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Schlumberger NV

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  • April 21- Baker Hughes Inc, which is being bought by Halliburton Co for $35 billion, said it expects "unfavorable market conditions" to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services. The rig count in North America, a region that accounts for 44 percent of Baker Hughes' revenue, has halved to 1,000 so far this year.

  • HOUSTON— Halliburton Co. has cut 9,000 jobs— more than 10 percent of its workforce— in about six months and is considering more cost-cutting moves as falling oil prices sap demand for its drilling help. Halliburton executives disclosed the job cuts Monday on a conference call with investors. Schlumberger and Halliburton help map underground oil and gas...

  • April 20- Halliburton Co's decision to cut fewer jobs and keep its logistics network intact to capitalize on its pending merger with Baker Hughes Inc could give Schlumberger NV an edge at a time when cost cuts look like the best way forward. "I think in the very near term, Schlumberger is going to make more money than Halliburton because it's not carrying the extra...

  • Halliburton Co. on Monday reported better-than-expected quarterly results after some hurtful cuts to offset a 60 percent plunge in oil prices from last June to January. In the last month, shares of Schlumberger, Halliburton, Baker Hughes Inc. and others are up more than 10 percent. Halliburton and Baker Hughes both rose almost 3 percent Monday.

  • April 20- Halliburton Co's quarterly profit beat analyst expectations by the biggest margin in at least eight quarters as cost cuts helped the oilfield services provider offset a steep fall in drilling in North America, its biggest market. Revenue fell by 4 percent to $7.05 billion in the first quarter, but beat analysts' average expectation of $6.96 billion,...

  • ITABORAÍ, Brazil, April 20- For the 20 men hanging on at the Pousada do Trabalhador, a 600- bed boarding house on the dusty outskirts of this boom town northeast of Rio de Janeiro, the dream that Brazil's oil wealth would bring a better life was over. The men are the latest victims of Brazil's biggest-ever corruption scandal, a multi-billion dollar graft scheme...

  • The assumption is that oil firms will finish work on those wells, known as "ducks" in the industry jargon, once oil prices recover further and North Dakota activates its tax relief in response to a long market slump. "You know you have an 800- pound gorilla that is potentially going to come after you if the price goes up," Jackson Hockley, an analyst at wealth manager...

  • *China cuts bank reserves, adds liquidity. Crude oil was also buoyed by China cutting bank cash reserves, the second industry-wide cut in two months, adding more liquidity to bolster slowing growth. Brent crude was up 80 cents at $64.25 a barrel by 0628 GMT.

  • *Iraqi Kurdish forces widen buffer around Kirkuk. SINGAPORE, April 20- Oil prices rose on Monday, extending last week's gains as a drop in the number of U.S. rigs drilling for crude pointed to lower supply later in the year, while China's latest stimulus measure also underpinned the market. Brent crude was up 70 cents at $64.15 a barrel by 0532 GMT.

  • *Iraqi Kurdish forces widen buffer around Kirkuk. SINGAPORE, April 20- Oil prices rose on Monday, extending last week's gains as a drop in the number of U.S. rigs drilling for crude pointed to lower supply later in the year, while China's latest stimulus measure also underpinned the market. Brent crude was up 72 cents at $64.17 a barrel by 0324 GMT.

  • The drilling recovery will likely to be slower to emerge due to a growing reserve of wells that have been drilled but not yet hydraulically fractured and increased activity in re-fracking wells that are running dry, Schlumberger Ltd Chief Executive Paal Kibsgaard said in a conference call Friday. Schlumberger expects the rebound in U.S. onshore drilling "...

  • American Express and Mattel are big market movers Friday, 17 Apr 2015 | 4:34 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:. American Express Co., down $3.59 to $77.32. Honeywell International Inc., down $2.22 to $101.70.

  • April 17- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to combat a decline in drilling activity. Schlumberger shares rose as much as 3.3 percent to a near-five-month high of $94.89 on Friday, a day after the company reported a...

  • Grexit fears in Europe cause flight to safety Friday, 17 Apr 2015 | 10:22 AM ET
    Traders on the floor of the New York Stock Exchange.

    Investors piled into safe harbors as fears rose over a Greek exit on Friday, sending bond yields tumbling.

  • Schlumberger shares rise as cost cuts impress Friday, 17 Apr 2015 | 9:52 AM ET

    April 17- Schlumberger Ltd's shares rose as much as 3.3 percent on Friday, after tight cost controls helped the world's No.1 oilfield services provider report higher-than-expected margins in the first quarter. While Schlumberger said on Thursday that lower activity and pricing pressure led to a 9 percent drop in quarterly revenue, profits came in well ahead...

  • Schlumberger is cutting another 11,000 jobs, bringing the total to 20,000 this year, as slumping oil prices squeeze the world's largest oilfield services companies. Schlumberger's profit tumbled 39 percent in the first quarter with oil companies cutting back on production in North America. Schlumberger has slashed spending to adapt, yet the fall-off has...

  • Early movers: GE, HON, GS, AXP, MAT, VZ & more Friday, 17 Apr 2015 | 7:49 AM ET
    A trader works on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • UPDATE 2-Schlumberger to cut 11,000 more jobs Thursday, 16 Apr 2015 | 6:31 PM ET

    April 16- Schlumberger Ltd said it would cut a further 11,000 jobs and reduced its capital spending plan for this year as the world's No.1 oilfield services provider prepares for an extended period of lower activity and pricing pressure, especially in North America. The lower activity and pricing pressure led to a 9 percent drop in Schlumberger's...

  • April 16- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a 38.8 percent drop in quarterly profit and said it would cut a further 11,000 jobs, blaming the fall in drilling activity, particularly in North America. Net income attributable to Schlumberger fell to $975 million, or 76 cents per share, in the first quarter ended March 31, from...

  • Schlumberger cuts 11K more jobs as drilling falls Thursday, 16 Apr 2015 | 5:42 PM ET
    Rig hands from Schlumberger Ltd. And Cofor work on the floor section of a drilling rig at the geothermal energy extraction site operated by Semhach SA in Villejuif, France.

    Oil equipment provider Schlumberger on Thursday said it would cut an additional 11,000 jobs, which brings the total number of cuts to 20,000.