Energy Update
Oil company chiefs appear to have accepted that oil prices are going to be around the $50/b mark for awhile and that they need to find a way to be profitable for the long while.
(Tue, 22 Sep 2015) In response to the decline in crude oil prices since mid-2014, the number of active offshore rigs has declined worldwide, dropping close to 20%?304 offshore rigs were operating in August 2015, down from 377 in August 2014. During this period, the number of active offshore rigs in the U.S. Gulf of Mexico (GOM) dropped more rapidly, falling by 46%. Over the past 15 years, the U.S. GOM's share of active offshore rigs worldwide has declined significantly.
BOSTON/NEW YORK, Sept 22 (Reuters) - A group of shareholders is looking to strip Bank of America Corp Chief Executive Brian Moynihan of his chairman title on Tuesday in an investor vote and whether they fail or succeed, they have notched a victory just by getting the bank to hold a special meeting on the matter.
MELBOURNE, Sept 22 (Reuters) - Australian coal miner New Hope Corp, which has a war chest for potential acquisitions, said it expects coal mine deals to pick up over the next year as buyers' and sellers' views on the outlook for the battered sector start to converge.
Sept 21 (Reuters) - Halliburton Co, the world's No.
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