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Oil and Gas Journal Drilling News

  1. US petroleum product demand averaged more than 20.2 million b/d in September, 2.4% more than a year earlier and the highest level for the month since 2007, the American Petroleum Institute reported.

  2. The US rig count during the week ended Oct. 20 declined for the ninth time in 12 weeks. Baker Hughes’ tally of active rigs fell 15 units this week to 913. 

  3. Thailand’s PTT Exploration & Production PCL (PTTEP) will delay its final investment decision on the 612-sq-km Mariana Oil Sands Project near Athabasca, Alta., according to a Reuters report. PTTEP also will record a $550-million impairment in its third-quarter earnings.

  4. In preparation of the 2022 startup of Husky Energy Inc.’s West White Rose project, Wood Group Canada Inc. has let a contract to MHWirth AS, a unit of Akastor ASA, for the delivery of a drilling package, including equipment, engineering, and services.

  5. Wood Mackenzie Ltd. analysts believe Libya’s oil production might have reached near-term limits with only gradual future growth. The possibility of longer-term political normalization and a reduction in the nation’s political conflicts depends on Libya maintaining oil production.