National Oilwell Varco reports 30 percent increase in Q4 earnings
National Oilwell Varco Inc. reported a nearly 30 percent increase in its fourth quarter earnings for 2011from the same time in 2010, as high oil prices and drilling competition in the shales have...
View ArticleNorwegian oil services strike averted
Norway’s Industri Energi union and the oil and gas producer lobby reached an agreement on pay, averting a strike at companies including Halliburton Co., Schlumberger and Baker Hughes.
View ArticleHalliburton, Baker Hughes in talks for mega deal
Two of the world's biggest oil field service companies are in talks to fuse their businesses together and end decades of rivalry in a deal that may be valued at more than $20 billion.
View ArticleSchlumberger to pay $1.7B for stake in Russian energy company
Schlumberger will spend about $1.7 billion for a minority stake in a big Russian energy company at a time when the country's relations with the West are under strain and as energy prices hit multiyear...
View ArticleSome offshore supply vessel companies teetering on bankruptcy
Even before crude prices collapsed and triggered a retreat from expensive deepwater projects, the offshore supply vessel industry was struggling with rising debt and too much competition jockeying for...
View ArticleHalliburton cutting 5,000 more jobs worldwide
Houston oilfield services giant Halliburton is cutting another 5,000 positions worldwide - or 8 percent of its workforce - as it tries to cope with low crude prices.
View ArticleNOV considering acquisitions
After slowing down its M&A machine considerably over the past two years, National Oilwell Varco Inc. is looking at a couple different acquisitions in the billion-dollar range.
View ArticleOTC Commentary: Transforming oilfield services to cut costs, improve efficiency
Jean Francois Poupeau, executive vice president of corporate development & communications at Schlumberger, writes about changes in the service industry.
View ArticleBaker Hughes OTC commentary: Innovation agendas too shallow for deep water
Derek Mathieson of Baker Hughes writes: "If we in the oil and gas industry want deep water to be a vibrant market in the future, we should give serious thought not only to where we put our innovation...
View ArticleHalliburton OTC commentary: A key to future energy needs is developing mature...
Halliburton's Ahmed Kenawi writes about the need for the industry to shift its focus toward developing the technology to boost recovery production in mature fields, both offshore and on land.
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