US Oil, Gas Rig Count Falls for Second Straight Week: Baker Hughes

26 Aug 2024 CW Team

According to Baker Hughes, US drillers have cut the number of oil and gas rigs for the second consecutive week. This decline reflects ongoing market adjustments in response to fluctuating demand and pricing pressures. The number of active rigs, a key indicator of drilling activity and future production, has seen a steady decline as companies reassess their operations amidst challenging economic conditions.

The oil rig count, which serves as a barometer for future output, fell by five to 520 rigs in the last week. Gas rigs also experienced a slight decrease, dropping by two to 113 rigs. The total rig count now stands at 632, a marked reduction from the previous year's count, which peaked at over 700.

The reduction in rig activity is attributed to lower crude oil prices, which have remained volatile due to uncertainties in global supply and demand. Additionally, the US energy sector is facing increased pressure to transition toward more sustainable energy sources, prompting some companies to scale back traditional oil and gas operations.

Despite the current downturn in drilling activity, analysts predict that the long-term outlook for US energy production remains robust. However, the pace of rig deployments is expected to be influenced by both market dynamics and evolving energy policies aimed at reducing carbon emissions and promoting cleaner energy alternatives.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..