Baker Hughes reports that the US oil/gas rig counts fell for a fourth month, to a low of Oct 2021.
Baker Hughes, a leading energy services company, said that the U.S. has cut its number of operating oil and gas rigs for the fourth consecutive month to the lowest level since October 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by seven in the week ending June 27.
Baker Hughes reports that US oil/gas rig counts have fallen for the 4th consecutive month, to a low of Oct 2021.
Baker Hughes, a leading energy services company, said that the U.S. has cut its number of operating oil and gas rigs for the fourth consecutive month to the lowest level since October 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by seven in the week ending June 27.
As new gas plants become more expensive, renewable energy is still the cheapest way to build power.
Lazard, in a Monday report, said that renewable power sources like solar and onshore winds are the least expensive, and fastest, power generation methods to deploy in the United States. This is true even without any government subsidies. In its annual Levelized Energy+ analysis, Lazard, an international financial services firm…
Baker Hughes reports that US drillers have cut oil/gas drilling rigs by 7th week, to the lowest level since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the seventh consecutive week. This is the lowest level since November 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by four in the week ending June 13 to 555.
Baker Hughes reports that US drillers have cut oil/gas drilling rigs by 7th week, to the lowest level since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the seventh consecutive week. This is the lowest level since November 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by four in the week ending June 13 to 555.
Baker Hughes reports that US oil/gas rig counts have fallen for the 6th consecutive week, to levels not seen since 2021.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the sixth consecutive week for the first since September 2023. The number of oil and gas drilling rigs, a good indicator of future production, dropped by four in the week ending June 6, to 559, the lowest level since November 2021.
Brendan Nelson, chair of the audit committee at HSBC, is named interim group chairman
HSBC Holdings PLC announced on Friday that Brendan Nelson will be the interim group chairman after Mark Tucker retires from his role on September 30, following his retirement. Tucker will also resign as a member of the board on that date. The process of selecting the permanent HSBC Group Chair, led by Ann Godbehere (a senior independent director)…
US drillers reduce oil and gas rigs at lowest level since November 2021, according to Baker Hughes
Baker Hughes, an energy services company, said Friday that U.S. firms have cut back on the number of natural gas and oil rigs for the fourth consecutive week, making it the lowest count since November 2021. The number of oil and gas drilling rigs, a good indicator of future production, dropped by 10 in the week ending May 23.
Egypt's EFG Hermes reports Q1 revenue down 34% from previous FX gains
The revenue of Egyptian financial services firm EFG Holding decreased by 34% annually in the first quarter due to a gain in foreign currency in the same period in 2024. The quarter saw revenue fall to 5.6 billion Egyptian Pounds ($112,45 million), and net profit before tax and minority interest fell 34% to 1,2 billion pounds.
US drillers have cut oil and natural gas rigs in the third week of a row, according to Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the third consecutive week for the first since mid-April. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending May 16 to 576, the lowest level since January.
US drillers have cut oil and natural gas rigs in the third week of a row, according to Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the first week since mid-April. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending May 16 to 576, the lowest level since January.
Finance Minister: Indonesia's growth in 2025 will be around 5%, despite trade tensions
Indonesia's growth will probably remain around 5% this year despite the trade tensions. The finance minister stated that a government delegation was still negotiating with Washington in order to avoid high tariffs. Minister's forecast is about the same as last year's growth rate of 5.03%. The government has set a target of 5.2% growth for this year…
Brazil's Batista Family seeks to expand its footprint in the Oil Sector
According to two sources familiar with the deal, Brazilian oil and natural gas company Fluxus is owned by J&F Group, the holding firm of the Batistas. It has made a nonbinding offer to purchase the assets on land of Brava Energia. J&F acquired Fluxus in 2023. It also purchased a Pluspetrol oil field in Argentina.
Indonesia will offer carbon credits to foreign buyers in the near future
The carbon exchange in Indonesia announced that Indonesia will begin offering carbon credits to international buyers as early as next week. This is to raise money to support efforts to reach its carbon neutrality goal. Indonesia, an archipelago that has the third largest rainforest in the world, is one of the top 10 emitters of greenhouse gases.
After cutting debt, Vallourec pays first dividend after 10 years
French steel tube maker Vallourec announced on Friday that it will pay its first dividend for 10 years, after further reducing its debt and completing its financial restructuring plan. However, the group's shares fell 3% at 0805 GMT after it reported a decline in its third quarter earnings. The group's net debt was 240 million euros (253.42 millions) on Sept. 30.
Wall Street welcomes Trump's comeback, but with trepidation
Wall Street executives praised the prospect of business friendly regulations and a flurry of deals, as they analysed the implications of Donald Trump’s reelection. However, some were uneasy over his unpredictable nature. Executives from banks and private equity firms said that Trump's return will likely…
According to a Nasscom-Zinnov study, India's global center market will grow to $105 Billion by 2030.
According to a report released by the IT industry association Nasscom on Wednesday, India's Global Capability Centres (GCCs), which were valued at $64.6 billion during fiscal 2024 will likely grow to between $99 and 105 billion dollars by 2030. India's GCCs are no longer low-cost outsourcing centers, but local offices that support their parent companies in multiple areas…
US drillers have cut oil and gas drilling rigs in the fourth week of a row, according to Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the fourth consecutive week for the first since late June. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one to 582 during the week ending Sept. 6, which is the lowest level since June.
US Drillers Add Oil and Gas Rigs for Fifth Week in Six
U.S. energy firms this week added oil and natural gas rigs for the fifth time in six weeks although growth in the rig count over the past few months has slowed as drillers continue to focus on capital discipline despite firmer oil prices.The oil and gas rig count, an early indicator of future output, rose three to 491 in the week to Aug.
China's Sinopec Starts Hiring for New Risk Management Unit
China Petrochemical Corp, or Sinopec Group, has started hiring for six top management positions for a new commodities risk management unit, according to a statement posted on the state energy company's official wechat account on Sunday.Formally known as Sinopec Chaoyang Risk Management Co and with a registered capital of 300 million yuan ($42.40 million)…
