U.S. Rig Count is up 1 rig from last week to 791, Canada Rig Count is down 11 rigs from last week to 244

The delegation of a dozen people representing the US industry and government was in India on 10-14 February to explore opportunities.

While Gazprom has said it’s looking at options to complete the pipeline, it hasn’t given any details on where it will find the ship to do the work. One of the pipeline’s financial backers, Austrian gas and oil company OMV AG, has predicted that the Russians will follow through.

Crude oil production from the major US onshore regions is forecast to increase 18,000 b/d month-over-month in February from 9,157 to 9,175 thousand barrels/day, gas production to decrease 172 million cubic feet/day from 85,619 to 85,447 million cubic feet/day .

The US on Tuesday imposed sanctions on Rosneft Trading SA, the Geneva-based subsidiary of the Russian state oil company, for supporting Venezuela's oil sector by continuing to trade with sanctions-hit PDVSA

The sanctions announced by the U.S. Treasury Department against Rosneft’s subsidiary RTSA and its Chairman are illegal, unjustified, and an act of legal abuse.

This winter, U.S. natural gas prices have been at their lowest levels in decades.

U.S. Industrial production declined 0.3 percent in January, as unseasonably warm weather held down the output of utilities and as a major manufacturer significantly slowed production of civilian aircraft.

U.S. Rig Count is unchanged from last week at 790, Canada Rig Count is down 2 rigs from last week to 255,

EQT Corp, the largest U.S. gas producer, recently said it would take a write-down of as much as $1.8 billion, following CNX Resources Corp, Royal Dutch Shell Plc and Chevron Corp in reducing the value of gas properties.