HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced two transactions intended to core up the important Asia-Pacific segment of its diverse global portfolio.
The company announced it has entered into an agreement to sell the subsidiary that indirectly owns the company’s 54% interest in the Indonesia Corridor Block Production Sharing Contract (PSC) and a 35% shareholding interest in the Transasia Pipeline Company. The sale to MedcoEnergi for $1.355 billion is subject to customary adjustments and is expected to close in early 2022, subject to certain conditions precedent. The Indonesia assets being sold produced approximately 50 thousand barrels of oil equivalent per day (MBOED) for the nine months ended Sept. 30, 2021, and had year-end 2020 proved reserves of approximately 85 million barrels of oil equivalent. The effective date for the transaction will be Jan. 1, 2021.
In addition, through its Australian subsidiary, the company announced that it has notified Origin Energy that it is exercising its preemption right to purchase up to an additional 10% shareholding interest in Australia Pacific LNG (APLNG) from Origin Energy for up to $1.645 billion, which will be funded from cash on the balance sheet, subject to customary adjustments. The ConocoPhillips subsidiary currently holds a 37.5% APLNG shareholding interest and would own 47.5% of APLNG upon closing if the other relevant APLNG shareholder does not exercise its preemption rights. The transaction is expected to close in the first quarter of 2022 and is subject to Australian government approval. ConocoPhillips’ full-year 2020 production from APLNG was approximately 115 MBOED, and full-year 2021 distributions are expected to be approximately $750 million, excluding distributions resulting from any additional shareholding interest arising from preemption. The effective date of the transaction will be July 1, 2020.
“Today’s announcement reflects our ongoing commitment to further strengthen our company across every aspect of our global portfolio,” said Ryan Lance, ConocoPhillips chairman and chief executive officer. “The Asia Pacific region plays an important role in our diversification advantage as an independent E&P and these two transactions enhance that advantage by lowering our aggregate decline rate and diversifying our product mix. We are proud of our nearly 50-year history in Indonesia and pleased that MedcoEnergi recognizes the value of this business. We are also pleased to have the opportunity to effectively deploy the proceeds from the sale of our Indonesia assets toward additional shareholding interest in APLNG, which supplies LNG to long-term buyers in both China and Japan and is currently the largest supplier of natural gas to Australia’s East coast domestic market, meeting over 30% of its total demand. Through the achievements of APLNG and its other shareholders, Origin Energy and Sinopec, APLNG has become a world-class integrated LNG operation. It will continue supplying customers in the Asia Pacific region with reliable energy that is lower in GHG intensity than many of the alternatives, and thus help meet energy transition pathway demand for years to come.”
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About ConocoPhillips
Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 14 countries, $87 billion of total assets, and approximately 9,900 employees at Sept. 30, 2021. Production excluding Libya averaged 1,514 MBOED for the nine months ended Sept. 30, 2021, and proved reserves were 4.5 BBOE as of Dec. 31, 2020. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This new release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events, plans and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as “anticipate," “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict," “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, including pandemics (such as COVID-19) and epidemics and any related company or government policies or actions; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes resulting from a public health crisis or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including a prolonged decline in these prices relative to historical or future expected levels; insufficient liquidity or other factors, such as those listed herein, that could impact our ability to repurchase shares and declare and pay dividends such that we suspend our share repurchase program and reduce, suspend, or totally eliminate dividend payments in the future, whether variable or fixed; changes in expected levels of oil and gas reserves or production; potential failures or delays in achieving expected reserve or production levels from existing and future oil and gas developments, including due to operating hazards, drilling risks or unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to liquidate the common stock issued to us by Cenovus Energy Inc. at prices we deem acceptable, or at all; our ability to complete any announced or any future dispositions or acquisitions on time, if at all; the possibility that regulatory approvals for any announced or any future dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of the transactions or our remaining business; business disruptions during or following the acquisition of assets from Shell (the “Shell Acquisition”) or any other announced or any future dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced or any future dispositions in the manner and timeframe we anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation, including litigation related to our transaction with Concho Resources Inc. (Concho); the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions; the ability to successfully integrate the assets from the Shell Acquisition or achieve the anticipated benefits from the transaction; the ability to successfully integrate the operations of Concho with our operations and achieve the anticipated benefits from the transaction; unanticipated difficulties or expenditures relating to the Shell Acquisition or the Concho transaction; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from extraordinary weather events, civil unrest, war, terrorism or a cyber attack; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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HOUSTON--(BUSINESS WIRE)--Deepwater Riser Services, a division of Morrison, a leading energy service company for the oil, gas and renewables industries, is pleased to announce that its Houma, Louisiana storage facility is now certified as a foreign trade zone.
“We are extremely pleased to share this news with our customers, industry partners, and prospective customers,” said John DeBlieux, Vice President of Deepwater Riser Services. “As a secure foreign-trade zone, our Houma storage facility will allow our clients to store drilling products without the need to pay customs or duties and property is not subject to ad valorem taxes. Providing cost-effective, turnkey storage services, the organization is poised to handle everything from transportation to logistics to ensure the customer’s experience is hassle-free.“
With 24 acres of dedicated storage and maintenance areas in Houma, LA Deepwater Riser Services offers a safe harbor and convenient access for transportation whether coming in or out of the Gulf of Mexico by truck or barge. Additional value is provided to importers who may be able to defer duties or tariffs on products by storing their items within the FTZ.
Deepwater Riser Service’s Houma storage facility is API Spec Q1 Registered and is located 15 miles off of Highway 90, which makes it only a 1.5-hour drive from Port Fourchon and a 12-hour tow. To support its customers’ needs, the organization has additional facilities across the Gulf of Mexico that are strategically located to support the demands of the energy industry and allow their crews and vessels to be easily dispatched to support any operation internationally.
To learn more about Deepwater Riser Services’ newly certified Foreign Trade Zone and the advantages it can offer, please visit riserservices.com/storage/
About Deepwater Riser Services
Deepwater Riser Services, a division of Morrison, provides comprehensive inspection, transportation, maintenance, repair, and storage services for marine drilling risers and equipment The company strives to provide customers with products that meet or exceed their requirements, the requirements of recognized standards, and to continually improve the effectiveness of our quality management system. For more information, visit: https://riserservices.com/.
About Morrison
Chet Morrison Contractors, LLC (Morrison) is an energy service company that delivers integrated infrastructure solutions to clients in the oil and gas and renewables industries. With more than 38 years of experience, worldwide facilities and a wide range of specialized resources, the company prides itself on providing creative alternatives and value-added solutions to every project, both onshore and offshore. The company adheres to the highest standards of quality and safety with uncompromising regard for the environment. For more information, visit: www.morrisonenergy.com.
John DeBlieux
Vice President of Deepwater Riser Services
Deepwater Riser Services
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985.850.1226
Kelly Reeves
VP of Marketing
Morrison
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985-858-3112
DUBLIN--(BUSINESS WIRE)--The "Global Petrochemicals New Build and Expansion Projects Outlook to 2025 - Review by Type, Commodity, Development Stage, and Region" report has been added to ResearchAndMarkets.com's offering.
Globally, 1,365 upcoming petrochemicals projects are expected to start operations during the 2021 to 2025 outlook period.
Of these, 1,189 represent new build projects and 176 are expansions of existing projects. In the global petrochemicals sector, the polypropylene segment is expected to witness the highest number of projects(128) commencing operations during the 2021 to 2025 outlook period. Polyethylene and propylene segments follow with 118 and 99 projects, respectively.
Scope
Reasons to Buy
Key Topics Covered:
1 Table of Contents
1.1 List of Tables
1.2 List of Figures
2. Global Petrochemicals New Build and Expansion Projects Outlook, 2021-2025
2.1 Key Highlights
2.2 Petrochemicals Projects Outlook by Type and Commodity
2.3 Petrochemicals Projects Outlook by Development Stage
2.4 Petrochemicals Projects Cost Outlook by Type and Region
2.5 Petrochemicals Projects Cost Outlook by Type and Key Countries
3. Methanol Projects Outlook
3.1 Methanol Projects Outlook by Type
3.2 Methanol Projects Outlook by Development Stage
3.3 Methanol Projects Capacity Additions Outlook by Type and Key Countries
3.4 Methanol Projects Cost Outlook by Type and Key Countries
3.5 Major Methanol Projects
4. Ethylene Projects Outlook
4.1 Ethylene Projects Outlook by Type
4.2 Ethylene Projects Outlook by Development Stage
4.3 Ethylene Projects Capacity Additions Outlook by Type and Key Countries
4.4 Ethylene Projects Cost Outlook by Type and Key Countries
4.5 Major Ethylene Projects
5. Polypropylene Projects Outlook
5.1 Polypropylene Projects Outlook by Type
5.2 Polypropylene Projects Outlook by Development Stage
5.3 Polypropylene Projects Capacity Additions Outlook by Type and Key Countries
5.4 Polypropylene Projects Cost Outlook by Type and Key Countries
5.5 Major Polypropylene Projects
6. Urea Projects Outlook
6.1 Urea Projects Outlook by Type
6.2 Urea Projects Outlook by Development Stage
6.3 Urea Capacity Additions Outlook by Type and Key Countries
6.4 Urea Projects Cost Outlook by Type and Key Countries
6.5 Major Urea Projects
7. Propylene Projects Outlook
7.1 Propylene Projects Outlook by Type
7.2 Propylene Projects Outlook by Development Stage
7.3 Propylene Projects Capacity Additions Outlook by Type and Key Countries
7.4 Propylene Projects Cost Outlook by Type and Key Countries
7.5 Major Propylene Projects
8. Polyethylene Projects Outlook
8.1 Polyethylene Projects Outlook by Type
8.2 Polyethylene Projects Outlook by Development Stage
8.3 Polyethylene Capacity Additions Outlook by Type and Key Countries
8.4 Polyethylene Projects Cost Outlook by Type and Key Countries
8.5 Major Polyethylene Projects
9. Ammonia Projects Outlook
9.1 Ammonia Projects Outlook by Type
9.2 Ammonia Projects Outlook by Development Stage
9.3 Ammonia Projects Capacity Additions Outlook by Type and Key Countries
9.4 Ammonia Projects Cost Outlook by Type and Key Countries
9.5 Major Ammonia Projects
For more information about this report visit https://www.researchandmarkets.com/r/h0zyxc
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HANFORD, Calif.--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (“Faraday Future” or the “Company”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today provided a Business Update from its Hanford, California manufacturing facility, at 4:00pm Eastern Time.
WEBCAST, CONFERENCE CALL, AND REPLAY CALL INFORMATION
Interested investors and other parties can listen to a webcast of the conference call by logging onto the Investor Relations section of the Company's website at https://investors.ff.com/ .
The conference call can be accessed live over the phone by dialing +1-877-451-6152 (domestic) or +1-201-389-0879 (international). A replay will be available approximately two hours after the call by dialing +1-844-512-2921, or for international callers, +1-412-317-6671. The pin for the replay is 13725483. The replay will be available until 11:59 p.m. Eastern Time on March 31, 2022.
ABOUT FARADAY FUTURE
Established in May 2014, Faraday Future is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. Since its inception, Faraday Future has implemented numerous innovations relating to its products, technology, business model, profit model, user ecosystem, and governance structure. On July 22, 2021, Faraday Future was listed on NASDAQ with the new company name “Faraday Future Intelligent Electric Inc.”, and the ticker symbols “FFIE” for its Class A common stock and “FFIEW” for its warrants. The “I” in FFIE stands for Intelligent and Internet and the “E” stands for Ecosystem and Electric. FF is not just an EV company, but also an internet and technology company, an AI product company, a software company, and a user ecosystem company. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the ultimate intelligent techluxury brand positioning, Faraday Future’s first flagship product FF 91 Futurist is equipped with exceptional product power. It is not just a high-performance EV, an all-ability car, and an ultimate robotic vehicle, but also the third internet living space.
FOLLOW FARADAY FUTURE:
https://twitter.com/FaradayFuture
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https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture
NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
FORWARD LOOKING STATEMENTS
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside FF’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include FF’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; FF’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of FF’s vehicles; the success of other competing manufacturers; the performance and security of FF’s vehicles; potential litigation involving FF and the outcome of the investigation of FF’s special committee; the result of future financing efforts and general economic and market conditions impacting demand for FF’s products. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the preliminary registration statement on Form S-1 and Form 12b-25 recently filed by FF and other documents filed by FF from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FF does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For Faraday Future
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or
John Schilling
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DUBLIN--(BUSINESS WIRE)--The "Global Butane Market (2021-2026) by Application and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Butane Market is estimated to be USD 63.5 Bn in 2021 and is expected to reach USD 78.4 Bn by 2026, growing at a CAGR of 4.3%.
Companies Mentioned
The rising demand for residential LPG in developing countries is fostering the growth of the market. In addition, the increasing demand for pure butane as a refrigerant in a domestic refrigerator, freezers, and surging household energy demand from cooking and heating applications are contributing to the market's growth. The preferences for substitute products in gasoline application and reduction in the product's effectiveness in a colder environment hinder the market growth.
The increasing investment by the key players in the refining and production of petrochemicals will create huge opportunities for the market. The key challenge for the market growth is the volatility in the spot prices of NGL and Crude oil.
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1 Drivers
4.1.1 Rising Usage of LPG
4.1.2 Increasing Adoption of Pure Butane in Domestic Refrigerator Freezer
4.1.3 Rising Demand in Petrochemical Industry
4.1.4 Surging Demand for Household Energy from Cooking and Heating Applications
4.2 Restraints
4.2.1 Impact of Colder Environment on the Product
4.2.2 Preferences for Substitute Products in Gasoline
4.2.3 Increasing R&D in the Field of Renewable Sources
4.3 Opportunities
4.3.1 Increasing Investment in Refineries and Petrochemicals Capacities
4.4 Challenges
4.4.1 Volatility in Spot Prices of NGL and Crude Oil
4.5 Trends
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Butane Market, By Application
6.1 Introduction
6.2 LPG
6.2.1 Auto-Fuel
6.2.2 Chemicals and Petrochemicals
6.2.3 Industrial
6.2.4 Refinery
6.2.5 Residential and Commercial
6.3 Petrochemicals
6.4 Refineries
7 Global Butane Market, By Geography
8 Competitive Landscape
8.1 IGR Competitive Quadrant
8.2 Market Share Analysis
8.3 Strategic Initiatives
8.3.1 M&A and Investments
8.3.2 Partnerships and Collaborations
8.3.3 Product Developments and Improvements
9 Company Profiles
10 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ct58j8
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HAMILTON, Bermuda--(BUSINESS WIRE)--ST Energy Transition I Ltd. (the “Company”) announced today the pricing of 25,000,000 Stakeholder Aligned Initial Listing, or SAILSM, security, at a price of $10.00 per SAILSM security. The SAILSM securities were listed on the New York Stock Exchange and began trading under the ticker symbol “STET.U” on December 3, 2021.
The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a target in any industry or geographic location, it intends to focus its search on opportunities that contribute in positive ways towards energy transition and clean energy technology.
The Company’s board is led by John Fredriksen, chairperson, and includes independent directors Ole-Eirik Lerøy, Cato Stonex, James O’Shaughnessy, Tore Myrholt and Annika Sigfrid. Gunnar Eliassen is the Chief Executive Officer of the Company and Jan Erik Klepsland is the Chief Financial Officer of the Company.
Each SAILSM security consists of one Class A share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A share at a price of $11.50 per share. Once the securities constituting the SAILSM securities begin separate trading, the Class A shares and warrants will be listed on the New York Stock Exchange under the symbols “STET” and “STETWS,” respectively.
Morgan Stanley is acting as sole bookrunning manager and joint lead manager and DNB Markets is acting as joint lead manager in the offering. The Company has granted the underwriters a 45-day option to purchase up to 3,750,000 additional SAILSM securities at the initial public offering price to cover over-allotments, if any.
The initial public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website (http://www.sec.gov), and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014 or by e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it..
A registration statement relating to the securities sold in the initial public offering has been declared effective by the U.S. Securities and Exchange Commission on December [2], 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary note regarding forward-looking statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Gunnar Eliassen
Email address: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1 (441) 295-6935
LITTLE RIVER, S.C.--(BUSINESS WIRE)--PCT LTD (OTC Pink: PCTL) is excited to announce that they have restructured and consolidated their notes with RB Capital Partners, Inc., into a single note for $1,465,000 at 5% interest. The note is convertible to common stock above the market at $0.07 and the due date has been extended to December 15, 2024.
Brett Rosen, Managing Partner of RB Capital, stated, “We are proud of the work and effort that the team at PCTL has done to develop and enhance the Company’s products and services. As long-time supporters of PCTL, we were happy to restructure our debt, extending the time on the repayment of the loans so PCTL could implement its strategic marketing plans.”
Gary Grieco, CEO, stated, "RB Capital stepped up with funding at a critical time in PCTL's history. The funding allowed us to repay debt, add personnel, and redesign our product line. By extending the repayment of the debt, it affords us time to use our cash flow to expand and grow sales and invest in our R&D programs. RB's action along with the recent equity investment of $2,250,000 from Krag Capital, will help us to build our reputation in the industry and capture additional market share with our breakthrough products in healthcare, oil & gas, and agricultural industries."
About PCT LTD:
PCT LTD ("PCTL") focuses its business on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly owned operating subsidiary, Paradigm Convergence Technologies Corporation.
Forward-Looking Statements:
This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; the anticipated results of business contracts with regard to revenue; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contact
Michael Iorlano
(760) 621-0062
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www.para-con.com
Twitter: https://mobile.twitter.com/PCTL_
HOUSTON--(BUSINESS WIRE)--#energyexploration--Geospace Technologies Corporation (NASDAQ: GEOS) today announced a $6.9M contract with an international seismic contractor to deliver a significant number of specialized geophones designed for vibration monitoring in rugged environments.
The geophones will be produced in the company’s manufacturing facilities with deliveries expected to begin in May 2022.
“Since 1980, Geospace Technologies has been an innovative force in the oil and gas industry’s global search for energy reserves using active seismic monitoring on land and seabed. Our paradigm-shifting approaches have solved engineering challenges in seismic data acquisition for decades,” said Walter R. Wheeler, President and CEO, Geospace Technologies. “We’re pleased to once again provide our miniature, high-definition geophones as part of a solution offered by a longtime customer.”
Geospace principally designs and manufactures seismic instruments and equipment. The company markets seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. The company also markets seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. Geospace designs and manufactures other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables.
Caroline Kempf, This email address is being protected from spambots. You need JavaScript enabled to view it., 321.341.9305
Report Highlights Energy Transfer’s Renewable Energy Initiatives and Efforts to Reduce its Environmental Footprint
DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE:ET) today announced the availability of its 2020 Corporate Responsibility Report. The report highlights Energy Transfer’s 2020 operational results across its business segments and provides comprehensive coverage of its pipeline safety management programs, risk management, and emissions reduction programs. It also covers Energy Transfer’s renewable energy initiatives and ongoing efforts to reduce its environmental footprint.
The report is available at www.energytransfer.com.
Energy Transfer is one of the largest and most diversified midstream energy companies in North America. Its more than 114,000 miles of natural gas, natural gas liquids, crude oil and refined product pipelines and related facilities span 41 states and Canada, and transport nearly 30 percent of the United States’ natural gas and oil. Energy Transfer’s more than 10,000 employees are committed to staying true to the Partnership‘s core values of ensuring the safety of its people, the safety of its operations and the safety of the communities in which it operates.
About Energy Transfer
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at www.energytransfer.com
Media Relations:
Vicki Granado, Lisa Coleman: 214-840-5820
Investor Relations:
Bill Baerg, Lyndsay Hannah, Brent Ratliff: 214-981-0795
EWING, N.J.--(BUSINESS WIRE)--$OLED #CSR--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, announced today that the Company was named to Newsweek’s list of America's Most Responsible Companies 2022 for the second consecutive year. Universal Display ranked #225 on the 2022 list, which recognizes the top 500 most responsible companies in the United States across fourteen different industry subcategories.
“We are pleased to be ranked for the second year among America’s most responsible companies,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “At the heart of the company are our employees and our unwavering commitment to cultivating and nurturing a global culture that celebrates innovation, collaboration, diversity, and inclusion. Since our founding, we have taken decisive steps to build a culture that empowers our employees and fosters an environment where they can thrive with inventiveness, ingenuity and problem solving. I am proud of the UDC team and their progress and hard work to advance our path forward in building a sustainable and successful future for our company, our customers, our colleagues, and our communities.”
Newsweek partnered with Statista to recognize the top 500 most responsible companies in the United States. America’s Most Responsible Companies were selected based on publicly available key performance indicators derived from CSR Reports, Sustainability Reports, and Corporate Citizenship Reports as well as an independent survey of over 11,000 U.S. residents. The ranking focuses on a holistic view on corporate responsibility that considers the three areas of ESG (environment, social and corporate governance). The analysis was carried out in a 4-phase process, starting with a pool of the 2,000 largest public companies that were screened by different criteria. For more details on the methodology, please visit: https://d.newsweek.com/en/file/462268/americas-most-responsible-companies-2022-methodology.pdf.
For more information about Universal Display Corporation’s corporate social responsibility commitment, please visit https://ir.oled.com/shareholders/Corporate-Responsibility/default.aspx.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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1 ct. RAPI +0.9% in November
LAS VEGAS--(BUSINESS WIRE)--Polished diamond prices rose in November amid steady demand and shortages of larger sizes. Dealers were busy filling US orders for retail jewelers as the holiday season got off to a strong start. The improving Chinese market helped buoy smaller certified goods.
The RapNet Diamond Index (RAPI™) for 1-carat polished diamonds rose 0.9% during the month and was up 14% year on year as of December 1.
| RapNet Diamond Index (RAPI™) | |||
November |
YTD
|
Y2Y
|
|
| RAPI 0.30 ct. | 0.4% |
-2.0% |
-1.6% |
| RAPI 0.50 ct. | 0.5% |
-0.4% |
0.4% |
| RAPI 1 ct. | 0.9% |
11.4% |
14.0% |
| RAPI 3 ct. | 4.8% |
12.9% |
15.8% |
© Copyright 2021 by Rapaport USA Inc.
Jewelry outperformed most product categories at the start of the holiday period. Thanksgiving weekend sales were up 78% compared to last year, according to Mastercard SpendingPulse. Overall e-commerce sales slid 1.4%, reported Adobe, as many consumers started their holiday shopping earlier this year.
The strong retail performance lifted sentiment in the diamond trade. Dealers were looking for inventory to fill ongoing orders and also because they expect the positive momentum to continue into the first half of 2022. However, higher prices made it difficult for dealers to buy and restock at reasonable profit margins.
Polished inventory levels increased as Indian manufacturers shipped large volumes before the Diwali break. The country’s polished exports rose 45% year on year to $2.56 billion in October. While the number of diamonds on RapNet jumped sharply in recent months, the spike consisted mainly of 0.30- to 0.40-carat goods. 1-carat and larger are in short supply.
Rough trading remains robust. Manufacturers are raising production again after Diwali to provide goods for the first quarter, when jewelers typically replenish inventory they’ve sold during the holidays. Rough prices are firm; they have increased approximately 20% so far in 2021, according to Rapaport estimates.
The diamond market is optimistic for the next few months despite concerns about the Covid-19 Omicron variant and the effects of inflation on US consumer spending. The trade begins the final month of the year with the supply-demand dynamic working in its favor.
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Mumbai: Prashant Bhojani +91-97694-66855
DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET) (“ET”) announced today the commencement of an underwritten secondary public offering of 86,956,522 common units representing limited partner interests in ET (“common units”) by CenterPoint Midstream Energy, Inc. (the “Selling Unitholder”), a subsidiary of CenterPoint Energy, Inc. (NYSE: CNP). The Selling Unitholder intends to grant Citigroup, J.P. Morgan and Morgan Stanley, as representatives of the underwriters, a 30-day option to purchase 13,043,478 additional common units from the Selling Unitholder. ET is not selling any common units in the offering and will not receive any proceeds from the sale of common units in the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
Citigroup, J.P. Morgan and Morgan Stanley are acting as the joint book-running managers for the offering. The offering will be made only by means of the prospectus supplement and accompanying base prospectus, which is part of a shelf registration statement that became effective on June 1, 2021, copies of which may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; or Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. An electronic copy of the prospectus supplement and accompanying base prospectus is available from the U.S. Securities and Exchange Commission’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC).
Forward-Looking Statements
Statements about the offering may be forward-looking statements as defined under federal law. Forward-looking statements can be identified by words such as “anticipates,” “believes,” “intends,” “projects,” “plans,” “expects,” “continues,” “estimates,” “goals,” “forecasts,” “may,” “will” and other similar expressions. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of ET, and a variety of risks that could cause results to differ materially from those expected by management of ET. Important information about issues that could cause actual results to differ materially from those expected by management of ET can be found in ET’s public periodic filings with the SEC, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. ET undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
ENERGY TRANSFER
Investor Relations:
Bill Baerg, Brent Ratliff, Lyndsay Hannah, 214.981.0795
or
Media Relations:
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WEST SPRINGFIELD, Mass.--(BUSINESS WIRE)--ESG Clean Energy, LLC, developers of net zero carbon Footprints and clean energy solutions for distributed power generation, announced today it has filed new patent applications focused on the technical methods of the products it can produce.
The new patents specifically cover the processes of generating electric power, capturing carbon dioxide, and producing distilled water or recycled plastic products. ESG Clean Energy is in the final phase of completing its first 4.2-megawatt power generation plant that will be utilizing these particular technologies to provide power to the local grid while producing distilled water with the carbon byproducts. As a result, the carbon capture power generation system achieves a net zero carbon footprint.
“These new patent applications greatly expand the protection of the technological innovations used by ESG,” said Nick Scuderi, president of ESG Clean Energy. “It will also allow us to continue advancing our technology as we develop our first clean, net zero carbon power generation systems.”
The ESG system is truly unique with its ability to create a Net Zero carbon outcome from a conventional, natural gas, internal combustion engine without loss of efficiency.
Exhaust gas contains a significant amount of water vapor and CO2 as naturally occurring byproducts of the combustion process. By separating those two elements, the ESG system can produce distilled water - and other commodities such as urea, methanol, and recycled plastics - while capturing close to 100% of the CO2.
As a result, a Net Zero Carbon Footprint power production can be achieved.
Besides electrical power generation, the ESG system can also be utilized in a number of different environments, including:
Plastics Recycling Operations - Can be made more affordable and safer for the environment by providing low-cost, CO2-free heat that is critical to its processing.
Nitrogen Removal - Can be done more efficiently and cleanly. Nitrogen can cause algae blooms in wastewater treatment plants and is a risk to human health, so its removal has become an emerging, worldwide concern.
Stranded Natural Gas Wells - Can be effectively converted from non-operating revenue producers to operating revenue producers by incorporating the ESG system into its production process.
Microgrids - Can be made more reliable in times of emergency with the distributed power abilities of ESG power generation when regional grids go down.
Data Centers – Can provide large data centers with clean low-cost energy in a relatively small package
Crypto Mining Operations – Can meet the energy demands of crypto mining operations without emitting carbon dioxide into the atmosphere.
For more information about ESG Clean Energy, please visit www.ESGcleanEnergy.com.
About ESG Clean Energy, LLC
ESG Clean Energy, LLC (ESG) develops Net Zero Carbon Footprints and clean energy solutions for businesses and power providers using natural gas. The ESG system utilizes patented, off-the-shelf technology to efficiently produce electricity while capturing and converting 100% of the carbon dioxide and water vapor, which can be used in the production of various commodities, such as distilled water, ethanol, and urea. More information about ESG Clean Energy, its technology, and its current projects can be found at www.ESGcleanEnergy.com.
Bill Wrinn
978-559-1970
NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI), through Gulf Automation Services and Oilfield Supplies LLC, has been awarded a major(1) 10-year framework agreement for wellheads, trees and associated services by the Abu Dhabi National Oil Company (ADNOC).
Under the framework agreement, TechnipFMC will further grow in-country talent and expand existing manufacturing, assembly and test capabilities in Abu Dhabi in order to deliver the Company’s complete portfolio of surface wellheads and trees locally.
Barry Glickman, President, Surface Technologies at TechnipFMC, commented: “This is our largest-ever Surface Technologies contract. It’s founded on the trust built over our multi-decade partnership with ADNOC and our track record of product and digital innovation, execution and continuous improvement. The longevity of the agreement demonstrates ADNOC’s confidence in our ability to comprehensively broaden our capabilities in-country, positioning us to meet ADNOC’s needs now and in the future.”
(1) For TechnipFMC, a “major” contract is over $1 billion. A portion of this award will be inbound in future periods.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
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PASADENA, Calif.--(BUSINESS WIRE)--Materia, Inc., a high-performance structural materials company that has pioneered the development of a Nobel Prize-winning technology for making a new class of polymers, today announced that it has been acquired by ExxonMobil Chemical Company, a division of ExxonMobil Corporation (NYSE: XOM).
This acquisition couples Materia’s Nobel Prize-winning technology with ExxonMobil’s complimentary proprietary processes and world-class manufacturing capabilities to bring these new sustainable structural polymers to greater commercial scale.
Materia has been working since its formation in 1999 on the development and commercialization of a new class of ruthenium catalysts and ROMP chemistry invented by Caltech Professor Robert Grubbs, for which Dr. Grubbs received a Noble Prize in Chemistry in 2005.
“Materia’s flagship polymer family, ProximaTM, draws upon the ROMP catalyst technology to produce hydrocarbon based products with significant performance and sustainability advantages,” said Cliff Post, Materia’s president and CEO, “This technology can be used to form composites that exhibit strength and stiffness equivalent to steel, with significantly reduced weight.”
With initial support from CalTech and private investor capital, Materia has achieved commercial applications in several sectors, including oil & gas and industrial molding applications. In 2016, Materia received a $2 million grant from the Department of Energy to explore the feasibility of molding hydrogen tanks from a Proxima - carbon fiber composite.
Since 2017, ExxonMobil and Materia have been collaborating to research further uses for Proxima under a joint development agreement, including wind blade and anti-corrosion coatings. The technology could enable the manufacture of longer and more durable wind turbine blades for more efficient renewable energy generation. ExxonMobil anticipates expanding the scope of applications for Proxima, including parts for electric vehicles and sustainable construction projects.
“We are excited to begin this new chapter with ExxonMobil in our mission to deliver next-generation materials for a more sustainable world,” said Ray Roberge, chairman of the board of Materia, Inc. “This development marks the culmination of decades of basic science research made possible by Caltech and all of Materia’s shareholders, especially Michael M. Kellen and Andrew S. Gundlach of Bleichroeder LLC, and the Dr. Alfred J. Bader and Joseph Bernstein families. Materia employees are excited to pursue the commercialization of these important technologies.”
The acquisition includes Materia’s extensive portfolio of patents and intellectual property, its headquarters, research and technology center in Pasadena, California and its manufacturing facility in Huntsville, Texas. ExxonMobil intends to operate the business under the Materia company name as a wholly owned subsidiary.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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About Materia
Materia was founded in 1999 to commercialize a group of ruthenium catalyst technologies developed by Nobel Prize winner Dr. Robert Grubbs and his research group at Caltech. In recent years the company has focused on developing ProximaTM polymers with commercial success in subsea pipeline insulation, molding of parts for industrial applications, and various composite applications like composite rebar for concrete reinforcement.
Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including the application of new technologies to new industrial processes, could differ materially due to manufacturing or operating requirements; political or regulatory developments; future technological developments; technical or operating factors; future testing of material properties and applications; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com.
Nicole M. Powe
General Counsel
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Remote go-live represents another successful deployment of Mainsail 10 and fully hosted deployment in the cloud
SEATTLE--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The updated release reads:
PORT LAFITO NOW LIVE WITH TIDEWORKS MAINSAIL 10
Remote go-live represents another successful deployment of Mainsail 10 and fully hosted deployment in the cloud
Today, Tideworks Technology Inc. (Tideworks), a full-service provider of comprehensive terminal operating system (TOS) solutions, announced that Port Lafito, managed by the GB Group has implemented Mainsail 10, Tideworks’ marine terminal operating solution. The go-live of Mainsail 10 at Port Lafito is a fully hosted TOS deployment operating on Amazon Web Services (AWS).
Port Lafito is a modern, premier Panamax container port located in Haiti. The terminal went live with Mainsail 10 in spring 2021, replacing Tideworks Mainsail Vanguard that was previously deployed in 2016. Port Lafito also utilizes Tideworks Forecast® web portal, Spinnaker Planning Management System® and EDI Porter.
“The hosted deployment in AWS will allow us to continue supporting Port Lafito’s terminal operations by providing increased access to real-time data and scalable logistics,” said Ignacio Bilbao García, director of business services, Latin America and Caribbean with Tideworks. “We have cultivated a close relationship with the GB Group throughout the years and this deployment represents further collaboration with the port and our commitment to support the Caribbean supply chain.”
Mainsail 10 is a high-performing TOS that enables seamless integrations with third-party systems and access to inventory tools to increase the flow of cargo through terminals. The marine TOS provides interactive search tools and easy user customization for optimized viewing, sorting and sharing functionalities.
Tideworks’ fully hosted deployment of Mainsail 10 at Port Lafito gives terminal operators access to the benefits of a world-class modern TOS that is optimized by the cloud’s capabilities. This includes a streamlined set up, a cloud-hosted portal that does not require additional hardware, scalable reporting and inventory management. Through the solution, Tideworks also provides automatic software upgrades and remote support.
The TOS provider collaborated with key IT and operations managers from the GB Group and Port Lafito during and after the deployment to tailor the solution and optimize the advantages of hosting the application in the Tideworks Cloud.
“Migrating the TOS to the cloud was one of the key components to our overall hybrid cloud strategy,” said Steve Zirilli, chief information officer with GB Group. “We rely on Tideworks to provide a best-in-class TOS that can be scaled to support consistent growth at the terminal. Events in the supply chain have put additional pressure on our existing systems and process in place. Tideworks' deployment of Mainsail 10 has helped us scale and navigate new complexities. As a result, we’ve seen a surge in growth, and operations at Port Lafito are steady. We’ve been able to leverage on-demand information to make more informed decisions and efficiently manage increased throughput.”
Tideworks provided all associated implementation services including co-project management, software customization, configuration and installation, integration services, user training and go-live assistance that allowed Port Lafito to make sure a smooth operational transition to the latest Tideworks TOS. The company will continue providing ongoing maintenance and support services to GB Group, including 24/7 technical support and software upgrades.
About Tideworks Technology
Tideworks is a full-service provider of comprehensive terminal operating system solutions for growing marine and intermodal terminal operations worldwide. The company helps more than 120 facilities run their operations more efficiently and profitably. From optimized equipment utilization to faster turn times, Tideworks works at every step of terminal operations to maximize productivity and customer service. For more information about Tideworks Technology, a Carrix solution, visit www.tideworks.com.
About GB Group
GB Group is a leading, diversified group of industrial and trading companies in the Caribbean, with operations concentrated in Haiti, Dominican Republic, Jamaica, St. Maarten and Panama and offices in the United States. Comprised of 21 companies from seven different divisions including agriculture, construction, consumer goods, infrastructure, energy, logistics and trading, GB Group collaborates with more than 4,000 employees and embraces managers from more than 15 countries company wide. GB Group and its operating companies have strategic alliances and/or partnerships with some of the world’s top business organizations. The company’s current endeavors include the $200 million Lafito Global project, which includes Port Lafito, Haiti’s first Panamax port and a dry terminal in Port of Prince. For more information about Port Lafito, please visit www.portlafito.com.
AnnMarie Carson
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DUBLIN--(BUSINESS WIRE)--The "Green Hydrogen Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The global green hydrogen market is expected to grow from $0.58 billion in 2020 to $0.78 billion in 2021 at a compound annual growth rate (CAGR) of 33.8%. The market is expected to reach $2.94 billion in 2025 at a CAGR of 39.4%.
The main types of technologies in green hydrogen are alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer. Alkaline electrolyzers work by transporting hydroxide ions from the cathode to the anode through the electrolyte, with hydrogen created on the cathode side. It is used in power generation, transport, others and implemented in various verticals such as petrochemicals, food and beverages, medical, chemical, glass, others.
The green hydrogen market consists of sales of hydrogen-based fuel by entities (organizations, sole traders, and partnerships) that are produced from electrolyzing water by using electricity. Green hydrogen gas is created by dividing water into hydrogen and oxygen using an electrolyzer that can be powered by renewable energy sources. Green hydrogen is environmentally friendly and can be stored and converted back to energy or heat when required.
Europe was the largest region in the green hydrogen market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing environmental concerns are expected to propel the growth of the green hydrogen market in the forecast period. Green hydrogen is a hydrogen-based fuel that is made by electrolyzing water with electricity supplied from low-carbon sources. It will help in reducing carbon emissions and provide care to our planet.
For instance, International Energy Agency (IEA) aims to bring global energy-related carbon dioxide emissions to net-zero by 2050. Fossil fuels are one of the main contributors to poor air quality and they account for 80% of all the energy worldwide. Additionally, IEA estimates that by 2050 around 1.77 million premature deaths will occur due to indoor air pollution, and around 4.97 million premature deaths will occur due to outdoor air pollution.
According to World Health Organization, an estimated 4.2 to 7 million people die from air pollution worldwide every year, and nine out of ten people breathe air that contains high levels of pollutants. Therefore, increasing environmental concerns drive the growth of the green hydrogen market.
Scaling up of technologies is an emerging trend in the green hydrogen market. Advanced analytics is used in the green hydrogen market, it can transform data into business intelligence with actionable insights. Analytics can provide corrective action recommendations to maximize yields for green hydrogen, churning, and learning through data from plants, tanks, and pipes.
By forecasting the failures, energy losses can also be prevented. Kaiserwetter is one such company that is using analytics to address several green hydrogen challenges. Analytics can also be useful in providing blockchain solutions that can help in green hydrogen tracking.
For instance, in February 2021, Acciona, a Spanish firm that develops and manages infrastructure and renewable energy, has developed GreenH2chain, a blockchain-based platform that allows clients from all over the world to verify and visualize the complete green hydrogen value chain in real-time.
Key Topics Covered:
1. Executive Summary
2. Green Hydrogen Market Characteristics
3. Green Hydrogen Market Trends and Strategies
4. Impact Of COVID-19 On Green Hydrogen
5. Green Hydrogen Market Size and Growth
5.1. Global Green Hydrogen Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Green Hydrogen Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Green Hydrogen Market Segmentation
6.1. Global Green Hydrogen Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Green Hydrogen Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Green Hydrogen Market, Segmentation by End-Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Green Hydrogen Market Regional and Country Analysis
7.1. Global Green Hydrogen Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Green Hydrogen Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/oq58gn
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ALEXANDRIA, Va.--(BUSINESS WIRE)--VSE Corporation (NASDAQ: VSEC), a leading provider of aftermarket distribution and maintenance, repair and overhaul (MRO) services for land, sea and air transportation assets supporting government and commercial markets, announced that the Company's Board of Directors has declared a regular quarterly cash dividend of $0.10 per share of VSE common stock, an increase of 11% per share. The dividend is payable on February 9, 2022 to stockholders of record at the close of business on January 26, 2022.
ABOUT VSE CORPORATION
VSE is a leading provider of aftermarket distribution and repair services for land, sea and air transportation assets supporting government and commercial markets. Core services include maintenance, repair and overhaul (MRO) services, parts distribution, supply chain management and logistics, engineering support, and consulting and training services for global commercial, federal, military and defense customers. VSE also provides information technology and energy consulting services. For additional information regarding VSE’s products and services, visit www.vsecorp.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause VSE’s actual results to vary materially from those indicated or anticipated by such statements. Many factors could cause actual results and performance to be materially different from any future results or performance, including, among others, the risk factors described in our reports filed or expected to be filed with the SEC. Any forward-looking statement or statement of belief speaks only as of the date of this press release. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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MONTERREY, Mexico--(BUSINESS WIRE)--$CEMEX #CEMEX--CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for tackling climate change. The company was recognized for its actions to cut emissions, mitigate climate risks and lead in the transition to a low-carbon economy.
CEMEX is one of approximately 200 companies to receive this distinction out of nearly 12,000 firms scored by CDP. According to CDP, CEMEX is leading on corporate environmental ambition, action, and transparency worldwide through significant demonstrable action on climate.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over US$110 trillion in assets and 200 major purchasers with US$5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks, and opportunities through CDP’s platform.
Under its Future in Action program, CEMEX announced a climate action target of reducing 40% its CO2 emissions by 2030. The company´s clean electricity consumption will also increase from the current 29% to 55% by 2030. These goals are the most ambitious in the cement industry and align with the well-below 2°C scenario. These intermediate goals will enable the company to fulfill its 2050 goal of being net-zero carbon in concrete.
“We are pleased with CDP´s recognition of our decarbonization efforts and ambition and happy to join this elite group of climate action leaders,” said Fernando A. Gonzalez, CEO of CEMEX. “We commit to continue leading the industry in climate action, not only because it creates value, but more importantly because it is the right thing to do. CEMEX is building a better future, and that future must be sustainable.”
“Many congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC’s Sixth Assessment Report,” said Paul Simpson, CEO of CDP. “The scale of the risk to businesses from climate change, water insecurity and deforestation can no longer be ignored, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature positive and equitable world. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”
The full list of companies that made this year’s CDP A List is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores
About CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 590 investors with over $110 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 14,000 organizations around the world disclosed data through CDP in 2021, including more than 13,000 companies worth over 64% of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.
About CEMEX
CEMEX is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: cemex.com
CEMEX assumes no obligation to update or correct the information contained in this press release. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s expectations. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.
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Continued Expansion of Differentiated U.S. Energy Strategy Combining Investor Mindset and Deep Operational Expertise
HOUSTON--(BUSINESS WIRE)--$CRGY--Crescent Energy Company ("Crescent" or the "Company") (NYSE: CRGY) today announced the successful completion of the combination of Independence Energy LLC ("Independence") and Contango Oil & Gas Company ("Contango"), creating a premier, diversified and well-capitalized U.S. energy company focused on consolidation. Crescent's Class A common stock will trade on the New York Stock Exchange under the ticker symbol "CRGY" at the open of trading on December 8, 2021, and as previously announced, each eligible share of Contango common stock issued and outstanding immediately prior to the effective time of the transaction will be exchanged for 0.2000 shares of Crescent Class A Common Stock.
Crescent’s investment approach will build on a long track record of prioritizing cash flow through financial discipline and risk management, focused on delivering attractive risk-adjusted investment returns and predictable cash flows across cycles. Crescent had production of approximately 119 MBoe/d on a pro forma basis in the second quarter of 2021 from a diverse set of attractive assets across the lower 48 states, providing a stable platform from which to grow the business.
John Goff, Chairman of Crescent, said, "We appreciate the strong support for this transaction from the Contango shareholders, which we view as further affirmation of the significant benefits it will deliver. The combined expertise of the Contango and KKR teams along with a much greater scale affords us the ability to continue to take advantage of industry consolidation."
David Rockecharlie, Chief Executive Officer of Crescent, said, “We believe the current market environment provides opportunity to significantly grow Crescent and create meaningful shareholder value by executing our differentiated strategy focused on cash flow, risk management and investment returns.”
With the transaction now closed, Crescent is positioned to continue its demonstrated strategy of:
Crescent Senior Leadership Team and Board of Directors
As previously announced, the combined business will be managed by KKR’s Energy Real Assets team and led by David Rockecharlie, Head of KKR Energy Real Assets, who will serve as Chief Executive Officer and as a member of the Board of Directors.
John Goff will be Chairman of the Board of Directors, which is composed of nine members, five from legacy Independence, three from legacy Contango and one non-legacy representative.
New Corporate Website & Investor Presentation
In connection with the formation of Crescent, the company has launched a new corporate website. Additional details about the company can now be found at www.crescentenergyco.com, along with updated presentation materials posted today.
Further details regarding the transactions can be found in the report on Form 8-K that Crescent will file with the Securities and Exchange Commission.
Share Exchange
In accordance with the terms of the merger agreement, each eligible share of Contango common stock issued and outstanding immediately prior to the effective time of the transaction will be exchanged for 0.2000 shares of Crescent Class A Common Stock.
Additional information regarding the exchange of Contango common stock for merger consideration was mailed to registered holders of Contango common stock.
With the completion of the transaction, as of today, Contango common stock will no longer be listed for trading.
Crescent Energy
Crescent Energy is a diversified, well capitalized, U.S. independent energy company with a portfolio of assets in key proven basins across the lower 48 states. Our core leadership team is a group of experienced investment, financial and industry professionals who continue to execute on the strategy we have employed since 2011. The Company’s mission is to invest in energy assets and deliver better returns, operations and stewardship. For additional information, please visit Crescent Energy’s website at www.crescentenergyco.com.
Cautionary Statement Regarding Forward-Looking Information
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases “should”, “could”, “may”, “will”, “believe”, “plan”, “intend”, “expect”, “potential”, “possible”, “anticipate”, “estimate”, “forecast”, “view”, “efforts”, “goal” and similar expressions identify forward-looking statements and express Crescent’s expectations about future events. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that Crescent expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Crescent’s control. Consequently, actual future results could differ materially from Crescent’s expectations due to a number of factors, including, but not limited to the risk that the business of the combined company will not be integrated successfully; the risk that cost savings, synergies and growth may not be fully realized or may take longer to realize than expected; the effect of future regulatory or legislative actions on Crescent or the industry in which it operates; volatility and significant declines in oil, natural gas and natural gas liquids prices, including regional differentials; the impact of the COVID-19 pandemic, including reduced demand for oil and natural gas, economic slowdown, governmental and societal actions taken in response to the COVID-19 pandemic, stay-at-home orders, and interruptions to operations; the impact of the climate change initiative by President Biden’s administration and Congress; Crescent’s financial position; the potential impact of derivative instruments; Crescent’s business strategy, including its ability to successfully execute on its consolidation strategy or make any desired changes in its strategy from time to time; meeting forecasts and budgets; expectations regarding oil and natural gas markets in the United States and realized prices; the ability of the members of the Organization of Petroleum Exporting Countries and other oil exporting nations to agree to, adhere to and maintain oil price and production controls; outbreaks and pandemics, even outside Crescent’s areas of operation, including COVID-19; operational constraints, start-up delays and production shut-ins at both operated and non-operated production platforms, pipelines and natural gas processing facilities; Crescent’s ability to successfully develop its undeveloped acreage and realize the benefits associated therewith; the risks associated with exploration, including cost overruns and the drilling of non-economic wells or dry holes; Crescent’s ability to generate sufficient cash flow from operations, borrowings or other sources to enable it to fund its operations, satisfy its obligations, fund its drilling program and support its acquisition efforts; the cost and availability of rigs and other materials, services and operating equipment; the conditions of the capital markets and Crescent’s ability to access debt and equity capital markets or other non-bank sources of financing; interest rate volatility; Crescent’s ability to complete strategic dispositions or acquisitions of assets or businesses and realize the benefits of such dispositions or acquisitions; uncertainties in the estimation of proved reserves and in the projection of future rates of production and timing of development expenditures; the need to take impairments on properties due to lower commodity prices or other changes in the values of assets; actions or inactions of third-party operators of pipelines or processing facilities; the ability to retain key members of senior management and key technical employees and to find and retain skilled personnel; and the limited trading volume of Crescent’s Class A common stock and general market volatility.
Many of these risks, uncertainties and assumptions are beyond Crescent’s ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Crescent does not give any assurance (1) that it will achieve its expectations, or (2) concerning any result or the timing thereof, in each case, with respect to any regulatory action, administrative proceedings, government investigations, litigation, warning letters, consent decree, cost reductions, business strategies, earnings or revenue trends or future financial results. All subsequent written and oral forward-looking statements concerning Crescent or other matters and attributable to Crescent or any person acting on its respective behalf are expressly qualified in their entirety by the cautionary statements above. Crescent assumes no duty to update or revise their respective forward-looking statements based on new information, future events or otherwise.
Emily Newport, This email address is being protected from spambots. You need JavaScript enabled to view it.
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