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Baker Hughes Inc

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  • NEW YORK, May 14- After 20 years in the oil business, Craig Reed, 62, is thinking about winding down his career just as a second downturn in six years rocks the industry. For him, it is maybe two more projects and then retirement beckons, with a holiday home in Maine that needs work. Industry data show energy firms have cut at least 125,000 jobs worldwide since crude...

  • May 13- Oilfield giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have fallen more than 40 percent since June. Houston- based Schlumberger also said last month that it plans to cut another 11,000 jobs, bringing the total job cuts...

  • NEW YORK, May 12- The U.S. government on Tuesday lowered its 2015 and 2016 crude oil production growth forecasts amid lower prices and fewer active drilling rigs. OPEC cut its forecast for the growth in U.S. oil output this year by 40,000 bpd to 700,000 bpd. It left the estimate for all non- OPEC countries' supply growth unchanged.

  • OSLO, May 12- Oil services firm Subsea 7 plans to cuts its workforce by close to 20 percent and reduce its fleet of 39 vessels by up to 11 as global oil and gas firms continue to cut spending after a plunge in crude oil prices dampened activity levels. Subsea 7, which focuses on the North Sea but has a global operation, expects to cuts it workforce by around 2,500 by early...

  • *Permian Basin rig count up for first time in 2015- Baker Hughes. NEW YORK, May 11- Oil came under pressure on Monday on signs a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies. U.S. crude futures were down 49 cents at $58.90 a barrel by 11:48 a.m. EDT.

  • *China cuts interest rates for third time in 6 months. *Permian Basin rig count up for first time in 2015- Baker Hughes. LONDON, May 11- Oil slipped towards $65 a barrel on Monday as signs that U.S. shale oil production was recovering after a recent price rally renewed concerns of a growing global supply glut.

  • *China cuts interest rates for third time in 6 months. *Permian Basin rig count up for first time in 2015- Baker Hughes. LONDON, May 11- Oil slipped below $65 a barrel on Monday as signs that U.S. shale oil production was recovering after a recent price rally renewed concerns of a growing global supply glut.

  • *China cuts interest rates for third time in 6 months. LONDON, May 11- Oil rose towards $66 a barrel on Monday after China moved to bolster its flagging economy, raising hopes that the world's top energy consumer would help absorb a global supply glut. Data on Friday showed China ahead of the United States as the world's top oil importer in April, as the Asian economy...

  • *China cuts interest rates for 3rd time in 6 months. *Permian Basin rig count up for first time in 2015- Baker Hughes. SINGAPORE, May 11- Crude futures were little changed on Monday as moves by China to bolster its flagging economy failed to instil confidence that oil demand in the world's largest energy consumer would improve quickly to absorb a global supply glut...

  • *Average hourly earnings rise three cents. WASHINGTON, May 8- U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 percent, suggesting underlying strength in the economy at the start of the second quarter that could keep alive prospects for a Federal Reserve rate hike later this year. "We see this report as reducing...

  • Energy companies increased by one each the number of oil rigs in the Permian basin of West Texas and eastern New Mexico- the biggest and fastest growing U.S. shale oil field- and in the Barnett in Texas. That was the first increase in the Permian since December and the first in the Barnett since March, oil services company Baker Hughes Inc said on Friday.

  • *China's April crude imports up; may be stockpiling. NEW YORK, May 8- Brent oil posted its first weekly loss in a month on Friday as the market fretted again about global oversupply while U.S. crude rose for an eighth straight week, helped by jobs growth data and the first storm of the hurricane season forming. In Friday's session, Brent, the more globally-used...

  • WTI ends up, but Brent falls after rig count data Friday, 8 May 2015 | 2:38 PM ET
    An oil pump jack in the oil town of Gonzales, Texas.

    US oil prices settled higher after oilfield services firm Baker Hughes reported that the U.S. oil rig count fell for the 22nd consecutive week.

  • NEW YORK, May 8- Brent crude eased while U.S. crude rose in choppy trading, supported by job additions in the United States and the formation of the first named storm in the Atlantic ahead of the official start of the hurricane season. Supportive, especially to U.S. crude, was news that nonfarm payrolls increased 223,000 in the United States in April, even though March...

  • *Average hourly earnings rise three cents. WASHINGTON, May 8- U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 percent, signs of a pick-up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year. "We see this report as reducing concerns that weak first-quarter growth...

  • *China's April crude imports up; may be stockpiling. "Though the data showed U.S. crude inventories fell last week, the products inventories were up, so it looks like the crude is just being turned into products," said Dominick Chirichella, senior partner at the Energy Management Institute in New York. Brent June crude was down 81 cents at $64.73 a barrel at 11:02 a.m....

  • LONDON, May 8- Brent crude oil edged higher on Friday as strong Chinese crude imports eased concerns over a growing supply glut. Benchmark Brent crude was at $65.90 per barrel at 1402 GMT, up 36 cents, yet on track for a near 1 percent weekly decline. "The report should prove supportive of crude oil prices and produce strong gasoline demand, as employees drive to the...

  • *Average hourly earnings rise three cents. WASHINGTON, May 8- U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 percent, signs of a pick-up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year. Nonfarm payrolls increased 223,000 as gains in services sector jobs...

  • LONDON, May 8- Crude oil prices edged higher on Friday, set for their first weekly decline in more than a month as strong Chinese crude imports eased concerns over a growing supply glut. Benchmark Brent crude was at $65.83 per barrel at 1145 GMT, up 29 cents after hitting a session high of $66.01, on track for a 1 percent weekly decline. "The small drop in U.S. production in...

  • WASHINGTON, May 8- U.S. job growth likely rebounded last month and the unemployment rate probably dropped to a near seven-year low, signs of a pick up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year. The Labor Department will release its closely followed employment report at 8:30 a.m. on Friday.