twitter linkedinfacebookacp contact us

Oil Review Middle East weekly digest - 24th - 28th September

Event News

Here is a brief overview of the week’s news on Oil Review Middle East, from 24th - 28th September

Oil market situation shows positives to report: JMMC chairman 

During the 5th meeting of the Joint Ministerial Monitoring Committee (JMMC), hled in Vienna on 22 September 2017, Issam A. Almarzooq, minister of oil and minister of electricity and water in Kuwait and chairman of the JMMC, has said that the oil market situation has improved since the last meeting in St. Petersburg in July 2017. Click here to read the full story.  

Oil prices rise to two-year high after cutting global inventories: OPEC 

Brent crude oil prices have increased to the highest level in more than two years after an OPEC meeting in Vienna on 22 September 2017, at which producers stated that the global oil market is in a way of rebalancing. Click here to read the full story.  

JMMC reports highest ever conformity level 

OPEC and participating Non-OPEC producing countries have recorded the highest conformity ever with their voluntary adjustments in production, achieving a level of 116 per cent, according to the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC). Click here to read the full story.  

Honeywell introduces new ways to modernise control rooms 

Experion® Local Control Network will allow customers to seamlessly upgrade legacy TotalPlant™ Solution (TPS) systems. Click here to read the full story.  

Vallourec signs OCTG supply contract with Shell JV in Egypt 

Vallourec, the global provider of tubular solutions, has signed a contract with Badr El Din Petroleum Company (BAPETCO) for the supply of tubular solutions (OCTG) for 60 to 70 gas wells of an onshore project in the Western Desert of Egypt. Click here to read the full story.  

Trescorp to launch oil storage and bunker services in Sohar 

Singapore-based Trescorp has announced that it will launch a new 45 ha terminal in Sohar port, worth of US$600mn, with the first phase aiming to receive, store and blend crude oil, fuel oil and diesel. Click here to read the full story.  

BP starts production from Khazzan gas field in Oman 

The production has begun from the giant Khazzan gas field, which is operated by BP in partnership with Oman Oil Company Exploration and Production. Click here to read the full story.  

Mann Tek introduces LNG transfer solution for safer operation 

The Swedish coupling manufacturer and supplier MannTek has launched a liquefied natural gas small-scale transfer system that aims to make safer and easier operation across the LNG industry. Click here to read the full story.  

Chevron selects Dassault Systèmes to accelerate new lubricant product development 

Worldwide Collaboration and Innovation Aimed Dassault Systèmes have announced that Chevron Products Company, a manufacturer and supplier of premium base oils and finished lubricants, selected the 3DEXPERIENCE platform to accelerate the development of lubricant products that are sold under the Chevron, Texaco and Caltex names worldwide. Click here to read the full story.  

The oil and gas industry has been increasingly adopting AI technology in recent years, and this trend is expected to continue in the coming years. (Image source: Adobe Stock)

SmartMaster can be used with a range of ABB and third-party instruments. (Image source: ABB)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

ARO Drilling and IMI announce first Kingdom jack up rig (Image source: ARO)

Oman LNG signed various agreements with Shell Gas to secure its gas supply until 2034. (Image source: Adobe Stock)

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

Michael Monica, director sales, marketing and customer care at GPT Industries signs the agreement with Mohamed Altaf, sale manager, Abdulla Fouad Energy Services. (Image source: Alain Charles Publishing)

Amin H. Nasser, CEO of Aramco. (Image source: Aramco)

The system can activate notification and hazard mitigation equipment to notify workers and safeguard facilities. (Image source: MSA Safety)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

The new discoveries will bolster Aramco’s strategy to increase gas production by more than half over 2021 levels, through 2030. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

Source: SafeStart

The new technology is designed to address the challenging conditions in unconventional wells. (Image source: Adobe Stock)

The Ampelmann A-type enabling safe offshore access in the Middle East. (Image source: Ampelmann)

Aramco has produced the first unconventional tight gas from its South Ghawar operational area ahead of schedule. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

TotalEnergies and SONATRACH will develop gas resources in Algeria's north-east Timimoun region, (Image source: Adobe Stock).

By using analytics to augment and empower the workforce, pipeline operators can optimise operations and improve asset availability. (Image source: Adobe Stock)

The oil price is hovering around the US$90/bbl mark. (Image source: Adobe Stock)

The Craig International Qatar team. (Image source: Craig International)

The SuperFill II diverter reduces induced surge pressure. (Image source: Halliburton)

Among other services, KBR will offer proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant. (Image source: Adobe Stock)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

ADNOC Gas recorded robust financial and operational results in 2023. (Image source: Adobe Stock)

Over 4,000 km of SoluForce pipe has been installed around the world. (Image source: SoluForce)

Block 56 is targeted for commercialisation in 2024. (Image source: Canva)

The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

Source: SafeStart

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

The company is well positioned in 2024, with a reshaped and resilient business and a strong balance sheet. (Image source: Adobe Stock)

The vessel addresses the growing demand for accurate hydrographic data. (Image source: Fugro)

The virtual inhouse seismic processing centre will allow each of the decentralised business units of Wintershall Dea globally to collaborate efficiently and directly with DUG. (Image source: Adobe Stock)