Here we are at the end of another successful (hopefully for all oil and gas operators, but this rarely happens) edition of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2017, rated nowadays as the world's most influential Oil and Gas exhibition and conference. Nevertheless encouraging perspectives show at the horizon and the market seems to have gotten a hopeful boost in the context of the large debated topic in the last 2 years at least: electricity and statements of the biggest automotive manufacturers. Electric vehicles could displace oil demand of 2 million barrels a day as early as 2023. That would create a glut of oil equivalent to what triggered the 2014 oil crisis. (Bloomberg: "Here’s How Electric Cars Will Cause the Next Oil Crisis").

Well, oil and gas will remain and generate however the most part of the fuels, if we talk only about those as the subject can be extended to chemistry and so on.
ADIPEC 2017 showed power, determination, strategy and flexibility, perspectives. In numbers that means 100,000+ attendees, 2,200+ exhibiting companies, 25 country pavilions, 18NOCs, 16IOCs, 200+ conference sessions, 900+ expert speakers, 10,000+ conference delegates. Quite impressive!

For our Group’s Industrial Technology Business Unit this edition was again crowned with success, with business continuing on the same uptrend, constantly delivering quality and being recognized by our end-users (both governmental – ADNOC as main figure – and non-governmental) as a stable partner always aligned with market rules and tendencies.

On site, at the exhibition, and in parallel meetings our Group’s oil and gas companies conducted meetings and presentations with end-users, existing clients and willing to collaborate companies from all over the world.
HABSHAN TRADING COMPANY (HTC), one of the recognized top 10 suppliers of industrial equipment to the oil, gas and power generation sectors in UAE, prestigious owner of multiple coveted awards granted by ADNOC Group of Companies (most recent titles: ADMA Supplier Recognition Program (SRP), ADGAS award for Excellence Performance, GASCO Excellent Supplier Award) shared their expertise in partnership with Elliott Group and Ebara Corporation.
MTGS Oilfield Division represented their technology partners from various leading international companies from North America, Europe, Japan, and China such as National Oilwell Varco, Nikkiso Company ltd, Prosernat, Rubicon, EXHeat, WISE, Argus, WEIR, and many others.  For four consecutive days, their entire team conducted presentations and business meetings, guiding and revealing to the attendees from various countries the trends of the local and GCC market, and demonstrating the advantages of working with MTGS OFD to introduce the various solutions they provide to the market.

Now the show is over, but business continues. What were the predictions at the beginning of the year and what will be the conclusions after drawing the line in the upcoming December?
We will let you contemplate this, suggesting only as start point few opinions of some of the most prestigious business analysts, released in the first half of 2017:

At the beginning of the year Forbes was identifying in July five trends shaping today's global oil market: "Five Trends Shaping Today's Global Oil Market"

Deloitte highlights the slow path to recovery with an outlook at oil and gas industry for 2017. “The impact of the extended oil price downturn will likely have long-term effects on the industry in a number of areas including capital allocation and people”: "The slow path to recovery"

PricewaterhouseCoopers (PwC) 2017 Oil and Gas Trends: “Much of the oil and gas industry has survived an especially tough few years with weak demand and low prices. It has been difficult to make strategic decisions and plan for the future. Only now is the sector beginning to emerge from its upheaval.” - "2017 Oil and Gas Trends"