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.
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.
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.
"We think these sanctions could impact Russia service revenue for all EU/ U.S.-based companies."
- Kurt Hallead on Aug 12, 2014