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Oil dives on fears of glut, global economic slowdown

21 mins ago DieselGasoil Comments Off on Oil dives on fears of glut, global economic slowdown
NEW YORK (Reuters) – Oil prices tumbled on Tuesday after reports of swelling inventories and forecasts of record U.S. and Russian output hitting a market that may see weaker demand if global growth deteriorates as many expect. Pump jacks operate in an oil field in Midland, Texas U.S. August 22, 2018. Picture taken August 22, Read More

Shell is said to eye $8-billion deal for Endeavor Energy as price tag drops

17 hours ago DieselGasoil Comments Off on Shell is said to eye $8-billion deal for Endeavor Energy as price tag drops
By Kiel Porter and Dinesh Nair on 12/17/2018 Map: Endeavor Permian acreage. NEW YORK and LONDON (Bloomberg) — Royal Dutch Shell Plc is in negotiations to buy Endeavor Energy Resources LP for about $8 billion, according to people familiar with the matter, or roughly half as much as the Texas oil producer was expected to Read More

Italy judge says evidence shows Eni, Shell knew of Nigerian graft

1 day ago DieselGasoil Comments Off on Italy judge says evidence shows Eni, Shell knew of Nigerian graft
FILE PHOTO: The logo of Italian energy company Eni is seen at a gas station in Rome, Italy September 30, 2018. REUTERS/Alessandro Bianchi/File Photo MILAN (Reuters) – An Italian judge said on Monday there was evidence showing oil groups Eni (ENI.MI) and Royal Dutch Shell (RDSa.L) were aware that their 2011 purchase of a Nigerian Read More

Weir Oil and Gas awarded contract with Expro for repair of Powerchoke products

2 days ago DieselGasoil Comments Off on Weir Oil and Gas awarded contract with Expro for repair of Powerchoke products
12/16/2018 DUBAI — Weir Oil & Gas Dubai has announced it has signed a contract with Expro to provide authorized repairs, specifically for Expro’s PowerChokes product range. The authorized repair facility agreement will see Expro customers send products to Weir Oil & Gas Dubai’s facility to capitalize on Weir’s original equipment manufacturer repair and recertification Read More

Occidental CEO wants to keep rigs running even after oil's slump

2 days ago DieselGasoil Comments Off on Occidental CEO wants to keep rigs running even after oil's slump
By Stephen Cunningham on 12/16/2018 WASHINGTON (Bloomberg) — Occidental Petroleum Corp. will look for ways to cut costs other than dropping rigs, in response to the recent slump in oil prices, according to CEO Vicki Hollub. “We’re going to keep our rigs running and we’re going to figure out how to reduce costs in some Read More

What would the end of OPEC mean?

3 days ago DieselGasoil Comments Off on What would the end of OPEC mean?
The Organization of the Petroleum Exporting Countries – the oil market institution that has exerted an unyielding power over the price of crude for nearly 60 years – is now in deep crisis. The latest OPEC meeting in Vienna offered new insights into the cartel’s raging civil war that is tearing it apart and threatens Read More

Explorers face pain as oilfield costs jump: Wood Mackenzie

4 days ago DieselGasoil Comments Off on Explorers face pain as oilfield costs jump: Wood Mackenzie
By David Wethe on 12/14/2018 HOUSTON (Bloomberg) — Shale explorers are in for higher equipment and service costs in 2019 after getting hit with double-digit inflation this year, according to Wood Mackenzie Ltd.  The rate of well-cost increases — which includes everything from cement to drilling rigs — is expected to average 9% across the Read More

CES Energy Solutions Corp. Declares Cash Dividend

5 days ago DieselGasoil Comments Off on CES Energy Solutions Corp. Declares Cash Dividend
CALGARY, Alberta, Dec. 13, 2018 (GLOBE NEWSWIRE) — CES Energy Solutions Corp. (“CES” or the “Company”) (TSX: CEU) (OTC – Nasdaq Intl: CESDF) is pleased to announce today that it will pay a cash dividend of $0.005 per common share on January 15, 2019 to the shareholders of record at the close of business on Read More

Precision Drilling Announces Credit Facility Extension and $150 Million Total Debt Reduction in 2018

5 days ago DieselGasoil Comments Off on Precision Drilling Announces Credit Facility Extension and $150 Million Total Debt Reduction in 2018
This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. CALGARY, Alberta, Dec. 13, Read More