HERMACO LOGISTICS BV.

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 2 this week to 585, compared to 619 rigs this same time last year. The number of oil rigs fell by 5 this week to 479 down by 18 compared to this time last year. The number of gas rigs rose by 3 this week to 102, a loss of 16 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 4. Meanwhile, U.S. crude oil production rose in the week ending September 27, according to weekly estimates published by the Energy Information Administration (EIA). Current weekly oil production in the United States, according to the EIA, sits at 100,000 beneath their all-time high, at 13.3 million bpd. Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells that are unfinished, rose in the week ending September 27, from 236 to 238, fairly even with the count at the beginning of this year. Drilling activity in the Permian dipped by 2 this week to 304 a figure that is just 5 fewer than this same time last year. The count in the Eagle Ford stayed the same this week at 48 after staying the same in the two weeks prior. Rigs in the Eagle Ford are now 2 below where they were this time last year. Oil prices were trading up on Friday following fear of an Israeli reprisal for Iran’s ballistic missile bombardment earlier this week. At 12:48 p.m. ET, the WTI benchmark was trading up $1.19 (+1.61%) on the day at $74.90, a roughly $6.50 per barrel gain from this time last week. The Brent benchmark was trading up $1.06 (+1.37%) on the day at $78.63—a nearly $7 per barrel increase over last Friday’s price.

Are you seeking dependable tank leasing solutions for your petroleum logistics? At Hermaco Logistics bV, we offer a comprehensive range of new tanks and facilities tailored to your storage and transportation needs. Our infrastructure is meticulously designed to ensure the highest levels of safety and efficiency for your petroleum products, including EN590, Jet Fuel A1, Diesel Oil D6.

The volatility of international oil markets hit home again earlier this week, as crude prices tumbled to their lowest levels in more than a year.   Just a couple of weeks ago, West Texas Intermediate (WTI) prices — North America's benchmark for crude oil — were around $75 US a barrel. This week, prices skidded to around $66 US a barrel under the weight of ongoing market uncertainty. "I think it's fair at this stage to call it an utter bloodbath," Rory Johnston, a Canadian energy analyst and founder of oil market research company Commodity Context, said on Tuesday, referring to the recent price plunge.    "There are both fundamentally justified reasons for concern, but at the same time, I think that the voraciousness and pace of the price declines that we've seen are not at all justified by the pace or change of the fundamentals that we're seeing." Some market watchers in Alberta believe the market's volatility is only a short-term issue. Johnston suspects prices will rebound in the coming weeks to a month. On Wednesday morning, the WTI price climbed back over $67 US a barrel, up nearly three per cent.   "I think the gradual market weakening is longer-term — conditional on OPEC choices for next year — but I continue to think this sharp selling pressure is short-lived and should reverse itself," said Johnston. #everyone #oilandgas #oilstorage Oil and Gas Job Search Ltd HERMACO LOGISTICS BV.

Crude oil prices have experienced some volatility, beginning this week with gains after a significant selloff last week. Brent crude and West Texas Intermediate both rose over 1% in midmorning trade in Asia, recovering slightly after a steep 10% decline. This selloff, described as "brutal" by Bloomberg, occurred despite signals from OPEC that it would not return supply to the market as originally planned and following another substantial draw in U.S. crude inventories. Key factors influencing the market include: U.S. Economic Data: Weak jobs data from the U.S., with only 142,000 new jobs added in August, raised concerns about demand in the world's largest oil consumer. Despite this, unemployment rose less than expected, leaving some optimism for a potential interest rate cut. OPEC+ Strategy: The group’s decision to delay its planned output increase highlights its intention to maintain balance in the oil market. Analysts from Morgan Stanley noted that, barring further weakening in demand, Brent crude is likely to stay around the mid-$70s. Weather Threats: A weather system in the Gulf of Mexico, which could develop into a hurricane, is also adding uncertainty to oil markets. Upcoming Reports: The market will be closely watching three key reports due this week from OPEC, the International Energy Agency (IEA), and the U.S. Energy Information Administration (EIA). These reports are likely to provide insight into supply demand dynamics and set the tone for prices in the near term. With all these factors at play, market participants will be paying close attention to the updates throughout the week. #everyone #oilandgas Alif Trading TotalEnergies ADNOC Group Email: logistics@hermacobv.nl storage@hermacobv.nl

The recent attack on the Greek-flagged oil tanker Sounion in the Red Sea, allegedly by the Iran-aligned Houthi movement, has escalated into a significant environmental and humanitarian crisis. The vessel, struck by missiles or drones, is now immobilized, on fire, and leaking oil. The tanker was carrying nearly one million barrels of crude oil, raising fears of a potential massive oil spill in the region. In response to international concerns, the Houthis have agreed to allow salvage operations, including the deployment of rescue ships and tugboats, to mitigate the damage. This agreement, which comes after requests from multiple countries, underscores the gravity of the situation and the potential for a major environmental disaster if the spill is not contained. The incident occurred around 90 miles from the Yemeni port city of Hodeida, in a region already fraught with conflict and instability. The crew of the Sounion was safely rescued by a European warship and transported to Djibouti. However, the tanker’s compromised state continues to pose a navigational hazard and a serious threat to the marine ecosystem in the Red Sea. The situation highlights the broader risks associated with maritime traffic in conflict zones, particularly in areas like the Red Sea where geopolitical tensions are high. The involvement of international forces in the rescue and salvage operations may help prevent a worst-case scenario, but the incident serves as a stark reminder of the fragile nature of maritime security in this region. #everyone #oilandgas #oilstorage

OMV has made a significant natural gas discovery in the Norwegian Sea, uncovering up to 140 million barrels of oil equivalent (boe) from its Haydn/Monn exploration prospects. This discovery, located 300 km west of Norway at a depth of 1,064 meters, strengthens OMV's role as a key gas supplier in Europe and enhances its portfolio in Norway. Berislav Gašo, OMV's Executive Vice President of Energy, emphasized that this find aligns with the company’s strategy to increase natural gas to 60% of its production by 2030. This discovery adds to Norway's recent string of significant finds, including Aker BP's unexpected oil discovery in the Yggdrasil area and DNO ASA's major gas and condensate find in the North Sea's Carmen prospect. These discoveries underscore Norway’s pivotal role as Europe’s largest natural gas supplier, particularly as the continent shifts away from Russian energy imports. With ongoing robust pipeline exports to Europe, Norway continues to play a critical role in the region's energy security. #oilandgas #oilupdate #everyone

Explosion at Offshore Natural Gas Pipeline in Louisiana An explosion occurred at an offshore natural gas pipeline in Plaquemines Parish, Louisiana, resulting in the death of one individual, identified as Nichols, who was working on the pipeline at the time. The fire at the site is still burning, with the remaining natural gas in the line being consumed by the flames. Fortunately, no other injuries have been reported. Authorities have blocked the pipelines, and air quality readings show no threat to the public. The cause of the explosion is under investigation. Plaquemines Parish hosts Plaquemines LNG, a major project by Venture Global. The facility, along with the under-construction Calcasieu Pass LNG, will significantly boost the region's LNG capacity, with Plaquemines LNG planned to reach up to 20 million tons annually. Venture Global received the final investment decision in 2022 and has begun preparing the system for gas feed. The facility’s first phase is set for an annual capacity of 13.3 million tons of LNG, with shipments scheduled to start in mid-2024. Major buyers for the LNG include Poland’s Orlen, China’s Sinopec and CNOOC, Shell, EDF, and others. #everyone #oilandgas #oilstorage Oil and Gas Job Search Ltd

Proud to see BP fostering an inclusive environment where everyone can thrive! Celebrating #Pride together as a global team is a powerful reminder of the strength that comes from embracing diversity. 🏳️🌈 #LGBTQ+ #InclusionMatters