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  • Schlumberger shares rise as cost cuts impress Friday, 17 Apr 2015 | 9:52 AM ET

    April 17- Schlumberger Ltd's shares rose as much as 3.3 percent on Friday, after tight cost controls helped the world's No.1 oilfield services provider report higher-than-expected margins in the first quarter. While Schlumberger said on Thursday that lower activity and pricing pressure led to a 9 percent drop in quarterly revenue, profits came in well ahead...

  • Schlumberger is cutting another 11,000 jobs, bringing the total to 20,000 this year, as slumping oil prices squeeze the world's largest oilfield services companies. Schlumberger's profit tumbled 39 percent in the first quarter with oil companies cutting back on production in North America. Schlumberger has slashed spending to adapt, yet the fall-off has...

  • SINGAPORE, April 17- U.S. crude futures slipped towards $56 a barrel on Friday as soaring oil production from OPEC members stoked concerns over a global glut, but Middle East tensions kept a floor under prices. It climbed 32 cents to settle at $56.71 the day before, after hitting a 2015- high of $57.42. *Russian President Vladimir Putin said Iran's flexibility over...

  • 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 16- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a 38.8 percent drop in quarterly profit and said it would cut a further 11,000 jobs, blaming the fall in drilling activity, particularly in North America. Net income attributable to Schlumberger fell to $975 million, or 76 cents per share, in the first quarter ended March 31, from...

  • April 16- Schlumberger Ltd, the world's No.1 oilfield services provider, said it would cut a further 2,000 jobs and that it expects a recovery in U.S. land drilling activity to be delayed. Schlumberger, which provides drilling technology and equipment to oil and gas companies, said first-quarter revenue fell 19 percent from the fourth quarter, blaming lower...

  • April 16- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a 38.8 percent drop in quarterly profit and said it would cut a further 2,000 jobs, blaming the fall in drilling activity, particularly in North America. Net income attributable to Schlumberger fell to $975 million, or 76 cents per share, in the first quarter ended March 31, from $1.59...

  • Schlumberger beats 1Q profit forecasts Thursday, 16 Apr 2015 | 4:13 PM ET

    THE HAGUE, Netherlands _ Schlumberger NV on Thursday reported first-quarter profit of $975 million. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share. Fifteen analysts surveyed by Zacks expected $10.67 billion.

  • Rising oil and energy stocks push market higher at midday Wednesday, 15 Apr 2015 | 12:08 PM ET

    The price of oil jumped $2.30 a barrel to $55.59 a barrel in New York. Among energy companies, offshore drilling services firm Noble Corp rose 7 percent. Delta Air Lines climbed 4 percent after its quarterly profit more than tripled.

  • COLUMN-U.S. shale boom nears turning point: Kemp Tuesday, 14 Apr 2015 | 5:58 AM ET

    LONDON, April 14- Oil production from major U.S. shale plays will decline by almost 60,000 barrels per day between April and May according to new estimates from the Energy Information Administration. Only the Permian Basin is expected to post a small month-on-month increase in output. With the number of rigs drilling for oil in the United States down by almost 53...

  • *Iran urged the formation of a new Yemeni government on Monday and offered to assist in a political transition, comments likely to anger Saudi Arabia, which is backing Yemen's president against a rebel force allied with Iran. *Russia ended a self-imposed ban on supplying Iran with a defensive missile system on Monday, while launching an oil-for-goods barter...

  • WASHINGTON— A week shy of the fifth anniversary of the Deepwater Horizon oil spill, the Obama administration proposed new regulations Monday aimed at strengthening oversight of offshore oil drilling equipment and ensuring that out-of-control wells can be sealed in an emergency. The explosion of the Deepwater rig on April 20, 2010, killed 11 people and...

  • WASHINGTON, April 10- The United States is planning to impose a major new regulation on offshore oil and gas drilling to try to prevent the kind of explosions that caused the catastrophic BP Plc oil spill in the Gulf of Mexico, the New York Times reported on Friday, citing Obama administration officials. The Interior Department could make the announcement as...

  • The oil rig count fell by 42 this week to 760, the biggest drop in a month after the loss of 11 and 12 rigs in the prior two weeks respectively, according to data from oil services firm Baker Hughes. "It's a sign of the tumult the oil industry is still going through," said John Kilduff, partner at New York energy hedge fund Again Capital. With this week's decline, the oil rig...

  • US oil and natural gas rig count drops by 40 to 988 Friday, 10 Apr 2015 | 2:22 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 40 this week to 988 amid depressed oil prices. Houston- based Baker Hughes said Friday 760 rigs were seeking oil and 225 explored for natural gas. Alaska, California, Louisiana, Pennsylvania, Utah and West Virginia were all unchanged.

  • LONDON, April 10- Oil majors may have slashed capital spending but national oil companies in the Middle East and North Africa show no sign of cutting investment, buoying oilfield services that the stock market has beaten down. But while offshore drillers and seismic companies continue to suffer, oil services stocks with chunky exposures to Middle East...

  • MOSCOW, April 9- Russian oilfield services company Eurasia Drilling said on Thursday it made $421 million in net profit last year, 2.5 percent less than in 2013.. Eurasia Drilling said its top line revenue was 14.5 percent below revenue a year earlier at $2.975 billion. Its adjusted earnings before interest, tax, depreciation and amortisation fell around 11...

  • NEW YORK— BG Group PLC says it is in "advanced discussions" with Royal Dutch Shell PLC about a possible offer from Shell to buy the British natural gas producer. The statement from BG Group followed a Wall Street Journal report that said the deal could be valued at around $50 billion. Last November, Halliburton said it would pay $34.6 billion for rival oilfield...

  • ANCHORAGE, Alaska— Attorneys for Royal Dutch Shell PLC on Tuesday sued in federal court to remove six Greenpeace activists who boarded a vessel carrying an oil-drilling rig leased by Shell across the Pacific. The six on Monday used inflatable boats launched from the Greenpeace ship Esperanza to climb aboard the Blue Marlin, a heavy-lift ship carrying a...

  • Halliburton plans to sell spate of businesses Tuesday, 7 Apr 2015 | 5:37 PM ET

    NEW YORK— Oil and gas drilling services company Halliburton said Tuesday it will sell several businesses as it works to complete its $34.6 billion acquisition of competitor Baker Hughes. Halliburton said the sales will not close until regulators approve its purchase of Baker Hughes. Halliburton moved to buy Baker Hughes as global oil prices tumbled in 2014....