Deputy Minister of Petroleum and Managing Director of National Iranian Gas Company (NIGC) Hamid-Reza Araqi says Iran is not rival to Russia in European gas market.

USA oil production down 30 tbd, gas production down 178 mcfd.

USA Rig Count is down 248 rigs from last year's count of 787, with oil rigs down 163, gas rigs down 87, and miscellaneous rigs up 2. Canadian Rig Count is down 16 rigs from last year's count of 181, with oil rigs up 14, and gas rigs down 30.

The three facilities have the combined capacity to supply 25mn mt/yr of LNG –equal to about 8% of the world’s production, Bechtel said October 11.

API announced today that estimated oil wells drilled and completed in the third quarter of 2016 remained relatively unchanged from the previous quarter at 2,285. That is a decline of 3.7%, which follows an average of 17.3% in quarterly declines for the past year and a half.

In 2015, Russian gas exports to Austria rose 11.5 per cent versus 2014. From January 1 through October 10, 2016, Russian gas supplies to Austria totaled 4.18 billion cubic meters, which was 23.8 per cent higher than in the same period of 2015.

The warming relations between NATO member Turkey and Russia comes as both countries are dealing with troubled economies and strained ties with the West.

The worldwide rig count for September 2016 was 1,584, up 37 from the 1,547 counted in August 2016, and down 587 from the 2,171 counted in September 2015.

Baker Hughes Inc., the services company that tracks drilling activity worldwide, said just 27 rigs operated last month in the North Sea, the lowest number since records started in January 1982. The previous low was set in October 1999, when oil prices plunged to $10 a barrel.

U.S. Rig Count is down 271 rigs from last year's count of 795, with oil rigs down 177, gas rigs down 95, and miscellaneous rigs up 1. Canadian Rig Count is down 15 rigs from last year's count of 180, with oil rigs up 13, and gas rigs down 28.