Oil Review Middle East weekly digest - 2nd July - 6th July

public domain commons for ORME 307Here is a brief overview of the week’s news on Oil Review Middle East, from 2nd July - 7th July 2017

Saudi Aramco's 2016 review displays continued growth 

Saudi Aramco has released its 2016 Annual Review, highlighting the significant achievements in progressing its long-term strategy as the world's leading integrated energy company. Click here to read the full story.

Energy giants to invest in Qatar’s gas expansion project 

The CEOs of ExxonMobil, Royal Dutch Shell and France’s Total met Sheikh Tamim bin Hamad al-Thani, the emir of Qatar, and expressed their interest to help Qatar in its ambition to produce 100mn tonnes of LNG annually in the next five to seven years. Click here to read the full story.

Actemium awarded major EPC contract for control systems upgrade in Abu Dhabi 

Actemium has been awarded an Engineering Procurement and Construction (EPC) contract by Abu Dhabi Gas Industries Limited (GASCO) for the upgrade of the control systems at the company’s Asab-1 plant. Click here to read the full story.

New Baker Hughes to bring fullstream oil and gas solution 

Baker Hughes (BHGE), part of the multinational conglomerate General Electric (GE) company, announced that it has completed the transaction with GE's oil and gas business, and will bring together industry-leading equipment, services and digital solutions across oil and gas development. Click here to read the full story

Libya's oil production exceeds one million bpd 

Libya's oil production has risen to 1.012mn barrels per day (BPD), as reported by Reuters, topping one million barrels for the first time in four years. Click here to read the full story. 

UAE economy remains relatively robust despite slowing growth rate 

According to credit rating agency Moody's, the UAE's economy grew at a relatively strong three per cent in 2016, although less than the average 4.9 per cent annual rate between 2011 and 2015. Click here to read the full story

Total SA signs South Pars gas field deal with Iran 

France’s Total SA has signed a 20-year gas contract worth US$5bn with Iran, aiming to develop the country’s biggest South Pars gas field, with a targeted production capacity of two billion cubic feet per day including condensate. Click here to read the full story. 

ABB acquires KEYMILE’s communication networks business

ABB announced on 3 July that it has agreed to acquire the mission-critical communication business of the KEYMILE Group to strengthen its communication networks portfolio. Click here to read the full story


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