Nigeria's Rig Count Remains Unchanged, As OPEC Appreciates By Two

(file photo).
6 August 2019

For three months running, Nigeria's rig count remained unchanged at 14 for the month of June, the same number it recorded in May and April, while the Organisation of Petroleum Exporting Countries (OPEC), appreciated by two, having recorded 576 in June, as against 574 recorded in May.

World rig count appreciated by 39, in the month of June, as it recorded 2,378, against 2,339 recorded the previous month. Out of the 14 - member OPEC, four, Ecuador, Saudi Arabia, United Arab Emirates and Venezuela had additional 10.

Ecuador had an impressive plus, as its rig count for June stood at 10, as against six it experienced in May.

This was followed by Saudi Arabia, which had plus three, having recorded 114 in June, as against 111 recorded the previous month.

UAE had plus one, as its count stood at 61, as against 60 recorded the previous month, while Venezuela had plus two having recorded 24 in June as against 22 in May.

Algeria led the loser's pack, as it recorded 45 in June against 51 recorded the previous month.

It was followed by Iraq, which had 77 in June, as against 75, recorded the previous month.

The remaining seven OPEC members had their rig count unchanged within the period under review.

Angola, Congo, Equatorial Guinea had five, four, one, respectively, while Gabon, Iran, Kuwait and Libya had six, 157, 45 and 15respectively.

Other African countries had their rig count unchanged, at 51, which was the same number recorded the previous month.

OECD Europe had plus 7rig count, having recorded 193, as against 186 recorded within the period under review.


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