REUTERS - Schlumberger had initially planned to buy 51 percent in EDC, but decided to scale down its bid. The deal has faced difficulties as relations between Russia and the United States have deteriorated.
BAKER HUGHES A GE - U.S. Rig Count is up 8 rigs from last week to 1,021, with oil rigs up 5 to 825, gas rigs up 3 to 195, and miscellaneous rigs unchanged at 1. Canada Rig Count is down 8 rigs from last week to 85, with oil rigs down 5 to 33 and gas rigs down 3 to 52.
WBG - Oil prices are forecast to average $65 a barrel over 2018, up from an average of $53 a barrel in 2017, on strong demand from consumers and restraint by oil producers, while metals prices are expected to rise 9 percent this year, also on a pickup in demand and supply constraints, the World Bank said.
GAZPROM - Total sales (net of excise tax, VAT and customs duties) increased by RUB 435,092 million, or 7 %, to RUB 6,546,143 million for the year ended December 31, 2017 compared to the year ended December 31, 2016. The increase in sales was mainly driven by an increase in sales of refined products and crude oil.
AOG - Bahrain, recently announced that it had unearthed around 80 billion barrels of unconventional oil and up to 20 trillion cubic feet of tight gas off its west coast. The discovery could potentially transform the island state’s reserves which currently total well under 200 million barrels.
SHELL - Compared with the first quarter 2017, CCS earnings attributable to shareholders excluding identified items increased by $1.6 billion, mainly driven by higher contributions from Integrated Gas and Upstream, partly offset by lower earnings in Downstream. Cash flow from operating activities for the first quarter 2018 was $9.4 billion, which included negative working capital movements of $0.9 billion, compared with $9.5 billion in the first quarter 2017, which included negative working capital movements of $1.6 billion. Total dividends distributed to shareholders in the quarter were $4.0 billion.
NOV - National Oilwell Varco, Inc. (NYSE: NOV) today reported a first quarter 2018 net loss of $68 million, or $0.18 per share. Revenues for the first quarter were $1.80 billion, a decrease of nine percent compared to the fourth quarter of 2017 and an increase of three percent from the first quarter of 2017. Operating loss for the first quarter of 2018 was $1 million, or 0.1 percent of sales, and Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) was $160 million, or 8.9 percent of sales. Other items were a net credit of $12 million, pre-tax, primarily from the reversal of certain accruals, partially offset by restructure charges and severance payments.
REUTERS - BP (BP.L) has a “very strong” partnership with Russian oil giant Rosneft (ROSN.MM) but will steer away from politics, Chief Executive Officer Bob Dudley said on Tuesday, as Moscow could face new western sanctions.
SHELL - Shell has signed an agreement to sell its Downstream business in Argentina to Raízen for US$0.95 billion in cash proceeds at completion, subject to customary closing conditions. The sale includes the Buenos Aires Refinery, around 645 retail stations, liquefied petroleum gas, marine fuels, aviation fuels, bitumen, chemicals and lubricants businesses, as well as supply and distribution activities in the country. Additionally, after the transaction closes, the businesses acquired by Raízen will continue their relationships with Shell through various commercial agreements, which represent an estimated value of US$0.3 billion.
HALLIBURTON - Halliburton Company (NYSE:HAL) announced income from continuing operations of $46 million, or $0.05 per diluted share, for the first quarter of 2018.