INTERNATIONAL RIG COUNT DOWN 200
Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for August 2016 was 937 down 1 from the 938 counted in July 2016, and down 200 from the 1,137 counted in August 2015. The international offshore rig count for August 2016 was 228, up 2 from the 226 counted in July 2016, and down 42 from the 270 counted in August 2015.
The average U.S. rig count for August 2016 was 481, up 32 from the 449 counted in July 2016, and down 402 from the 883 counted in August 2015. The average Canadian rig count for August 2016 was 129, up 35 from the 94 counted in July 2016, and down 77 from the 206 counted in August 2015.
The worldwide rig count for August 2016 was 1,547, up 66 from the 1,481 counted in July 2016, and down 679 from the 2,226 counted in August 2015.
August 2016 Rotary Rig Counts
|July 2016||August 2015|
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.