PLATTS - India ended the first quarter of 2018 with robust oil products demand growth of 8.5%, the fastest quarterly growth since Q3 2016, as a renewed push on infrastructure projects and surging auto sales lifted gasoline and gasoil consumption.
BHGE - Baker Hughes, a GE company Announces First Quarter 2018 Results Revenue of $5.4 billion for the quarter, down 7% sequentially and up 1% year-over-year on a combined business basis GAAP operating loss of $41 million for the quarter, decreased 63% sequentially and increased unfavorably year-over-year on a combined business basis Adjusted operating income (a non-GAAP measure) of $228 million for the quarter, down 20% sequentially and down 19% year-over-year on a combined business basis
BAKER HUGHES A GE - U.S. Rig Count is up 5 rigs from last week to 1,013, with oil rigs up 5 to 820, gas rigs unchanged at 192, and miscellaneous rigs unchanged at 1. Canada Rig Count is down 9 rigs from last week to 93, with oil rigs down 3 to 38 and gas rigs down 6 to 55.
API - natural gas and oil drilling and completions rose more than 35 percent over 2017 levels signaling the strength of the U.S. natural gas and oil industry. In addition, the success rate for exploration of natural gas and oil was more than 60 percent, the highest rate since 2009.
NPD - Preliminary production figures for March 2018 show an average daily production of 1 901 000 barrels of oil, NGL and condensate, which is a decrease of 46 000 barrels per day compared to February.
REUTERS - Offshore oil driller Seadrill (SDRL.OL) plans to emerge from Chapter 11 bankruptcy in late June or early July to catch the rising wave of rig market activity, its chief executive told said on Wednesday.
PLATTS - "Our collaboration will be a win-win for all," Pradhan told reporters. Pradhan said India offers attractive oil and gas markets for the US as the country is the fastest-growing large economy, with 8% annual growth in energy consumption.
EIA - Crude oil production from the major US onshore regions is forecast to increase 125,000 b/d month-over-month in May from 6,871 to 6,996 thousand barrels/day , gas production to increase 1,078 million cubic feet/day from 65,829 to 66,907 million cubic feet/day .
AOG - Kuwait plans to invest $113bn over the next five years to enhance oil exploration and production activities both inside and outside the country
BAKER HUGHES A GE - U.S. Rig Count is up 5 rigs from last week to 1,008, with oil rigs up 7 to 815, gas rigs down 2 to 192, and miscellaneous rigs unchanged at 1. Canada Rig Count is down 9 rigs from last week to 102, with oil rigs down 7 to 41 and gas rigs down 2 to 61.