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  • Jan 15- Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce, as it focuses on controlling costs amid plummeting oil prices. Schlumberger had said last month that it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels. Schlumberger's customers- oil...

  • Schlumberger to cut 9,000 jobs on oil-price plunge Thursday, 15 Jan 2015 | 5:39 PM ET

    Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce.

  • Schlumberger revenue rises 6 pct Thursday, 15 Jan 2015 | 4:31 PM ET

    Jan 15- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a 6 percent rise in quarterly revenue, helped by efficiency improvements in North America and resilient drilling activity in the Middle East and Asia. Net income attributable to the Houston, Texas- based company fell to $302 million, or 23 cents per share, in the fourth quarter ended...

  • LONDON, Jan 14- U.S. crude production is set to rise by another 300,000 barrels per day to a temporary peak in May, according to the U.S. Energy Information Administration, before declining over the summer. STEO forecasts production will climb from 9.15 million bpd in December 2014 to reach a temporary high of 9.47 million bpd by May 2015. This production profile is...

  • LONDON, Jan 14- California's oil industry is being hit harder than any other state by falling prices because of the comparatively poor quality of its crude and its aging fields. The California rig count is the lowest since October 2009, when producers were struggling with low prices in the aftermath of the global financial crisis and deep recession that began a...

  • *Older tankers being booked to store oil, boon for owners. *Last oil storage play seen in 2009. LONDON, Jan 13- Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea in recent days, seeking to take advantage of the crash in crude prices and make a profit down the line.

  • Jan 13- Oil and gas producer Newfield Exploration Co said it would retain its assets in China, saying a slump in oil prices had created "headwinds" in the sale process. "The recent and significant pull back in global oil prices created headwinds for our China sales process... Hong Kong- listed oil trader and shipping firm Brightoil Petroleum Holdings had held talks...

  • NEW YORK, Jan 13- Oil prices fell by up 3 percent to near six-year lows on Tuesday, with Brent briefly trading at par to U.S. crude for the first time in three months as some traders moved to take advantage of ample storage space in the United States. Brent was down $1.48 at $45.95 a barrel by 1850 GMT, after falling to $45.19, its lowest since March 2009.

  • *Older tankers being booked to store oil, boon for owners. *Last oil storage play seen in 2009. LONDON, Jan 13- Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea in recent days, seeking to take advantage of the crash in crude prices and make a profit down the line.

  • OIL TRADERS BOOK 12 OIL TANKERS TO STORE CRUDE AT SEA- SHIPPING SOURCES.

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Jan 13- The rise in China's imports of crude oil above 7 million barrels per day for the first time looks impressive, but is it likely to be sustained? In a rare announcement, China said on Nov. 20 it had filled the first phase of its strategic petroleum reserve, which holds about 91 million barrels, enough for...

  • BEIJING, Jan 13- China imported a record 7.15 million barrels of crude oil a day in December, customs data showed on Tuesday, as the world's second largest oil consumer took advantage of low oil prices to fill its strategic reserves. China imported 30.37 million tonnes of crude oil for the month, the data showed, just shy of earlier estimates by Thomson Reuters Oil...

  • NEW YORK, Jan 12- The U.S. oil storage trade is back- and may be bigger than ever. Six years ago, the financial crisis led to a sudden surplus of oil and a collapse in prices, spurring a classic low-risk trade that's set to make a comeback: buying crude to store in onshore tanks or floating tankers, since oil costs $8 a barrel less now than what futures buyers will pay in a year.

  • *Brent breaks below $49, US crude under $48; low since April 2009. Benchmark Brent crude broke below $49 a barrel but returned to above the $50 support level it had seen earlier in the week after oil services firm Baker Hughes reported the largest drop in 24 years in U.S. drilling rigs. "In my opinion we have not stabilized out yet, but the rig data and some short-covering...

  • NEW YORK, Jan 8- Sue Ann Arnall, the ex-wife of Oklahoma oil magnate Harold Hamm, has deposited a handwritten $975 million divorce check, Hamm's lawyer said on Thursday, in a move that may end an epic divorce battle over a fortune worth billions. In the November ruling by an Oklahoma County Court judge, Hamm, the chief executive of Continental Resources was allowed to...

  • LONDON, Jan 7- Unless prices recover, U.S. oil production will start falling before the end of 2015 as new drilling is insufficient to replace declining output from wells completed in 2013 and 2014.. Decline curves for typical shale wells in the Bakken, the Permian Basin and the Eagle Ford are all widely available on the internet, as are basic data on the number of...

  • Jan 6- Harold Hamm, the chief executive of oil driller Continental Resources who is embroiled in a bitter divorce, offered to pay his former wife $974.8 million, but she rejected a hand-written check, lawyers for both sides said on Tuesday. Hamm's offer would have paid his ex-wife, Sue Ann Arnall, immediately the full cash value of what he owes based on a November...

  • Jan 6- Harold Hamm, chief executive of oil driller Continental Resources who is embroiled in a bitter divorce, offered to pay his former wife $974.8 million, but she rejected a hand-written check delivered to her legal team, his lawyer said on Tuesday. Hamm's offer to pay ex-wife Sue Ann Arnall immediately the full cash value of what he owes based on a November...

  • Jan 6- United States Steel Corp said it would temporarily idle its pipe manufacturing plant in Lorain, Ohio and lay off 614 workers, largely due to weak demand from the oil industry. Canada's Crescent Point Energy Corp, for example, said on Tuesday it would cut its spending by about 28 percent in 2015.. Oil service companies Schlumberger Ltd and Civeo Corp have also...

  • LONDON, Jan 5- "Don't try to catch a falling knife" is sage advice for investors trying to identify the trough in a market like oil following a sharp selloff. Prices realised by oil producers in Texas have fallen below $50 per barrel and those for producers in North Dakota are sub- $40.. Continental Resources, one of the largest producers in the Bakken, revised its...