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  • *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...

  • BP shed 3.5 percent, Total sank 4.1 percent, Seadrill lost 4.6 percent and Saipem slipped 4.1 percent. A number of oil services firms including Seadrill have been forced to scrap their dividends as the sector struggles with the drop in crude prices, which is prompting oil majors to accelerate cost cutting efforts. "At $72 a barrel, we're well below the pain...

  • Germany's DAX enjoys longest winning run in 18 months Wednesday, 26 Nov 2014 | 12:25 PM ET

    *Seadrill sinks 18 pct after scrapping dividend. PARIS, Nov 26- European shares inched higher on Wednesday, with Germany's blue chip DAX index advancing for the 10th session in a row as investors bet on further monetary stimulus from the European Central Bank. Gains in stocks were capped by a renewed drop in shares of oil services companies, however, with Norwegian...

  • *Seadrill sinks 16 pct after scrapping dividend. PARIS, Nov 26- European shares rose on Wednesday, with Germany's blue chip index DAX advancing for the 10th straight session as investors bet on further monetary stimulus from the European Central Bank. Gains in stocks were capped by a renewed drop in shares of oil services companies, however, with Norwegian...

  • LAUNCESTON, Australia, Nov 26- China has done two surprising things in oil markets recently; pledging to be more open about its strategic stockpiling and buying crude very openly in the daily trading window in Singapore. Since 2009, China has tended to boost crude purchases when it judges prices to be cheap on a relative basis. The bulk of these extra purchases...

  • WILLISTON, N.D., Nov 21- Halliburton Co's $35 billion takeover of Baker Hughes Inc will create an oilfield services powerhouse in North Dakota with more than half the cementing market and a leading position in fracking, according to data seen by Reuters. The deal, announced on Monday, will help Halliburton better compete with global leader Schlumberger NV, as well...

  • *Oil services bounce back on Technip's offer for CGG. France's CGG jumped 23 percent on news of a 1.47 billion euro takeover offer from larger rival Technip, a bid that CGG rejected. Technip shares fell 6.9 percent, while Fugro surged 5.6 percent, Saipem rose 4 percent and TGS gained 4.4 percent.

  • *Technip offers 28 pct premium on CGG's closing price. *Technip shares down 6.5 pct, CGG up 26 pct. PARIS, Nov 20- French oil services firm CGG has rebuffed a 1.47 billion euro takeover offer from larger rival Technip, which wants to broaden the range of services it can offer cost-wary oil companies.

  • *Oil services bounce back on Technip's offer for CGG. France's CGG jumped 23 percent on news of a 1.47 billion euro takeover offer from larger rival Technip, a bid that CGG rejected. Technip shares fell 6.5 percent, while Fugro surged 4.1 percent, Saipem rose 2.2 percent and TGS gained 2.1 percent.

  • Nov 17- Halliburton Co will buy Baker Hughes Inc for about $35 billion in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger NV as falling oil prices threaten to erode demand. Halliburton said the offer was worth $78.62 per Baker Hughes share, based on Halliburton's closing on Nov. 12, when it was first disclosed that the...

  • Halliburton to buy Baker Hughes for $34.6 bln Monday, 17 Nov 2014 | 6:56 AM ET

    Nov 17- Halliburton Co, the world's second-largest oilfield services provider, said it would buy smaller rival Baker Hughes Inc for about $34.6 billion in cash and stock. Halliburton said the offer was worth $78.62 per Baker Hughes share, based on Halliburton's closing on Nov. 12. The offer is a 31 percent premium to Baker Hughes' Friday close on the New York Stock...

  • Nov 14- Oilfield services provider Halliburton Co is seeking to replace the board of smaller peer Baker Hughes Inc, as merger talks between the companies stalled. Baker Hughes said late on Friday that it had rejected Halliburton's initial proposal, which was made more than a month ago, in a deal that would create $2 billion in synergies after divestitures.