London, November 01, 2024, (Oilandgaspress) – U.S. Rig Count is unchanged from last week at 585 with oil rigs down 1 to 479, gas rigs up 1 to 102 and miscellaneous rigs unchanged at 4.
Canada Rig Count is down 3 from last week to 213, with oil rigs down 4 to 146, gas rigs up 1 to 67 and miscellaneous rigs unchanged at 0.
International Rig Count is up 3 rigs from last month to 950 with land rigs down 9 to 726, offshore rigs up 12 to 224.
The U.S. Offshore Rig Count is unchanged at 16, down 5 year-over-year.
The Worldwide Rig Count for October was 1,754, up 4 from the 1,751 counted in September 2024, and down 22, from the 1,776 counted in October 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 01 November 2024 | 585 | — |
| Canada | 01 November 2024 | 213 | -3 |
| International | October 2024 | 950 | +3 |
(Reuters) – Oil prices extended gains on Friday, climbing more than $1 a barrel to pare weekly losses, after reports Iran was preparing a retaliatory strike on Israel from Iraq in the coming days. Brent crude futures were up $1.39, or 1.9%, at $74.20 a barrel by 0736 GMT. U.S. West Texas Intermediate crude rose $1.44, or 2.1%, to $70.70. Israeli intelligence suggested that Iran is preparing to attack Israel with a large number of drones and ballistic missiles from Iraqi territory in the coming days, possibly before the U.S. presidential election on Nov. 5, Axios reported on Thursday, citing two unidentified Israeli sources. Read More
The second Ministerial Meeting of the Economy and Investment Committee under the Saudi-India Strategic Partnership Council was held in Riyadh. The meeting was co-chaired by Saudi Minister of Energy Prince Abdulaziz bin Salman and India’s Minister of Commerce and Industry Piyush Goyal. During the meeting, Prince Abdulaziz and Goyal witnessed the signing of an agreement between the Saudi National Electricity Transmission Company and the Central Transmission Utility of India to study the feasibility of electrical interconnection between the two countries. The minutes of the Economy and Investment Committee of the Saudi-Indian Strategic Partnership Council was also signed on the occasion. Read More
ADNOC, Masdar and Microsoft have jointly published a new report titled “Powering Possible: AI and Energy for a Sustainable Future” exploring the transformative potential of artificial intelligence (AI) in driving the global energy sector towards a net zero future. The report highlights AI’s potential to optimize energy efficiency, manage complex energy systems, reduce greenhouse gas emissions, and innovate carbon-free energy solutions while addressing the growing energy demands of AI technology itself.
To create the report, the authors surveyed more than 400 experts across the fields of energy, technology and AI, academia and finance, including His Excellency Omar Al Alama, UAE Minister of State for Artificial Intelligence; Jensen Huang, CEO of NVIDIA; Larry Fink, CEO of BlackRock; Professor Anima Anadkumar of Caltech; and Patrick Pouyanné, CEO of TotalEnergies. The survey revealed that 92% of energy executives believe AI will have a significant impact on improving energy efficiency by 2030, and that by 2050, 97% expect AI to play a central role in developing new energy solutions. These findings emphasize AI’s potential to decarbonize traditional energy sources, drive efficiency gains and accelerate the energy transition.
The report has been published in advance of the ENACT Majlis, convened by H.E. Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, Chairman of Masdar, and ADNOC Managing Director and Group CEO. The ENACT Majlis is a CEO gathering of 60 world leaders in technology, energy and finance to seize the opportunities and find the solutions that embrace rapid and sustainable AI growth, to be held in Abu Dhabi on November 3. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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