-- US drilling push continues as Canada idles rigs Exploration companies in the US put 10 more rigs to work this week9 on land and 1 offshorecompared with last week. The 1,160 rigs drilling are up from 972 in the same period last year. The majority (1,000) are drilling gas wells. Meanwhile, Canada idled 126 rigs.
-- African reforms The US should be working harder to promote transparency and accountability in African oil-producing countries, according to a new report by the nonpartisan Center for Strategic & International Studies, Washington, DC.
-- US rig count hits highest peak since September 2001 US drilling activity increased by 12 units to 1,150 rotary rigs working, the highest weekly total since the week ended Sept. 28, 2001, when the count was at 1,168 and falling, officials said Friday at Baker Hughes Inc.
-- Total group announces production on Venezuelan gas blocks A consortium headed by Total SA has begun producing nonassociated gas on the Yucal Placer Norte and Yucal Placer Sur blocks, which cover 900 sq km in the Guarico sub-basin of western Venezuela, said partner Repsol YPF SA.
-- Iran's Kaboud oil field goes on stream Masjed Soleiman Oil and Gas Production Co. announced that Kaboud oil field in Iran has gone on stream, OPECNA reported. Initial production rates were not disclosed.
-- BP Trinidad & Tobago awards contract for offshore platform BP Trinidad & Tobago LLC awarded Fluor Corp. additional contract work worth about $20 million toward the engineering and construction of BP's new offshore gas processing platform and other facilities in Trinidad and Tobago.
-- US drilling activity continues near 31-month high US drilling activity continued to seesaw at a 31-month high level, down by 8 rotary rigs to 1,153 working this week, compared with 1,021 during the same period a year ago, Baker Hughes Inc. reported Friday.
-- Gas price risk mainly upside The fundamental drivers of US natural gas prices are pointing increasingly to sustained higher levels in the near term as well as the long term.
-- S&P: Offshore drilling's poor ROCE in past decade turning around Although return on capital employed (ROCE) has been poor during the last decade for the eight largest offshore drilling companies, that situation is turning around now, said oilfield services and drilling equity analyst John Kartsonas, in a newly released report by Standard & Poor's Equity Research Services.
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