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.
