Iran is offering more flexible terms on oil price fluctuations and investment risks to make the sector attractive, the Financial Times reports.» Read More
*Iran paid $87 mln for Romanian rig to bypass sanctions. DUBAI, Sept 4- Four years after Iran spent $87 million to buy an oil drilling rig that was never delivered, the broker in the deal has given his side of a story he describes as a cautionary tale for Western investors impatient for an end to sanctions. Over the last several months, "the case of the missing rig" has...
*Iran paid $87 mln for Romanian rig to bypass sanctions. *Broker says he is targeted by interests in Tehran. DUBAI, Sept 4- Four years after Iran spent $87 million to buy an oil drilling rig that was never delivered, the broker in the deal has given his side of a story he describes as a cautionary tale for Western investors impatient for an end to sanctions.
Italian energy group Eni said it had discovered potentially one of the world's largest natural-gas fields off the Egyptian coast.
Stephen Gengaro, oil services analyst at Sterne Agee, discusses the $14.8 billion acquisition of drilling equipment maker Cameron International by oil services provider Schlumberger.
A Schlumberger-Cameron International deal may bring about an oil industry breakthrough.
Chevron earnings fell well below expectations Friday, raising new questions about shareholder returns at a time when oil prices are sliding again.
July 28- National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, reported a higher-than-expected quarterly profit as cost cuts helped offset the impact of a fall in global drilling activity. Expenses fell more than 18 percent to $417 million in the second quarter ended June 30 from a year earlier, the company said. Net income attributable to the...
July 28- National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, reported a 53 percent fall in quarterly profit as a steep decline in commodity prices weighed on demand and prices for its products. Net income attributable to the company fell to $289 million, or 74 cents per share, in the second quarter ended June 30, from $619 million, or $1.44 per...
International energy, financial and manufacturing firms all stand to gain from lifted Iranian sanctions.
July 13- Royal Dutch Shell PLC said on Monday an icebreaker crucial to planned Arctic oil drilling will be sent to Portland, Oregon to repair a gash in its hull, but the issue is not expected to delay the beginning of drilling off Alaska later in July. Voyage time between Portland and southern Alaska should not delay the company's plans to begin drilling off...
*New York state factory activity gauge falls in June. WASHINGTON, June 15- U.S. industrial production unexpectedly fell in May as manufacturing and mining activity remained weak, a sign that a strong dollar and spending cuts in the energy sector continued to constrain economic growth. Looking ahead, production is likely to stabilize when the oil industry...
Lower oil prices could exacerbate potential labor shortages in the energy industry, according to The Times-Picayune.
Blackstone Group has strengthened its ties to Nigeria, the West African country where it could put big money to work.
LONDON, June 9- Cost-cutting is set to remain the main focus for the oil industry for at least the next two years as petroleum producers adjust to an environment of much lower prices. If the boom was characterised by an emphasis on ambitious and complex engineering and technology projects, the downturn has brought a renewed focus on simplification and...
Technology made the US oil shale boom. New technology may allow oil giants Saudi Arabia and Norway to become the next fracking boomers.
U.S. oil inventory and capex falls may boost prices modestly near term, but production growth is still too strong for substantial gains, Goldman said.
The energy industry's failure to use the data it collects means it's not as efficient as it could be, leaving money on the table.
With oil's price collapse, we can now declare that OPEC's reign as king of the market is over.
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.
Activist hedge funds are buying stakes in North American oil and gas producers whose stocks have fallen because of the collapse of energy prices.