Industry

Global oil and gas spending to reach US$1.23 trillion in 2012

oil-well-sourcedTotal global spending on the upstream oil and gas industry will reach US$1.23 trillion in 2012 and is expected to rise to $1.64 trillion in 2016, with the Middle East region playing a key role in terms of total spending, according to energy consultant IHS

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Record profits for Sharjah gas group

Kurdistan_Dana_Gas_operationsSharjah–based gas company Dana Gas has posted a record gross profit of AED 1.33 billion (US$362 million) for the year ended December 31, 2011

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Weatherford Q1 profit soars

Weatherford_Q1Weatherford International has reported that first quarter profit for 2012 more than tripled compared to the same period in 2011 to hit US$190 million

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Baker Hughes remains upbeat despite Q1 profit fall

Baker_Hughes_2Baker Hughes' first quarter profit for 2012 has fallen to US$379 million from $381mn for the same period in 2011

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Schlumberger posts strong first quarter growth

Schlumberger_oilfield_1

Oilfield services company Schlumberger has reported a 38 per cent increase in its first quarter profits from US$944 million for Q1 2011 to $1.3 billion for the same period in 2012

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