August 2015

Despite unfavourable market conditions and a negative impact of the tax manoeuvre, in the second quarter of 2015, the Company achieved a considerable improvement in its financial results. Revenue from sales gained 6.9% compared to the first quarter of 2015; adjusted EBITDA increased by 34.1%, while operating income jumped by 44.4%. In the second quarter of 2015, net income excluding minority interest was 57.2% higher than in the first quarter of 2015 and 12.9% higher than in the second quarter of 2014.

Issues have emerged in Russia that could delay or prevent Schlumberger Limited. (NYSE:SLB) from closing a deal with Eurasia. Earlier this year, Schlumberger made a $1.7 billion offer to take a stake in Eurasia, also expressing willingness to acquire the rest of the company. Eurasia is Russia’s largest oil-services company. However, as it turns out, Russia’s Federal Security Service, also known as FSB, is expressing some reservations over the deal.

HOUSTON, August 26, 2015—Schlumberger Limited (NYSE: SLB) and Cameron (NYSE: CAM) today jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of directors of both companies.

Revenues for the second quarter of 2015 were $1,147 million compared to $1,244 million in the first quarter of 2015. Operating profit for the quarter was $384 million compared to $703 million in the preceding quarter. The decrease was primarily due to the gain on deconsolidation of SeaMex during the first quarter, and a loss on the sale of the West Polaris to Seadrill Partners during the second quarter. Taken together, these items account for approximately $261 million, or 82%, of the sequential decline in operating profit. Excluding these non-recurring items, operating profit declined 11% sequentially.

Aug 27 French oil major Total has agreed to sell some of its gas pipeline assets in the UK's North Sea to North Sea Midstream Partners, an affiliate of U.S.-based private equity firm ArcLight Capital, for 585 million pounds ($907 million).

Ukraine's efforts to store natural gas for winter are running 1 billion cubic metres behind their pace last year, Prime Minister Arseny Yatseniuk said on Wednesday.

TOP TEN OIL PRODUCING COMPANIES IN THE WORLD

Local industry and investment experts said Monday they expect continued struggles for the oil and gas industry following sub-$40-a-barrel prices and big drops in Wall Street stocks across the board.

Most Middle Eastern stock markets declined amid mounting concern the region’s largest economy will cut spending after oil prices slumped to the lowest since 2009.

China Petroleum & Chemical Corp., Asia’s biggest oil refiner, posted a 22 percent decline in profit for the first half of the year as the slump in prices outweighed the benefit of cheaper crude to its refining business.