Saturday 30 July 2016
 
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Oil companies

High risk of bankruptcy for one-third of oil firms

Roughly a third of oil producers are at high risk of slipping into bankruptcy this year as low commodity prices crimp their access to cash and ability to cut debt, according to a study by Deloitte, the auditing and consulting firm.

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As Big Oil shrinks, boards plot paths out of crisis

As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 per cent over the pa

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Oil firms rush to exploit end of US crude export ban

US energy group Enterprise and oil trader Vitol raced to exploit the end of a 40-year ban on most US crude exports, the first of many firms eager to "stress test" last week's historic opening. Despite a sudden change

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Oil price flux unlikely to hit long-term sector growth

The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were already unfolding. The new rep

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Oil price flux unlikely to hit long-term sector growth

The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were already unfolding. The new rep

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Iran lures oil majors with new deals model

Iran will have a new, attractive investment model for oil contracts by September, its president and oil minister told some of the world's top oil executives here on Thursday, part of its drive to win back Western business. Ira

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ME national oil firms plan $140bn in contracts

About $140 billion worth of engineering and construction contracts have been either awarded by national oil companies (NOCs) or are planned throughout the Middle East in 2011, according to a report. Upstream oil and gas development and pip

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Oil companies brace for Tropical Storm Lee

Tropical Storm Lee threatened the Louisiana coast with torrential rains and flooding and shut nearly half of US offshore crude oil production and a third of its gas production. The slow-moving storm is expected to reach the Louisiana coast

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Oil firms bet on survival of Syria's Al Assad

Oil companies in Europe are betting on the survival of President Bashar Al-Assad in Syria, in sharp contrast to their support for Libya's opposition six months ago, even while the European Union is expected to soon slap oil sanctions on Damasc

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Oil majors stall Libya drilling, withdraw staff

European oil and gas companies have evacuated staff and suspended drilling preparations in Libya as violence spread across the North African country. Norway's Statoil, Austria's OMV and Royal Dutch Shell have moved some staff as scores of

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