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Crude oil

Paal Kibsgaard, chairman and CEO of Schlumberger. (Andrey Rudakov/Bloomberg)

Cameron rebuffed Schlumberger for months in hopes for a better deal

The two firms edged closer to an agreement as oil prices collapsed and wild swings in the stock market darkened the outlook for the oil field services industry.
A worker adjusts hoses during a hydraulic fracturing operation at an Encana Corp. gas well, near Mead, Colo. (AP Photo/Brennan Linsley)

Proposed fracking in Ohio national forest gets hearings

Attendees of a series of U.S. Bureau of Land Management hearings being held this week say both opponents and supporters have been out in force.
In this Jan. 5, 2015 file photo, Ram pickup trucks are on display on the lot at Landmark Dodge Chrysler Jeep RAM in Morrow, Ga. Fiat Chrysler sold almost 41,000 Rams in October 2015, the company reported Tuesday, Nov. 3, 2015, a 3 percent gain over a year ago for FCA’s top-selling vehicle. (AP Photo/John Bazemore, File)

Cheap gasoline spurring record truck sales, hurting fuel economy

So far this year, sales of light trucks have made up a little more than 56 percent of all vehicle sales in the U.S., their biggest share of the market in years
Map of Shell prospects in the Gulf of Mexico. (Shell)

Shell finds 100 million oil barrels in deep-water Gulf discovery

Royal Dutch Shell has drilled its longest-ever well and found 100 million barrels of oil equivalent buried at one of its recent deep-water discoveries in the Gulf of Mexico, the company said Wednesday.
(Jerry Lara/San Antonio Express-News)

Dallas Fed CEO says crude glut could persist until 2017

The state’s unemployment rate at 4.3 percent remains well below the 5 percent national average, even as oil and gas companies curtail spending plans and shrink their payrolls.
The Headquarters of the ENI energy company are seen in Rome, Italy, Wednesday, December 14, 2005. Gazprom would consider buying a stake in the electricity unit of Eni SpA, Europe's fourth-biggest power company, as a way to enter the Italian electricity production market, Il Sole/24 Ore reported, citing an interview with Gazprom Deputy Chief Executive Alexander Medvedev. Photographer: Chris Warde-Jones/Bloomberg News

After leading oil industry on exploration, Eni seeks to cash in

In the last decade, the company has spent $41 billion drilling dozens of wells from Mozambique to Pakistan and Angola.
(AP Photo/Pat Sullivan, File)

Regulators approve Schlumberger’s bid for Cameron

The U.S. Department of Justice found that the transaction did not violate antitrust laws, and cleared the proposed merger without any conditions.
A worker seen at the Air Liquide factory in Moissy Cramayel, France, thursday, Feb. 22, 2007. Photographer : Fabrice Dimier / Bloomberg News

Air Liquide offers to buy Airgas in deal worth about $10.3 billion

The Air Liquide offer comes more than four years after Airgas fended off a lengthy takeover bid from another rival, Air Products and Chemicals Inc.
A worker uses equipment to secure a section of pipe on an oil drilling platform operated by Tatneft OAO near Almetyevsk, Russia, on Friday, July 31, 2015. Eleven months of surviving with oil below $100 have left Russia hardened enough to endure a monthlong drop to $40 a barrel, a survey of economists showed. Photographer: Andrey Rudakov/Bloomberg

Worldwide oil job losses climb to 233,000, recruiter says

Swift Worldwide Resources CEO Tobias Read said there’s no sign of an immediate turnaround in the oil and gas job market and the situation “is likely to get worse.”
Traders work in the crude oil options pit on the floor of the New York Mercantile Exchange. (Daniel Acker/Bloomberg News)

Moody’s: Distressed exchanges becoming more common

Recently, companies such as Venoco, Halcon Resources Corp. and Goodrich Petroleum Corp. have offered creditors distressed exchanges, according to Moody’s.