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Oil and Gas Energy Equipment and Services

  • SINGAPORE/ DUBAI, June 7- Abu Dhabi port authorities have eased restrictions on oil tankers going to and from Qatar, according to industry sources and shipping circulars seen by Reuters on Wednesday. Abu Dhabi Petroleum Ports Authority issued a new circular on Wednesday removing previous restrictions on non- Qatar owned, flagged or operated vessels sailing to...

  • SINGAPORE/ DUBAI, June 7- Abu Dhabi port authorities have eased restrictions on oil tankers going to and from Qatar, according to industry sources and shipping circulars seen by Reuters on Wednesday. Abu Dhabi Petroleum Ports Authority issued a new circular on Wednesday removing previous restrictions on non- Qatar owned, flagged or operated vessels sailing to...

  • SINGAPORE/ DUBAI, June 7- Abu Dhabi port authorities have eased restrictions on oil tankers going to and from Qatar, two shipping circulars seen by Reuters on Wednesday showed. Abu Dhabi Petroleum Ports Authority issued a new circular on Wednesday removing previous restrictions on non- Qatar owned, flagged or operated vessels sailing to and from Qatar.

  • QATARI CRUDE OIL CONTINUES TO CO-LOAD WITH UAE GRADES- SHIPPING DATA.

  • MOSCOW, June 2- Saudi Arabia will consider investing in Russian company Eurasia Drilling, the TASS news agency cited Saudi Energy Minister Khalid al-Falih as saying on Friday. Eurasia Drilling is Russia's largest oilfield services company by meters drilled. The minister was speaking at an economic forum in St Petersburg.

  • LONDON, June 1- U.S. oil production continues to rise relentlessly, frustrating efforts by OPEC and non- OPEC oil exporters to rebalance the global market and secure an increase in the price of crude. Most of the extra output between September and March came from oilfields in the Gulf of Mexico, where production increased by 257,000 bpd, and Alaska, where output was...

  • QUITO, May 31- Ecuador wants to negotiate a payment plan with oil service companies owed over $2 billion, and talks with main creditor Schlumberger are expected in coming days, its new oil minister told Reuters on Wednesday. Ecuador's economy has struggled since the 2014 collapse of oil prices and a devastating earthquake last year that killed 670 people and...

  • LONDON, May 31- U.S. exploration and production companies have hired an extra 400 rigs to target oil-bearing formations since the end of May 2016, according to oilfield services company Baker Hughes. The active rig count is likely to peak in June or July unless the price of benchmark West Texas Intermediate crude starts rising again above $50 per barrel.

  • NAIROBI, May 30- Fuel shortages have paralysed the small central African nation of Burundi, threatening further damage to an economy already moribund after years of political violence and raising questions about the role of the country's only oil importer. The problem has damaged two big foreign investors, Kenya's KenolKobil and South Africa's Engen, a...

  • NAIROBI, May 30- Fuel shortages have paralyzed the small central African nation of Burundi, threatening further damage to an economy already moribund after years of political violence and raising questions about the role of the country's only oil importer. The problem has damaged two big foreign investors, Kenya's KenolKobil and South Africa's Engen, a...

  • LONDON, May 30- Companies supplying miners with equipment and services have performed better than their oil sector peers, buoyed by spending on new technology and expectations the demand outlook for other minerals is more bullish than for fuel. "For most of the markets that the European oil services companies serve, it's almost arithmetically impossible for...

  • NEW YORK, May 25- Oil traders and analysts are expecting large volumes of crude to draw from storage tanks across the United States in coming weeks, in what would be the most tangible sign of an inventory overhang reduction that has punished prices over the last two years. Supplies have remained stubbornly high for months, disappointing traders who were...

  • HOUSTON, May 25- U.S. oil services companies have been doing a lot more work as recovering oil prices have lifted the shale industry from a two-year slump, but producers have been pocketing much of the new cash generated by rising output and squeezing service providers to keep costs down. Law firm Haynes and Boone LLP said the U.S. oilfield sector experienced 127...

  • LONDON, May 25- U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018.. Freight movements hit a new record in February, before slipping slightly in March, according to the U.S. Bureau of Transportation Statistics. The ratio of business inventories to sales climbed from 1.28 in January...

  • May 25- Oilfield services provider Petrofac has suspended its chief operating officer in response to the UK Serious Fraud Office's investigation into Monaco- based Unaoil, another setback for the company that has been hit by the oil market downturn. Petrofac's shares slumped as much as 29 percent, wiping more than half a billion pounds off its market...

  • QUITO, May 23- Ecuador's leftist president-elect Lenin Moreno on Tuesday said he would name economics professor Carlos de la Torre as finance minister and former international oil executive Carlos Perez as oil minister. Moreno, 64, also appointed ex-officials from outgoing President Rafael Correa's government. Moreno's main challenge will be to solve the...

  • BEIJING, May 22- China will eventually allow private companies to invest in the country's oil and gas storage, the government said in a blueprint document for its energy sector that mainly underscored earlier pledges on reforming heavily monopolized oil and gas industries. "We are expecting specific measures to follow after the State Council releases this...

  • NEW YORK/ LONDON/ SINGAPORE May 19- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. The stalled drawdowns shed light on the broader challenge facing OPEC- the Organization of the Petroleum Exporting Countries- as it struggles to...

  • NEW YORK/ LONDON/ SINGAPORE May 19- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. The stalled drawdowns shed light on the broader challenge facing OPEC- the Organization of the Petroleum Exporting Countries- as it struggles to...

  • HOUSTON/ NEW YORK, May 17- Oil tankers carrying roughly 2.5 million barrels of U.S. crude are currently en route to Asia, trade sources said on Wednesday, as U.S. producers take advantage of favorable prices to ship to Asia while OPEC ponders further supply cuts next week. But relatively cheap U.S. crude has buoyed exports to Asia. Traders expect that May U.S. crude...