Upstream
![Upstream](/cache/2017/02/usa-326.87ea9956.jpg)
2017, February, 14, 19:00:00
U.S. OIL GAS PRODUCTION UP AGAIN
U.S. oil production will up 80 tbd, gas production will up 524 mcfd.
![Upstream](/cache/2017/02/USA-318.97d22942.jpg)
2017, February, 11, 19:00:00
U.S. RIGS UP 12
U.S. Rig Count is up 200 rigs from last year's count of 541, with oil rigs up 152, gas rigs up 47, and miscellaneous rigs up 1.
Canadian Rig Count is up 130 rigs from last year's count of 222, with oil rigs up 89 and gas rigs up 41.
![Upstream](/cache/OIL-481.3183e473.jpg)
2017, February, 10, 18:55:00
GLOBAL OIL PRODUCTION DOWN
Oil supplies fell by around 1.5 million barrels per day last month, including by 1 million bpd for OPEC, leading to record initial compliance of 90 percent with a six-month output-cut deal reached in December by big producers to boost prices.
![Upstream](/cache/2017/02/INDONESIA-24.cc4e552d.jpg)
2017, February, 10, 18:30:00
INDONESIA NEEDS $80 BLN INVESTMENTS
Indonesia needs to invest $70 billion to $80 billion in gas infrastructure through 2030 to avoid a potential gas shortage, as domestic consumption growth outpaces supply, state-owned energy business Pertamina said Tuesday.
![Upstream](/cache/2017/02/VARCO-13.27286d48.jpg)
2017, February, 7, 18:35:00
NOV VARCO NET LOSS $714 MLN
National Oilwell Varco, Inc. (NYSE: NOV) reported a fourth quarter 2016 net loss of $714 million, or $1.90 per share. Excluding other items, net loss for the quarter was $57 million, or $0.15 per share. Other items totaled $706 million, pretax, and were primarily associated with inventory charges, facility closures, and severance.
![Upstream](/cache/2017/02/RIG-16.1a6420cf.jpg)
2017, February, 7, 18:30:00
WORLDWIDE RIG COUNT UP 27
The worldwide rig count for January 2017 was 1,918, up 146 from the 1,772 counted in December 2016, and up 27 from the 1,891 counted in January 2016.
![Upstream](/cache/2017/02/USA-446.02a5dd1e.jpg)
2017, February, 6, 18:30:00
U.S. RIGS UP 17
U.S. Rig Count is up 158 rigs from last year's count of 571, with oil rigs up 116, gas rigs up 41, and miscellaneous rigs up 1.
Canadian Rig Count is up 101 rigs from last year's count of 242, with oil rigs up 66 and gas rigs up 35.
![Upstream](/cache/2017/02/WEATHERFORD-8.d56b9294.jpg)
2017, February, 3, 18:40:00
WEATHERFORD & NABORS ALLIANCE
Weatherford International plc (NYSE: WFT) and Nabors Industries Ltd. (NYSE: NBR) announced today they have signed a non-binding Memorandum of Understanding (MOU) to form an alliance focused on delivering enhanced drilling solutions to the oil and gas land market in the lower 48 states of the United States.
![Upstream](/cache/2017/01/OPEC-48.b94ac6e0.jpg)
2017, February, 2, 18:45:00
OPEC, RUSSIA CUTS
Therefore, OPEC has raised its supply to Asia, and Russia has also re-routed a great chunk of its rising production toward China and the Asia-Pacific over the past decade. Russia surpassed Saudi Arabia as China's biggest supplier last year, exporting 1.05 million bpd of crude versus Saudi Arabia's 1.02 million.
![Upstream](/cache/2017/01/PRICE-596.2e55df4f.jpg)
2017, February, 2, 18:35:00
GLOBAL OIL&GAS DEALS
Global oil and gas deal activity in 2016 recovered from a slow start to the year with help from the announcements of midstream and oilfield services (OFS) megadeals. Deal value increased in 2016 to US$395 billion from US$340 billion in 2015, while deal volume fell by 27% year-on-year.
![Upstream](/cache/2017/01/SHELL-38.9d62511b.jpg)
2017, January, 31, 18:40:00
SHELL SELLS $3.8 BLN
Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to $3.8bn, including an initial consideration of $3.0bn and a payment of up to $600m between 2018-2021 subject to commodity price, with potential further payments of up to $180m for future discoveries.
![Upstream](/cache/2017/01/SHELL-39.0e90a939.jpg)
2017, January, 31, 18:35:00
SHELL SELLS THAILAND
Shell has reached an agreement with KUFPEC Thailand Holdings Pte Limited, a subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC), for the sale of subsidiary companies Shell Integrated Gas Thailand Pte Limited and Thai Energy Co Limited, which together hold a 22.222% equity stake held in the Bongkot field, and adjoining acreage offshore Thailand consisting of Blocks 15, 16 and 17 and block G12/48, for USD 900 million.
![Upstream](/cache/2017/01/USA-443.b0547238.jpg)
2017, January, 30, 19:05:00
U.S. SHALE SHARE
Igor Yusufov, Russia’s energy minister from 2001 to 2004, said U.S. shale producers wouldn’t attempt to enter core OPEC and Russia markets where prices are too low for them to compete. “The fact is that shale oil and gas are doing well in markets that start from a certain price,” he said in an email exchange with The Wall Street Journal.
![Upstream](/cache/2017/01/CANADA-33.4115476f.jpg)
2017, January, 30, 18:30:00
U.S. RIGS UP 18
U.S. Rig Count is up 93 rigs from last year's count of 619, with oil rigs up 68, gas rigs up 24, and miscellaneous rigs up 1.
Canadian Rig Count is up 114 rigs from last year's count of 231, with oil rigs up 74 and gas rigs up 40.
![Upstream](/cache/2017/01/baker-11.4da1e9af.jpg)
2017, January, 26, 18:35:00
BAKER HUGHES NET LOSS $2.7 BLN
In the second half of 2016, we reduced annualized costs by nearly $700 million, exceeding our initial goal by almost 40%, paid down $1 billion in debt, repurchased more than $750 million in shares, accelerated innovation with nearly 70 new product introductions, and built new sales channels for our products and technology.