Here is a brief overview of the week’s news on Oil Review Middle East from 16th July - 20th July
‘Liquidity still tight for small upstream EMEA oil firms’
Fitch Ratings has described the risks faced by the EMEA small oil and gas exploration and production companies, noting that the sustained fall in global oil price has deteriorated the liquidity positions of small upstream companies in the region. Click here to read the full story.
ABB continues growth momentum as it looks forward to Q3
"In Q2, ABB continued to build its growth momentum as our targeted initiatives are delivering. Order growth was broad-based and across all regions,” said ABB CEO Ulrich Spiesshofer. "Our industry-leading digital offering, ABB Ability, is taking off and starting to contribute to growth”. Click here to read the full story.
Oman achieves progress in developing Bahja-Rima oilfield
Oman’s major oil exploration and production company Petroleum Development Oman (PDO) has achieved significant progress in developing the Bahja-Rima cluster oilfield, thus targeting to reach production capacity of 94,000 bpd by 2021. Click here to read the full story.
NIOC and Japan’s Toyo sign MoU to boost production at Salman field
Iran’s National Iranian Oil Company (NIOC) has signed a Memorandum of Understanding (MoU) with a consortium that includes Japan’s engineering group Toyo to revamp facilities and upgrade gas production at the Salman field in the Gulf. Click here to read the full story.
Chicago Pneumatic towers to light up oil and gas project in Kuwait
Chicago Pneumatic has sold 100 CPLT V15 metal halide tough and efficient light towers in Kuwait to its authorised distributor General Transportation & Equipment Company (GTE). Click here to read the full story.
Egypt to double natural gas output by 2020
The Ministry of Petroleum in Egypt has announced that three recently discovered gas fields in the country are expected to raise natural gas output in the country by 50 per cent in 2018 and 100 per cent in 2020. Click here to read the full story.
Honeywell to provide detergent manufacturing technologies to Farabi Petrochemicals Company
Honeywell UOP is to supply Saudi Arabia's Farabi Petrochemicals Company with technologies for a new petrochemicals complex at its Yanbu facility, to enable Farabi to expand production of biodegradable detergents. Click here to read the full story.
ADNOC and Borealis to expand joint petrochemicals activities
The Abu Dhabi National Oil Company (ADNOC) and Borealis have signed a framework agreement to advance two key projects that will expand the downstream petrochemicals business of both companies. Click here to read the full story.
PDO extends R&D cooperation with Omani universities
Petroleum Development Oman (PDO) has signed research and development agreements with Sohar and A’sharqiyah Universities to help resolve some of its complex technical challenges in the areas of enhanced oil recovery, water management and energy efficiency. Click here to read the full story.
Sadara begins production of propylene glycol in Saudi Arabia
Saudi Arabia’s Sadara Chemical Company announced that it has started production at its 22nd propylene glycol (PG) plant at the company’s chemical complex in Jubail Industrial City II. Click here to read the full story.
