Oil supply running ahead of demand hasn't just pressured prices, it's also filling up storage space, potentially pushing crude toward another leg down.» Read More
FRANKFURT, Sept 22- Germany's Siemens AG has agreed to buy U.S. oilfield equipment maker Dresser-Rand Group Inc for $7.6 billion in cash, paying a relatively rich price to belatedly beef up its presence in the U.S. shale oil and gas industry.
*Siemens shares down 0.6 percent, Sulzer down 4.2 percent. FRANKFURT, Sept 22- Germany's Siemens has agreed to buy U.S. oilfield equipment maker Dresser-Rand for $7.6 billion in cash, aiming to catch up with arch-rival General Electric in a booming U.S. shale gas market.
ZURICH, Sept 22- Swiss pump maker Sulzer said it had ended talks over a merger with Dresser-Rand Group Inc after Germany's Siemens offered to buy the U.S. oilfield equipment maker for $7.6 billion. "Sulzer has terminated the talks with Dresser-Rand," Sulzer spokesman Verena Goelkel said in an emailed statement on Monday.
FRANKFURT, Sept 22- Industrial conglomerate Siemens AG said on Monday it would buy U.S. oilfield equipment maker Dresser-Rand Group Inc for $7.6 billion in a move that would significantly boost the German company's oil and gas business in North America.
Sept 22- Industrial conglomerate Siemens AG said on Monday it would buy U.S. oilfield equipment maker Dresser-Rand Group Inc for $7.6 billion, in a move that would significantly boost the German company's oil and gas business in North America.
The German industrial conglomerate Siemens AG is near an agreement to acquire U.S. oilfield equipment maker Dresser-Rand Group for all cash
NEW YORK/ LONDON, Sept 21- The German industrial conglomerate Siemens AG is near an agreement to acquire U.S. oilfield equipment maker Dresser-Rand Group Inc for all cash, people familiar with the matter said on Sunday.
The age of robots as mankind's master is beginning, but don't be Terminator-terrified. Profit from the rise of the machines.
Oil producers in condensate-heavy shale crude plays like the Eagle Ford and the western Permian Basin in Texas also could fetch better condensate prices if exported, as U.S. refiners have limited demand for it.
Pipeline companies are viewed by Wall Street as engines of growth, especially as the oil boom in the U.S. continues.
Demand is up for sand used in fracking, which blasts it into wells to crack rock and release oil and natural gas.
BP will use unmanned aircraft systems to conduct aerial surveys of Alaska's North Slope.
Freeport-McMoRan is selling its Eagle Ford Shale assets in Texas to an Encana subsidiary for $3.1 billion.
Oil-by-rail shippers have mostly ignored U.S. government requests for data that aim to prevent mishaps, officials said on Friday.
State regulators have linked earthquake activity in Ohio to fracking, confirming the suspicions of activists pushing for a ban.
Barry Davis, EnLink Midstream president & CEO, discusses details of the massive deal that mergers Devon Energy with Crosstex Energy and shares his thoughts on processing areas rich in shale oil. The biggest headwind is managing regulations, says Davis.
Creating an export-driven natural gas renaissance in the United States requires building infrastructure—and a lot of it.
BP won a legal reprieve in its effort to force the administrator of a settlement related to the 2010 Gulf of Mexico oil spill.
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.