News & Updates
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US Shale Oil Drillers Are Finally Buckling As OPEC Pumps On
- February 26, 2016
- Posted by: admin
- Category: Economics, International
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(Bloomberg) — U.S. oil drillers are finally beginning to buckle. For more than a year, American oil producers found a way to keep pumping despite a worldwide slide in crude prices. Like cartoon character Wile E. Coyote, U.S. drillers dashed off the cliff and somehow kept running in midair, maintaining volumes even as revenue plummeted.
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Technip Secures Statoil Services Contracts
- February 26, 2016
- Posted by: admin
- Category: Competitive research, International
Technip announced Thursday that it has been awarded fabrication and installation contracts by Statoil for the Johan Sverdrup and Oseberg Vestflanken developments. The two lump sum contracts for infield pipeline construction cover the fabrication and installation of 18 miles of plastic-lined 16” water injection flowlines for Johan Sverdrup and 4.6 miles of 14” production pipeline,
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Rig Contractor Precision Drilling Suspends Dividend
- February 26, 2016
- Posted by: admin
- Category: Finance & accounting, International
Feb 11 (Reuters) – Canadian rig contractor Precision Drilling Corp suspended its dividend payments as the company looks to boost its finances to cope with a 70 percent fall in oil prices, which has hurt demand for its onshore rigs. The company’s net loss widened to C$271 million ($194 million), or 93 Canadian cents per
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Russia’s Gazprom Looking To Raise $2B Syndicated Loan
- February 26, 2016
- Posted by: admin
- Category: Funding trends
MOSCOW/LONDON, Feb 11 (Reuters) – Russian state gas firm Gazprom is looking to raise a $2 billion syndicated loan from international banks, two banking sources told Reuters on Thursday. One of the sources said the loan was likely to be predominately from Chinese banks. The second one confirmed that. Gazprom declined to comment. (Reporting by