Oil and Gas Energy Equipment and Services

  • *Angola plans to tender oil blocks in 2019. It's not clear when he, or his peers, will be cracking open the bubbly in Angola again. Sonangol, the state oil company, is negotiating contracts for new blocks with oil majors and Angola plans to hold an auction next year, the first tender for exploration rights since 2011..

  • The 92 million shares of Baker Hughes for sale by GE was priced at $23.00, below the stock's $23.81 closing price on Tuesday, and came a day earlier than planned. GE will be able to raise nearly $4 billion from the sale if underwriters exercise options to buy an additional 9.2 million shares, with Baker Hughes repurchasing another 65 million shares in a private...

  • LONDON, Nov 14- Global oil supply will outpace demand throughout 2019, as a relentless rise in output swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said on Wednesday. "In 1 H19, based on our outlook for non- OPEC production and global demand, and assuming flat OPEC production... the implied stock build is currently...

  • HOUSTON, Nov 13- Shares of oilfield services firm Weatherford International on Tuesday slipped below $1 apiece, to a 29- year low, the latest sign that investors are losing confidence in its turnaround plan. Pressures on its share price intensified in the past two weeks after the Houston- based company missed its free cash flow targets in latest quarter, and said...

  • NEW YORK/ HOUSTON, Nov 13- General Electric Co plans to raise $4 billion in needed cash by year end, the company said on Tuesday, speeding its planned sale of a stake in oilfield services unit Baker Hughes. It has had three CEOs since July 2017 and its stock has fallen more than 80 percent since 2000.. Based on Tuesday's share price, the sale would raise about $4 billion.

  • HOUSTON, Nov 13- General Electric Co on Tuesday unveiled a plan to raise about $4 billion by accelerating a proposed sale of a stake in oilfield services provider Baker Hughes, its latest move to simplify its businesses and reduce debt. Based on Tuesday's share price of $23.76, the sale would raise around $3.97 billion. GE, which bought Houston- based Baker Hughes in...

  • Nov 13- General Electric Co is selling a portion of its stake in oilfield services provider Baker Hughes, the U.S. industrial conglomerate said on Tuesday, its latest move to raise cash and repay debt. GE, which bought Baker Hughes in July 2017, has made organizational and financial changes to lower its debt and focus on its core businesses of jet engines, power...

  • Nov 13- General Electric Co said on Tuesday it would sell a portion of its stake in Baker Hughes, a day after the U.S. conglomerate said it would divest assets to repay debt. As part of the deal, Baker Hughes will repurchase another part of GE's stake. GE currently owns 62.2 percent of the oilfield services company.

  • NEW YORK, Nov 8- Headed into the winter, temperatures have been colder than usual in the United States, and the cost of heating has been higher- a trend likely to be extended in the next couple of months. Households burning fuel oil can expect to pay an average of $1,589 this winter, or $213 more than last year, up 15.5 percent, according to the U.S. Energy Department.

  • LONDON, Nov 5- Golar LNG said on Monday it was in talks with Nigerian authorities about setting up a power project that could use one of its vessels to import liquefied natural gas. The company wants to expand beyond its core LNG shipping and terminals business and owns half of the $1.7 billion Sergipe power plant project in Brazil, in which it will also provide a...

  • *Japan says it is in close communication with Washington. President Donald Trump's administration added 300 new designations including Iran's oil, shipping, insurance and banking sectors, aiming to cripple Iran's main export revenues from the petroleum industry. Despite this, Iran will continue to sell some oil as Washington said on Friday it would...

  • CAPE TOWN, Nov 5- Nigeria's state oil firm NNPC could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week, a senior NNPC official said on Monday. "Unfortunately, Shell and ExxonMobil exited the downstream sector in Nigeria a couple of years ago but they are coming back for this particular arrangement, because its an...

  • U.S. OIL DRILLERS CUT RIGS FOR FIRST WEEK IN FOUR -BAKER HUGHES.

  • *Mild weather, nuclear restarts in Japan dampen demand. Expectations of a mild winter and higher nuclear generation in Japan, the world's largest LNG buyer, are weighing on prices after a frenzied September of buying by Asian utilities to replenish storage tanks left low after a hot summer. But inventory levels in Japan and South Korea, the world's third largest...

  • RIO DE JANEIRO, Oct 30- Brazil's Petroleo Brasileiro SA could sell an additional $20 billion in assets through next year, a person with knowledge of the matter told Reuters on Tuesday, indicating that the state-run oil company expects to maintain its robust pace of divestments despite recent setbacks. Planned sales of its Pasadena refinery in Texas and two...

  • LONDON/ SINGAPORE, Oct 26- Britain's South Hook liquefied natural gas terminal is scheduled to receive its first tanker of LNG not supplied by Qatar at the end of this month. The South Hook LNG Terminal, located in Milford Haven in west Wales, has received LNG from Qatar since it became operational in 2010, where it is regasified and delivered into the gas grid.

  • *GRAPHIC: Iran's seaborne crude exports: https://tmsnrt.rs/2Osb61V. LAUNCESTON, Australia, Oct 25- The crude oil market is still uncertain over the likely impact of the renewed U.S. sanctions against Iran, but two things seem to be becoming clearer: Iran is struggling to keep buyers, and much of the crude it is shipping is being stored. While not quite a death knell...

  • MILAN/ OSLO, Oct 24- Major European oil service groups Saipem and Aker Solutions gave investors in the struggling sector a rare ray of hope on Wednesday by signalling signs of recovery. "The market is showing signs of a change in trend compared to recent years," Saipem's chief executive Stefano Cao said, adding that challenges remained. A recent rise in oil prices has...

  • OSLO, Oct 24- Norwegian oil services firm Aker Solutions expects revenues next year to be higher than this year's, but with 2019 earnings margins around the same level as 2018' s, and reported third-quarter profits that beat forecasts on Thursday. The firm's earnings before interest, tax, depreciation and amortization and excluding non-recurring items rose to...

  • Oil services firms, which help operators drill and complete wells, are seeing demand for their services cool as producers cut down on spending and delay completions due to pipeline bottlenecks in the Permian basin of Texas and New Mexico. Net profit attributable to Halliburton rose to $435 million, or 50 cents per share, in the third quarter ended Sept. 30, from...