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Market Spotlight: Halliburton to buy its rival

November 24, 2014 (5:35)

Halliburton’s plans to buy rival Baker Hughes are causing a stir in the oil services industry. The $35 billion deal is seen as a bid by Halliburton to cut costs and compete better against Schlumberger, the leader in the field. Scott Sprinzen, an analyst with Standard & Poor’s Ratings Services, explains.


News Headlines

FEATURE: Offshore operators push for changes to US bonding rules
Washington (Platts)--26 Nov 2014 100 pm EST/1800 GMT
The National Ocean Industries Association, a key offshore drilling group, calls it overkill.
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The Barrel Blog

November 26, 2014
If you are a state-run gas company in a Baltic state–once part of the Soviet Union, and tied to the former empire by gas pipelines–you might grab with both hands the chance to buy gas from someone who is not associated with the Kremlin.
November 25, 2014
Japan's recent deal with Abu Dhabi to lease out more crude storage capacity to the emirate under a renewal agreement is deemed mutually beneficial.
November 24, 2014
Japanese government regulation of Japan’s oil refining industry is detailed and proscriptive. Takeo Kumagai reviews the most recent round of new rules and how it will affect the business.
November 21, 2014
To feature reader comments about oil today, we want to draw attention to the comments on our post about comments, which is very meta.
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Price Focus

The Light Houston Sweet differential strengthened week on week due to West Texas Intermediate in Midland, Texas, being supported by higher demand with Plains All-American Pipeline’s Sunrise crude pipeline set to startup in December, sources said. LHS was assessed Nov 20 at $2.65 below the Light Louisiana Sweet differential at WTI plus $1/b or $76.53/b. On November 13, LHS was assessed at $74.75/b, or WTI plus 50 cents/b.

OPEC Guide

November 17, 2014
High-level OPEC diplomacy is under way as pressure builds on the oil producer group to stem the sharp decline in oil prices that the IEA has warned could continue into H1 2015.
Also in this feature
No need for panic over oil price plunge, OPEC chief says
OPEC secretary general Abdalla el-Badri calls for calm.
OPEC production estimates
Monthly estimates of OPEC production based on a survey of OPEC and oil industry officials

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Oil Infographics

It could be argued that the history of oil is the history of the modern world. And Platts, a leading provider of analysis, news and prices for the industry, has played a significant role in this amazing story.Of all the natural resources that have been used to build our world, surely oil is the most pervasive. We all know that oil provides the plastics in the computer we use, has driven revolutions in fashion, industry and transport, and even powers our homes. No one’s life is untouched by this immense resource.


Podcasts

Russian oil exports tumble ahead of 2015 tax changes
November 26, 2014 - Platts editors discuss the upcoming changes to the Russian oil export tax scheme and their effect on both crude and product exports, the spot market and other effects.
EPA dodges an RFS decision, leaving oil, biofuel industries hanging
November 24, 2014 - How the decision to punt the 2014 Renewable Fuel Standard into next year was a lot like Reebok's Dan vs. Dave campaign ahead of the 1992 Olympics.
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Crude Oil MethodologyPublished July 2014

The Crude Oil Guide contains the primary specifications and methodologies for Platts crude oil cargo and pipeline assessments throughout the world.






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