September 10, 2024 Latest Crude Oil, Gas Price and News
London, (Oilandgaspress) ––The mood in the oil market is increasingly bearish amid continued concerns about oil demand in China, which is below market expectations. Oil prices dropped to their lowest level so far this year.
The Akkuyu Nuclear Power Plant (NPP) is set to be operational in 2025. This significant development will provide vast amounts of energy to Turkey and help meet its demand while also meeting climate targets.
As the world’s largest nuclear construction site, the plant has four reactors which are under construction at the same time. This large scale project has over 30,000 workers involved and marks a major milestone for both Turkey and nuclear energy provision.. Read More
Motorists are continually fleeced in the UK. They are easy targets for revenue hungry local government agencies.
Local councils referred a staggering four million motorists issued with penalty charge notices (PCNs) to enforcement agencies in the last 12 months – a number that has more than doubled since before the pandemic.
The number of motorists referred to bailiffs is rising much faster than the number of PCNs issued, which totalled around 18 million last year. The Times reports it is due to motorists falling foul of a proliferation of clean air zones and road tolls, while cash-strapped local authorities are also ramping up enforcement action for unpaid parking tickets and other traffic penalties.
Bailiffs argued the increase is due to motorists becoming increasingly selfish and ignoring the rules of the road. Read full article
Colombian rebels have reopened their war on the oil industry with a wave of pipeline attacks that sent crude spilling into rivers and clouds of black smoke billowing into the sky. The world’s oldest guerrilla army, known as the ELN, is reactivating its six-decade campaign of sabotage after peace talks with the government broke down, raising the stakes for President Gustavo Petro by hitting the sector that produces a third of the nation’s exports. The leftist group also renewed hostilities with government security forces, opening fire on police bases and killing five soldiers in ambushes.
The violence — including at least 19 pipeline attacks since late August Read full article
Pearl Petroleum, a unit of UAE natural gas giant Dana Gas, has started arbitration proceedings against Enerflex, the EPC contractor of the Khor Mor 250 project in the Kurdistan region of Iraq. Following the termination of the contract on 9 September, Dana Gas said Pearl Petroleum initiated arbitration action “in accordance with the contract to recover costs and damages arising from Enerflex’s defective performance,” according to an ADX disclosure.
Dana Gas added it will update the market on the new expected completion date in due course as it works “to bring the project back on track.” On August 19, Pearl Petroleum issued a notice of termination to Enerflex, citing numerous “performance issues” which had arisen during the execution of the contract works. Read More
At least 48 people have been killed in Nigeria following a fuel tanker truck explosion, the state’s disaster management agency has reported on Monday, noting that the fuel transport collided with a truck carrying travelers and cattle in the country’s north-central region overnight. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $68.02 | Down |
| Crude Oil (Brent) | USD/bbl | $71.15 | Down |
| Bonny Light 05/09/24 | USD/bbl | $77.00 | Down |
| Dubai | USD/bbl | $72.08 | Down |
| Natural Gas | USD/MMBtu | $2.15 | Down |
| Murban Crude | USD/bbl | $71.60 | Down |
| OPEC basket 09/09/24 | USD/bbl | $72.23 | Down |
Baker Hughes Rig Count: U.S. -1 to 582 Canada +0 to 220
U.S. Rig Count is down 1 from last week to 582 with oil rigs unchanged at 483, gas rigs down 1 to 94 and miscellaneous rigs unchanged at 5.
Canada Rig Count is unchanged from last week to 220, with oil rigs down 1 at 152, gas rigs unchanged to 67.
The Worldwide Rig Count for August was 1,735, up 22 from the 1,713 counted in July 2024, and down 53, from the 1,788 counted in August 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 06 September 2024 | 582 | -1 |
| Canada | 06 September 2024 | 220 | — |
| International | August 2024 | 931. | -3 |
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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