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Eni becomes first oil major to cut dividend after price drop

2015-03-14 12:34:53| Oil & Gas - Topix.net

Eni SpA became the first major oil company to announce a dividend cut as the Italian group prepares for a period of lower oil prices. The Milan-based company said it was targeting a dividend of 80 euro cents per share, down from a 1.12 in 2014 and the first cut in investors' payout since 2009.

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Oil, gas companies cut spending in Weld County's drilling fields

2015-02-22 10:20:41| Oil & Gas - Topix.net

Companies outlaying their 2015 spending programs on drilling and exploration show steep declines over last year. Spending in Weld County has been slowing down , while companies cut costs and redirect cash, in some cases, to offshore drilling programs.

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Oil exploration in Norway's Arctic cut by half after crude crash

2015-02-18 03:14:46| Appliances - Topix.net

Oil exploration in Norway's Arctic waters will be cut by half this year as state-controlled Statoil ASA halted drilling in the Barents Sea after crude prices plunged. Companies led by Sweden's Lundin Petroleum AB plan to drill at most seven exploration wells in the Barents Sea, down from a record 13 in 2014, said the Norwegian Petroleum Directorate.

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Oil toll: Halliburton to cut up to 6,400 jobs

2015-02-10 21:34:14| Oil & Gas - Topix.net

The Houston oil and gas services company said Tuesday it plans to cut between 5,200 to 6,400 jobs as oil and gas production slows down. The cuts translate to between 6.5% and 8% of the company's 80,000 global workforce.

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