Drilling For Oil And Gas Rises Outside North America

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Hira Shahnawaz Akhtar
Published on
Updated on

Total global drilling for oil and gas (as measured by the rig count released by Baker Hughes) is said to have risen by 0.17 percent MoM (6 rigs) to 3,437 rigs. However, the activity is 0.6 percent below previous year levels. This increase was primarily led by increased activity outside North America, where the number of rigs engaged in drilling for oil and gas are rising at a fast paced rate. While activity in North America declined, other areas including South America and Africa pulled up the world total. This is helping international oil companies to compensate for the decline…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.