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Summary Oil and gas producers cut $2 bln in expenditure, Reuters analysis shows US oil rig counts have fallen by 69 this year Trump’s trade policies and tariffs push up material costs HOUSTON, Sept 8 (Reuters) – The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower …
Cuts to US Oil Jobs and Spending Threaten Output Growth Read More »
U.S. oilfield services provider Halliburton has been cutting staff in recent weeks, according to two sources familiar with the matter, marking the latest workforce reduction in the U.S. oil industry as it faces rising costs and a period of lower prices and volatility. Global benchmark Brent crude oil prices have dropped more than 10% this …
Halliburton Reduces Workforce as Oil Activity Slumps Read More »
By Dr. Michael Davies The conditions that flame arresters are subjected to in numerous industrial operations necessitate regular inspection and maintenance. Regular maintenance can easily become a burden in these situations. In process operation, OPEX (Operational Expenditure) should have a key focus on controlling cost by minimizing downtime and avoiding equipment failure during maintenance. In …
Significant step high-grades the portfolio and adds value accretive customer offerings, transforms Baker Hughes’ Industrial & Energy Technology segment Chart Industries brings differentiated capabilities across a diverse set of end markets advantaged by secular growth drivers such as natural gas, data centers and decarbonization Highly complementary capabilities enable enhanced value-creation solutions for customers across the lifecycle …
Oil and gas equipment supplier Baker Hughes is nearing a $13.6 billion cash deal to buy Chart Industries, edging out rival suitor Flowserve, the Financial Times reported on Monday, citing sources familiar with the matter.A potential deal would displace an agreement Chart made in June to combine with flow control systems maker Flowserve in a …
Baker Hughes Nears $13.6 Billion Deal to Buy Chart, Edging Out Flowserve, FT Reports Read More »
Energy Secretary Chris Wright reassured US oil companies that the turmoil from President Donald Trump’s trade war is short-term and the administration supports increased crude output. Wright predicted that the uncertainty will last only “a few more weeks” and that the administration is focused on making it cheaper and easier to pump crude and natural …
Energy Secretary Aims to Reassure Oil Bosses Amid Trade War Read More »
Summary SLB joins rivals Halliburton and Baker Hughes in flagging caution Latin America revenue dips 10%, driven by a sharp decline in drilling in Mexico North America revenue rises 8% April 25 (Reuters) – Top oilfield services provider SLB missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, …
SLB Wraps Up Oilfield Services Quarter With Profit Miss, Cautious Outlook Read More »
(Reuters) – U.S. oilfield technology firm Baker Hughes on Tuesday flagged a potential impact on its annual core profit of between $100 million and $200 million due to tariffs. U.S. President Donald Trump’s trade policy has heightened uncertainty in the energy industry, as the ensuing trade war is expected to curb global economic growth and, …
Baker Hughes Flags Tariff Impact on Full-Year Core Profit Read More »
Results next week will likely provide a peek into how the world’s top three oilfield services companies are navigating the uncertainty fueled by the on-again, off-again U.S. tariffs, as well as a recent slide in oil prices. President Donald Trump promised to increase U.S. oil and gas production, campaigning on the motto of “drill baby …
US Oilfield Services Firms Brace for Earnings as Tariffs Cloud Outlook Read More »
Oilfield service providers will face modest hits to earnings from U.S. President Donald Trump’s decision to impose tariffs on steel imports, Liberty Energy Chief Executive Ron Gusek said on Thursday. Trump imposed 25% tariffs on steel and aluminum on March 12, and more could be coming April 2. A Dallas Federal Reserve survey on Wednesday …
Liberty Energy CEO Gusek Sees Modest Impact of Steel Tariffs on Oilfield Services Read More »
