September 03, 2024 Latest Crude oil, Gas Price and News
London, (Oilandgaspress) –– Brent and WTI price drops as sluggish economy in China and the continued impact of a blockade of oil production facilities in Libya affects market.
KBR announced today it has completed the acquisition of LinQuest Corporation, a leading provider of advanced engineering, data analytics and digital integration with a strong history of solving complex technical challenges for national security space missions. The acquisition strengthens KBR’s capabilities across space, air dominance and connected battlespace missions. LinQuest also has a heritage of serving important U.S. government customers including the U.S. Space Force, U.S. Air Force and other U.S. Department of Defense and intelligence agencies.
“LinQuest’s portfolio of capabilities significantly expands KBR’s ability to meet growing customer demands and continues KBR’s goal of transforming and enhancing key high-end digital solutions,” said Stuart Bradie, KBR President and Chief Executive Officer. “We have been continually impressed with their people-first culture and amazing expertise, so it’s a thrilling day to be able to officially welcome them to the KBR family.”
KBR will immediately begin integrating LinQuest into KBR’s Government Solutions segment and Defense and Intel business unit.
Given the closing date, LinQuest’s financial results are not expected to be material to KBR’s Q3 2024 financial results. Therefore, impacts of the acquisition to KBR’s full year guidance will be discussed on the Q3 earnings call.
KBR has decades of experience providing mission-critical solutions for customers across the national security and space domains including customers ranging from the Department of Defense, NASA and various intelligence agencies. Read More
Britain is set to get nine new offshore wind farms after the Government’s latest renewables auction. The nine new projects compare to none last year, and include what will be Europe’s largest and second largest wind farm projects – Hornsea 3 and Hornsea 4 off the Yorkshire coast. They are part of a new wave of green power projects including onshore wind and solar farms, which officials said will generate enough power for 11 million homes. Energy Secretary Ed Miliband said the auction had got the offshore industry “back on its feet”, adding that the projects are “essential to give energy security to families across the country”. The projects were announced as part of this year’s Contracts for Difference (CfD) auction, a process started in 2015 as the Government’s mechanism for making sure renewable energy schemes are built. The new projects will create about 9.6 gigawatts (GW) of renewable power, compared to 11GW in a similar auction in 2022. Read More
McDermott announces the safe and successful decommissioning of the Campbell platform and associated offshore infrastructure at the Varanus Island hub in Western Australia. Under a contract awarded to McDermott in January 2024 by Santos, the company provided engineering, procurement, removal, and transportation of the platform topsides, substructure, and associated items to an onshore facility for dismantling and disposal.
“The successful removal of the Campbell platform topsides and substructures leveraged our expertise in circular practices and subsea project execution across the energy value chain,” said Mahesh Swaminathan, McDermott’s Senior Vice President, Subsea and Floating Facilities, McDermott. “This demonstrates our commitment to support clients in tackling complex challenges with creative problem-solving solutions that enable offshore decommissioning efforts and circularity across Australia’s energy sector.” Central to the project’s success was the deployment of a custom-built lifting cradle. Designed and constructed at McDermott’s Batam fabrication yard, with engineering support from teams in Perth, Australia; Chennai, India; and Kuala Lumpur, Malaysia; the lifting cradle was specifically engineered to address the unique complexities of the platform’s upper substructure. Read More
Vestas wins 55 MW order in Germany
Vestas is proud to announce the following order as part of our Q3 order intake:
| Country | Region | Customer | Project name | MW | Turbine variant | Service agreement | Delivery & commissioning |
| Germany | Vestas Northern & Central Europe | BWP GT Betriebs GmbH & Co. KG | Gnutz-Ost Timmaspe | 55 | 6 x V162-6.2 MW 3 x V150-6.0 MW | 20-year AOM5000 service agreement | Delivery in Q3 2025, commissioning in H2 2025. |
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $72.47 | Down |
| Crude Oil (Brent) | USD/bbl | $75.85 | Down |
| Bonny Light 30/08/24 | USD/bbl | $84.28 | Down |
| Dubai | USD/bbl | $77.60 | Up |
| Natural Gas | USD/MMBtu | $2.19 | Up |
| Murban Crude | USD/bbl | $75.71 | Down |
| OPEC basket 02/09/24 | USD/bbl | $77.03 | Down |
Tata Passenger Electric Mobility (TPEM), the pioneer of India’s EV revolution and a subsidiary of Tata Motors, unveiled two EV-exclusive retail stores under the TATA.ev brand identity in Kochi, Kerala. These premium retail stores are centrally located in Edappally and Kalamassery, and will bring about a unique and upmarket purchase and ownership experience beyond traditional car sales to the discerning EV community.
As electric vehicle adoption grows in the country, consumer buying behavior is also undergoing maturity and evolution. An EV customer now expects the brand to offer a unique experience through the purchase journey, from the product to its ownership cycle. This ask from the consumer is addressed by a new consumer-facing brand identity that strengthens the commitment to a future of mobility powered by the values of community, technology, and sustainability. As the physical representation of these values, the TATA.ev stores recognize the very different expectations of EV buyers. The in-store experience has been designed to offer information, advice, and guidance in a friendly environment. From new retail roles to passionate individuals immersed in the essence of the brand, TATA.ev’s home of electric has been designed to be warm, welcoming, friendly, and fun. . Read More
Hyundai Motor Company announced it has won 17 Red Dot Award: Brand & Communications Design 2024 accolades, including three ‘Best of the Best’ and 14 ‘Winner’ awards across eight categories. The ‘Best of the Best’ honorees include ‘The Ad That Should Have Been’ print ad campaign, the ‘Autonomous Driving Technology by Hyundai IONIQ 5 Robotaxi’ advertising film, and the ‘Unveiling E-GMP’ brand experience exhibition.
‘The Ad That Should Have Been’ campaign celebrated the comeback of the Pony Coupe Concept, Hyundai Motor’s first concept car and a key part of the brand’s design heritage. The ad pays homage to the golden age of automotive advertising, incorporating vintage elements such as layout, logos and photo editing techniques. Source,
The new Opel Movano Electric can already be ordered as a battery-electric vehicle – now Opel is opening the next chapter for the large van. The new Opel Movano HYDROGEN will celebrate its world premiere at the IAA Transportation 2024 in Hanover. With the hydrogen fuel cell vehicle, Opel will show from September 16 to 22 how an innovative drive concept with fuel cell can be combined with performance without compromise in work and everyday use. The new Movano HYDROGEN drives locally emissions-free for up to around 500 kilometres without stopping to refuel (WLTP1), can be filled up in less than 5 minutes and offers the full flexibility and loading volume of all other Movano variants.
In addition, the new Opel Combo Electric and the battery-electric Opel Rocks Electricquadricycle with KARGO kit for delivery services and the likewill also be on display at the joint Stellantis Pro One stand C70 in Hall 13. The commercial vehicle trio will be presented at the leading trade fair for logistics, commercial vehicles and the transport sector during the press conference on Monday, September 16, from 11:20 a.m. Read More
From September 17 to 22, 2024, Stellantis Pro One will participate in the IAA Transportation in Hanover, the largest European trade fair dedicated to commercial and industrial vehicles. With a strong leadership position in the EU30 and a market share exceeding 28.5 per cent, Stellantis Pro One arrives at the Hanover show with significant growth in the German market, where it increased its market share by 4 percentage points and sales by over 45 per cent in the first half of 2024.
At this prestigious event, Stellantis’ new division will showcase models from the Citroën, FIAT Professional, Opel, and Peugeot brands: a small but significant example of the countless transformation possibilities for Stellantis’ LCV brands. Specifically, at the German show (Hall H13 – Stand C70), visitors will be able to experience the Opel Combo Electric, Citroën E-Berlingo Crew Van, Peugeot e-Expert Fridge with EPTO, Opel Movano HYDROGEN , and Fiat Professional E-Ducato Cargo Box.
At IAA Transportation 2024, Stellantis Pro One will highlight its conversion and upfit strategy, developed in collaboration with over 450 certified partners worldwide. This extensive network, along with the growing number of in-house transformations, enables Stellantis to offer a wide range of products, from tipper trucks to vans with optimized cargo space, and recreational vehicles, all designed to meet the specific needs of private customers, Small and medium-sized enterprises (SMEs), and large fleets. Read full article
Baker Hughes Rig Count: U.S. -2 to 583 Canada +1 to 220
U.S. Rig Count is down 2 from last week to 583 with oil rigs unchanged at 483, gas rigs down 2 to 95 and miscellaneous rigs unchanged at 5.
Canada Rig Count is up 1 from last week to 220, with oil rigs unchanged at 153, gas rigs up 1 to 67.
The Worldwide Rig Count for July was 1,713, up 7 from the 1,707 counted in June 2024, and down 106, from the 1,819 counted in July 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 30 August 2024 | 583 | -2 |
| Canada | 30 August 2024 | 220 | +1 |
| International | July 2024 | 934. | -23 |
Curvistan has announced its grand opening at its new location in central Bangkok. The venue offers leisure and entertainment for the Porsche community and beyond as a bar, a café, an art gallery and a hangout that celebrates car culture, art and design. Celebrating the spirit of the global Porsche community in the heart of South-East Asia, Curvistan Bangkok is a collaboration between Stefan Bogner, creator of the internationally acclaimed Curves magazine, and Chanond Ruangkritya, an entrepreneur and dedicated Porsche enthusiast. With various local and international curators involved, this space aims to provide an unparalleled experience for motorheads and Porsche lovers alike. Read full article
“Close-up” – the name of this series from the Mercedes-Benz Museum says it all. Each instalment tells a surprising, exciting or behind-the-scenes story, illuminating details of a vehicle, an exhibit, or an architectural or design feature. In the spotlight this time: the Mercedes-Benz 230 G DLRG emergency vehicle of 1982 in the Collection Room 5: Gallery of everyday heroes.
No. 6/2024: The DLRG’s Mercedes-Benz 230 G emergency vehicle
For emergencies: 45 years ago, in 1979, the Mercedes-Benz G model of the 460 model series made its debut. The excellent off-road characteristics of the vehicle immediately impressed aid organisations such as the DLRG (German Life Saving Association), which specialises in water rescue. A G model allows helpers to reach practically impassable locations such as beaches or flooded areas in an emergency. Today this tradition is continued by the Mercedes-Benz G-Class of the 464 model series for rescue and special operations. . Read full article
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