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2017-01-11 18:40:00

U.S. DECLINE'S END

U.S. DECLINE'S END

API announced today that estimated total wells drilled and completed in the fourth quarter of 2016 decreased 8.8 percent compared to the third quarter of 2016. This decrease is a drastic improvement from the same time period in 2015 which saw a 21 percent decrease in total wells drilled and completed.

"Today's report shows evidence that the consistent decline in oil and natural gas drilling could be coming to an end," said Hazem Arafa, director of API's statistics department. "Even with the decline, our nation has established itself as the world leader in the production and refining of oil and natural gas and in the reduction of carbon emissions which are near 20-year lows. Moving forward, it's important to put in place policies that embrace America's leadership in energy that's providing benefits for American consumers, American workers and the environment."

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Earlier: 

WORLDWIDE RIG COUNT DOWN 197 

U.S. RIGS UP 7 

U.S. SHALE DRILLERS UP 

U.S. RIGS UP 16 

UPSTREAM'S EARNINGS UP

 

 

Tags: USA, OIL, GAS, DRILLING, API

Chronicle:

U.S. DECLINE'S END
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

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.

U.S. DECLINE'S END
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

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.

U.S. DECLINE'S END
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

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.

U.S. DECLINE'S END
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

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.

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