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OPEC on Wednesday slashed its estimate of how much crude oil it will need to produce next year. And the Energy Department on Wednesday reported a surprise increase in U.S. crude supplies. Benchmark U.S. crude slumped 4 percent Wednesday, or $2.60, to $61.23 a barrel.
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Dec 3- Schlumberger Ltd, the world's No.1 oilfield services provider, said it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels as it trims its operations in response to slumping oil prices. Schlumberger on Tuesday had also said the quarter's results would also include a $800 million charge to write down the value of six...
Barclays became the first big Wall Street firm to upgrade a major oil stock in the wake of the crash in oil prices.
Dec 2- Schlumberger Ltd, the world's No.1 oilfield services provider, said it was reducing the size of its marine seismic fleet to lower costs as it expects customers to cut exploration spending. Schlumberger said it would take a charge of $800 million to write down the value of six vessels and other WesternGeco assets in the fourth quarter ending December.
Dec 2- Schlumberger Ltd, the world's No.1 oilfield services provider, said it was reducing the size of its marine seismic fleet, as it expects customers to cut exploration spending. Schlumberger said it would take a charge of $800 million to write down the value of six vessels and other WesternGeco assets in the fourth quarter ending December.
Oil producer and driller stocks are falling after oil's dip, but other energy companies are also seeing their stocks drop.
U.S. stocks closed mixed on Black Friday amid a slide in oil prices following OPEC's announcement that it would not cut its output.
U.S. stock futures were trading mostly lower on Friday, after global markets were hit by OPEC's announcement that it would not cut its output.
Some of the names on the move ahead of the open.
SOCHI, Russia, Nov 25- Russia's Gazprom Neft, the oil arm of the world's top gas producer Gazprom, agreed on Tuesday to develop Russia's Dolginskoye offshore Arctic oil field jointly with Vietnamese state energy company Petrovietnam. A Reuters correspondent at the signing ceremony also said the companies signed a deal under which Gazprom Neft will supply...
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...
*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.
A sale of parts of Halliburton's business to appease regulators could be a game-changer for smaller oilfield services companies, analysts say.
SINGAPORE, Nov 18- U.S. crude edged lower towards $75 a barrel in early Asian trade on Tuesday, as oil prices struggle to find a floor ahead of next week's critical OPEC meeting. *Venezuela's President Nicolas Maduro said on Monday that a special global meeting was being planned "very soon" between OPEC and non- OPEC nations to discuss global oil prices.
WASHINGTON, Nov 17- Halliburton Co will have a tough time convincing U.S. regulators to approve its $35 billion deal to buy smaller rival Baker Hughes Inc but could prevail with the right divestitures, antitrust experts said Monday. Halliburton and Baker Hughes, which have already reached out to the U.S. Department of Justice, will argue that the government...
Halliburton on Monday agreed to buy Baker Hughes in a cash and stock deal valued at $34.6 billion.
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...
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.
NEW YORK, Nov 14- Talks that could lead to oilfield services provider Halliburton Co buying rival Baker Hughes Inc may herald increased deal-making in the energy business as companies bet on a protracted drop in oil prices, industry bankers said. The Baker Hughes/ Halliburton talks have stalled after the companies weren't able to agree on issues including...