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  • Baker Hughes reports quarterly loss on $772 mln charge Tuesday, 21 Apr 2015 | 8:17 AM ET

    April 21- Oilfield services provider Baker Hughes Inc, which is in the process of being acquired by Halliburton Co for $35 billion, posted a quarterly loss compared with a year-earlier profit as it recorded a $772 million charge related to restructuring and other items. Baker Hughes said it would cut 10,500 jobs, or 17 percent of its global workforce, up from 7,000...

  • NYMEX-Crude steady; U.S. inventories seen up again Monday, 20 Apr 2015 | 8:17 PM ET

    TOKYO, April 21- U.S. crude futures held steady on Monday as a drop in stockpiles at a key U.S. delivery point offset near record high production in Saudi Arabia and an expected build in U.S. oil inventories. *NYMEX crude for May delivery, which expires later in the day, was down 4 cents at $56.34 a barrel by 0000 GMT, after settling up 64 cents at $56.38 on Monday.

  • How the Dow Jones industrial average fared Monday Monday, 20 Apr 2015 | 4:47 PM ET

    Stocks rebounded on Monday from a big sell-off on Friday after getting a boost from some good first-quarter earnings reports. Toy maker Hasbro and oil services company Halliburton were among the companies that reported earnings that surpassed analysts' expectations. The Dow Jones industrial average rose 208.63 points, or 1.2 percent, to 18,034.93.

  • HOUSTON— Halliburton Co. has cut 9,000 jobs— more than 10 percent of its workforce— in about six months and is considering more cost-cutting moves as falling oil prices sap demand for its drilling help. Halliburton executives disclosed the job cuts Monday on a conference call with investors. Schlumberger and Halliburton help map underground oil and gas...

  • NEW YORK, April 20- Oil prices ended in positive territory on Monday after a drop in stockpiles at the delivery point for U.S. crude in the second half of last week outweighed pressure from near record high production in Saudi Arabia. Tensions after the dispatch of U.S. Navy ships to waters near Yemen and an alert issued by Saudi Arabia for a possible militant attack...

  • Hasbro was among the biggest gainers Monday after the toy maker reported earnings that were better than analysts were expecting. Oilfield services company Halliburton also rose after beating analysts' estimates. The price of oil increased 64 cents to close at $56.38 a barrel in New York.

  • Halliburton Co. on Monday reported better-than-expected quarterly results after some hurtful cuts to offset a 60 percent plunge in oil prices from last June to January. In the last month, shares of Schlumberger, Halliburton, Baker Hughes Inc. and others are up more than 10 percent. Halliburton and Baker Hughes both rose almost 3 percent Monday.

  • NEW YORK, April 20- Oil prices rose on Monday after a drop in stockpiles at the delivery point for U.S. crude in the second half of last week outweighed pressure from near record high production in Saudi Arabia. Brent, the more widely-referenced benchmark, was up 40 cents at $63.85 a barrel by 1:12 p.m. EDT, after falling more than $1 earlier. "The market was bouncing...

  • Tensions in the Middle East and a drop last week in the number of rigs drilling for oil in the United States also put a floor beneath U.K. North Sea Brent and U.S. crude futures, traders said. Brent, the more widely-referenced benchmark, was up 10 cents at $63.55 a barrel by 11:53 a.m. EDT, after falling more than $1 earlier. "The market was bouncing around looking for...

  • US stocks gain, rebounding from Friday's slump Monday, 20 Apr 2015 | 11:56 AM ET

    NEW YORK— U.S. stocks are rising in midday trading, bouncing back from a big loss on Friday, as companies turn in healthy earnings reports. Hasbro was among the biggest gainers Monday after the toy maker reported earnings that were better than analysts had been expecting. Oilfield services company Halliburton also rose after its earnings beat analysts'...

  • April 20- Halliburton Co's quarterly profit beat analyst expectations by the biggest margin in at least eight quarters as cost cuts helped the oilfield services provider offset a steep fall in drilling in North America, its biggest market. Revenue fell by 4 percent to $7.05 billion in the first quarter, but beat analysts' average expectation of $6.96 billion,...

  • ITABORAÍ, Brazil, April 20- For the 20 men hanging on at the Pousada do Trabalhador, a 600- bed boarding house on the dusty outskirts of this boom town northeast of Rio de Janeiro, the dream that Brazil's oil wealth would bring a better life was over. The men are the latest victims of Brazil's biggest-ever corruption scandal, a multi-billion dollar graft scheme...

  • April 20- Halliburton Co warned of headwinds in its international operations and pricing pressure for its oilfield services in North America, its largest market, as an extended slump in oil prices continues to force drillers to slash spending. Halliburton agreed to buy smaller rival Baker Hughes Inc for $35 billion last November, to better negotiate the slump...

  • Halliburton posts quarterly loss on $1.21 bln charge Monday, 20 Apr 2015 | 7:10 AM ET

    April 20- Halliburton Co, which is buying smaller oilfield services provider Baker Hughes Inc for $35 billion, posted a quarterly loss compared with year-earlier profit as it took $1.21 billion in charges related to asset writedowns and other items. The net loss attributable to Halliburton was $643 million, or 76 cents per share, in the first quarter ended March...

  • HOUSTON— Halliburton reported a $643 million loss for its first quarter, as the oilfield services provider continued to adjust to slumping energy prices that have forced layoffs and other cutbacks at companies across the sector. Halliburton announced in February that it will eliminate at least 5,000 jobs. In North America, Halliburton Co. felt pricing...

  • *China cuts bank reserves, adds liquidity. Crude oil was also buoyed by China cutting bank cash reserves, the second industry-wide cut in two months, adding more liquidity to bolster slowing growth. Brent crude was up 80 cents at $64.25 a barrel by 0628 GMT.

  • *Iraqi Kurdish forces widen buffer around Kirkuk. SINGAPORE, April 20- Oil prices rose on Monday, extending last week's gains as a drop in the number of U.S. rigs drilling for crude pointed to lower supply later in the year, while China's latest stimulus measure also underpinned the market. Brent crude was up 70 cents at $64.15 a barrel by 0532 GMT.

  • ON THE GULF OF MEXICO— Five years after the nation's worst offshore oil spill, the industry is working on drilling even further into the risky depths beneath the Gulf of Mexico to tap massive deposits once thought unreachable. The number of deepwater drilling rigs has increased, too, from 35 at the time of the Macondo blowout to 48 last month, according to data from...

  • *Iraqi Kurdish forces widen buffer around Kirkuk. SINGAPORE, April 20- Oil prices rose on Monday, extending last week's gains as a drop in the number of U.S. rigs drilling for crude pointed to lower supply later in the year, while China's latest stimulus measure also underpinned the market. Brent crude was up 72 cents at $64.17 a barrel by 0324 GMT.

  • US oil and natural gas rig count drops by 34 to 954 Friday, 17 Apr 2015 | 7:50 PM ET

    Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 34 this week to 954 amid depressed oil prices. Houston- based Baker Hughes said Friday 734 rigs were seeking oil and 217 explored for natural gas. Among major oil- and gas-producing states, Texas plummeted by 15 rigs; Oklahoma was down six;...