Schlumberger: Market looks challenging
Houston (UPI) Oct 16, 2015 -
Revenue from North American operations alone dropped 4 percent in the third quarter as the oil business environment declined further, Schlumberger said.
"For oilfield services, the market outlook for the coming quarters looks increasingly challenging with activity expected to be reduced further," Schlumberger Chief Executive Officer Paal Kibsgaard said in a statement.
Schlumberge ...
more
EIA reviews Indonesia's OPEC bid
Washington (UPI) Oct 16, 2015 -
Despite its bid to reactivate its membership in OPEC, Indonesia will likely need to import more oil to meet its domestic demand, a U.S. analysis said.
In September, Indonesia submitted a request to reactivate its membership in the Organization of Petroleum Exporting Countries, which it left in 2009 because it was no longer a net exporter. OPEC in a response statement said its members wo ...
more
Oil prices swing positive
New York (UPI) Oct 16, 2015 -
Indications the Chinese economy may be bigger than expected, and Beijing pledges to ease poverty, helped lift crude oil prices in early Friday trading.
Crude oil prices started Friday on a high note, following a steady string of indications suggesting markets were still favoring the supply side because of weak economic growth. A series of crashes on the Chinese stock market and governme ...
more
Oil and gas companies make green pledge
Paris (UPI) Oct 16, 2015 -
European and Middle East companies announced they're committed to playing a constructive role in reducing the intensity of global greenhouse gas emissions.
The chief executive offices of 10 of the world's largest oil and natural companies, from British energy company BP to Saudi Aramco, expressed their support for a climate change agreement on the table for the United Nations next month ...
more
US cancels drilling rights auctions in Alaskan Arctic
Washington (AFP) Oct 17, 2015 -
The United States has announced it is calling off two auctions for oil and gas drilling rights in the Arctic off Alaska and has denied requests for lease extensions by Shell and Statoil.
The move comes just weeks after President Barack Obama visited Alaska and Shell said its Burger J well in the Chukchi Sea, off the northwest coast of Alaska, did not warrant further exploration due to insuf ...
more
Russian anti-monopoly board says Gazprom could split
Moscow (UPI) Oct 16, 2015 -
Russian natural gas company Gazprom could be divided into separate production and transportation groups, a federal anti-monopoly service said.
The European community has looked to rival suppliers to advance its own energy security needs, expressing frustration with the monopoly Gazprom holds over transit and supplies. Russian Foreign Minister Sergei Lavrov said the country would remain ...
more
United States importing more oil
Washington (UPI) Oct 16, 2015 -
Total U.S. crude oil imports increased by more than 3 percent for the week ending Oct. 9, data from the U.S. Energy Information Administration show.
Data from EIA for the week ending Oct. 9 show the total crude oil imports averaged 7.3 million barrels per day, up by about 247,000 bpd from the previous week.
Total imports came at the same time that domestic production dropped. Cru ...
more
