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The new pump is designed to meet the demanding requirements of the oil and gas industry, among others. (Image source: Michael Smith Engineers)

Michael Smith Engineers Ltd has launched the TPM magnetic coupled peripheral pump, engineered by Dickow Pumpen

The TPM peripheral pump, also known as a turbine pump, is designed to meet the demanding requirements of industries including oil & gas, chemical, petrochemical, aviation, and renewable energy. It operates in a similar way to centrifugal and side-channel pumps, offering the best of both worlds. With its low Net Positive Suction Head (NPSH) requirements, the TPM pump is ideally suited for applications with limited suction head.

The TPM range can deliver flow rates of up to 17 m³/hr and a maximum differential head of 400 metres. With a design pressure of 40 bar and maximum operating temperature of 300°C, the TPM range is built to ensure reliable performance even under the most challenging conditions.

One notable feature of the pump is its ability to handle liquids with entrained gas, enabling continuous operation even during gas release or temporary air ingress. Additionally, its hermetically sealed design makes it ideally suited to handling toxic, explosive, or environmentally hazardous fluids, ensuring safety and compliance with stringent environmental standards.

David Todd of Michael Smith Engineers said, "‘We are delighted to be able to offer our customers this new pump technology from Dickow Pump, whom we have been in partnership with for almost three decades. We are confident this will be as successful as the rest of the Dickow pump range."

U.S. crude production growth is slowing. (Image source: Adobe Stock)

Lower production growth outside OPEC+ will narrow the market surplus in 2025 but is still expected to outstrip global demand growth, according to the latest S&P Global Commodity Insights Outlook

The Outlook expects non-OPEC+ crude oil production growth (including condensate) to be 390,000 bpd lower (829,000 bpd of growth) in the second half 2024 and 570,000 bpd lower (1,117,000 bpd of growth) in 2025 than the previous month’s forecast.

Lower expectations for U.S. crude production growth are the main reason for the downward revision to the non-OPEC+ crude oil production outlook. S&P Global Commodity Insights forecasts U.S. crude growth for the second half of 2024 at 182,000 bpd, which is 174,000 bpd less than previously expected. U.S. crude oil production growth for 2025 is now expected to be 429,000 bpd, a downward revision of 311,000 bpd.

“The reason for the cut in our U.S. supply growth expectation is simple – there has been less upstream activity so far this year than previously anticipated. That is a reflection of expectations for decelerating demand growth and lower prices. The United States is still on track to produce more oil in 2025 than any other time in history. However, the degree by which it surpasses the previous record has reduced substantially,” said Jim Burkhard, vice president and head of research for Oil Markets, Energy and Mobility, S&P Global Commodity Insights.

Potential oversupply

Weaker U.S. supply growth does not necessarily mean higher prices, the analysis says. OPEC+ recently reaffirmed its plans to increase production later this year. With more oil supply from OPEC+ coming, the global oil market is still on track to be oversupplied in 2025, although OPEC+ can alter production policy at any time. Despite the cut to the U.S. outlook, S&P Global Commodity Insights expects crude oil prices in 2025 to be lower, on average, than in 2024.

“The pace of supply growth is slowing, but that coincides with decelerating global demand. Factor in the prospect of additional OPEC+ barrels coming into the mix, and it all adds up to a potentially oversupplied crude market in 2025,” said Burkhard.

The IEA in its latest monthly report also mentions the “marked slowdown in Chinese oil demand growth", projecting global oil demand growth at slightly less than 1 mn bpd in both 2024 and 2025.

The IEA also notes the “Olympic levels of volatility” in the oil markets in recent weeks, with persistent geopolitical tensions in the Middle East and some relatively positive macroeconomic data pushing prices higher in the second week of August following tumbling prices in July and early August.

The value of global oil and gas contracts awarded rose by 47% in Q2 2024, compared to Q1 2024, according to data and analytics company GlobalData

Total disclosed value increased by 47% quarter-on-quarter to reach US$54.91bn in Q2 2024 from US$37.3bn in Q1, according to GlobalData’s latest report, "Oil and Gas Industry Contracts Review by Sector, Region, Terrain and Top Contractors and Issuers, Q2 2024", although overall the number of oil and gas contracts was down slightly from 1,473 in Q1 2024 to 1,377 in Q2 2024.

Significant contracts

In the Middle East, notable contracts included Samsung Engineering, GS Engineering & Construction, and Nesma & Partners’ US$7.7bn EPC contract from Saudi Aramco for the Fadhili Gas plant expansion, to increase capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd).

Petrobras' key upstream contracts in the second quarter of 2024, offshore Brazil, were a major factor behind the rise in contract value, including the US$8.15bn P-84 and P-85 FPSO construction contract to Seatrium, the US$1.8bn contract for subsea engineering to the Sapura consortium, and an additional US$2.5bn for pipelay vessels, rigid risers, and flowlines contracts to Subsea 7.

Other significant contracts highlighted include the Tecnimont-led consortium’s US$2.3bn EPC contract from Sonatrach for three gas boosting stations with 20 turbo-compressor trains in Algeria; and Saipem’s US$850mn rigid pipelines, flexible flowlines, jumpers, and umbilicals work for Azule Energy’s Ndungu field development in Angola.

Operation and Maintenance (O&M) scope reported 681 contracts, accounting for 49% of the total contracts in Q2 2024, followed by procurement with 400 contracts representing a 29% share. Contracts with multiple scopes, such as construction, design and engineering, installation, O&M, and procurement, accounted for 9% of the contracts.

The opening of the new office. (Image source: KROHNE)

KROHNE, a global leader in measurement technology, is enhancing its presence in the region with the opening of a new office in Expo City Dubai

The state-of-the-art facility will serve as a hub for advanced solution sales and customer-centric services, featuring training facilities and a workshop to house minor repairs for the growing Services team. It will focus on developing cutting-edge technologies that support sustainable industrial practices and will enable the company to strengthen relationships with key partners in the UAE government and the private sector, fostering collaborations across energy, water, and other critical industries.

Chief sales officer Marco Rudelli said, "This location not only enhances our ability to serve our customers but also aligns with our commitment to supporting the UAE's vision for a sustainable future. Expo City is a significant part of our legacy-building efforts, as it positions us at the heart of a vibrant, forward-thinking community. We are excited to deepen our ties with key partners in the UAE government and the private sector across energy, water, and all industries we operate in."

Frank Janssens, vice president of KROHNE Middle East and Africa, added, "Our new office represents a significant investment in the UAE. It allows us to be closer to our customers, understand their needs better, and deliver tailored solutions. We are committed to building a lasting legacy in the UAE, focusing on sustainability and innovation."

The funding is for research that aims to deliver environmental and commercial benefits. (Image source: KAUST)

Aramco has signed a Memorandum of Understanding (MoU) with King Abdullah University of Science and Technology (KAUST) to fund up to US$100mn in research and development projects over the next 10 years

The funding will support a wide range of initiatives, from essential research to applied technologies. Areas of collaboration include energy transition, sustainability, materials transition, upstream technologies and digital solutions, with an emphasis on developing commercially viable outcomes.

Topics identified within the energy transition field include liquids-to-chemicals conversion and future refineries research, as well as low-carbon aviation fuels. Sustainability research will include hydrogen, carbon capture and storage, renewables and energy storage solutions. Additional projects are expected to focus on advanced carbon materials and geothermal energy, among other things.

Deepening the relationship

Amin H. Nasser, Aramco president & CEO, said, “This collaboration will further deepen Aramco’s relationship with KAUST, and we look forward to exploring new possibilities and frontiers with a strong focus on R&D and technology development, reflecting our firm belief in the importance of innovation across industries and applications.”

ATony Chan, KAUST president, said, “The partnership exemplifies KAUST's dedication to fostering impactful research that drives technological advancements and addresses real-world challenges. Our collaboration with Aramco will leverage our combined expertise to develop innovative solutions for a sustainable future."

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