European Union (EU) flags fly outside the European Council building in Brussels, Belgium, on Tuesday, Nov. 24, 2015. Authorities in Brussels extended the city's highest-level terror alert into next week as they maintained their warning Islamic State terrorists plan to attack highly populated areas like shopping malls and public transport systems. Photographer: Jasper Juinen/Bloomberg

EU signs off on Schlumberger’s acquisition of Cameron

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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.
President Barack Obama arrives to speak on March 22, 2012 at the TransCanada Stillwater pipe yard in Cushing, Oklahoma. (AFP PHOTO/Mandel Ngan)

After Keystone victory, environmentalists pushing Obama on Atlantic drilling

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Activists on Wednesday delivered 2 million petitions to the White House opposing the proposed sale of drilling rights from Virginia to South Carolina.
Equipment is housed at National Oilwell Varco's distribution center in La Porte, Texas. (NOV)

NOV records $1.5 billion net loss for the fourth quarter

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The oilfield equipment and services giant saw its revenues drop 60 percent in the quarter, but NOV also recorded $1.63 billion in pre-tax impairment charges.
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Industry study predicts Gulf drilling plummet from safety rule

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Announced last April by Secretary of the Interior Sally Jewel, the rule would tighten standards on blowout preventers – the device that failed in the case of Deepwater – as well as put more controls on how companies drill and monitor wells deep under the surface of the ocean.
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Democratic U.S. Sen. Bob Menendez stands behind a Protect Our Coast sign, as he addresses a large rally opposing federal plans that would allow oil and gas drilling in the Atlantic Ocean, Sunday, Jan. 31, 2016, in Asbury Park, N.J. U.S. Sens. Menendez and Cory Booker and Rep. Frank Pallone, Jr., were among those who cited the potential for "catastrophic" oil spills that could cause economic and environmental harm at the Jersey shore. (AP Photo/Mel Evans)

Lawmakers, officials voice opposition to Atlantic drilling

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Officials from several New Jersey shore towns joined with some members of the state’s congressional delegation Sunday to oppose federal plans that would allow oil and gas drilling in the Atlantic Ocean.
(Kristian Helgesen/Bloomberg)

Rystad: $230 billion in oil projects mothballed because of cheap crude

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That’s 38 percent higher than Rystad’s previous estimate last July, and the number of projects that have been delayed since then has risen from 40 to 63.
FMC Technologies elaborate booth in the Offshore Technology Conference at the NRG Center Wednesday, May 6, 2015, in Houston, Texas. (Gary Coronado/Houston Chronicle)

FMC Technologies scores $180 million contract for project offshore Australia

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Houston-based FMC Technologies landed an $180 million contract to design, manufacture and supply subsea production systems for a project offshore Western Australia, the company announced.
A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore will miss $15.4 million interest payment

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Paragon will now have a 30-day grace period to either come up with the needed $15.4 million or to work out a deal with its creditors.
A rig worker looks out across the North Sea aboard the Troll A natural gas platform, operated by Statoil ASA, in the North Sea, Norway, on Wednesday, Oct. 21, 2015. Norway is on track for record gas production this year after Statoil ASA put an end to technical issues that limited Troll's capacity. Photographer: Krister Soerboe/Bloomberg

Offshore driller Atwood warns of possible revenue declines, impairment charge

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Atwood Oceanics expects quarterly revenues to decline from the same time last year, and it may take a multi-million dollar impairment charge on another rig, as the lingering oil slump continues to batter offshore contractors.
API President Jack Gerard  (Bloomberg)

Top oil lobbyist touts U.S. energy production, emissions reductions

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The head of the oil industry’s top lobbying group says the U.S. is an emerging global energy powerhouse, and can can grow even stronger if the federal government imposes fewer regulations.