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  • Profit growth expectations for S&P 500 energy companies have fallen more than any other sector- from a forecast of 13.8 percent on July 1 to the current 1.8 percent, Thomson Reuters data showed. With various names due to report next week, including Exxon Mobil, Chevron, ConocoPhillips and National Oilwell Varco, there are hopes that executives will suggest that...

  • Bernstein Research said this week that about a third of U.S. shale production would be uneconomical if oil prices were to fall to $80 per barrel. E&P industry needs $90 NYMEX, about $100 Brent, oil prices to maintain the current oil rig count of 1,500-1,600 rigs, which is intrinsic to our U.S. oil production outlook. MORNINGSTAR INC "Our analysis suggests that the...

  • SAN FRANCISCO, Oct 22- Shipments of Bakken crude oil from North Dakota to California by barge have quietly overtaken those by train for the first time, showing how the state's isolated refiners are using any means necessary to tap into the nation's shale oil boom. While tough permitting rules and growing resistance by environmentalists have slowed efforts to...

  • Oct 22- Contract driller Nabors Industries Ltd reported a 17 percent rise in revenue, its highest increase in nine quarters, as it benefited from strong spending in U.S. shale fields. "We are acutely aware of the potential for further weakness in crude oil prices and the associated impact on our customers' spending plans, particularly in North and Latin America,"...

  • Oct 21- As fracking accelerates in North American shale fields, oilfield services providers Halliburton Co and Baker Hughes Inc are stockpiling sand to protect themselves against rising costs and are buying more railcars to transport the haul. Halliburton, the world's largest provider of fracking services, is more than doubling its railcar fleet and...

  • But offshore drillers such as Transocean Ltd are expected to post lackluster quarterly sales as new rigs ordered in boomtime hit the seas, creating overcapacity in an already crowded market. Revenue at Transocean, the second-biggest global offshore driller by market value, is expected to fall 15 percent- its steepest in three years- according to Thomson...

  • WASHINGTON, Oct 20- U.S. officials will examine how to boost efficiency of the Strategic Petroleum Reserve now that domestic energy production is booming, according to a letter from a Department of Energy official. "DOE believes that a broad, long-range strategic review of the SPR needs to be accomplished," Christopher Smith of the DOE Office of Fossil Energy,...

  • Oct 16- Baker Hughes Inc, the world's No.3 oilfield services provider, reported a lower-than-expected profit as political tensions disrupted activity in Libya and Iraq, and a sharp fall in drilling in the Gulf of Mexico weighed on margins. Baker Hughes shares dropped more than 10 percent in premarket trading on Thursday as the company's profit fell short of...

  • Oct 16- Baker Hughes Inc, the world's No.3 oilfield services provider, reported a lower-than-expected profit for the first time in five quarters as political tensions in Libya and Iraq, and a sharp fall in drilling activity in the Gulf of Mexico weighed on margins. Baker Hughes said pretax profit margins in its operations in Europe, Africa and the Russia Caspian...

  • NEW YORK, Oct 15- Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. At stake is not just the fate of a U.S. drilling frenzy that has transformed the North American energy picture and powered the U.S. economy, but the shape of the global market as OPEC leader Saudi Arabia hopes to take share from U.S. producers.

  • EPA said it was applying "first-time-ever restrictions" on its approval of the herbicide, called Enlist Duo, which is designed to be used with new genetically modified crops developed by Dow AgroSciences, a unit of Dow Chemical. EPA said the approval lays out a template of new requirements for future approvals of herbicides designed for use with genetically...

  • COLUMN-Oil market proves mightier than OPEC: Kemp Wednesday, 15 Oct 2014 | 8:21 AM ET

    "If the shale revolution can be sustained in the United States, and successfully exported to other countries, some combination of OPEC production cuts or lower oil prices to encourage demand and forestall more investment, will be inevitable by 2015-16," I wrote last year. "The massive rise in prices means Saudi Arabia will face intense competition from shale," I...

  • NEW YORK, Oct 15- Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. At stake is not just the fate of a U.S. drilling frenzy that has transformed the North American energy picture and powered the U.S. economy, but the shape of the global market as OPEC leader Saudi Arabia hopes to claw share from U.S. producers.

  • Cramer: Oil sowing the seeds of its own demise Friday, 10 Oct 2014 | 7:13 PM ET
    A derrick hand works on an oil rig drilling into the Bakken shale formation outside Watford City, N.D.

    With the raging levels of oil production in the United States, Cramer shares his concerns about lack of legal infrastructure and storage of the oil.

  • Oct 9- Thursday marked the end of the epic nine-week divorce trial of Oklahoma's richest man, oil magnate and Continental Resources Chief Executive Harold Hamm. During the proceedings, lawyers for Harold Hamm and his wife of 26 years, Sue Ann Hamm, presented starkly different views of how much wealth should be divided by the court. Such a multibillion-dollar...

  • SAN FRANCISCO, Oct 9- California environmentalists on Thursday filed a lawsuit against the Kern County Board of Supervisors for its approval last month of a major oil-by-rail project in the state, saying the county failed to disclose the risks of the project to the public. But groups behind the lawsuit, including the Sierra Club and the Center for Biological...

  • Oct 9- Global news organization Reuters has asked an Oklahoma court to open courtroom proceedings to the public and unseal trial transcripts of the two-month-long divorce trial of billionaire oilman Harold Hamm and his wife, Sue Ann Hamm. Haralson cited concerns that private business information that might be discussed in the divorce case would harm Hamm's...

  • After the financial crisis of 2007-2009, a number of ailing U.S. refineries were sold to investors such as Carlyle Group and Delta Air Lines Inc, which lacked the credit agreements or oil trading expertise to efficiently supply their new plants. On Tuesday, Philadelphia Energy Solutions LLC, the biggest refinery on the East Coast, became the latest to join the...

  • WILLISTON, N.D., Oct 8- Desperate for a fresh start, unemployed workers from all over the world have converged on North Dakota's burgeoning oil patch, seeking six-figure salaries and the rewards of living in the fastest-growing economy in the nation. "The Overnighters" tracks the men, and a handful of women, whose dreams of wealth and redemption from past mistakes...

  • SINGAPORE Oct 8- U.S. crude futures fell towards $88 a barrel on Wednesday, dropping for a second day following larger-than-expected crude inventories, weaker economic growth forecasts and lower oil demand projections. *U.S. crude for November delivery was down 28 cents at $88.57 a barrel by 0039 GMT after falling by $1.49 in the previous session.