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5 Things Schlumberger Management Wants You to Know About the Oil Market in 2017

If you want an idea of where the oil market is headed, the first thing you need to read is a conference call transcript from <b>Schlumberger</b> (NYSE: SLB). As the world's largest oil services company, it has connections with just about every producer out there, from the titan Saudi Aramco to the small …

The largest oil deposit ever found in America was just discovered in Texas

An estimated average of 20 billion barrels of oil and 1.6 billion barrels of natural gas liquids are available for the taking in the Wolfcamp shale, which is in the Midland Basin portion of Texas' Permian Basin.<p>Based on a West Texas Intermediate crude oil price of $45 per barrel, those deposits are …

Oil & Gas Industry

“World’s biggest bribe scandal”: Report on oil corruption exposes how corporations help destabilize Middle East

<b>An Iraqi Oil Field (Reuters/Azad Lashkari)</b><p>Leaked docs show how the shadowy company Unaoil bribes Middle Eastern regimes for oil contracts for multinationals<p>Ben Norton<p>March 30, 2016 8:21pm (UTC)<p>Unaoil is the most important company you've never heard of. It is at the heart of an enormous …

Middle East

Houston, We Have a Problem: The Oil Rout Hits Texas

Prices for mansions in Houston’s swankiest neighborhood have tumbled in lock step with crude prices. The Houston Opera has offered free season …

The oil slump has cut this drilling company's US revenue in half

Coast Guard/BSEE/Handout via Reuters<p>It might not be the most well-known company in the world but oil services group Schlumberger is a good indicator …

Williams: Oil and gas industry must face challenge of cyber safety

Image 1 of / 1<p>Caption<p>Close<p>The oil and gas business is a significant part of Texas history and culture, and a major economic contributor to our …

Cybersecurity

Saudi Arabia delays contractor payments as low oil prices push country into deficit

Saudi Arabia is delaying payments to government contractors as the slump in oil prices pushes the country into a deficit for the first time since …

Oil down about 4 percent; gasoline drop adds to China, Iran worries

NEW YORK (Reuters) - Crude oil fell about 4 percent on Monday after a tumble in gasoline futures added pressure to a market slumping on slower growth in China and signs that Iranian oil will return to the market soon following implementation of its nuclear deal.<p>An offshore oil platform is seen at …

Archives

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Demographics

Oil rally snaps gas price stability

Last week's sharp rally in crude oil prices and ongoing refinery issues left U.S. drivers paying more at the pump for the first time in weeks, …

Oil

"There's No More Fat To Be Cut:" Desperate Oil Producers Cut Salaries To Save Mission Critical Jobs

Early last month, Citi “exposed” what it said was shale’s “dirty little secret.” In a nutshell, the entire business model is uneconomic and thus the …

Russia abandons hope of oil price recovery and turns to the plough

The Kremlin has launched an incredible volte-face in economic policy and turned to traditional industries like farming in the face of tumbling oil prices<p>Russia has abandoned hopes for a lasting recovery in oil prices, bracing for a new era of abundant crude as US shale production transforms the …

Stars and Oil: Milky Way Shines Over Texas Oilfield (Photo)

The Milky Way illuminates a pump jack working at night in Texas. While oil fields through the state are well lit, this landscape shot captures the …

Oil & Gas Industry

Market Rout Deepens As Deflation Jumps From Oil To Everything Else

<i>Be scared, or be bold? At $39 a barrel, oil is priced well below marginal cost, and giant oil companies now show dividend yields of 7%. Hope you have some dry powder.</i><p>In the early stages of a commodities downturn, lower prices help spur overall economic growth. Cheap inputs make manufactured goods …

China

The natural gas industry has been destroyed by the price drop

Two natural gas producers have already thrown in the towel: Quicksilver Resources filed for Chapter 11 bankruptcy in March, listing $1.21 billion in assets and $2.35 billion in debts. Much larger Samson Resources has scheduled its date with bankruptcy court for September 15.<p>In 2007, the hype around …

Schlumberger to acquire Cameron in $14.8 billion deal

Oilfield-services giant Schlumberger Ltd. SLB, +0.98% announced Wednesday that it plans to acquire Cameron International Corp. CAM, +0.68% in a deal …

Crude oil collapses to a stunning new low

Along with almost all other assets, crude-oil prices are collapsing.<p>In afternoon trade on Monday, the price of West Texas Intermediate crashed more than 6% to break below $38 a barrel, a new post-financial-crisis low for the commodity that has been getting hacksawed this year.<p>WTI prices are down …