Halliburton reports a better-than-expected quarterly profit as costs cuts helped offset the impact of a steep drop in drilling activity.

Crude futures settle with little change after data shows the US oil rig count barely rising, allaying fears of an acceleration in drilling that could bring on a surfeit of new supply to the market.

SINO MUD business trip to Jakarta Indonesia had successfully finished. Many local Indonesia mining and HDD company show much interest in our drilling fluids and are planning a trial order for their projecet.

The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, OPEC said on Monday. In its monthly report, the Organization of the Petroleum Exporting Countries said it expected world oil demand to […]

Opec oil supply in June has climbed to a three-year high due to record or near-record output from Iraq and Saudi Arabia, a Reuters survey found, underlining the focus of the group’s top exporters on market share.The boost from the Organization of the Petroleum Exporting Countries puts output further above its target of 30 million […]

Brazil’s state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years as new management moved to reduce the industry’s largest debt burden and restore confidence after a devastating corruption scandal.Petroleo Brasileiro, as the company is formally known, will invest $130.3 billion in the 2015-2019 period, the company said in […]

Stocks held onto big gains by the midway mark of the session, boosted by government action in China to stem recent massive market declines. The move was having a positive impact on China based, U.S.-listed stocks. Chinese search engine Baidu (BIDU), casino operator Melco Crown Entertainment (MPEL), and the largest of China-based stocks, Alibaba (BABA), […]

Oil production from shales and other low-permeability formations would be declining by now and that oil prices consequently would be set to rebound. He was only half-right. Production of so-called tight oil has begun to decline. But the oil price, after having shown signs of life at midyear, has sagged back below $60/bbl. In projections […]

A move intended to reduce consumer burdens to boostconsumption. Hebei’s gas consumption fell sharply this year(-7%/-11%/-32% YoY in Feb/Mar/Apr). The new guidanceshowed a clear government intention to monitor transmissioncost more closely, cut the cost, and release the pent-up demandfor gas. The existing IRR cap of 8% has failed to work in thepast. The new requirements, […]

Our manager Mr Hanson Sun visit to Jakarta Indonesia for oilfield, mining, HDD drilling fluids business during July 1st to July 6th. Meet some clients in CBM,HDD,mining and talk the further cooperation.