SCHLUMBERGER PLANS FOR COST CUTS; RECORDS SECOND QUARTER LOSS

Highlights –

• Schlumberger plans for cost cuts; records second-quarter loss.
• The U.S oilfield service providers recorded a $3.7 billion charge.
• The company reported a net loss of $3.43 billion.
• The company’s stock was...

ASSAM: ANOTHER EXPLOSION TAKES PLACE AT BAGHJAN OIL WELL IN TINSUKIA DISTRICT

According to the sources, a massive explosion occurred near the well number five owned by Oil India Limited (OIL) at Baghjan oil field in Tinsukia district of Assam that left three foreign experts injured. All the injured foreign experts have been immediately taken to a hospital. 
Thi...

Brand new oil field discovered by NIOC

According to Tasnim news agency, Saleh Hendi stated “We expect the discovery of a new oil field to become certain by the yearend and we would be able to deliver the good news to people,”

The potential area, which boasts similarities with the Namavaran reservoir, could be loc...