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  • The oil and natural gas drilling service company said last year it would shift its focus to international markets, "especially to Russia and Latin America," with the number of active rigs in North America declining. Those are the regions that are getting hit the hardest this year as crude prices have fallen from $107 per barrel in June, to around $55.

  • In midday trading, Teekay shares fell more than 12 percent. Bermuda- based Teekay announced on Thursday that it will buy the oil tankers for $230 million. Shares of Teekay fell 67 cents, or 12.4 percent, to $4.73 in midday trading Friday.

  • PARIS/ LONDON, Dec 19- Bargain hunters may have to think twice before scooping up shares of beaten-down oil services companies, as a slump in crude prices raises questions about their ability to pay back debt. "People are just starting to dump these bonds given the trajectory of oil prices," Saxo Bank Chief Investment Officer Steen Jakobsen said.

  • LONDON, Dec 19- Large oil companies flush with cash are expected to seize on the recent collapse in oil prices to begin a shopping spree for smaller rivals, focusing on oil producers and explorers in Africa, Asia and the United States. Those include British oil and gas company BG Group, which produces oil and gas in regions including Brazil, East Africa and Australia.

  • BISMARCK, N.D., Dec 19- Tumbling U.S. oil markets hit an important if obscure milestone on Thursday, closing for the first time at a price that could trigger a $5.3 billion, two-year tax break for North Dakota oil drillers as soon as next summer. "We're really at the point where we could start calculating this," Ryan Rauschenberger, North Dakota's tax commissioner, said...

  • IPOs deliver mixed results in trading Wednesday, 17 Dec 2014 | 12:25 PM ET

    The stock was the biggest gainer on the New York Stock Exchange. The stock is trading under the ticker symbol "ONDK" on the New York Stock Exchange. Meanwhile, shares of Rice Midstream Partners LP, a natural gas gathering spinoff of Rice Energy Inc., fell below their IPO price.

  • Russia rout hits European shares Tuesday, 16 Dec 2014 | 5:00 AM ET

    *Stocks with strong exposure to Russia tumble. Shares in Austrian lender Raiffeisen Bank International, which relies heavily on Russia for profits, slid 5.3 percent to a record low, after Russia's central bank raised its key interest rate to 17 percent from 10.5 percent in an emergency move that failed to immediately halt the collapse in the rouble.

  • LONDON, Dec 15- The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to five-year highs of over $83,000 a day- helped by a drop in shipping fuel bunker prices. Herbjorn Hansson, chairman and chief...

  • LONDON, Dec 15- The most important characteristic of the U.S. oil industry is inertia- or to put it another way, drilling and production respond sluggishly even to a large change in prices. Since 1974, there have been four episodes in which oil prices declined sharply over a relatively short time. These price slumps occurred between December 1985 and July 1986;...

  • *Technip up 8 pct after ruling out CGG takeover. French oil services group Technip was the top performer on the FTSEurofirst 300 index of pan-European shares, rising 8 percent after it dropped a bid for seismic surveys specialist CGG. Oil and gas majors and services companies were among top gainers on the FTSEurofirst 300, with Tullow Oil, Total and BG Group up...

  • Dec 12- Energy companies cut 29 oil drilling rigs in the United States this week, the most in two years, as oil prices kept sliding, bringing crude down 47 percent since June, data showed on Friday. The number of rigs drilling for oil declined to 1,546 in the week to Dec. 12, according to data from oil services firm Baker Hughes. Twenty-one of the 29 rigs that were cut were in...

  • European shares set for biggest weekly loss in 3 years Friday, 12 Dec 2014 | 11:11 AM ET

    The broad STOXX Europe 600 has lost 5.2 percent during the week, representing a wipeout in market capitalisation of roughly $468 billion, nearly twice the size of Greece's GDP. Saipem dropped 5 percent on Friday, hitting a 10- year low, while Royal Dutch Shell was down 2.4 percent, Repsol down 4.8 percent and CGG down 4.6 percent. Crude has dropped more than 45...

  • PARIS, Dec 12- European stocks tumbled again on Friday, leaving them on course for their biggest weekly loss since May 2012 as shares in oil and oil services firms sank further along with crude oil prices. Saipem dropped 4.2 percent on Friday, hitting a 10- year low, while Royal Dutch Shell was down 2.4 percent, Repsol down 2 percent and CGG down 6.2 percent.

  • European shares extend slide; Airbus drops again Thursday, 11 Dec 2014 | 4:29 AM ET

    *Airbus sags; worries on demand for fuel-efficient aircrafts. PARIS, Dec 11- European shares fell in early trading on Thursday, losing ground for the fourth session in a row, as this week's slump in oil and iron ore prices weighed on a number of resource-related stocks. Shares in Airbus fell as much as 4.5 percent, adding to a 10 percent drop in the previous session...

  • European shares fall for fourth session in a row Thursday, 11 Dec 2014 | 3:07 AM ET

    PARIS, Dec 11- European shares fell in early trading on Thursday, losing ground for the fourth session in a row, as the slump in oil and iron ore prices knocked resource-related shares lower and fuelled worries over the pace of global growth. At 0805 GMT, the FTSEurofirst 300 index of top European shares was down 0.1 percent at 1,355.87 points. Oil services stocks...

  • European shares extend sell-off, Airbus plunges Wednesday, 10 Dec 2014 | 12:51 PM ET

    PARIS, Dec 10- European stocks fell for a third session in a row on Wednesday as a further plunge in crude prices knocked down the shares of oil majors and oil services groups such as Royal Dutch Shell and Fugro. Shares in Shell dropped 2.4 percent and Fugro tumbled 11 percent as Brent crude oil fell below $65 a barrel on mounting signs of oversupply and lacklustre...

  • Texas, North Dakota, Oklahoma, New Mexico and Colorado together account for almost 98 percent of the total rise in U.S. oil output since the beginning of 2008.. But Oklahoma, New Mexico and Colorado have collectively contributed almost an extra half million barrels per day compared with January 2008, according to the U.S. Energy Information Administration.

  • PARIS/ LONDON, Dec 10- European stocks fell for a third session in a row on Wednesday, as a further drop in crude prices knocked down the shares of oil majors and oil services groups such as Royal Dutch Shell and Fugro. Shares in Shell dropped 1.7 percent and Fugro tumbled 12 percent as Brent crude oil slipped below $65 a barrel, hitting a five-year low on rising...

  • *Oil price slump could herald return of mega-mergers. LONDON, Dec 10- Plunging oil prices look set to trigger another wave of industry consolidation after a decade when mega-deals were scarce, but investors want to see mergers that can squeeze out cost savings and only after a lavish dividend is paid. "Anyone who doesn't think consolidation is going to happen must...

  • OMISALJ, Croatia, Dec 10- Spurred by the demise of Russia's South Stream gas pipeline project, Croatia has revived a decade-old idea of building a liquefied natural gas import terminal at the deepwater oil port of Omisalj on the island of Krk. But the Ukraine crisis and the collapse of South Stream have refocused minds in central and eastern European nations on...