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Oil and Gas Energy Equipment and Services

  • LONDON, Sept 20- Lukoil is seeking to sell its ISAB oil refinery complex in Italy as part of the Russian firm's review of its overseas operations, two industry sources said on Wednesday. Lukoil, Russia's second largest oil producer, has offered financial and technical data about the complex to potential buyers in order "to test the market's appetite," one of the...

  • Louisiana and Texas each lost three rigs. Colorado, New Mexico and North Dakota each shed one. Alaska, California, Ohio, Oklahoma, Pennsylvania, Utah and Wyoming were unchanged.

  • LONDON, Sept 14- Forward U.S. oil prices for 2018 have climbed back above $50 per barrel, a level that should be high enough to stabilise drilling activity over the next two months. Between February 2016 and January 2017, the progressive increase in forward prices encouraged shale producers to boost output by hiring extra drilling rigs. Forecasts by the U.S. Energy...

  • BISMARCK, N.D.— North Dakota oil drillers and U.S. But the title was given to a formation in Texas' Permian Basin last year, after a USGS assessment found nearly three times the amount of recoverable oil than in the Bakken and Three Forks formations. Hoeven now wants the USGS to take into account other formations in western North Dakota's oil patch that could be...

  • LONDON, Sept 14- Forward U.S. oil prices for 2018 have climbed back above $50 per barrel, a level that should be high enough to stabilise drilling activity over the next two months. Between February 2016 and January 2017, the progressive increase in forward prices encouraged shale producers to boost output by hiring extra drilling rigs. Forecasts by the U.S. Energy...

  • PARIS, Sept 14- French investors owning bonds in oil services group CGG, which filed for bankruptcy in June, said they had launched a legal action to protest against the move. The legal action was launched by Schelcher Prince Gestion, HMG Finance, La Financiere de lEurope, Keren Finance and Delta AM. CGG, which has debts in excess of $3 billion, could be one of the biggest...

  • More than two dozen storage tanks holding crude oil, gasoline and other contaminants ruptured or otherwise failed when Harvey slammed into the Texas coast, spilling at least 145,000 gallons of fuel and spewing toxic pollutants into the air, according to an Associated Press analysis of pollution reports submitted to state and federal regulators.

  • North Dakota, Pennsylvania and West Virginia each gained one. Arkansas, Colorado and Louisiana were down one rig each. California, Ohio, Oklahoma, Texas, Utah and Wyoming were all unchanged.

  • HOUSTON, Sept 8- The world's largest oilfield services company, Schlumberger NV, is spending billions of dollars buying stakes in its customers' oil and gas projects- investing in the same ventures it supplies with equipment and expertise. The new business model gives Schlumberger a say in drilling decisions, oilfield management and even on hiring other...

  • *A portion of barrels moved to Caribbean due to Harvey now locked. HOUSTON, Sept 7- Monster Hurricane Irma has shut down oil terminals across the northern Caribbean, worsening a fuel supply crunch in Latin America which is struggling to meet demand since Hurricane Harvey disrupted shipments from the U.S. Gulf Coast last month. The Caribbean has the capacity to...

  • *Barrels moved to Caribbean due to Harvey now threatened. HOUSTON, Sept 7- Hurricane Irma has shut down oil terminals across the northern Caribbean, worsening a fuel supply crunch in Latin American countries that have struggled to meet demand since Hurricane Harvey disrupted shipments from the U.S. Gulf Coast last month. There is over 100 million barrels of...

  • MIDLAND, Texas, Sept 7- When Joe Forsythe returned to the West Texas oilfields last year after a stint in a drug rehab facility, he figured he had beaten his addiction to methamphetamine. Drug use is a significant factor in workplace injuries and crimes involving oilfield workers, according to drug counselors, hospital and police officials and court records in...

  • However, the company's shares rose 2 percent as adjusted net profit for the first half of $158 million beat analysts' consensus of $142 million, investment bank Jefferies said in a note. Petrofac cut its full-year capital expenditure guidance to $200- $250 million from $300- $350 million, in an effort to reduce its debt, which rose to $1 billion at the end of June, up...

  • Bulls vs. bears: The MLP energy debate

    Rob Sechan of UBS Private Wealth Management debates investing in energy Master Limited Partnerships with the Halftime Traders.

  • PARIS, Aug 25- Shares in debt-ridden oil services group CGG surged for a fourth consecutive day on Friday, with traders and fund managers citing continuing speculation of a bid from China's Sinopec as the main driver for the rally. "We're still in the same trend, namely talk of interest from Sinopec, but it's really still just speculation," said one Paris- based fund...

  • *Kuwait, Brunei and Azerbaijan supplying Vietnam with crude. SINGAPORE, Aug 18- Vietnam's crude oil imports will soar to record highs in August as the country ramps up fuel refining at a time when local crude output is dwindling. August will mark the first month on record in which Vietnam is a net importer of crude oil, according to shipping data in Thomson Reuters...

  • MEXICO CITY, Aug 17- A tanker carrying a cargo of about 1 million barrels of Venezuelan heavy crude has been stranded for more than a month off the coast of Louisiana for lack of a bank letter of credit to discharge, three sources have told Reuters. Major banks are cutting exposure to Venezuela as a result of political upheaval in the South American country.

  • *But says cash flow positive with Brent oil at $50 a barrel. *Expects to grow in Kazakhstan, Middle East. DUBAI, Aug 17- Topaz Energy and Marine expects to expand in Kazakhstan and the Middle East as the Dubai- based oil services company projects better growth for the industry next year with oil prices stabilising around $50 a barrel, its chief executive said.

  • OSLO, Aug 17- ConocoPhillips has won permission to prepare for the removal of the first permanent oil platform built off Norway more than 40 years ago, the country's industry regulator said on Thursday. Discovered in 1969, Ekofisk was the first oilfield to begin production off Norway, kickstarting a period of unprecedented wealth for the nation of 5 million...

  • MOSCOW, Aug 16- The acquisition of a 51 percent stake in Russia's Eurasia Drilling Co by U.S. oilfield services giant Schlumberger "has big problems" in the current political situation, the head of Russia's competition watchdog said on Wednesday. Schlumberger applied to the watchdog for approval to buy the stake in late July in a deal which is widely seen as...