As political tensions rise, the cooperation between the U.S. and Russia in the energy industry is large and growing, experts at IHS CERAWeek say.» Read More
LONDON, March 4- Drilling for oil and gas deposits outside North America has hit the highest level in three decades, led by big exploration and production programmes in the Middle East and Africa. The boom is being led by the Middle East, where the number of rigs operating has tripled since 1999, and Africa, where the rig count is up almost four times.
Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another as it struggles with weak demand in North America, and has identified 6,192 positions for job cuts as part of a previously announced plan.
Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another and lay off 6192 employees as it struggles with weak demand in North America. The company, which is being probed for violations of the United Nations oil-for-food program in Iraq, on Tuesday also reported a wider quarterly net loss.
NEW YORK, Feb 21- U.S. natural gas futures for March climbed more than 5 percent early Monday to their highest level since December 2008 on forecasts for continued cold before paring gains later in the morning.
Jan 30- Oilfield services company Weatherford International Ltd said it would cut 7,000 jobs and warned that its fourth-quarter profit would miss its forecast, hurt by severe winter in North America and operational disruptions in the Middle East.
LONDON, Jan 30- Cutting the cost of everything from salaries and steel pipes to seismic surveys and drilling equipment is the central challenge for the oil and gas industry over the next five years.
CNBC's Morgan Brennan explains how emerging markets helped Schlumberger, Baker Hughes and Halliburton beat fourth-quarter earnings expectations.
Jan 21- Oilfield service companies Halliburton Co and Baker Hughes Inc said they expect an improvement in North American margins, driven by a modest pickup in onshore activity and strong deepwater drilling in the Gulf of Mexico.
Some of the names on the move ahead of the open.
*Lenovo resumes talks to buy IBM's low-end server unit. *Travelers Cos Inc gained 2.4 percent to $88.50 in light premarket trading after the insurance provider posted a more than three-fold rise in fourth-quarter profit. *Other Dow components due to report earnings on Tuesday include Verizon Communications Inc, Johnson& Johnson IBM.
Jan 17- Schlumberger Ltd, the world's largest oilfield services company, posted a better-than-expected fourth-quarter profit on Friday as robust international activity offset stiff competition in North America.
Jan 17- Schlumberger Ltd, the world's largest oilfield services company, reported a better-than-expected 22 percent jump in fourth-quarter profit as robust international drilling activity made up for weakness in North America. Most of Schlumberger's gains in North America came from the U.S.
NEW YORK, Jan 17- A handful of energy firms are rushing their rigs to several counties in southern Oklahoma, convinced they've found the next shale play to expand America's oil boom. Oil rigs in Oklahoma jumped 17 last week to 155, according to Baker Hughes, the biggest one-week increase in three years.
Jan 10- Baker Hughes Inc, the world's third-largest oilfield services company, estimated fourth-quarter profit well below Wall Street expectations, largely due to the suspension of its operations in Iraq following a protest.
Jan 10- U.S. oilfield services company Baker Hughes Inc estimated fourth-quarter profit well below Wall Street expectations, largely due to the suspension of its operations in Iraq following a protest. Baker Hughes halted activities in Iraq in November and issued force majeure notices to customers after a protest at a facility near the southern town of Basra.
The "Fast Money" traders share their final trades of the day.
*E&P spending to rise more than 7 pct in North America. The Big Oil companies-- Exxon Mobil Corp, Chevron Corp, Royal Dutch Shell Plc and Total SA and BP Plc-- though not targeted by activist investors are also under pressure to boost returns.
*Gazprom Neft postpones project start-up. Work by the likes of BP and Exxon Mobil boosted output by 600,000 barrels per day to top 3 million bpd in 2012..
Dozens of angry Shi'ite Muslim workers and tribesmen stormed the Schlumberger Ltd camp in North Rumaila and wrecked offices early on Monday after accusing a foreign security adviser of insulting their religion, police and employees at the field said.
*Caterpillar has dominant position in market for rig engines. HOUSTON, Nov 12- General Electric Co is trying to deploy more of its natural gas engines on rigs drilling for hydrocarbons in the North American energy boom- where Caterpillar Inc diesel engines have long been the industry standard.