News
2015, March, 29, 15:10:00
U.S. RIGS DOWN
The US drilling rig count dropped just 21 units to settle at 1,048 rigs working during the week ended Mar. 27, representing the smallest decline in 15 weeks.
2015, March, 29, 15:05:00
SHELL CUTTING 250 JOBS
Royal Dutch Shell will reportedly cut at least 250 more jobs this year at its UK North Sea operations.
2015, March, 29, 15:00:00
U.S. SANCTIONS: SCHLUMBERGER NOW
The U.S. Department of Justice and the Commerce Department said Wednesday a unit of Paris-based Schlumberger Ltd. has agreed to plead guilty and pay a $232.7 million penalty for conspiracy to violate trade sanctions with Iran and Sudan.
2015, March, 29, 14:55:00
HALLIBURTON & BAKER HUGHES MERGER
Halliburton shareholders have overwhelmingly approved the company’s long-awaited merger with Baker Hughes. Baker Hughes also announced on Friday that its stockholders adopted the merger agreement, thereby approving the merger. Each company held their own special meetings Friday morning.
2015, March, 25, 20:40:00
U.S. SHALE DOWN
In the boom years of the US shale oil industry, profitability was something of an optional extra. Companies were focused on growth, it was easy to raise capital, and making a decent return on investment could be put off for another day.
2015, March, 25, 20:35:00
BUYING U.S. ASSETS
Houston-based Linn Energy has teamed up with private equity firm Quantum Energy for a $1 billion asset purchase plan.
2015, March, 25, 20:30:00
U.S.: LAYING OFF
OPEC and lower global oil prices delivered a one-two punch to the drillers in North Dakota and Texas who brought the U.S. one of the biggest booms in the history of the global oil industry.
2015, March, 25, 20:25:00
U.S.: 75,000 JOBS CUTTING
At this point in the oil slump, dreaded jobs cuts hardly come as a surprise anymore; this week, Talisman Energy let go of 200 employees while Neven energy cut 400. But how many total American jobs have low oil prices cost? A recent Forbes article estimates at least 75,000—about 12 percent of the nation’s oil and gas workforce—so far.
2015, March, 25, 20:20:00
SINOPEC WOULD CUT
China’s Sinopec has become the latest oil major to cut its capital expenditure, after the slide in crude prices knocked nearly one-third from its 2014 profit.
2015, March, 25, 20:15:00
WOODSIDE CUTTING 300 JOBS
Australia-based Woodside Petroleum is reportedly cutting 300 jobs and freezing pay in response to low oil prices.
2015, March, 25, 20:10:00
UNDEFINITE PIPELINE
TAPI faces an uncertain future with the recent oil price fall, ambiguity regarding transit via Afghanistan and an increase in the estimated project cost.
2015, March, 25, 20:05:00
EU ENERGY MARKET
Before Donald Tusk became president of the European Council, the former Polish prime minister had already begun campaigning for a European energy union.
2015, March, 25, 20:00:00
BRENT OILFIELDS BUYING
Deals for North Sea oilfields — which have been held back by the plummeting price of Brent crude — could soon come back on stream, as a new tax cut helps to draw in private equity investors.
2015, March, 25, 19:55:00
WORLD NEEDS NEW OIL
European companies are increasing their focus on offshore projects, securing an increase of their financing facilities and forging joint ventures to reduce costs.
2015, March, 23, 19:05:00
U.S. WANT EUROPE
Russia is using natural gas as a political tool and the United States needs to know if it is “on the same page” with Turkey regarding Russia’s actions, a top U.S. energy envoy has said.