Schlumberger Ltd., the world’s largest oilfield contractor, said international profit margins are poised to rise. The company’s shares gained 6.6 percent.
The flood of North American crude oil is set to become a deluge as Mexico dismantles a 75-year-old barrier to foreign investment in its oil fields.
U.S. natural-gas companies are getting hit with the highest costs in four years as they shift more production to oil to escape low gas prices.
Schlumberger Ltd., the world’s largest oil-services company, is reducing work in Venezuela because of trouble getting paid by state-owned Petroleos de Venezuela SA.
Oil refiners will deliver the lowest returns among energy stocks in the next 12 months, according to a survey of 175 senior energy executives and institutional investors.
U.S. exports of natural gas liquids, already at a record amid surging output from shale deposits, are poised to quadruple by 2020 as the expansion of the Panama Canal cuts shipping costs to Asia.
BP Plc’s oil spill in the Gulf of Mexico will drive down rental prices for deep-sea drilling vessels by about 20 percent, analysts say, creating an oversupply of rigs as demand slows.
The U.S. moratorium on deep-water oil and gas drilling in the Gulf of Mexico prompted by BP Plc ’s spill will crimp second-half profits, Pride International Inc. and National Oilwell Varco Inc. said.
Transocean Ltd. , the world’s largest offshore driller, reported its biggest first-quarter profit decline in nine years amid a wordwide surfeit of rigs used to find oil and natural gas.
"Despite natural gas storage at the lowest point in over 10 years, we think supply is ample, with production growth in key demand regions such as the Appalachian providing enough cushion for the heating season."
- Kurt Hallead on Jul 17, 2014