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2016, May, 19, 20:35:00
OIL COMPANIES RESTRUCTURING
Oil and gas producers depend largely on bank credit lines to run their businesses. Cmpanies getting ready to restructure are working closely with their bankers before filing for bankruptcy.
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2016, May, 19, 20:30:00
OIL DRILLING EFFICIENCY
As the number of failed operators mounts, the surviving companies are laying the groundwork for what they forecast will be an era of slower but steadier growth in the state at the epicenter of the U.S.’s energy boom.
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2016, May, 19, 20:25:00
TECHNIP & FMC MERGER: $20 BLN
The transaction is expected to deliver annual pretax savings of at least $400 million as of 2019 and boost earnings per share significantly, the companies said in a statement on Thursday.
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2016, May, 19, 19:45:00
RUSSIAN OIL UPDOWN
Perhaps the biggest hurdle is Russia’s business climate. While frequently fodder for criticism, there’s progress. Russia has surged by 61 spots in the World Bank’s Ease of Doing Business Index since 2013 to 51st this year.
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2016, May, 10, 18:25:00
SAUDI WANT MORE
Saudi Arabia, the world’s biggest oil exporter, plans “significant growth” in output in 2016 and further international expansion, the head of the country’s state-run producer said, even as global oversupply contributed to a drop in crude prices from a year ago.
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2016, May, 10, 18:20:00
LIBYAN OIL DOWN
Libya's production was down to 212,000 barrels on Monday, after the largest National Oil Corp (NOC) subsidiary, AGOCO, was forced to slash output by one-third from southeastern fields, an NOC spokesman in Tripoli said.
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2016, May, 10, 18:15:00
MAJORS RELINQUISHED $2.5 BLN
The pullout comes as crude oil prices have plummeted to less than half their June 2014 levels, forcing oil companies to slash spending. For Shell and ConocoPhillips, the decision to abandon Arctic acreage was formalized just before a May 1 due date to pay the U.S. government millions of dollars in rent to keep holdings in the Chukchi Sea north of Alaska.
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2016, May, 5, 19:00:00
CHINA & U.S. REBALANCING
China’s falling oil output and sliding U.S. production may help rebalance a market struggling to recover from the worst price crash in a generation
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2016, May, 5, 18:15:00
WEATHERFORD NET LOSS $498 MLN
Revenue for the first quarter of 2016 was $1.59 billion compared with $2.01 billion in the fourth quarter of 2015 and $2.79 billion in the first quarter of 2015. First quarter revenues declined 21% sequentially and 43% from the prior year. The sequential decline was 22% in North America and 21% for International operations. Product sales declined 30% sequentially, while service and rental revenue decreased by 16%. The product sales decline was as much seasonal as cyclical and most impacted the Eastern Hemisphere.
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2016, May, 5, 18:05:00
HALLIBURTON VS U.S.: SENSELESSLY
Halliburton’s chief executive has blamed an increasingly difficult US regulatory climate for the collapse of his company’s $28bn bid for rival Baker Hughes, which was abandoned on Sunday.
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2016, May, 5, 18:00:00
HALLIBURTON NET LOSS $2.4 BLN
HOUSTON – May 3, 2016 - Halliburton Company (NYSE:HAL) announced that income
from continuing operations for the first quarter of 2016 was $64 million, or $0.07 per diluted share, excluding special items. This compares to income from continuing operations for the fourth quarter of 2015 of $270 million, or $0.31 per diluted share, excluding special items. Adjusted operating income was $225 million in the first quarter of 2016, compared to adjusted operating income of $473 million in the fourth quarter of 2015. Halliburton's total revenue in the first quarter of 2016 was $4.2 billion, compared to $5.1 billion in the fourth quarter of 2015.
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2016, May, 3, 14:30:00
SEADRILL NET LOSS $750 MLN
Seadrill generated EBITDA of $513 million for the fourth quarter 2015
Current order backlog of $5.1 billion
$10.7 billion for Seadrill Group
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2016, May, 3, 14:20:00
U.S. RIGS DOWN 11
U.S. Rig Count is down 11 rigs from last week to 420, with oil rigs down 11 to 332, gas rigs down 1 to 87, and miscellaneous rigs up 1 to 1.
Canadian Rig Count is down 3 rigs from last week to 37, with oil rigs down 2 to 10, gas rigs down 1 to 26, and miscellaneous rigs unchanged at 1.
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2016, April, 28, 20:00:00
GAZPROM & PETROVIETNAM COOPERATION
The parties focused, inter alia, on the exploration activities in blocks 112 and 129–132 and the joint development of the Moc Tinh and Hai Thach fields. It was noted that the construction of 12 production wells, three production platforms, a floating hydrocarbon storage terminal, and a submarine pipeline system had been completed at these fields. The total accumulated production from the Moc Tinh and Hai Thach fields since its launch in 2013 has now reached 4.5 billion cubic meters of gas and 1.1 million tons of gas condensate.
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2016, April, 24, 12:35:00
KASHAGAN WILL RELAUNCH
Kazakhstan's KazMunaiGaz, which owns the largest stake in the project, has said previously that the field would relaunch by the end of 2016.