Exxon CEO says Argentina shale investment may exceed $10 billion BUENOS AIRES (Bloomberg) -- Exxon Mobil Corp. may invest more than $10 billion in Argentina’s Vaca Muerta shale formation in the next decades, Chairman and CEO Rex Tillerson said Thursday. The...

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Schlumberger acquires Omron Oilfield and Marine, Inc. HOUSTON --Schlumberger has acquired Omron Oilfield and Marine, Inc., a U.S.-based OMRON Corporation group company, which is a global leader in automation technology and solutions. “The addition...

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Increased field decline on mature fields is becoming visible: Rystad HOUSTON -- For the first time since the 1980s, the industry will experience two consecutive years of decreased global E&P investment, according to the latest analysis by...

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Weatherford Canada drilling services facility gains API Q2 certification HOUSTON, Texas -- Weatherford International plc announced that the Weatherford drilling services facility in Nisku, Alberta, Canada, received API specification Q2 certification....

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OPEC ministers say oil market moving in right direction VIENNA, Austria (Bloomberg) -- OPEC ministers gathering in Vienna for the group’s biannual meeting said the oil market is moving in the right direction as a supply glut dissipates. While...

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Statoil drills minor discovery, dry appraisal well in North Sea STAVANGER, Norway -- Statoil Petroleum, operator of production license 035, is in the process of concluding the drilling of wildcat well 30/11-12 S and appraisal well 30/11-12 A....

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Iran plans oilfield tenders in June for international companies TEHRAN, Iran (Bloomberg) -- Iran plans to invite international companies to bid for oilfield development rights in June, a government official said, as the Persian Gulf country...

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Oil pessimists exit market as supplies seen closer to balance NEW YORK (Bloomberg) -- The oil market doomsayers are beginning to capitulate. Speculators reduced bets on falling prices to the lowest level in 11 months as oil briefly breached $50/bbl...

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