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  • Schlumberger revenue rises 6 pct Thursday, 15 Jan 2015 | 4:31 PM ET

    Jan 15- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a 6 percent rise in quarterly revenue, helped by efficiency improvements in North America and resilient drilling activity in the Middle East and Asia. Net income attributable to the Houston, Texas- based company fell to $302 million, or 23 cents per share, in the fourth quarter ended...

  • UPDATE 3-Lennar to Houston: We have a problem Thursday, 15 Jan 2015 | 1:33 PM ET

    Jan 15- Lennar Corp, the second-largest U.S. homebuilder by the number of homes sold, said it expects 2015 margins to be squeezed as falling oil prices hurt demand in Houston, a city heavily dependent on the energy sector. The warning overshadowed a 50 percent jump in quarterly profit and pushed Lennar's shares down as much as 9 percent. Houston accounted for about...

  • HOUSTON— Oil services company Schlumberger is raising its quarterly dividend by 25 percent, to 50 cents per share. Schlumberger Ltd. has principal offices in Paris, Houston, London and The Hague. Its stock fell 84 cents to $77.55 Thursday.

  • Q&A: US government eases Cuba travel restrictions Thursday, 15 Jan 2015 | 11:32 AM ET

    NEW YORK— Americans are one step closer to being able to vacation in Cuba, but don't pack your bathing suit and sunscreen just yet. Travel and hospitality companies are salivating at the chance to set up shop in Cuba. United Airlines became the latest travel company to publicly express plans to enter Cuba, saying Thursday it wants to fly there from Newark, New Jersey...

  • LONDON, Jan 15- Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world's most expensive exploration areas as oil prices tumble. BP employs 4,000 people in the North Sea and another 11,000 across the UK. Fellow North Sea oil producer ConocoPhillips is cutting 230 jobs in Britain,...

  • UPDATE 1-BP to cut North Sea jobs as oil price plummets Thursday, 15 Jan 2015 | 4:59 AM ET

    LONDON, Jan 15- BP will cut hundreds of jobs in the North Sea to reduce costs in one of the world's most expensive exploration areas as oil prices fall. The BBC quoted sources as saying staff cuts would be announced later on Thursday in the Scottish city of Aberdeen. Fellow North Sea oil producer ConocoPhillips is also cutting 230 jobs in Britain, with its UK...

  • *NASA and Russian accounts of incident differ. MOSCOW, Jan 14- The crew of the International Space Station safely evacuated to the Russian segment on Wednesday after systems detected a possible ammonia leak in the U.S. side, but NASA said it might have been a false alarm. "The Expedition 42 crew members are safe and in good shape inside the Russian segment of the...

  • HOUSTON, Jan 13- Royal Dutch Shell Plc said on Tuesday it received U.S. approval to export a very light form of crude oil that has undergone minimal processing. Shell had been working with the U.S. Department of Commerce's Bureau of Industry and Security on how to ship lightly processed condensate overseas without violating a decades-old crude export ban, the...

  • HOUSTON, Jan 13- Royal Dutch Shell Plc said on Tuesday it received U.S. approval to export a very light form of crude oil that has undergone minimal processing. Shell had been working with the U.S. Department of Commerce's Bureau of Industry and Security on how to ship lightly processed condensate overseas without violating a decades-old crude export ban, the...

  • Jan 13- Oil and gas producer Newfield Exploration Co said it would retain its assets in China, saying a slump in oil prices had created "headwinds" in the sale process. "The recent and significant pull back in global oil prices created headwinds for our China sales process... Hong Kong- listed oil trader and shipping firm Brightoil Petroleum Holdings had held talks...

  • HOUSTON, Jan 13- A DuPont and Co pesticide plant where four people died in a gas leak in November had been cited for emissions violations by a state agency on several occasions before the accident, the Houston Chronicle reported on Tuesday. The newspaper said that despite reports made to the Texas Commission on Environmental Quality in 2009 and 2010 regarding...

  • HOUSTON— Swift Energy plans to slash its spending by as much as 75 percent in the new year as it becomes the latest energy company to adjust to tumbling prices for its product. Swift Energy Co. is an independent oil and natural gas company with operations mainly in Texas and Louisiana. Shares of Swift Energy dropped 41 cents, or 15.2 percent, to $2.28 in midday...

  • HOUSTON— State records indicate that employees at a Houston- area pesticide plant where a poisonous gas leak killed four workers in November may have been periodically exposed to the dangerous fumes for years. The Houston Chronicle found that DuPont reported exhaust and ventilation system malfunctions at the La Porte plant to the Texas Commission on...

  • NEW YORK, Jan 13- Citigroup Inc has been quietly scaling back its consumer banking presence in some of the world's major cities, pulling out from markets where it does not have enough branches to be competitive. In 2014 Citi retail executives went from targeting 120 of "the world's top 150 cities" to homing in on 100 cities where the company has the greatest scale and...

  • CAPE CANAVERAL, Fla., Jan 12- A SpaceX Dragon capsule wrapped up a two-day journey to the International Space Station on Monday, the first U.S. cargo run to the orbital outpost in four months, a NASA TV broadcast showed. Orbital and SpaceX have NASA contracts worth a combined $3.5 billion for station resupply missions. The booster successfully lifted off from Cape...

  • NEW YORK, Jan 12- The U.S. oil storage trade is back- and may be bigger than ever. Six years ago, the financial crisis led to a sudden surplus of oil and a collapse in prices, spurring a classic low-risk trade that's set to make a comeback: buying crude to store in onshore tanks or floating tankers, since oil costs $8 a barrel less now than what futures buyers will pay in a year.

  • Wall Street is also punishing the sector. "The producers have to be getting murdered," said Steven Boyd, senior managing director at Sun Coast Resources Inc., a Houston- based distributor of petroleum and alternative fuels. Blue Ridge Biofuels, a small biodiesel producer in Asheville, North Carolina, that makes its product from used restaurant cooking oil, says...

  • UPDATE 1-Halcon Resources cuts 2015 spending again Thursday, 8 Jan 2015 | 6:06 PM ET

    Jan 8- Oil and gas producer Halcon Resources Corp said it would further cut its drilling and completion budget for 2015, responding to the continuing fall in oil prices. Halcon said on Thursday it now expected to spend between $375 million to $425 million, down from its earlier forecast of $750 million to $800 million. The midpoint of the earlier forecast on Nov. 10...

  • NYC grabs back top spot for global property investors Tuesday, 6 Jan 2015 | 12:01 PM ET

    Jan 5- New York City regained its top position among global commercial real estate buyers, unseating London and highlighting the appeal of U.S. properties in general, according to a survey of international investors released Tuesday. In the U.S., investors' top pick of New York was followed by San Francisco, Houston, Los Angeles and Washington, D.C., respectively.

  • NEW YORK, Jan 6- As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America's Gulf Coast refinery market threatens to drive prices even lower. From the Middle East, top exporter Saudi Arabia is offering crude at discounted prices in an attempt to defend...