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  • 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...

  • BISMARCK, N.D., Dec 9- North Dakota has approved strict new standards for oil, requiring every barrel of crude be filtered for dangerous types of natural gas in order to make crude-by-rail transport safer. The new requirements come as federal, state and local officials grapple with how best to ensure the safe transport of North Dakota's crude oil, which has been...

  • US STOCKS-Global demand worries drag Wall St lower Tuesday, 9 Dec 2014 | 11:30 AM ET

    NEW YORK, Dec 9- U.S. stocks were sharply lower on Tuesday as investors shunned risk over concerns about the impact of lower oil prices on the global economy and political turmoil in Greece. "You've seen some real volatility in everything from energy to currencies and it's had a bit of a spillover effect on the market as people try to think about the impact of these...

  • *Oil services shares drop as Brent at $69/ barrel. PARIS, Dec 5- European stocks extended their broad rally on Friday afternoon after data showed U.S. employers added the largest number of workers in nearly three years in November. It really fuels the bullish sentiment on the market, " Saxo Bank trader Pierre Martin said.

  • Eni asset sales hit trouble due to oil rout Wednesday, 3 Dec 2014 | 12:40 PM ET

    *Oil plunge complicating Mozambique, Saipem stake sales- sources. CEO Claudio Descalzi still needs to raise 6 billion euros under an 11 billion euro program lasting until 2017. The firm has pinned its hopes on selling minority stakes in its Mozambique gas field, and non-core assets such as its 43 percent holding in oil services contractor Saipem.

  • Dec 3- Schlumberger Ltd, the world's No.1 oilfield services provider, said it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels as it trims its operations in response to slumping oil prices. Schlumberger on Tuesday had also said the quarter's results would also include a $800 million charge to write down the value of six...

  • US STOCKS-Wall St ticks up, energy stocks rally again Wednesday, 3 Dec 2014 | 11:10 AM ET

    NEW YORK, Dec 3- U.S. stocks rose slightly on Wednesday, led by commodity-related shares, as data continued to show a strengthening U.S. economy and ahead of a meeting of the European Central Bank. The largest percentage gainer on the S&P 500 was land drilling contractor and oil services company Nabors Industries, which rose 6.1 percent to $13.66.

  • BEIJING, Dec 3- The president of Sinopec Group's oilfield services unit has been dismissed and is currently under investigation, state media reported on Wednesday. State media reported last month that China's corruption watchdog had launched a series of inspections into state-owned enterprises and government bodies including Sinopec Group, the parent of...

  • Dec 2- Schlumberger Ltd, the world's No.1 oilfield services provider, said it was reducing the size of its marine seismic fleet to lower costs as it expects customers to cut exploration spending. Schlumberger said it would take a charge of $800 million to write down the value of six vessels and other WesternGeco assets in the fourth quarter ending December.

  • Schlumberger to reduce seismic fleet Tuesday, 2 Dec 2014 | 1:26 PM ET

    Dec 2- Schlumberger Ltd, the world's No.1 oilfield services provider, said it was reducing the size of its marine seismic fleet, as it expects customers to cut exploration spending. Schlumberger said it would take a charge of $800 million to write down the value of six vessels and other WesternGeco assets in the fourth quarter ending December.

  • *Saipem, Salzgitter slide as Russia scraps pipeline project. BP featured among the top gainers, up 3.6 percent, with several traders citing market talk of a takeover bid from rival Royal Dutch Shell. Shares in Italian oil services group Saipem and German steelmaker Salzgitter bucked the trend, tumbling 8.6 percent and 8 percent respectively after Russia...

  • *OPEC output 300,000 bpd above 30 million bpd target. Supply from the Organization of the Petroleum Exporting Countries averaged 30.30 million bpd in November, down from a revised 30.64 million bpd in October, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants. OPEC at its meeting in Vienna...

  • *Lithuania to import LNG to cut dependence on Russian gas. *Needs access to Latvia storage site to balance flows. But contracts providing third parties with access to the Incukalns underground gas storage site in Latvia are not transparent, which is hindering the emergence of a market, Lithuanian LNG importer Litgas said.

  • YOGYAKARTA, Indonesia/ JAKARTA, Dec 2- Indonesia's new administration plans a major expansion of oil storage and will construct more refineries as part of sweeping energy reforms that will also help in cracking down on any corruption in the state oil trader. In 2013, Indonesia's oil and gas sector made up over 7 percent of GDP in the $740 billion economy,...

  • JAKARTA, Dec 2- Indonesia's new administration plans a major expansion of oil storage and will construct more refineries as part of sweeping energy reforms that will also help in cracking down on corruption in the state oil trader. Sworn in just six weeks ago, President Joko Widodo launched the overhaul of the scandal-tainted oil and gas sector last Friday by...

  • NEW YORK, Dec 1- U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. The Organization of Petroleum Exporting Countries last week agreed to maintain its production quota of 30 million-barrels-per-day, despite a 30 percent drop in oil prices since June, triggering an additional 10...

  • European stocks knocked lower by commodity slump Monday, 1 Dec 2014 | 8:34 AM ET

    *Vodafone dips on worries over potential bid for Liberty Global. Shares in UK telecom group Vodafone sank 4.4 percent on talk it would bid for cable operator Liberty Global. Sources said Vodafone is reviewing potential acquisitions, including Liberty Global, to counter pending consolidation among rivals in Britain.

  • Oil services company Tullow Oil fell 7.1 percent while miner Glencore shed 4.3 percent. Adding to a more subdued market tone after a two-week rise for major European indexes, the U.S. National Retail Federation estimated sales over the full Thanksgiving weekend would show a decline of 11.3 percent from a year earlier, to $50.9 billion. European Central Bank...

  • NEW YORK, Dec 1- U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. The Organization of Petroleum Exporting Countries last week agreed to maintain its production quota of 30 million-barrels-per-day, despite a 30 percent drop in oil prices since June, triggering an additional 10...

  • Current-quarter gains for shipping companies such as Teekay Tankers Ltd and DHT Holdings Inc could last until the middle of next year as oil prices- currently at four-year lows- remain depressed. U.S. crude dipped below $70 a barrel on Thursday after Saudi Arabia blocked calls for output reductions from some members of the Organization of the Petroleum...