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Finance

Finance
2016, January, 31, 11:50:00

2016: M&A WILL UP

A desire to capitalise on distressed situations, grow international market share and acquire new technology will drive a surge in M&A activity in the global oilfield services sector during 2016.

Finance
2016, January, 31, 11:30:00

UK'S OIL & GAS SUPPORT

In addition to a £250m UK City Deal signed earlier in the day, the PM has set out an action plan of further measures to help build a bridge to the future for the industry, which is vital for our energy security and has been at the heart of the UK economy for decades, generating jobs, skills and growth.

Finance
2016, January, 31, 11:20:00

BAKER HUGHES: NET LOSS $1.97 BLN

Baker Hughes Fourth Quarter and Annual Results: - Revenue of $3.4 billion for the quarter and $15.7 billion for the year - Sequential and year-over-year decremental operating margins for the quarter were 33% and 32%, respectively - GAAP net loss per share of $2.35 for the quarter, includes $2.14 per share of impairment and restructuring charges and merger-related costs - Free cash flow up 25% sequentially to $436 million for the quarter, and $1.2 billion for the year

Finance
2016, January, 28, 19:20:00

U.S. LOSERS: $14 BLN

During the next eight days, independent U.S. oil explorers are expected to report 2015 losses totaling almost $14 billion, the result of the steepest price collapse in a generation.

Finance
2016, January, 28, 19:15:00

2015: OIL GAS M&A DOWN

The upstream, oil field services, midstream, and downstream businesses during the year collectively saw just 379 M&A deals take place, down from the 709 that occurred in 2014, and 409 and 389 that respectively took place in 2008 and 2009 amid the Great Recession. Total value in 2015 was $286.23 billion, down from $353.97 billion in 2014.

Finance
2016, January, 28, 19:10:00

EUROPEAN STOCKS ROUT

European stocks deepened a monthly rout as disappointing earnings reports reignited investor concern about global growth prospects and oil prices resumed their downward trend.

Finance
2016, January, 28, 18:40:00

THE GREATEST INVESTING OPPORTUNITIES

Last month, David Rubenstein, a founder of private-equity firm Carlyle Group, said he anticipates “maybe the greatest energy investing opportunities we’ve ever seen.” Marc Lasry, founder of hedge fund Avenue Capital, has described energy as a “once-in-a-lifetime opportunity.”

Finance
2016, January, 28, 18:35:00

ENI PROPOSES $4 BLN

Eni has already developed phases 4 and 5 of the South Pars gas field as well as two phases of Darkhovin oilfield. It has shown interest in developing Iran’s North Pars gas field and also the third phase of Darkhovin oilfield.

Finance
2016, January, 15, 20:15:00

OIL MAJORS CUT JOBS

Companies like BP, which said Tuesday it is cutting 4,000 jobs, are slimming down to cope with the slump in oil, whose price has plummeted to its lowest level in 12 years and is not expected to recover significantly for months, possibly years. California-based Chevron said last fall that it would eliminate 7,000 jobs, while rival Shell announced 6,500 layoffs.

Finance
2016, January, 15, 20:05:00

OIL COMPANIES ROUT

“Companies have to be prudent in the face of what’s happening,” says Daniel Yergin, vice-chairman of consultancy IHS. “It’s a wrenching period for the industry.”

Finance
2016, January, 15, 19:55:00

IRAN NEEDS $20 BLN

Iran needs $20bn to develop the remaining phases of the South Pars gas field, energy minister Bijan Namdar Zanganeh said

Finance
2016, January, 15, 19:45:00

BP CUTS JOBS 5%

Oil companies including Royal Dutch Shell and Chevron have already slashed tens of thousands jobs globally to deal with a near 75 percent drop in oil prices since June 2014 that has seen earnings collapse.

Finance
2016, January, 10, 18:25:00

RUSSIAN OIL CHRISTMAS

Crude's collapse from $100 a barrel since mid-2014 has already pummeled Russia, which relies on energy for about half its budget revenues and 40 percent of its exports. The latest slide compounds the problems facing President Vladimir Putin ahead of elections in 2018.

Finance
2016, January, 10, 18:20:00

CHINA WILL GROW SLOWLY

"We are certain the Chinese economy will grow only slowly and that the yuan will depreciate in 2016," said a senior trader with a Shanghai-based fund. "The biggest uncertainty we have is how much the yuan will depreciate, which could revalue metals in China and affect our bets."

Finance
2016, January, 10, 18:05:00

SAUDI'S IPO PLAN

The IPO proposal is consistent with the broader direction of economic reform in the kingdom, including state asset sales and market deregulation, Aramco said. Bringing in investors would also strengthen the company’s focus on long-term growth and the prudent management of its reserves, according to the statement.

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OIL (928)
GAS (715)
RUSSIA (454)
GAZPROM (201)
ROSNEFT (165)
U.S. (163)
CHINA (155)
PRICES (116)
LNG (106)
OPEC (103)