents per share that analysts on average were expecting, according to Thomson Reuters I/B/E/S. The Dallas- based carrier said it moved up plans to retire classic Boeing Co 737 jets in its fleet to no later than the third quarter of 2017 from 2018, in order to resolve uncertainty about...

  • HOUSTON, April 20- At least eight people have died and some 1,150 homes have been damaged in flooding triggered by torrential downpours in the Houston area this week as more rain fell in the region on Wednesday adding to vast pools of standing water. Don Oettinger, a forecaster with the National Weather Service's Houston/ Galveston office, said there was a...

  • On an adjusted basis, profit fell 25 percent to $435 million, or $1.23 per diluted share, in part because United began recording non-cash taxes. Analysts on average estimated United would earn about $420 million, or $1.18 per diluted share, according to Thomson Reuters I/B/E/S. A collapse in oil prices continues to hurt demand for travel from energy center...

  • Kinder Morgan reduced its 2016 capital budget to $2.9 billion, after earlier having lowered its spending plans to $3.3 billion in January. Net income available to Kinder Morgan shareholders fell to $276 million, or 12 cents per share, from $429 million, or 20 cents per share. The Houston- based company's revenue fell 11.2 percent to $3.195 billion in the quarter...

  • April 20- U.S. pipeline operator Kinder Morgan Inc reported a lower first-quarter profit, hurt by a prolonged slump in crude oil prices. Net income available to shareholders fell to $276 million, or 12 cents per share, in the quarter ended March 31, from $429 million, or 20 cents per share, a year earlier. The Houston- based company's revenue fell 11.2 percent to $3.195...

  • HOUSTON, April 20- At least eight people have died and some 1,150 homes have been damaged in flooding triggered by torrential downpours in the Houston area this week, officials said on Wednesday, as forecasts called for more rain. The National Weather Service said more rain is on tap for the city, the country's fourth largest, after a record-setting drenching that...

  • HOUSTON, April 20- At least nine people have died and some 1,150 homes have been damaged in flooding triggered by torrential downpours in the Houston area this week, officials said on Wednesday, as forecasts called for more rain. The National Weather Service said more rain is on tap for the city, the country's fourth largest, after a record-setting drenching that...

  • NEW YORK, April 15- Sprint Corp said on Friday it has extended LTE Plus, a network improvement that offers customers its fastest network and higher data speeds to New York City and 190 other markets. Overland Park, Kansas- based Sprint has been giving customers half-off discounts to switch to its service and cutting costs to the tune of $2.5 billion by slashing jobs...

  • NEW YORK, April 15- Out of sight, out of mind? Unlike most other countries, Uncle Sam requires its estimated 7 million expatriates, whether citizens or resident aliens, to file an income tax return with the Internal Revenue Service. "The U.S. has limited power, but the power they do have is significant," said Greg Dewald, an entrepreneur in Salta, Argentina who runs Bright!

  • CHICAGO, April 15- U.S. shale oil producer Goodrich Petroleum Corp said on Friday that it filed for Chapter 11 bankruptcy protection with a plan to eliminate $400 million in debt from its balance sheet while it rides out a slump in commodities markets. The Houston- based exploration and production company, which has shale assets in Texas, Louisiana and...

  • HOUSTON, April 14- Houston sued Internet banking company BofI Holding Inc. for securities fraud on Thursday, prompting its shares to sink on allegations it relied on unlawful lending practices and off- balance-sheet entities to boost profits. The suit filed by the Houston Municipal Employees Pension System in U.S. District Court Southern District of...

  • Its incoming president, Glen Hauenstein, cautioned during a conference call Thursday that the turnaround in passenger unit revenue would come a few months later in 2016 than previously forecast. However, Wall Street had been braced for worse. According to a recent survey by Wolfe Research analyst Hunter Keay, a third of airline investors polled believed Delta...

  • Wells Fargo and Bank of America, two of the biggest lenders to the U.S. oil and gas sector, each set aside hundreds of millions of dollars in additional provisions to cover souring loans to energy companies. While the price of oil has risen off decade-lows hit in January, it is still trading around $40 a barrel, well below the $100 plus levels seen in 2014 and spelling...