Energy Update
(Adds rate of rig increase, comparisons to year ago)
Dec 23 (Reuters) - U.S. energy companies added oil rigs for
an eighth week in a row, extending a seven-month drilling
recovery as crude prices remained near a 17-month high.
Drillers added 13 oil rigs in the week to Dec. 23, bringing
the total count up to 523, the most since December 2015, but
still below the 538 rigs seen a year ago, energy services firm
CALGARY, Alberta, Dec 23 (Reuters) - Canada's oil sands
prospects were buoyed by recent pipeline approvals, but news of
two companies ditching local projects on the same day served as
a reminder that industry confidence is still weak.
Dec 23 (Reuters) - U.S. energy companies added oil rigs for
an eighth week in a row, extending a seven-month drilling
recovery as crude prices remained near a 17-month high.
Drillers added 13 oil rigs in the week to Dec. 23, bringing
the total count up to 523, the most since December 2015, but
still below the 538 rigs seen a year ago, energy services firm
Baker Hughes Inc said on Friday.
Dec 23 (Reuters) - Bonanza Creek Energy Inc and two
other energy firms announced on Friday plans to file for
bankruptcy in coming weeks, joining a long list of U.S. energy
companies that have succumbed to a drop in oil prices.
MOSCOW, Dec 23 (Reuters) - The Russian government is in
control of cash on the books of state holding company
Rosneftegaz and spending from those reserves is "absolutely
transparent", President Vladimir Putin said on Friday.
The Dubai Electricity and Water Authority (DEWA) on Dec. 20 said that it will build the Gulf Cooperating Council region’s first hydroelectric power station — a 250-MW pumped storage hydro plant that will be powered by solar PV.
OTTAWA, Dec 23 (Reuters) - Canada's economy unexpectedly
contracted at the start of the fourth quarter due to widespread
weakness in the manufacturing sector and a decline in oil and
gas extraction, data from Statistics Canada showed on Friday.
WASHINGTON, Dec 23 (Reuters) - U.S. President-elect Donald
Trump, asked to clarify his comments about expanding U.S.
nuclear weapons capability, said, "Let it be an arms race," and
that the United States would win it, MSNBC reported on Friday.
The Caribbean Development Bank last week said that it has formally confirmed ots ongoing partnership with the Government of New Zealand in support of geothermal energy development in the Eastern Caribbean.
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