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The field produced about 4,800 barrels of oil a day in November
Despite keeping its earnings positive, the chemical products manufacturer saw its quarterly revenues decline by 23 percent.
If Eni goes ahead with the auction, the business could attract private equity firms and utility companies, sources said.
On the 84th birthday of John Williams, the crude complex is looking anything but composed. There are lots of reasons for cheer today – Chinese Lunar New Year (hark, year of the monkey), the Rio Carnival, to name two – but price action in financial markets is not one of them. As dollar strength returns […]
Schlumberger, the world’s largest oil field services company with headquarters in Houston, Paris and The Hague, has moved quickly to wrap up the acquisition of the large oil equipment and technology manufacturer since the deal was first announced at the end of August.
Last month, the price of oil fell below $30 a barrel, causing the ruble to plunge to record lows.
Some business deals are ready to be inked but others are still in negotiation as a few sanctions not related to the nuclear program remain in place, particularly by the U.S., on the trade of goods that could be used for military or intelligence purposes.
Russia, which relies on oil and natural gas for almost half its fiscal revenue, ran a budget deficit of 2.6 percent in 2015, the highest in five years.
While Schlumberger’s CEO said he wants the industry to rebound soon, he said the longer the downturn lasts “the stronger we will emerge relative to our competition.”
Cheney said the U.S. should get more involved with energy diplomacy to weaken its enemies