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  • April 21- Baker Hughes Inc, which is being bought by Halliburton Co for $35 billion, said it expects "unfavorable market conditions" to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services. The rig count in North America, a region that accounts for 44 percent of Baker Hughes' revenue, has halved to 1,000 so far this year.

  • The oil price crash represents for some "a great chance to seize on the crisis and turn it into an opportunity," Les Csorba, a partner with Heidrick& Struggles in Houston, said on the sidelines of the CERAWeek conference. Two executives that typify the new breed include the chief executive officers of Apache Corp and Chesapeake Energy. Apache's John Christmann and...

  • HOUSTON, April 20- Senator Lisa Murkowski said on Monday she will introduce legislation this year to allow U.S. crude exports, saying the Obama administration shouldn't dare lift sanctions on Iran before scrapping the U.S. crude export ban. While the final framework of the deal has yet to be determined, it appears it would let Iran export far more crude oil than at...

  • The assumption is that oil firms will finish work on those wells, known as "ducks" in the industry jargon, once oil prices recover further and North Dakota activates its tax relief in response to a long market slump. "You know you have an 800- pound gorilla that is potentially going to come after you if the price goes up," Jackson Hockley, an analyst at wealth manager...

  • *Exxon Mobil front-runner for Mozambique LNG stake-sources. MILAN/ LONDON/ SINGAPORE, April 16- Anadarko Petroleum is considering selling its multi-billion dollar stake in Mozambique's giant gas reserves, with Exxon Mobil and Qatar Petroleum both showing interest, banking and industry sources said. The world's largest oil firm has been expected to follow...

  • April 17- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to combat a decline in drilling activity. Schlumberger shares rose as much as 3.3 percent to a near-five-month high of $94.89 on Friday, a day after the company reported a...

  • WILLISTON, N.D., April 17- Calpers, the largest American public pension fund, and nearly 60 other institutional investors will ask the U.S. Securities and Exchange Commission on Friday to require oil and natural gas companies to publish detailed analysis of the risks posed by climate change to their business models. Calpers and other investors will tell the SEC...

  • UPDATE 2-Schlumberger to cut 11,000 more jobs Thursday, 16 Apr 2015 | 6:31 PM ET

    April 16- Schlumberger Ltd said it would cut a further 11,000 jobs and reduced its capital spending plan for this year as the world's No.1 oilfield services provider prepares for an extended period of lower activity and pricing pressure, especially in North America. The lower activity and pricing pressure led to a 9 percent drop in Schlumberger's...

  • April 14- Magellan Midstream Partners LP and TransCanada Corp, Canada's second-largest pipeline company, said on Tuesday they will develop a pipeline to connect TransCanada's Houston tank terminal to Magellan's East Houston terminal. The project will give shippers on TransCanada's Keystone and MarketLink lines access to Magellan's Houston and Texas...

  • April 14- Magellan Midstream Partners LP and TransCanada Corp, Canada's second-largest pipeline company, said they would develop a pipeline to connect TransCanada's Houston tank terminal to Magellan's East Houston terminal.

  • WILMINGTON, Del, April 14- The number of bankruptcies among publicly traded U.S. companies has climbed to the highest first-quarter level for five years, according to a Reuters analysis of data from research firm bankruptcompanynews.com. The $34 billion in assets held by the 26 companies is the second highest for a first quarter in the past decade.

  • *Chesapeake to receive $25 million and oil-gas leases. *AEP says McClendon had rights to Chesapeake data. The settlement could raise questions about whether EMG, which has invested more than $3 billion in ventures formed by McClendon since 2013, may be separating itself from McClendon, a successful oil and gas executive who co-founded Chesapeake in 1989. He...

  • April 14- Energy& Minerals Group, which has invested billions in oil and gas ventures with former Chesapeake Energy Corp Chief Executive Officer Aubrey McClendon, has moved to extricate itself from a lawsuit filed by Chesapeake alleging McClendon stole its trade secrets and used them to build up his new businesses. Houston- based EMG, a private investment firm...

  • April 14- Energy& Minerals Group, which has invested billions in oil and gas ventures with former Chesapeake Energy Corp Chief Executive Officer Aubrey McClendon, has moved to extricate itself from a lawsuit filed by Chesapeake alleging McClendon stole its trade secrets and used them to build up his new businesses. Houston- based EMG, a private investment firm...

  • LOS ANGELES, April 10- Former Enron trader and hedge fund billionaire John Arnold may be about to launch a national publicity campaign to convince U.S. voters of the need to reform public pensions, according to a document seen by Reuters. Growing costs were significant factors in the recent bankruptcies of Detroit and the California cities of Stockton and San...

  • April 8- U.S. oil and gas company Apache Corp said it would exit its exploration and production business in Australia by selling its unit in the country to a consortium of private equity funds for $2.1 billion in cash. The sale of Apache Energy Ltd to a consortium of funds managed by Macquarie Capital Group Ltd and Brookfield Asset Management Inc has an effective...

  • HOUSTON, April 8- Royal Dutch Shell Plc's $70 billion agreement to buy BG Group Plc may be just the signal that other dealmakers need to make their own energy takeover bets, particularly in the U.S. shale sector. "Things may be changing," said Rich Eychner, an equity research associate at Raymond James in Houston. There are literally dozens of shale oil and gas...

  • HOUSTON, April 7- A Houston- based company aims to help motorists pay consistent prices for gasoline at the pump despite market ups and downs. In return, if per-gallon prices rise above $2.75 in the United States and $3.75 in California- the current averages as determined by the U.S. Energy Information Administration- the company pays the difference to the...

  • NEW YORK, April 2- Two weeks of thin declines in the U.S. rig count have raised expectations that drilling activity is nearing a pivotal level that could dent production, bolster prices and coax idle rigs back to the field after a precipitous cull since October. In the last week of January, rigs fell by 94, the biggest drop on record, according to a weekly survey by oil...

  • *Iran nuclear talks drag, slowing any lifting of sanctions. The market's focus on Iran nuclear talks, which had depressed prices since Friday, also shifted as the dollar eased. Crude production in the United States dropped 0.4 percent to 9.4 million barrels per day in the week to March 27, the first weekly decline since the end of January, data from the Energy...