Industry at a glance
In its Short Term Energy Outlook, the US-based EIA predicted that global oil demand will increase by 2.9 million bpd
In its Short Term Energy Outlook, the US-based EIA predicted that global oil demand will increase by 2.9 million bpd from the second to fourth quarter of 2007 (a typical pattern for that time of year). In response to criticism for not increasing production amidst this demand increase, OPEC ministers pointed to refining bottlenecks and geopolitical tensions as the cause for high prices, rather than oil shortages. The Centre for Global Energy Studies retorted that this was merely an “excuse for inaction.” IEA projects that Africa will be a key driver of non-OPEC growth in 2008, with regional supply increasing 130,000 bopd to 2.71 million bopd. The FSU and Latin America are also expected to be significant sources of growth. The June international rotary rig count continued creeping back up
following its low in April, largely due to the climb in Canada, which
increased by 103 rigs, or 96%. |
- 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)
