Tag: europe

CGG to cut about 400 jobs after 2014 $1.2 billion net loss

Last year, Europe’s second-biggest oil-services provider Technip approached CGG about a combination of the two French companies specialized in providing equipment and studies for the energy industry. The surveyor, which has cut jobs and reduced its fleet, rejected the bid.  More »

Oil slump threatens easy life of affluent Norwegians

After a decade of an oil-and-gas boom, plunging energy prices are shaking Norwegians out of a Utopian reverie that guaranteed workers lengthy summer vacations, generous health and social benefits, and allowed them to leave work at 4 p.m. and even earlier on Fridays.  More »

Obama’s chief economist says oil price drop offsets slowdown overseas

The annual Economic Report of the President, to be released Thursday, projected 3 percent annual growth this year.  More »

Siemens to cut 7,800 employees

German industrial conglomerate Siemens AG said Friday it will scrap 7,800 jobs over the next two years to cut costs, as it faces lower energy equipment profits and a battered European economy.  More »

Siemens said to plan 7,400 job cuts as CEO reduces costs

The cuts, representing about 2 percent of Siemens’s global workforce, may be announced as early as this week.  More »

U.S., Russia fight over Europe’s energy future

It’s all about heat and electricity for tens of millions of Europeans.  More »

Russia pumps most oil since Soviet era despite sanctions

The previous post-Soviet oil production record was 10.64 million barrels a day in October, CDU-TEK data show.  More »

Halliburton lays off 1,000 employees in Eastern Hemisphere

HOUSTON — Oil field giant Halliburton said Thursday it is laying off about 1,000 employees across multiple regions in the Eastern Hemisphere, effective immediately, a day after a company executive said it expects a $75 million restructuring charge in the fourth quarter.  More »

German utility company E.ON to focus on renewables

E.ON said in a statement late Sunday that the new strategy will see it quit conventional power generation, global energy trading, exploration and production.  More »

Halliburton-Baker Hughes deal would rank among top 20 energy deals of last 20 years

Data shows that the 20 biggest oil and gas deals of the last century have all been announced since 1998.  More »

Oil prices hit 3-year lows after Saudi discount

The market was shaken by news that Saudi Arabia was cutting prices for the U.S. to compete with the surge in oil production there.  More »

Ukraine, Moscow clinch deal on Russian natural gas supply

Moscow and Kiev on Thursday clinched a multi-billion dollar deal that will guarantee that Russian gas exports flow into Ukraine and beyond to the European Union throughout the winter despite their intense rivalry over the fighting in eastern Ukraine.  More »

Coal-rich Poland ready to block EU climate deal

Poland says that EU’s proposed pace for increasing reliance on renewable energy sources is too fast for Eastern European countries that are trying to grow their economies as they restructure old, energy-dependent industries.  More »

Halliburton execs point to U.S. shale as profits leap 70 percent

U.S. shale plays have become laboratories for experiments with more production stages, more sand and, in West Texas, a lot more horizontal rigs – a development Halliburton executives say has required an unprecedented level of oil-field service intensity.  More »

BG Group appoints Statoil CEO to end leadership void

BG’s new appointment may end a turbulent three-year period where the company’s stock dropped 35 percent.  More »
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