Mirroring sentiments expressed by its peers, oilfield services company Weatherford said the market, particularly in North America, has bottomed out. Weatherford, based in Switzerland with offices in Houston, reported second quarter revenue of $1.4 billion, down by almost half from last year. In North America, the company said revenue was ... Read More »
The Army Saturday foiled an infiltration bid on the Line of Control in northKashmir’s Naugam sector. Two soldiers and two militants were killed in the operation, which was underway till Saturday evening. This is the second infiltration attempt foiled by the Army on the LoC since Wednesday. It comes at ... Read More »
Husky Energy said it has more than 400 people on the ground in Saskatchewan responding to an oil spill and committed itself to a transparent investigation. About 1,500 barrels of oil were released near the banks of the North Saskatchewan River after a pipeline rupture last week. Husky Energy said ... Read More »
One of the Dalits who had consumed poisonous substance during Dalit protests in Rajkot against Una flogging died on Sunday morning at Ahmedabad civil hospital. Yogeshbhai Sarikhada, the 23-year-old Dalit, belonged to the Anusuchit Jati Vas in Moti Parabadi district of Rajkot. Sarikhada succumbed in Ahmedabad Civil hospital where he had ... Read More »
Total crude oil production in Texas recorded nearly a 3 percent decline year-on-year for May, a state energy regulator reported. The Railroad Commission of Texas, the state’s energy regulator, said that overall crude oil production was lower than last year. “Texas preliminary May 2016 crude oil production averaged 2,359,072 barrels ... Read More »
The government is set to face resistance in passage of the bill which seeks to amend the Enemy Property Act, with major opposition parties Congress, Samajwadi Party, JD(U) and CPI opposing its key provisions. The Enemy Property (Amendment and Validation) Bill seeking to make changes in the Enemy Property Act, ... Read More »
– Lower crude oil prices continue to present problems for the industry and Shell is now focused on retooling efforts, the chief executive officer said. “We are making significant and lasting changes to Shell’s working practices and cost structure,” CEO Ben van Buerden said in a statement. Shell, moving through ... Read More »
All things considered, a 10 percent decline in revenue for the second quarter is encouraging, the top executive at oilfield services company Baker Hughes said. Baker Hughes, one of the leading companies servicing the exploration and production side of the industry, reported second quarter revenue at $2.4 billion, down 10 ... Read More »
Crude oil prices searched for momentum in early Thursday trading amid uncertainty about the prospects for major energy market recovery. Goldman Sachs in a research note Thursday said there were tit-for-tat forces ranging from a slowdown in North American oil to higher production in Iran that made for an uncertain ... Read More »
Through his programme Mann Ki Baat, Prime Minister Narendra Modi apprised the nation of a new government scheme–Pradhan Mantri Surakshit Matritva Abhiyan– aimed to curb India’s worrying maternal mortality rates. The prime minister said that though India’s maternal mortality rate was declining, there were still many pregnant women whose lives could not be ... Read More »
North American energy giant ConocoPhillips said second quarter production was lower in part because of the impact of wildfires this year in Canada. Conoco said it recorded a net loss of $1.1 billion for the second quarter, compared with a loss of just $179 million one year ago. It’s the ... Read More »
The Chinese government issued nationwide ride-hailing regulations that will allow companies that include Uber and its Chinese counterpart Didi Chuxing to legally operate in the country. The new rules, which will take effect Nov. 1, require that companies and their drivers apply for and receive licenses through the government. The ... Read More »
