Energy Equipment and Services


  • WASHINGTON, Nov 26- Oilfield services firm Weatherford International will pay $253 million in fines to the U.S. government to settle charges that ranged from flouting sanctions against Iran and Syria to sending business partners on World Cup soccer junkets, officials said on Tuesday.

  • Weatherford was charged with exporting oil and gas equipment to Iran, Syria, Sudan and Cuba in violation of sanctions, and exporting prohibited items tied to nuclear non-proliferation to Venezuela and Mexico.

  • Nov 26- Oil services company Weatherford International Ltd said it would pay $253 million to settle longstanding charges brought by U.S. regulators. The charges against the company include work in sanctioned countries, Foreign Corrupt Practices Act breaches and violations in the Iraq oil-for-food program.

  • DUBAI, Nov 25- The easing of a ban on European insurance for shipments of Iranian oil may lift Iran's crude exports to big oil buyers in Asia, including India and China. The easing of EU shipping insurance sanctions was part of a deal on Sunday between Iran and six world powers to curb Tehran's nuclear programme in exchange for limited sanctions relief.

  • Nov 19- Russian state-run oil company Rosneft is in talks with Morgan Stanley on buying into the Wall Street bank's oil trading business, an industry publication and two industry sources said on Tuesday.

  • LONDON, Nov 19- Oil exports from Libya's western Mellitah port have resumed after protests ended, allowing a large oilfield to ramp up production and providing some respite from a crisis that has crippled its economy.

  • NYMEX-US crude dips with Iran talks in focus Sunday, 17 Nov 2013 | 8:01 PM ET

    PERTH, Nov 18- U.S. crude oil futures slipped in early Asian trading on Monday after a U.S. official said that an agreement to curb Iran's nuclear program is "quite possible" this week. Major powers and Iran are scheduled to meet in Geneva on Nov. 20-22.

  • NEW YORK, Nov 15- Oil futures were moderately higher in choppy trading on Friday supported by Libyan supply outages and supportive comments from the Fed chair nominee, but gains were limited by reports that a deal with Iran may be near on its nuclear program.

  • NEW YORK, Nov 15- Oil futures turned lower on Friday on reports that Western powers may reach a deal with Iran as early as next week on its nuclear program. Sanctions against Iran because of its nuclear program have kept some 1 million barrels of oil off the global market. Brent crude was 47 cents lower at $107.81 at 12:04 p.m. EST after trading as high as $108.65.

  • Oil markets were consolidating after absorbing a week's worth of news of Libyan supply outages, negotiations over Iran's nuclear program, and supportive comments from President Barack Obama's nominee to lead the Fed. Brent crude was up 3 cents at $108.31 a barrel at 11:03 a.m. EST and looked set for a weekly gain of 3 percent.

  • COLUMN-Shale 2.0, going global: Kemp Friday, 15 Nov 2013 | 9:57 AM ET

    LONDON, Nov 15- How quickly the shale revolution spreads from North America to the rest of the world is the single most important factor affecting the outlook for oil and gas markets over the next two decades.

  • LONDON, Nov 15- Ageing North Sea fields are being abandoned by oil majors and increasingly rely on national oil companies from countries such as China and large service providers to keep the oil- and tax revenues- flowing.

  • Unrest in Libya has also supported oil prices, with output down to a fraction of its production capacity of 1.25 million barrels a day. Protests at oil ports have cost Libya more than $6 billion and started hitting power supplies in the North African country.

  • SINGAPORE, Nov 15- Brent oil held above $108 a barrel on Friday, heading for its biggest weekly gain since early July on expectations the Federal Reserve will stick with its easy money policy for now.

  • SINGAPORE, Nov 15- Brent oil held above $108 a barrel on Friday, heading for its biggest weekly gain since early July on expectations the Federal Reserve will stick with its easy money policy for now.

  • SINGAPORE, Nov 15- Brent oil futures held above $108 a barrel on Friday, heading for its biggest week since early July on expectations the Federal Reserve will stick with its easy money policy for now.

  • INSIGHT-The sour gas eating Kashagan oil profits Thursday, 14 Nov 2013 | 9:30 AM ET

    MILAN/ ALMATY, Nov 14- A pipeline inspection robot is set to join efforts to discover why the biggest new oilfield in decades is crippled and whether materials, construction methods, a design fault or all three are at the root of the problem.

  • ANALYSIS-Contractors squeezed as oil budgets tighten Wednesday, 13 Nov 2013 | 6:15 AM ET

    LONDON, Nov 13- Under pressure from their shareholders to spend less, international oil companies are demanding cheaper and simpler services, equipment and engineering, a red flag for contract firms which rely heavily on their needs. The Thomson Reuters index of 164 global oil services companies is up some 70 percent since 2010..

  • LONDON, Nov 7- China may have overtaken the United States as the world's biggest oil importer, but America is now the land of opportunity for traders looking to profit off energy markets, thanks to changes brought by the shale gas revolution.

  • *Gavilon has oil storage and pipelines in Oklahoma, Texas, Louisiana. Nov 6- U.S. energy logistics firm Gavilon LLC has kicked off the first of several big trading house deals that are set to recast the market landscape in a $890 million sale to propane gas supplier NGL Energy Partners LP.

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