A move by London-based Subsea 7 to take a stake in Singapore's EMAS Chiyoda Subsea may provide a lifeline to the heavily-indebted oil and gas services firm.
HOUSTON, May 4- The oil industry's top equipment and services suppliers this week are hawking vastly cheaper ways of designing and equipping subsea wells, aiming to slash the cost of offshore projects to compete with the faster-moving shale industry. Gulf of Mexico, for instance, but production volumes there have remained strong due to the long lead times of...
March 24- Schlumberger NV said on Friday it would form a joint venture with Weatherford International Plc to deliver oilfield products and services for unconventional resource plays in the United States and Canada. The oilfield equipment maker will get a one-time $535 million cash payment from Schlumberger, the companies said in a joint statement.
HOUSTON, March 22- Royal Dutch Shell plc, Chevron Corp and Exxon Mobil Corp signaled the oil industry's return to the Gulf of Mexico' s deep waters with high bids in a government auction up 76 percent over a year ago. The auction of offshore oil and gas parcels received nearly $275 million in high bids, compared with $156.4 million a year ago. "Today's strong sale...
ProPetro CEO Dale Redman discusses the oil services company's IPO and the state of the oil market.
March 6- U.S. oilfield equipment maker Weatherford International Plc on Monday named Halliburton Co's chief financial officer, Mark McCollum, as president and chief executive officer. McCollum will be replaced at Halliburton, the world's No. 2 oilfield services provider, as interim CFO by Executive Vice President Robb Voyles. Weatherford said interim CEO...
March 6- U.S. oilfield equipment maker Weatherford International Plc said it has named Halliburton Co's chief financial officer, Mark McCollum, as president and CEO of the company.
Pipeline makers have a fossil fuel friendly president, but they face regional opposition and a burgeoning environmental movement.
A U.S. District Court judge on Monday denied a restraining order that would have halted work on the Dakota Access pipeline.
The movement to block the Dakota Access pipeline is taking on the diffuse, leaderless structure of Occupy Wall Street.
CNBC's Jackie DeAngelis reports President Trump's executive order on the Keystone Pipeline could mean construction will begin soon but there are restrictions on where the pipeline has to in made.
Shares of National Oilwell Varco were tracking for their best day since Nov. 30, 2016, after the energy firm posted a smaller-than-expected earnings loss.
Trump offered wrong information when he was arguing that U.S. pipeline makers should not use foreign pipes.
The tribe opposes the president's move to advance the Dakota Access pipeline and say they'll take legal action.
MARACAIBO, Venezuela, Dec 23- A legal strategy switch by Venezuela's state-owned oil giant PDVSA to portray itself as a victim in a massive bribery scheme detected by the U.S. government is unlikely to lead to compensation and may even backfire. In a case that shook the local oil industry, two prominent Venezuelan oil businessmen were arrested last year in the...
The merger of Baker Hughes and GE Oil & Gas creates a new type of oilfield services firm that defies easy comparisons to peers.
General Electric could announce a $30 billion deal with Baker Hughes as early as Monday, according to the Wall Street Journal (WSJ).
Shares of Transocean sank after the offshore oil services firm announced Reliance Industries has dropped a contract for one of its drilling ships.
Oklahoma is now the most earthquake prone state, according to federal data. In this case, the reason appears to be man-made.
CNBC's Brian Sullivan speaks with Brian Cothran, GE Oil & Gas, about the innovative technology GE is developing for energy companies to be more cost efficient.