*BP controlling wells at Valhall offshore field from land. *Norway is testing ground for new method. Unions say the move endangers safety, a top focus of regulators and the industry since BP's Macondo accident in the Gulf of Mexico in 2010, which killed 11 people and resulted in a massive oil spill.» Read More
Insight on the day's major selloff, with Ira Epstein, The Linn Group; Frank McGhee, Integrated Brokerage Services; Stephen Schork, The Schork Report; Komal Sri-Kumar, Sri-Kumar Global Strategies; and CNBC's Bob Pisani & Sharon Eppesron.
General Electric is paying $3.3 billion for Lufkin Industries to expand its oil and gas equipment business, reports CNBC's Mary Thompson. What this means for the company, with Daniel Holland, Morningstar, and Christopher Glynn, Oppenheimer & Co.
General Electric agreed to buy oilfield services provider Lufkin Industries to expand its profitable oil and gas business.
*Offers $88.50/ share; 38 pct premium to Friday close. April 8- General Electric Co said it will buy oilfield services provider Lufkin Industries Inc for about $3.3 billion to expand its oil and gas business.
Two pipeline spills have prompted new criticism from opponents of the proposed Keystone XL project, while raising questions about whether the government is adequately monitoring U.S. pipelines. The NYT reports.
NEW ORLEANS, March 25- The officer in charge of safety on Transocean's Deepwater Horizon drilling rig, destroyed in a BP well accident that caused the worst-ever U.S. offshore oil spill, said the post-blowout fire was too big to fight and the evacuation saved lives.
NEW ORLEANS, March 25- The Transocean Ltd officer in charge of safety on the Deepwater Horizon drilling rig, destroyed in a BP well accident that caused the worst U.S. offshore oil spill, said the post-blowout fire was too big to fight and that evacuation saved lives.
Outside North America, the number of rigs actually drilling for oil and gas averaged 1,277 in January and February, the highest since 1983, and more than double the number operating in 1999, according to rig counts published by oil field services company Baker Hughes International on its website.
*CNOOC expects higher output from UK North Sea assets. CNOOC has taken a controlling stake in the North Sea field central to the price of benchmark Brent crude and which, every time it shuts, can raise costs for some of China's oil imports. "We fully expect to increase production from the UK North Sea assets," CNOOC said in a statement to Reuters. "
Addison Armstrong, Tradition Energy, discusses whether the storm will impact energy prices.
CNBC's Sharon Epperson reports that even though gas prices have pulled back, futures are up over where they were a year ago. For the past 33 days, retail gas prices have climbed, she reports, and the national average is $3.75/gallon.
Winter storm Nemo has pushed fuel prices to fresh, 2013 highs, reports CNBC's Sharon Epperson.
Shares of Halliburton, the world's second-largest oilfield services company and the North American leader, rose nearly 5 percent on Friday to their highest levels for more than a year.
Jan 23- A glut of North American natural gas is weighing heavily on both drilling activity and pricing power for Baker Hughes Inc, the world's third-largest oilfield services company, which posted a 36 percent drop in quarterly profit on Wednesday.
Jan 23- Baker Hughes Inc, the world's third-largest oilfield services provider, reported a 36 percent fall in quarterly profit as both activity and pricing decreased in its main North American market. Larger rival Halliburton Co will reveal how it fared in an especially tough quarter for the industry when it posts fourth-quarter results on Friday.
Twenty-five foreign hostages escaped and six were killed on Thursday when Algerian forces launched an operation to free them at a remote desert gas plant, Algerian sources said, as one of the biggest international hostage crises in decades unfolded.
Dominic Schnider, Head of Commodity Research, UBS Wealth Management says platinum, palladium and silver will do well this year amid loose monetary policies and a recovery in the global economy.
ANCHORAGE, Alaska, Jan 7- A recovery team has refloated a Shell oil drilling rig that ran aground last week near an Alaska island and stands ready to start towing it on Monday, weather permitting.
Gasoline prices are up 8 cents in the past two weeks and will likely continue climbing through April. Experts say the 2013 national average will likely top out at about $3.95 a gallon.
An oil drilling rig owned by Royal Dutch Shell ran aground in Alaska after drifting in stormy weather, highlighting the serious risks of working in an offshore region where some in the industry see huge potential.