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Halliburton

Employees at National Oilwell Varco,  6390 N. Eldridge Parkway, work on a lower blowout preventer stack, shown left, and lower marine riser package, shown right, Thursday, April 18, 2013, in Houston. ( Melissa Phillip / Houston Chronicle )

GE oil deal offers new model to prevent BP-like crude spills

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The agreement represents a new business model for the industry, providing a steady income stream for GE, and decreased risk for the driller, the companies said in a joint statement Monday.
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.
U.S. regulators expect their review of the proposed Halliburton-Baker Hughes merger to last into the new year.  (AP Photo)

Halliburton poised to offer Baker Hughes deal concessions to EU

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The company said Wednesday that it would offer the remedies soon, after the EU pushed back the deadline for reviewing the deal by 20 working days to June 23.
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.
U.S. regulators expect their review of the proposed Halliburton-Baker Hughes merger to last into the new year.  (AP Photo)

Halliburton sheds another 4,000 jobs

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Collapsing commodity prices have spurred a retreat from the oil patch in the U.S. and around the world.
Schlumberger CEO Paal Kibsgaard (credit: Schlumberger)

Schlumberger CEO “optimistic” job cuts are over after 34,000 slashed

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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.”
(AP Photo/Pat Sullivan, File)

Schlumberger cut thousands of jobs in fourth quarter on $1 billion loss

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The oil crash has triggered the largest job cuts in oil field services, and Schlumberger has now eliminated about 34,000 jobs globally — a more than 25 percent reduction since its peak of nearly 130,000 jobs in 2014.
Former Vice President Dick Cheney speaks in Washington, Sept. 10, 2014. Cheney, who was a sponsor of the brutal interrogation tactics used on detainees suspected of being linked to al-Qaida, on Sunday escalated his counterattack on the Senate Intelligence Committee's report, which found that the CIA's now-defunct program violated American values and produced little useful intelligence. (Doug Mills/ The New York Times)

Cheney chides Obama on fossil fuel stance, lifting Iran sanctions

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Cheney said the U.S. should get more involved with energy diplomacy to weaken its enemies
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

European Commission launches Halliburton-Baker Hughes investigation

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The anticipated move by the commission leaves Halliburton fighting antitrust reviews in both the U.S. and Europe as the proposed merger continues to face doubts and delays. The European Commission review could last as late as May 26 — well past the extended April 30 deadline for receiving approval from the U.S. Department of Justice.
A Halliburton Co. worker walks through an Anadarko Petroleum Corp. hydraulic fracturing (fracking) site north of Dacono, Colorado, U.S., on Tuesday, Aug. 12, 2014. U.S. crude oil inventories rose by 1.4 million barrels in the week ended Aug. 8, to 367 million, compared with the consensus-estimated draw of 1.6 million. Photographer: Jamie Schwaberow/Bloomberg

Halliburton facing long EU probe on Baker Hughes deal

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Halliburton had until midnight Tuesday to propose remedies to the European Commission in Brussels but passed up the opportunity, according to the regulator’s press office.