Energy Update

You are here

Home » Global Read

SandRidge Energy files for bankruptcy protection

May 16 (Reuters) - U.S. oil and gas producer SandRidge
Energy Inc and some of its units filed for bankruptcy
protection on Monday, the latest company to fall victim to weak
oil prices.

UPDATE 2-Chevron Thailand to cut 800 jobs under $500 mln cost-savings plan

BANGKOK, May 16 (Reuters) - U.S. oil firm Chevron
plans to lay off 800 staff this year in Thailand as it looks to
cut $500 million in costs at the Thai business to weather the
fall in global oil prices, the company said on Monday.

UPDATE 4-Oil prices rise on Nigeria outages, Goldman forecast

* Inventories still very high - Morgan Stanley

(Updates prices, adds details)

UPDATE 1-Penn West Petroleum flags going concern risk

May 16 (Reuters) - Canadian oil and gas producer Penn West
Petroleum Ltd said on Monday it may be in
default on its financial covenants at the end of the second
quarter and raised doubts about its ability to continue as a
going concern.

Unaoil denies media link to corruption, says it is a victim of extortion

SYDNEY, May 16 (Reuters) - Monaco-based oil services company
Unaoil denied on Monday a media report linking it to corrupt
practices involving big oil companies said it has been the
victim of an extortion attempt by unidentified criminals.

RPT-Accusations fly as Williams files lawsuit to save deal with ETE

May 16 (Reuters) - The war of words between U.S. pipeline
operators Williams and Energy Transfer Equity (ETE)
has worsened after Williams filed a lawsuit to pressure
its would-be buyer to proceed with their merger agreement.

REUTERS SUMMIT-Canada regulator pushes back on tougher capital demands

* For other news from Reuters Financial Regulation Summit,
click on http://www.reuters.com/summit/FinancialRegulation16

Penn West Petroleum flags going concern risk

May 16 (Reuters) - Canadian oil and gas producer Penn West
Petroleum Ltd said on Monday it may be in
default on its financial covenants at the end of the second
quarter and raised doubts about its ability to continue as a
going concern.

UPDATE 1-Nigerian army says arrests suspected "Avengers" militants in Delta

ABUJA, Nigeria, May 16 (Reuters) - The Nigerian army said on
Monday it had arrested members of a militant group which has
claimed responsibility for a wave of attacks on pipelines in the
restive Delta region.

Poo-powered pumps help Pakistan farmers grow richer, greener

FATEH JHANG, Pakistan, May 16 (Thomson Reuters Foundation) -
F or farmer Mujahid Abbasi, switching the power source for his
irrigation pump from diesel to biogas has brought economic and
health gains.

Pages

GET IN TOUCH

  • 1875 I Street NW, International Square, 
       Washington, District Of Columbia, 20006
  • Phone: +1 (888) 317-3839
  • Email: info@mglllc.com

About

Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.

Photos