Industry at a glance
Vol. 225 No. 2 OPEC oil output in December ran 1.5 million bpd higher than the overall 2003 figure. According to IEA, only 640,000 bopd were added by Iraq, while another 310,000 bopd came from condensate gains in places
OPEC oil output in December ran 1.5 million bpd higher than the overall 2003 figure. According to IEA, only 640,000 bopd were added by Iraq, while another 310,000 bopd came from condensate gains in places like Qatar and Nigeria. The remainder of the OPEC gain versus the whole year came from widespread quota cheating. Furthermore, December world output was up 2.75 million bpd over the 2003 average thanks to strong gains in non-OPEC, non-OECD countries. Reflecting the always busy winter drilling season Canadian rigs remained above 400 active units, 20% higher than a year earlier. In the US, gas-inspired drilling finished the year 30% higher than the same month in 2002. Rigs outside North America were up 3% onshore and 15% offshore, signifying the shift of investment dollars offshore. |
- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)