Nigeria’s oil rigs rose to 11 in 2018

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Nigeria ended the year 2018 on a slightly positive note as its rig count witnessed an increase of plus two, having recorded a deployment of 11 rigs in December as against nine deployed in November, data from the Organisation of Petroleum Exporting Countries, OPEC showed.

The 14-member OPEC rig count also showed plus nine increase, having recorded 565 in December as against 556 recorded in November, while the world rig count showed minus 23 rig count, going by the 2,401 recorded in December as against 2,424, recorded the previous month. Among OPEC members, Kuwait and Ecuador were the ones that recorded minus in their rig count within the period under review.

While Kuwait had minus three, having recorded 41 in December, as against 44 in November, Ecuador had minus one, as it recorded 12 in December, as against 11 it recorded in November.

Algeria and Saudi Arabia led the positive side. While Saudi had plus four, as it had deployment of 125 rigs in December, as against 121 in November, Algeria had a deployment of 50 in December, as against 46 deployed the previous month, data from OPEC showed.

The politically turmoil country of Venezuela had a plus two deployment as Nigeria.

Its December rig count showed 27, as against 25 recorded in November, while Iraq had a plus one deployment, having recorded 62 in December, as against 61 recorded the previous month.

Seven other OPEC members, Angola, Congo, Equatorial Guinea, Gabon, Iran, Libya and United Arab Emirate (UAE), had their rig counts unchanged within the period under review.

They recorded 5, 4, 1, 4, 157, 9 and 57, respectively. Non-OPEC rig count witnessed minus 32, having shown a deployment of 1,836 in December as against 1,868 deployed in November.

The United States of America recorded an increase of one. It’s December deployment showed 1,078, while 1,077 rigs were deployed the previous month.

It’s Northern neighbour, Canada, however, recorded minus 58, having shown a rig count of 141 in December as against 199 recorded the previous month.

Mexico, another American country, had no change in its rig count within the period under review, as its figure remained at 31.

The Organisation for Economic Co-operation and Development, OECD, Americas had minus 57 rig count following its December rig deployment of 1,250, as against 1,307 deployed in November.

However, OECD Europe had an increase of 12, having recorded 95 in December as against 83 recorded the previous month, while OECD Asia Pacific had an increase of 2, as its December rig deployment showed 24 as against 22 recorded the previous month.

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