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2017-09-04 12:15:00

SCHLUMBERGER - EURASIA DEAL STOP

SCHLUMBERGER - EURASIA DEAL STOP

REUTERSThe acquisition of Russia's Eurasia Drilling Co (EDC) by U.S. oilfield services giant Schlumberger (SLB.N) has been held up by U.S. sanctions on Russia, Russian Deputy PM Arkady Dvorkovich was quoted as saying by local news services.

Schlumberger applied to the watchdog for approval to buy the stake in late July in a deal widely seen as testing the state of relations between Russia and the United States.

However, since then the United States has introduced additional sanctions against Russia for its alleged meddling in the U.S. presidential elections in 2016. The sanctions restrict cooperation in the Russian energy sector.

Several Russian officials, including the Natural Resources minister and the head of anti-monopoly body, have said the deal had been held up due to the political turmoil.

"I agree that we shouldn't sell it if in a month the company will stop working (due to sanctions)," Dvorkovich was quoted as saying by RIA news agency late on Friday.

Schlumberger has made no comment on the state of the deal.

It is Schlumberger's second attempt to buy into EDC, and it would be the first U.S. stake in Russia's oil and gas industry since sanctions were imposed on Moscow after its 2014 annexation of Crimea.

In 2015, Schlumberger agreed to buy 45.65 percent of EDC for $1.7 billion, but the deal fell through after the Russian anti-monopoly repeatedly postponed its approval.

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Earlier:

 SCHLUMBERGER:

     

 EURASIA:

 

SCHLUMBERGER & EURASIA: 51%

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2017-07-24
     

EURASIA DRILLING: $1.5 BLN

EURASIA DRILLING: $1.5 BLN EURASIA DRILLING: $1.5 BLN Eurasia Drilling’s top shareholders and management have proposed taking the oil services company private, after Schlumberger walked away from making a $1.7bn investment following resistance from R ...
2015-10-11
 

SCHLUMBERGER NET LOSS $1.7 BLN

SCHLUMBERGER NET LOSS $1.7 BLN SCHLUMBERGER NET LOSS $1.7 BLN Full-year 2016 revenue of $27.8 billion decreased 22% year-on-year, despite three quarters of activity from the Cameron Group that contributed $4.2 billion in revenue. Excluding Cameron, c ...
2017-01-23
     

EURASIA DRILLING OFFER: $10

EURASIA DRILLING OFFER: $10 EURASIA DRILLING OFFER: $10 Eurasia Drilling Co., the Russian oil driller whose planned acquisition by Schlumberger Ltd. collapsed last month, said it received a buyout offer from management and shareholders. Eurasia Drill ...
2015-10-08
 

SCHLUMBERGER WON IN VENEZUELA

SCHLUMBERGER WON IN VENEZUELA SCHLUMBERGER WON IN VENEZUELA Schlumberger will drill 80 wells in an extra-heavy oil field in the Orinoco Belt, said company spokesman Joao Felix. Terms of the deal, which are still being negotiated, will ensure payment ...
2016-09-22
     

SCHLUMBERGER & EURASIA KEY FINANCIALS

SCHLUMBERGER & EURASIA KEY FINANCIALS SCHLUMBERGER & EURASIA KEY FINANCIALS 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 billi ...
2015-08-27
 

ROSNEFT - BP - SCHLUMBERGER COOPERATION

ROSNEFT - BP - SCHLUMBERGER COOPERATION ROSNEFT - BP - SCHLUMBERGER COOPERATION The agreements were signed at the Eastern Economic Forum (EEF) in Vladivostok, Russia by Rosneft CEO Igor Sechin, the president of BP Russia David Campbell and Schlumberg ...
2016-09-02
     

RUSSIA STOP SCHLUMBERGER

... erger Ltd.’s acquisition of a 46 percent stake in Eurasia Drilling Co., according to two people with knowledge of the matter. Russia’s Federal Security Service, the main successor to the KGB, is holding up Schlumberger Ltd.’s acquisition of a 46 perc ...
2015-08-26
 

SCHLUMBERGER CUTS 2,000 JOBS

SCHLUMBERGER CUTS 2,000 JOBS SCHLUMBERGER CUTS 2,000 JOBS Since November 2014, when the oil bust started to take hold of the energy industry, Schlumberger has cut 36,000 jobs, or 28% of its workforce. Since November 2014, when the oil bust started to ...
2016-04-24
     
 

SCHLUMBERGER CUTS 20,000 JOBS

SCHLUMBERGER CUTS 20,000 JOBS SCHLUMBERGER CUTS 20,000 JOBS He gave the warning in a statement as Schlumberger reported third-quarter earnings per share that were 48 per cent below the equivalent period of 2014, but slightly above analysts’ expectati ...
2015-10-19
     
 

SCHLUMBERGER PROVIDES UPDATE

SCHLUMBERGER PROVIDES UPDATE SCHLUMBERGER PROVIDES UPDATE Schlumberger Limited announced that it does not intend to extend the pending agreement to acquire a minority equity interest in Eurasia Drilling Company Limited, once the current extension exp ...
2015-09-27
     
       

 

 

 

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