October 08, 2024 Latest Crude Oil, Gas Price, Energy News
London, (Oilandgaspress) ––U.S. power producers generated a total of 55.6 million megawatt hours (MWh) from gas-fired power plants between January and September, according to data from London Stock Exchange (LSEG).
Batur Convertible – has begun its final suite of sign-off testing. Created by Mulliner, Bentley’s in house bespoke division and the longest standing coachbuilder in the world, the Batur Convertible is the third car in Mulliner’s Coachbuilt family, following the Bacalar barchetta and the Batur coupe. Strictly limited to just 16 units, the Batur Convertible is the most powerful W12-powered drop-top Grand Tourer in Bentley’s history. More than 120 individual tests in all cover everything from the quality of the surface finish of the gold “organ stop” ventilation controls to the new W12 engine hardware and software. Over 58 weeks of vehicle validation have been scheduled across a pair of pre-series cars – Batur Convertible Car Zero and the Batur Convertible Engineering Car.
The real-world testing campaign started with an extensive 3,000 kilometre , five-country drive across Europe to simulate real world conditions. The Batur Convertible retains the most powerful version of Bentley’s iconic W12, with a 750 PS, hand-assembled 6.0-litre twin-turbocharged engine that has metaphorically and literally powered Bentley’s success for the last two decades. The Batur Convertible will be the last ever Bentley to use this incredible powertrain. Read More
Baker Hughes announced its largest order ever of Integrated Compressor Line (ICL) units with Dubai Petroleum Establishment (DPE), for and on behalf of Dubai Supply Authority (DUSUP), to enhance the reliability of energy supply and support local decarbonization efforts. The order was booked in the third quarter of 2024.
The 10 ICL units – five for gas storage and five for dual-use injection boosting or gas export to the existing gas distribution system – will be installed at the Margham Gas storage facility in Dubai, significantly increasing its capacity. Through the adoption of the ICL technology, the project aims to achieve a high-reliability system with reduced emissions. The project will provide stability to Dubai’s energy supply by strengthening the system’s ability to switch between natural gas and solar power.
“Our innovative ICL technology is set to be critical to support the gas infrastructure needed to address Dubai’s increasing expansion of renewables into its energy mix,” said Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes. “This landmark order underscores the proven track record we have built in the market for our low-carbon solutions, and we are grateful to DPE for their continued commitment and trust as they deliver sustainable energy development.”
With already three ICL units successfully in operation since 2020, DPE’s decision to continue working with Baker Hughes is a testament to the performance and reliability of the installed technology. With zero seal leakages and minimal downtime required for maintenance, Baker Hughes’ ICL technology continues to solidify its position as a highly sought-after option in the market. The latest award from DPE continues the positive order momentum for this technology and follows awards for different applications in projects across Italy, Germany, Argentina and the United States. Read More
ADNOC Logistics and Services plc announced that its Board of Directors approved the distribution of a cash dividend of $136.5 million (AED501.3 million) for the first half (H1) of 2024, equivalent to 6.78 fils per share. The Company intends to distribute a total dividend amount of $273 million (AED1,002.6 million) for the full year, a 5% increase on the 2023 annualized dividend, in line with its approved dividend policy.
The H1, 2024 dividend will be paid to shareholders who own ADNOC L&S shares on the record date of 17 October 2024.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: “We are pleased to announce the H1, 2024 cash dividend, reflecting our strong cash position and balance sheet. We remain committed to shareholder returns through value-accretive growth and the distribution of dividends. ADNOC L&S continues to make significant progress in its transformational growth strategy through strategic investments, while remaining focused on delivering value to our shareholders and stakeholders.”
The dividend is in line with the previously announced Board-approved dividend policy, which sets a progressive annual dividend increase per share of at least 5% per annum over the medium term, using the 2023 annualized dividend ($260 million / AED955 million) as the baseline. The Company intends to pay dividends on a semi-annual basis, with an initial payment for its first-half results paid out in the fourth quarter of that year, and a second payment following its second-half results paid out in the second quarter of the following calendar year. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $75.59 | Down |
| Crude Oil (Brent) | USD/bbl | $79.30 | Down |
| Bonny Light 04/10/24 , CBN | USD/bbl | $80.71 | Up |
| Dubai | USD/bbl | $76.77 | — |
| Natural Gas | USD/MMBtu | $2.76 | Up |
| Murban Crude | USD/bbl | $79.29 | Down |
| OPEC basket 07/10/24 | USD/bbl | $78.50 | Up |
Baker Hughes Rig Count: U.S. -2 to 585 Canada +5 to 223
U.S. Rig Count is down 2 from last week to 585 with oil rigs down 5 to 479, gas rigs up 3 to 102 and miscellaneous rigs unchanged at 4.
Canada Rig Count is up 5 from last week to 223, with oil rigs up 5 to 157, gas rigs down 2 to 63 and miscellaneous rigs up 2 to 3.
International Rig Count is up 16 rigs from last month to 947 with land rigs up 15 to 735, offshore rigs up 1 to 212.
The Worldwide Rig Count for September was 1,751, up 15 from the 1,735 counted in August 2024, and down 8, from the 1,759 counted in September 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 04 October 2024 | 585 | -2 |
| Canada | 04 October 2024 | 223 | +5 |
| International | September 2024 | 947. | +16 |
History of the Bugatti brand
On the 8th and 9th November 2024, a panel of experts, including former Bugatti Director of Design Achim Anscheidt, will delve into their experiences and knowledge of Bugatti’s historical development and quintessentially authentic design evolution.
Together, these experts will explore a diverse array of Bugatti topics, such as the impact of Ettore Bugatti’s famous mantra, “If it is comparable, it is no longer Bugatti”, both historically and in the modern era. The panel will discuss insights into the history of the Bugatti family, including the work of its artistic members, the future impact of AI on car design and how it can integrate with Bugatti’s traditional engineering values, and the story of Bugatti’s 120-year journey.
The seminar will draw upon contemporary photos, original correspondence and authentic design drawings to bring the spirit of the legendary factory in Molsheim to life. Charting the tragic background to the brand’s tribulations after the Second World War, the significance of the Schlumpf brothers and their Bugatti collection and the brand’s rebirth under Romano Artioli in Campogalliano, right up to the construction of the impressive W16 engine and the beginning of the modern Bugatti era under Ferdinand Karl Piëch. Read More
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
Please email us your industry related news for publication info@OilAndGasPress.com
Follow us: on Twitter | Instagram
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,
