"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”

"Operational performance in the Power Grids and Industrial Automation divisions was solid in the quarter. Electrification Products and Robotics and Motion improved margins sequentially, but were not able to fully compensate commodity price headwinds and overcapacity during the quarter,” he said. "While we are pleased with the growth momentum, especially the double-digit order growth in Robotics and Motion, we remain firmly focused on further improving operational execution and our cost base.”

"The successful completion of the B&R acquisition and the handover of our last legacy off-shore wind project, Dolwin 2, are solid examples of the disciplined execution of our Next Level strategy.” 

Asia, Middle East and Africa (AMEA) grew due to increased demand in industry, transport, and infrastructure for energy-efficient and automation solutions. Utilities made selective investments in the quarter. Total orders increased 2 percent (2 percent lower in US dollars) driven primarily by substantial growth in India, Saudi Arabia and South Africa. 

ABB continued the implementation of its Next Level strategy during the quarter by further shifting its center of gravity to higher growth segments, strengthening its competitiveness and de-risking the portfolio.

On July 6, ABB announced the completion of its acquisition of B&R (Bernecker + Rainer Industrie-Elektronik GmbH), the largest independent provider focused on product- and software-based, open-architecture solutions for machine and factory automation worldwide. This acquisition closes ABB’s historic gap in machine and factory automation and will create a uniquely comprehensive automation portfolio for customers globally. This all-cash acquisition is expected to be EPS-accretive in the first year.

On July 3, ABB announced that it had agreed to acquire the mission-critical communication network business from the KEYMILE Group to strengthen its portfolio and further enhance ABB Ability. It will add reliable communications technologies that are essential to maintain today’s dynamic and complex digital electrical grids. The acquisition will bring with it products, software and service solutions, as well as research and development expertise. It is expected to close during the third quarter of 2017.

ABB continues to build on its existing momentum and is further accelerating its operational performance.

Macroeconomic and geopolitical developments are signaling a mixed picture with continued uncertainty. Some macroeconomic signs remain positive in the United States and growth in China is expected to continue. The overall global market remains impacted by modest growth and increased uncertainties, e.g., Brexit in Europe and geopolitical tensions in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company’s results. With this and the ongoing transformation of ABB, we expect 2017 to be a transitional year.

The attractive long-term demand outlook in ABB’s three major customer sectors — utilities, industry and transport & infrastructure — is driven by the Energy and Fourth Industrial Revolutions.

ABB is well-positioned to tap into these opportunities for long-term profitable growth with its strong market presence, broad geographic and business scope, technology leadership and financial strength.

Tullow Oil has released a statement to summarise recent operational activities and to provide trading guidance in respect of the financial half year to 30 June 2017

The global recruitment partner Petroplan’s survey on Talent Insight Index 2017 has revealed that the oil and gas industry is facing skill shortages among workers, with many professionals intending to move jobs to other sectors as a potential career choice

Weir Oil & Gas, a leading upstream provider of pressure pumping and pressure control equipment and services, announced the appointment of Ronan Le Gloahec as managing director EMEA region, effective immediately

Emerson’s Roxar Tempest 8.0 provides risk mitigation, increased field productivity and expanded integration from geosciences to production 

Emerson Automation Solutions has launched the latest version of its reservoir management software suite, Roxar Tempest 8.0, bringing reservoir engineers more tools to maximise the potential of their fields. The latest version features additional history-matching capabilities; enhanced field productivity thanks to greater simulation performance; and an integrated workflow from geosciences to production

“Our reservoir management software has always had a simple goal – to help operators make better decisions and improve field economics when it comes to their development plans,” said Kjetil Fagervik, vice president of product development and marketing of Roxar Software at Emerson Automation Solutions. 

“We have now taken this goal a step further, adding even greater value throughout the reservoir lifecycle by providing a technology platform that combines engineering and geology and ensures that the very best uncertainty and risk analysis information is available for those vital field development decisions.”

Further integration from geosciences to production as a result of the Big Loop solution, offering reservoir engineers an automated workflow that tightly integrates static and dynamic domains throughout the field’s lifetime, incorporates the stochastic property of geological inputs, and ensures optimal consistency of the reservoir properties with the underlying geology. Reservoir engineers can also utilize the Roxar App Connector to run additional third-party programmes or in-house applications, leading to improved uncertainty analysis through the closer integration of geology and engineering. 

Roxar Tempest, which runs on Windows and Linux and operates alongside Emerson’s reservoir modeling solution, Roxar RMS, is an integrated software suite that provides a single, consistent interface and is used in hundreds of installations worldwide. Tempest modules include fluid analysis and an economic evaluation tool that provides cash flow analysis derived from simulation results. All modules can be deployed as an integrated suite with a common interface, or separately within third party simulation workflows.