DUBLIN--(BUSINESS WIRE)--The "India Midstream Oil and Gas Industry Outlook to 2025" report has been added to ResearchAndMarkets.com's offering.
India Midstream Oil and Gas Industry Outlook to 2025 - Market Outlook for Liquefied Natural Gas (LNG), Liquids Storage, Pipelines and Gas Processing is a comprehensive report on midstream oil and gas industry in India. The report provides details such as name, type, operational status and operator for all active and planned (new build) LNG terminals, liquids storage terminals major trunk pipelines and gas processing plants in India till 2025. Further, the report also offers recent developments, financial deals as well as latest contracts awarded in the country's midstream sector, wherever available.
Scope
Reasons to Buy
Key Topics Covered:
1. Tables & Figures
2. Introduction
2.1. What is This Report About?
2.2. Market Definition
3. India LNG Industry
3.1. India LNG Industry, Regasification
3.1.1. India LNG Industry, Regasification, Key Data
3.2. India LNG Industry, Regasification, Overview
3.2.1. India LNG Industry, Total Regasification Capacity
3.3. India LNG Industry, Regasification Capacity by Major Companies
3.4. India LNG Industry, Regasification Capacity by Terminal
3.5. India LNG Industry, Regasification Asset Details
3.5.1. India LNG Industry, Regasification Active Asset Details
3.5.2. India LNG Industry, Regasification Planned Asset Details
4. India Oil Storage Industry
4.1. India Oil Storage Industry, Key Data
4.2. India Oil Storage Industry, Overview
4.3. India Oil Storage Industry, Storage Operations
4.3.1. India Oil Storage Industry, Total Storage Capacity
4.3.2. India Oil Storage Industry, Storage Capacity Share by Area
4.4. India Oil Storage Industry, Storage Capacity by Major Companies
4.5. India Oil Storage Industry, Storage Capacity by Terminal
4.6. India Oil Storage Industry, Asset Details
4.6.1. India Oil Storage Industry, Active Asset Details
4.6.2. India Oil Storage Industry, Planned Asset Details
5. India Oil and Gas Pipelines Industry
5.1. India Oil Pipelines
5.1.1. India Oil Pipelines, Key Data
5.2. India Oil Pipelines, Overview
5.3. India Oil and Gas Pipelines Industry, Crude Oil Pipeline Length by Major Companies
5.4. India Oil and Gas Pipelines Industry, Crude Oil Pipelines
5.5. India Oil and Gas Pipelines Industry, Petroleum Products Pipeline Length by Major Companies
5.6. India Oil and Gas Pipelines Industry, Petroleum Products Pipelines
5.7. India Oil and Gas Pipelines Industry, NGL Pipeline Length by Company
5.8. India Oil and Gas Pipelines Industry, NGL Pipelines
5.9. India Oil and Gas Pipelines Industry, Oil Pipelines Asset Details
5.9.1. India Oil and Gas Pipelines Industry, Oil Pipelines Active Asset Details
5.9.2. India Oil and Gas Pipelines Industry, Oil Pipelines Planned Asset Details
5.10. India Gas Pipelines
5.10.1. India Gas Pipelines, Key Data
5.10.2. India Gas Pipelines, Overview
5.11. India Oil and Gas Pipelines Industry, Natural Gas Pipeline Length by Major Companies
5.12. India Oil and Gas Pipelines Industry, Natural Gas Pipelines
5.13. India Oil and Gas Pipelines Industry, Gas Pipelines Asset Details
5.13.1. India Oil and Gas Pipelines Industry, Gas Pipelines Active Asset Details
5.13.2. India Oil and Gas Pipelines Industry, Gas Pipelines Planned Asset Details
6. India Gas Processing Industry
6.1. India Gas Processing Industry, Key Data
6.2. India Gas Processing Industry, Overview
6.3. India Gas Processing Industry, Gas Processing Capacity by Major Companies
6.4. India Gas Processing Industry, Processing Plant Number by Facility Type
6.5. India, Gas Processing Industry, Capacity Contribution of Various Provinces
6.6. India Gas Processing Industry, Active Gas Processing Capacity
6.7. India Gas Processing Industry, Planned Gas Processing Capacity
6.8. India Gas Processing Industry, Asset Details
6.8.1. India Gas Processing Industry, Active Asset Details
6.8.2. India Gas Processing Industry, Planned Asset Details
7. Recent Contracts
7.1. Detailed Contract Summary
7.1.1. Awarded Contracts
8. Financial Deals Landscape
8.1. Detailed Deal Summary
8.1.1. Acquisition
8.1.2. Debt Offerings
8.1.3. Asset Transactions
9. Recent Developments
9.1. Other Significant Developments
9.2. New Contracts Announcements
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ddwg7f
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LONDON--(BUSINESS WIRE)--#DieselGensetsMarketinGCCCountries--Technavio has been monitoring the diesel gensets market in GCC countries and it is poised to grow by $ 106.99 mn during 2021-2025, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have at Par impact on the diesel gensets market in GCC countries. The market growth in 2021 is likely to Increase compared to the market growth in 2019.
Frequently Asked Questions:
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Atlas Copco AB, Caterpillar Inc., Cummins Inc., J C Bamford Excavators Ltd., Kirloskar Oil Engines Ltd., Mahindra & Mahindra Ltd., Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc, Wartsila Corp., and Yanmar Holdings Co. Ltd. are some of the major market participants. The low operational costs will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this diesel gensets market in GCC countries forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Diesel Gensets Market in GCC Countries 2021-2025: Segmentation
Diesel Gensets Market in GCC Countries is segmented as below:
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR46680
Diesel Gensets Market in GCC Countries 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The diesel gensets market in GCC countries report covers the following areas:
This study identifies power blackouts due to natural disasters as one of the prime reasons driving the diesel gensets market in GCC countries growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Diesel Gensets Market in GCC Countries 2021-2025: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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DUBLIN--(BUSINESS WIRE)--The "South Africa Midstream Oil and Gas Industry Outlook to 2025" report has been added to ResearchAndMarkets.com's offering.
South Africa Midstream Oil and Gas Industry Outlook to 2025 - Market Outlook for Liquids Storage, Pipelines and Gas Processing is a comprehensive report on midstream oil and gas industry in South Africa.
The report provides details such as name, type, operational status and operator for all active and planned (new build) liquids storage terminals major trunk pipelines and gas processing plants in South Africa till 2025. Further, the report also offers recent developments, financial deals as well as latest contracts awarded in the country's midstream sector, wherever available.
Scope
Reasons to Buy
Key Topics Covered:
1. Table of Contents
1.1. List of Tables
1.2. List of Figures
2. Introduction
2.1. What is This Report About?
2.2. Market Definition
3. South Africa Oil Storage Industry
3.1. South Africa Oil Storage Industry, Key Data
3.2. South Africa Oil Storage Industry, Overview
3.3. South Africa Oil Storage Industry, Storage Operations
3.3.1. South Africa Oil Storage Industry, Total Storage Capacity
3.3.2. South Africa Oil Storage Industry, Storage Capacity Share by Area
3.4. South Africa Oil Storage Industry, Storage Capacity by Major Companies
3.5. South Africa Oil Storage Industry, Storage Capacity by Terminal
3.6. South Africa Oil Storage Industry, Asset Details
3.6.1. South Africa Oil Storage Industry, Active Asset Details
3.6.2. South Africa Oil Storage Industry, Planned Asset Details
4. South Africa Oil and Gas Pipelines Industry
4.1. South Africa Oil Pipelines
4.1.1. South Africa Oil Pipelines, Key Data
4.2. South Africa Oil Pipelines, Overview
4.3. South Africa Oil and Gas Pipelines Industry, Crude Oil Pipeline Length by Company
4.4. South Africa Oil and Gas Pipelines Industry, Crude Oil Pipelines
4.5. South Africa Oil and Gas Pipelines Industry, Petroleum Products Pipeline Length by Company
4.6. South Africa Oil and Gas Pipelines Industry, Petroleum Products Pipelines
4.7. South Africa Oil and Gas Pipelines Industry, Oil Pipelines Asset Details
4.7.1. South Africa Oil and Gas Pipelines Industry, Oil Pipelines Active Asset Details
4.7.2. South Africa Oil and Gas Pipelines Industry, Oil Pipelines Planned Asset Details
4.8. South Africa Gas Pipelines, Key Data
4.9. South Africa Gas Pipelines, Overview
4.10. South Africa Oil and Gas Pipelines Industry, Natural Gas Pipeline Length by Major Companies
4.11. South Africa Oil and Gas Pipelines Industry, Natural Gas Pipelines
4.12. South Africa Oil and Gas Pipelines Industry, Gas Pipelines Asset Details
4.12.1. South Africa Oil and Gas Pipelines Industry, Gas Pipelines Active Asset Details
4.12.2. South Africa Oil and Gas Pipelines Industry, Gas Pipelines Planned Asset Details
5. South Africa Gas Processing Industry
5.1. South Africa Gas Processing Industry, Overview
5.2. South Africa Gas Processing Industry, Planned Gas Processing Capacity
5.3. South Africa Gas Processing Industry, Asset Details
5.5.1. South Africa Gas Processing Industry, Planned Asset Details
6. Recent Contracts
6.1. Awarded Contracts
6.1.1. Clough's CMR Marine Secures Contract From Sunrise Energy
6.1.2. Chemtoll Secures Contract From Petroleum, Oil and Gas Corporation of South Africa (SOC)
6.1.3. Massive Quantum and Silver Solution Valves Secures Contract From Petroleum, Oil and Gas Corporation of South Africa (SOC)
7. Financial Deals Landscape
7.1. Detailed Deal Summary
7.1.1. Acquisition
7.1.2. Equity Offerings
7.1.3. Debt Offerings
7.1.4. Partnerships
8. Recent Developments
8.1. Other Significant Developments
9. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/i5xlw0
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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PG&E Has Restored Approximately 98 Percent of Wind-Related Outages
PG&E Maintains Community Resource Centers in Hardest-Hit Areas
New Weather System on Track to Bring Unsettled Conditions to Service Area Beginning Sunday, with Heavy Rains, Gusty Winds and Snow at Lower Elevations
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) crews have restored nearly all customers who lost electricity following a powerful windstorm that raked the company’s service area Monday through Wednesday.
By mid-day Friday, approximately 98 percent of the nearly 400,000 customers who lost power during the windstorm had had their power restored. This includes the customers affected by a small, targeted Public Safety Power Shutoff in the southern part of PG&E’s service area that began Monday night and lasted through Wednesday morning.
Even as the company works safely and as quickly as possible to restore around 8,500 customers who remain without power in especially hard-hit communities in the Sierra Foothills and Santa Cruz Mountains, PG&E meteorologists are monitoring a winter system that could bring wet and stormy weather to the service area beginning Sunday and lasting through next week.
“The year is off to an active start on the weather front, and we stand ready as a One PG&E team to respond safely and as quickly as possible to extreme conditions,” said Sumeet Singh, PG&E’s interim president. “We are tremendously grateful to our customers for their patience as we continue to work to restore power in areas significantly affected by intense winds. The safety of our customers and the communities we serve is our most important responsibility, and we are tracking incoming weather to mobilize fresh crews and additional resources to respond to this potential winter storm system.”
Restoration continues
PG&E crews continue to inspect and repair power lines in the Santa Cruz Mountains and in the Sierra foothills in portions of Mariposa and Madera counties. Wind gusts were recorded as high as 80 mph in the Santa Cruz Mountains and more than 60 mph in the Sierra foothills, and in both of these locations, winds toppled trees, power lines, utility poles and other debris earlier in the week.
Due to access issues on local roads and the amount of damage to PG&E’s electrical infrastructure, PG&E customers in these areas may experience outages through the weekend.
To support customers without power, PG&E opened Customer Resource Centers. The CRCs will remain open today as restoration continues. For more information, visit www.pge.com/crc.
PG&E updates estimated restoration times at pgealerts.alerts.pge.com/outages/map/, so customers can get a better sense of when power will be restored to their address.
Winter weather ahead
PG&E’s meteorology team forecasts a relatively cold and strong weather system will move through the company’s service area late Sunday into Tuesday, delivering breezy to gusty winds, widespread rain and mountain snows dropping at elevations as low as 2,000 to 3,000 feet.
A second weather system with a broad trough of moisture could affect the service area beginning Tuesday, bringing moderate to heavy rain and gusty winds. Forecasts show colder and unsettled weather with a chance of rain and mountain snow potentially continuing through next week.
PG&E’s 7 Day Public Safety Power Shutoff Potential forecast does not currently indicate the need for PSPS events related to this incoming system, but weather conditions can change quickly. We remind our customers to have an emergency plan, and to provide PG&E with up-to-date contact information.
Storm safety tips
You can find additional tips at pge.com/beprepared.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
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415-973-5930
DUBLIN--(BUSINESS WIRE)--The "Solar Photovoltaic Glass Market 2019-2024: Trends, Forecast, and Opportunity Analysis" report has been added to ResearchAndMarkets.com's offering.
The global solar photovoltaic glass market is expected to grow with a CAGR of 33% from 2019 to 2024.
The future of the solar photovoltaic glass market looks promising with opportunities in the utility, residential, and non-residential applications. The major drivers for this market are growing awareness about generating reliable and clean energy, up gradation of existing buildings infrastructure and increasing favorable policy support from the government.
More than 150 page report is developed to help your business decisions. To learn the scope of, benefits, companies researched, and other details of the Solar photovoltaic glass market report then read this report. The study includes the Solar photovoltaic glass market size and forecast for the global Solar photovoltaic glass market through 2024 is segmented by application, type, end use, and region.
Some of the Solar photovoltaic glass companies profiled in this report include AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Borosil Glass Works Ltd., Henan Huamei Cinda Industrial Co., Ltd., Guangfeng Solar Glass Co., Ltd., Flat Glass Co., Ltd., Interfloat Corporation, Guangdong Golden Glass Technologies, Hecker Glastechnik GmbH & Co. KG, F solar GmbH, Emmvee Toughened Glass Private Limited, and Euroglas, and others.
Some of the features of Global Solar Photovoltaic Glass Market 2019-2024: Trends, Forecast, and Opportunity Analysis include:
This report answers the following 11 key questions:
Key Topics Covered:
1. Executive Summary
2. Industry Background and Classifications
2.1: Introduction, Background, and Classification
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2013 to 2024:
3.1: Macroeconomic Trends and Forecast
3.2: Global Solar Photovoltaic Glass Market: Trends and Forecast
3.3: Global Solar Photovoltaic Glass Market By Type:
3.3.1: AR Coated
3.3.2: Tempered
3.3.3: TCO
3.3.4: Others
3.4: Global Solar Photovoltaic Glass Market By Application:
3.4.1: Utility
3.4.2: Residential
3.4.3: Non-Residential
3.5: Global Solar Photovoltaic Glass Market By End Use Industry:
3.5.1: Crystalline Silicon PV Modules
3.5.2: Thin Film PV Modules
4. Market Trends and Forecast Analysis by Region:
4.1: Global Solar Photovoltaic Glass Market by Region
4.2: North American Solar Photovoltaic Glass Market
4.3: European Solar Photovoltaic Glass Market
4.4: APAC Solar Photovoltaic Glass Market
4.5: ROW Solar Photovoltaic Glass Market
5. Competitor Analysis:
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for Global Solar Photovoltaic Glass Market by Type
6.1.2: Growth Opportunities for Global Solar Photovoltaic Glass Market by End Use Industry
6.1.3: Growth Opportunities for Global Solar Photovoltaic Glass Market by Application
6.1.4: Growth Opportunities for Global Solar Photovoltaic Glass Market by Region
6.2: Emerging Trends in Global Solar Photovoltaic Glass Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of Global Solar Photovoltaic Glass Market
6.3.3: Mergers, Acquisitions and Joint Ventures in the Global Market
7. Company Profiles of Leading Players:
For more information about this report visit https://www.researchandmarkets.com/r/ojb5gs.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Cabot Oil & Gas Corporation (NYSE: COG).
On February 22, 2016 the Company disclosed in its 10-K report that it had received a “proposed Consent Order and Agreement from the Pennsylvania Department of Environmental Protection (PaDEP) relating to gas migration allegations in an area surrounding several wells owned and operated by us in Susquehanna County, Pennsylvania.”
Then, on February 27, 2017, the Company disclosed that it had “entered into a Consent Order and Agreement with the PaDEP on December 30, 2016” and agreed to pay a “civil monetary penalty in the amount of approximately $0.3 million and . . . additional monitoring will be required to ensure the source of methane has been remediated.”
Finally, on June 15, 2020, the Pennsylvania Attorney General announced fifteen criminal counts against the Company, including nine felonies, following recommendations from a grand jury investigation that noted the Company’s “long-term indifference” to pollution damage to water supplies caused by its faulty gas wells.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether Cabot’s officers and/or directors breached their fiduciary duties to Cabot’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Cabot shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (This email address is being protected from spambots. You need JavaScript enabled to view it.), or visit https://www.ksfcounsel.com/cases/nyse-cog/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
This email address is being protected from spambots. You need JavaScript enabled to view it.
1-877-515-1850
ACCS signs 55-year ground lease with State of Alaska for new, runway-adjacent, 32.5-million-cubic-foot cold storage development at ANC
ANCHORAGE, Alaska--(BUSINESS WIRE)--Alaska Cargo and Cold Storage, LLC (ACCS) and the State of Alaska executed a 55-year lease agreement at Ted Stevens Anchorage International Airport (ANC), marking a major milestone in the development of a more than 700,000-square-foot, climate-controlled warehouse facility. With 32.5 million cubic feet of capacity, the facility will provide ANC with a critical piece of infrastructure at the world’s sixth-busiest cargo airport.
“This project will improve shipping to and through Anchorage, create jobs, and show the world that Alaska is open for business,” said Alaska Gov. Mike Dunleavy. “We’re excited about the potential this integral piece of the global cold chain has to make Ted Stevens Anchorage International Airport and Alaska a more attractive place for global companies to do business.”
ACCS is a joint venture of industrialist Chad Brownstein and McKinley Capital Management, LLC (McKinley Capital), which is led by Rob Gillam. Brownstein is the founder of Rocky Mountain Resources which has aggregated an industrial complex throughout the Mountain West. Gillam is the chief executive officer and chief investment officer at McKinley Capital.
Located on the Great Circle Route, ANC is within 9.5 hours of 90% of key markets in Asia, Europe and North America. Illustrating this importance, during COVID-19 air travel disruptions, ANC was the busiest airport in the world on select days in 2020. Historically, a limited supply of warehouse and transfer facilities at ANC designates ANC’s air cargo support as “gas-and-go.” Brownstein and Gillam say the development of ACCS — located runway-adjacent and within a Foreign Trade Zone — will position ANC to be transformed into a key cold chain transfer hub for global air cargo carriers.
“We believe Alaska offers world-class development and investment opportunities,” said Gillam. “ACCS is a clear instance. There are many industries that require cold storage. One example is Alaska seafood, one of Alaska’s biggest exports, and it’s shipped globally. For decades, almost no value-added or fresh production occurred in-state. ACCS will lead the way in changing that trend. Now, Alaska can capitalize on its valuable position as a hub between North America and Asia. We see this project as something with potential to increase air cargo traffic and spur local economic development. We’re confident ACCS will ultimately bring more dollars and jobs into Anchorage and across the state.”
“The addition of this facility with cold storage capabilities brings new opportunity for the global distribution tenants and customers already benefitting from the unique features of the Anchorage trade and tariff exemptions,” said Brownstein. “The facility will serve as the cold storage gateway between the Americas, Asia, and Europe, and further integrate Alaska into the global cold chain.”
“Cargo carriers and their industry partners are recognizing the advantages of operating at ANC. ACCS’s new facility will strengthen our already powerful cargo network,” said Airport Director Jim Szczesniak. “ANC offers daily, nonstop freighter service to more than 30 destinations and near daily service to an additional 20. This facility will allow perishables to be consolidated from North America and Latin America and then distributed to freighters bringing perishables closer to the consumer. Cutting the time from field or sea to the consumer will provide a better product.”
In September 2020, the U.S. Department of Transportation awarded the Alaska Energy Authority (AEA), a $21 million BUILD grant to administer in support of the ACCS project.
“It’s incredible to be a part of this project that has the potential to improve Alaska’s position on the global supply chain,” said AEA Executive Director Curtis W. Thayer. “Our partnership with the ACCS team enables AEA to deploy its expertise to assure that the best of cutting-edge technology will make the building a showpiece in energy-efficiency.”
The facility will be constructed in phases. The first phase will be roughly 190,000 square feet with plans to begin construction in the second half of 2021. When fully completed, the facility will offer cold and warm storage, quick cargo, and general warehousing options, logistics services, and auxiliary space for tenant offices.
About Alaska Cargo and Cold Storage, LLC
Alaska Cargo and Cold Storage, LLC (ACCS) is a joint venture of industrialist Chad Brownstein and McKinley Capital Management, LLC (McKinley Capital), which is led by Rob Gillam. Brownstein is the founder of Rocky Mountain Resources which has aggregated an industrial complex throughout the Mountain West. Gillam is the chief executive officer and chief investment officer at McKinley Capital. ACCS signed a 55-year ground lease with the State of Alaska to develop a secure, more than 700,000-square-foot and 32.5 million-cubic-foot, climate-controlled warehouse facility at Ted Stevens Anchorage International Airport (ANC).
Jennifer Thompson, 907-242-1152
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LONDON--(BUSINESS WIRE)--#GlobalCrystallineSiliconSolarPVModulesMarket--Technavio has been monitoring the crystalline silicon solar PV modules market and it is poised to grow by $ 46.90 bn during 2021-2025, progressing at a CAGR of almost 19% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Click & Get Free sample report in minutes
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the crystalline silicon solar PV modules market. The market growth in 2021 is likely to Increase compared to the market growth in 2019.
Frequently Asked Questions:
Related Reports on Utilities Include:
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View market snapshot before purchasing
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Canadian Solar Inc., Ja Solar Holdings Co. Ltd., Jiangsu Shunfeng Photovoltaic Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd., Risen Energy Co. Ltd., Suzhou Talesun Solar Technology Co. Ltd., Trina Solar Co. Ltd., Yingli Green Energy Holding Co. Ltd., and Zhejiang CHINT Electrics Co. Ltd. are some of the major market participants. The favorable government regulations will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this crystalline silicon solar PV modules market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Crystalline silicon solar PV modules Market 2021-2025: Segmentation
Crystalline silicon solar PV modules Market is segmented as below:
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR46673
Crystalline silicon solar PV modules Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The crystalline silicon solar PV modules market report covers the following areas:
This study identifies increasing investments in renewable energy as one of the prime reasons driving the crystalline silicon solar PV modules Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Technavio's SUBSCRIPTION platform
Crystalline silicon solar PV modules Market 2021-2025: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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LONDON--(BUSINESS WIRE)--#GlobalAmphibiousLandingCraftMarket--Technavio has been monitoring the amphibious landing craft market and it is poised to grow by $ 483.62 mn during 2021-2025, progressing at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have at Par impact on the amphibious landing craft market. The market growth in 2021 is likely to Increase compared to the market growth in 2019.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Almaz Shipbuilding Co., BAE Systems Plc, Bland Group Ltd., CNH Industrial NV, CNIM SA, Rostec State Corp., Singapore Technologies Engineering Ltd., Textron Inc., Wetland Equipment Co. Inc., and Wilco Manufacturing LLC are some of the major market participants. The upgrade of capabilities to counter emerging threats will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this amphibious landing craft market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Amphibious Landing Craft Market 2021-2025: Segmentation
Amphibious Landing Craft Market is segmented as below:
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Amphibious Landing Craft Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The amphibious landing craft market report covers the following areas:
This study identifies integration of directed-energy weapons (DEWs) as one of the prime reasons driving the amphibious landing craft market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Amphibious Landing Craft Market 2021-2025: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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LONDON--(BUSINESS WIRE)--#GlobalAutomotiveSuspensionSystemLubricantsMarket--Technavio has been monitoring the automotive suspension system lubricants market and it is poised to grow by 8.05 mn gal during 2021-2025, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive suspension system lubricants market. The market growth in 2021 is likely to Increase compared to the market growth in 2019.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. BP Plc, Exxon Mobil Corp., Ferdinand Bilstein GmbH + Co. KG, FUCHS PETROLUB SE, Lucas Oil Products Inc., Millers Oils Ltd., MOTUL SA, Red Line Synthetic Oil, Slickoleum Inc., and Valvoline Inc. are some of the major market participants. The use of MR fluid suspension oils will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive suspension system lubricants market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Automotive Suspension System Lubricants Market 2021-2025: Segmentation
Automotive Suspension System Lubricants Market is segmented as below:
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Automotive Suspension System Lubricants Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive suspension system lubricants market report covers the following areas:
This study identifies increased penetration of "sealed for life" automotive components as one of the prime reasons driving the automotive suspension system lubricants market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Automotive Suspension System Lubricants Market 2021-2025: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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HOUSTON--(BUSINESS WIRE)--Geospace Technologies (NASDAQ: GEOS) today announced that it will release first quarter 2021 financial results on Wednesday, February 3, 2021 after the market closes. In conjunction with the release, Geospace has scheduled a conference call for Thursday, February 4, 2021 at 10:00 a.m. Eastern Time (9:00 a.m. Central).
What: |
Geospace Technologies First Quarter 2021 Conference Call |
When: |
Thursday, February 4, 2021 at 10:00 a.m. Eastern Time (9:00 a.m. Central) |
How: |
Live via phone – U.S. participants can dial toll free (877) 876-9173. International participants can dial (785) 424-1667. Please reference the Geospace Technologies conference ID: GEOSQ121 prior to the start of the conference call. |
For those who cannot listen to the live call, a replay will be available for approximately 60 days and may be accessed through the Investor Relations tab of our website: www.geospace.com.
Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables.
Rick Wheeler
President & CEO
TEL: 713.986.4444
FAX: 713.986.4445
DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Midstream Oil and Gas Industry Outlook to 2025" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Midstream Oil and Gas Industry Outlook to 2025 - Market Outlook for Liquids Storage, Pipelines and Gas Processing is a comprehensive report on midstream oil and gas industry in Saudi Arabia.
The report provides details such as name, type, operational status and operator for all active and planned (new build) liquids storage terminals major trunk pipelines and gas processing plants in Saudi Arabia till 2025. Further, the report also offers recent developments and latest contracts awarded in the country's midstream sector, wherever available.
Scope
Reasons to Buy
Key Topics Covered:
1. Table of Contents
1.1. List of Tables
1.2. List of Figures
2. Introduction
2.1. What is This Report About?
2.2. Market Definition
3. Saudi Arabia Oil Storage Industry
3.1. Saudi Arabia Oil Storage Industry, Key Data
3.2. Saudi Arabia Oil Storage Industry, Overview
3.3. Saudi Arabia Oil Storage Industry, Storage Operations
3.3.1. Saudi Arabia Oil Storage Industry, Total Storage Capacity
3.4. Saudi Arabia Oil Storage Industry, Storage Capacity Share by Area
3.5. Saudi Arabia Oil Storage Industry, Storage Capacity by Major Companies
3.6. Saudi Arabia Oil Storage Industry, Storage Capacity by Terminal
3.7. Saudi Arabia Oil Storage Industry, Asset Details
3.7.1. Saudi Arabia Oil Storage Industry, Active Asset Details
3.7.1. Saudi Arabia Oil Storage Industry, Planned Asset Details
4. Saudi Arabia Oil and Gas Pipelines Industry
4.1. Saudi Arabia Oil Pipelines
4.1.1. Saudi Arabia Oil Pipelines, Key Data
4.1.2. Saudi Arabia Oil Pipelines, Overview
4.2. Saudi Arabia Oil and Gas Pipelines Industry, Crude Oil Pipeline Length by Company
4.3. Saudi Arabia Oil and Gas Pipelines Industry, Crude Oil Pipelines
4.4. Saudi Arabia Oil and Gas Pipelines Industry, Petroleum Products Pipeline Length by Company
4.5. Saudi Arabia Oil and Gas Pipelines Industry, Petroleum Products Pipelines
4.6. Saudi Arabia Oil and Gas Pipelines Industry, NGL Pipeline Length by Company
4.7. Saudi Arabia Oil and Gas Pipelines Industry, NGL Pipelines
4.8. Saudi Arabia Oil and Gas Pipelines Industry, Oil Pipelines Asset Details
4.8.1. Saudi Arabia Oil and Gas Pipelines Industry, Oil Pipelines Active Asset Details
4.8.2. Saudi Arabia Oil and Gas Pipelines Industry, Oil Pipelines Planned Asset Details
4.9. Saudi Arabia Gas Pipelines
4.9.1. Saudi Arabia Gas Pipelines, Key Data
4.9.2. Saudi Arabia Gas Pipelines, Overview
4.10. Saudi Arabia Oil and Gas Pipelines Industry, Natural Gas Pipeline Length by Company
4.11. Saudi Arabia Oil and Gas Pipelines Industry, Natural Gas Pipelines
4.12. Saudi Arabia Oil and Gas Pipelines Industry, Gas Pipelines Asset Details
4.12.1. Saudi Arabia Oil and Gas Pipelines Industry, Gas Pipelines Active Asset Details
4.12.2. Saudi Arabia Oil and Gas Pipelines Industry, Gas Pipelines Planned Asset Details
5. Saudi Arabia Gas Processing Industry
5.1. Saudi Arabia Gas Processing Industry, Key Data
5.2. Saudi Arabia Gas Processing Industry, Overview
5.3. Saudi Arabia Gas Processing Industry, Gas Processing Capacity by Company
5.4. Saudi Arabia Gas Processing Industry, Processing Plant Number by Facility Type
5.5. Saudi Arabia Gas Processing Industry, Capacity Contribution of Various Provinces
5.6. Saudi Arabia Gas Processing Industry, Active Gas Processing Capacity
5.7. Saudi Arabia Gas Processing Industry, Planned Gas Processing Capacity
5.8. Saudi Arabia Gas Processing Industry, Asset Details
5.8.1. Saudi Arabia Gas Processing Industry, Active Asset Details
5.8.2. Saudi Arabia Gas Processing Industry, Planned Asset Details
6. Recent Contracts
6.1. Detailed Contract Summary
6.1.1. Awarded Contracts
7. Recent Developments
7.1. Other Significant Developments
7.2. New Contracts Announcements
8. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/c1013y
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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FREMONT, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, will report financial results for the fourth quarter and the full year ended December 31, 2020 after market close on Tuesday, February 16, 2021. Management will host a conference call at 4:30 P.M. ET on Tuesday, February 16, 2021 to discuss these results.
The call will be available, live, to interested parties by dialing:
United States/Canada Toll Free: |
800-347-6311 |
|
International Toll: |
+1 646-828-8143 |
|
Conference ID: |
3276360 |
A live webcast will also be available in the Investor Relations section of SolarEdge’s website at: http://investors.solaredge.com
A replay of the webcast will be available in the Investor Relations section of the company’s web site approximately two hours after the conclusion of the call and remain available for approximately 30 calendar days.
About SolarEdge
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions. SolarEdge is online at solaredge.com.
Investor Contacts
SolarEdge Technologies, Inc.
Ronen Faier, Chief Financial Officer
+1 510-498-3263
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Sapphire Investor Relations, LLC
Erica Mannion or Michael Funari
+1 617-542-6180
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LONDON--(BUSINESS WIRE)--#GlobalIndustrialThermostaticControlValvesMarket--The new industrial thermostatic control valves market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the industrial thermostatic control valves market.
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"One of the primary growth drivers for this market is the increased implementation of automation in industrial facilities,” says a senior analyst for Industrials at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the industrial thermostatic control valves market size to grow by USD 242.27 million during the period 2021-2025.
Industrial Thermostatic Control Valves Market Segment Highlights for 2020
Regional Analysis
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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HOUSTON--(BUSINESS WIRE)--Noble Midstream Partners LP (NASDAQ: NBLX) (“Noble Midstream” or the “Partnership”) today announced that the Board of Directors of its general partner, Noble Midstream GP LLC, declared a cash distribution of $0.1875 per unit for fourth-quarter 2020.
The fourth-quarter 2020 distribution will be payable on February 12, 2020, to unitholders of record as of February 5, 2020.
About Noble Midstream
Noble Midstream is a master limited partnership originally formed by Noble Energy, Inc. and majority-owned by Chevron Corp. to own, operate, develop and acquire domestic midstream infrastructure assets. Noble Midstream currently provides crude oil, natural gas, and water-related midstream services and owns equity interests in oil pipelines in the DJ Basin in Colorado and the Delaware Basin in Texas. Noble Midstream strives to be the midstream provider and partner of choice for its safe operations, reliability, and strong relationships while enhancing value for all stakeholders. For more information, please visit www.nblmidstream.com.
This release serves as a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) that 100% of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.
Noble Midstream Partners
Park Carrere
Investor Relations
(281) 872-3208
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LOS ANGELES & NEW YORK--(BUSINESS WIRE)--EVgo Services LLC (“EVgo”), the nation’s largest electric vehicle (EV) public fast charging network in the U.S. and a wholly-owned subsidiary of LS Power, and Climate Change Crisis Real Impact I Acquisition Corporation (“Climate Real Impact Solutions” or “CRIS”) (NYSE: CLII) announced today a definitive agreement for a business combination that would result in EVgo becoming a publicly listed company.
EVgo meets CRIS’s stringent investment criteria, which focus on investments in disruptive energy infrastructure opportunities that are strongly aligned with environmental, social and governance principles.
Upon closing of the transaction, the combined company will be named EVgo Inc. and publicly listed under the symbol “EVGO”. The transaction will further elevate EVgo’s position as an industry-leading builder, owner and operator of public EV fast charging in the U.S. by funding and accelerating the company’s growth strategy.
EVgo – Leader in U.S. EV Fast Charging, 100% Powered by Renewable Electricity
Founded in 2010, EVgo is a leader in the transportation electrification space. Through its partnerships with market-leading automakers, fleet and rideshare operators, retail and other site hosts, utilities, governments, and other stakeholders, EVgo has steadily expanded over the last decade to become the largest platform for EV public fast charging in the U.S. As a technology first-mover, EVgo has accelerated the adoption of EVs by providing a reliable and convenient charging experience, close to where drivers live, work and play, for both daily commuters and commercial fleets.
Through its extensive network, powered 100% by renewable electricity, EVgo makes it easier for all U.S. drivers to take advantage of the benefits of driving an electric vehicle and reduce greenhouse gas emissions from the transportation sector.
With more than 800 locations in 67 major metropolitan markets across 34 states, EVgo’s network serves a rapidly expanding customer base that currently exceeds 220,000 customers.
The company has demonstrated significant growth in its utilization and footprint, benefiting from strong partnerships forged with automotive OEMs, site host partners, rideshare providers and other stakeholders in the e-mobility landscape. These include a strategic relationship with General Motors, which selected EVgo for a nationwide EV charging infrastructure buildout, whereby EVgo expects to add more than 2,700 additional fast chargers to its network over the next 5 years. Corporate partners also include Uber and Lyft, which selected EVgo as one of their first charging providers. EVgo has also worked with Tesla, to enable native fast charging on EVgo’s network. Additionally, EVgo partners with governments and utilities across the U.S., enhancing the nation’s infrastructure and supporting job creation.
EVgo’s ongoing ownership of its charging network enables the company to deliver superior customer service, as evidenced by its industry-leading uptime of approximately 98%. Beyond market-leading fast charging capability and reliability, EVgo also has developed a dedicated suite of software-enabled products and services, such as charging reservation capability, smart access to host sites, integrated retail promotions, and loyalty programs. This value-added approach allows EVgo to create a differentiated and holistic offering for its customers while providing the company with additional capital-light revenue streams.
Market Overview – Supportive Fundamentals Driving EV Growth and Adoption
EVgo’s business model is underpinned by over $300 billion in industry-wide automaker and battery manufacturer commitments to electric vehicle programs, trends towards mobility as a service, and industry expectations for the EV market to increase over 100x between 2019 and 2040. Market growth is expected to be driven by both commercial and consumer market segments. Fleet electrification is accelerating due to a lower total cost of EV ownership, regulatory imperatives, and increased focus on ESG alignment. Similarly, consumer adoption is increasing rapidly, supported by the proliferation of affordable electric vehicles, greater choice in EV models, such as SUVs and crossover utility vehicles, and increased awareness of the need to combat climate change through electrifying the transportation sector.
As EV adoption increases, fast charging demand is expected to outpace the already unprecedented growth in EVs in operation, as a result of the proliferation of larger, heavier vehicles, the electrification of fleet and commercial applications, and the changing demographics of EV owners. Fast charging’s share of EV charging is expected to increase to greater than 40% by 2040. However, even at that point, EVs are expected to account for less than a third of all vehicles on U.S. roads, providing a significant pathway for further, multi-decade growth.
Management & Owner Commentary
“Just a few years ago, electric vehicles were considered niche,” remarked Cathy Zoi, Chief Executive Officer of EVgo. “Today, improved technology, lower costs, greater selection, and a better appreciation for the performance of EVs is increasingly making them the vehicle technology of choice. With that, the need for fast charging is on the rise. An estimated 30% of Americans do not have access to at-home charging, and EVs will be increasingly deployed by fleets to transport goods and people in an environmentally-friendly way. Time is precious for all of us, so a public fast charging option with an expanding footprint like EVgo is essential to meet the rapidly growing needs of EV drivers of all types.”
“EVgo is a crown jewel in our portfolio, and is one of the LS Power businesses leading the charge toward decarbonization,” commented David Nanus, LS Power’s Co-Head of Private Equity and EVgo Chairman. “EVgo’s extensive nationwide network and deep relationships with its customers and other stakeholders create a real competitive advantage for the company, and this business combination, which will both fully fund and accelerate the company’s growth plans, positions EVgo to further strengthen its market-leading position.”
“Starting from our IPO in September, we set out looking for a purpose-driven company making a meaningful contribution in the fight against climate change that was best in class in its sector. We are excited to have found that company in EVgo,” said David Crane, Chief Executive Officer of CRIS. “We spent a substantial amount of time conducting extensive due diligence on EVgo, affirming our belief of its enduring first-mover advantage. It has a distinct and highly advantageous owner-operator business model, supported by strategic partnerships with key industry players singularly focused on an essential and growing factor necessary for supporting widespread EV adoption. EVgo’s comprehensive national DC fast charging network capable of charging every type of electric vehicle is unparalleled, and we are proud to be a part of its ongoing success.”
Transaction Overview
The pro forma implied market capitalization of the combined company is $2.6 billion at the $10 per share PIPE subscription price, assuming no CRIS shareholders exercise their redemption rights. Net cash proceeds are estimated to be approximately $575 million, comprised of $400 million from the PIPE and approximately $230 million of cash held in trust by CRIS before any adjustments due to redemptions by CRIS shareholders and payment of deferred underwriting compensation, less transaction expenses.
Proceeds will be used to fuel EVgo’s growth strategy, including the buildout of its charging infrastructure network, and will enhance the company’s position as the market leader in the transition to clean mobility. LS Power and EVgo management, who together own 100% of EVgo today, will be rolling 100% of their equity into the new company, and is estimated to represent approximately 74% of the company upon transaction close.
EVgo’s leadership will remain intact, with Cathy Zoi continuing as Chief Executive Officer of the combined company, overseeing its strategic growth initiatives and expansion. Cathy will work alongside other existing executive team members, including Olga Shevorenkova, Chief Financial Officer, Ivo Steklac, Chief Operating and Chief Technology Officer, and Jonathan Levy, Chief Commercial Officer.
The Board of Directors of the combined company will include representation from EVgo, LS Power and CRIS, as well as independent directors. David Nanus of LS Power will serve as Chairman and will be joined by Cathy Zoi of EVgo and Beth Comstock, Chief Commercial Officer of CRIS; other Board appointments will be made prior to closing.
The transaction has been approved by the EVgo board of directors and the CRIS board of directors. Completion of the proposed transaction is subject to customary closing conditions, including the approval of the stockholders of CRIS, and is expected to occur in the second quarter of 2021.
Advisors
Credit Suisse is serving as lead financial advisor and capital markets advisor to EVgo and also acted as joint lead placement agent on the PIPE. Evercore is also serving as financial advisor and capital markets advisor to EVgo and placement agent on the PIPE. Vinson & Elkins L.L.P. is serving as legal advisor to EVgo.
BofA Securities is serving as exclusive financial advisor to CRIS, and also acted as joint lead placement agent on the PIPE. Mayer Brown LLP is serving as legal advisor to CRIS.
Latham & Watkins L.L.P. is serving as counsel to the placement agents on the PIPE.
Investor Conference Call Information
EVgo, CRIS and LS Power will host a joint investor conference call to discuss the proposed transaction today, Friday, January 22, 2021 at 8:30 AM EST.
To listen to the prepared remarks via telephone, dial 1-877-705-6003 (U.S.) or 1-201-493-6725 (International) and an operator will assist you. A telephone replay will be available at 1-844-512-2921 (U.S.) or 1-412-317-6671 (International), passcode: 13715306 through February 5, 2021 at 11:59 PM EST.
About EVgo
EVgo is the nation’s largest public fast charging network for electric vehicles and the first to be powered by 100% renewable electricity. With more than 800 fast charging locations in 67 major metropolitan markets across 34 states, EVgo owns and operates the most public fast charging locations in the U.S. and serves more than 220,000 customers.
Founded in 2010, EVgo has led the way in transportation electrification, partnering with automakers, fleet and rideshare operators, retail hosts like hotels, shopping centers, gas stations, and parking lot operators, and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for all U.S. drivers to take advantage of the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet. EVgo is owned by LS Power, a New York-headquartered development, investment and operating company focused on leading-edge solutions for the North American power and energy infrastructure sector. For more information, please visit www.evgo.com/
About LS Power
LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, LS Power has developed, constructed, managed or acquired more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects, and has developed more than 660 miles of high voltage electric transmission. Additionally, LS Power actively invests in businesses focused on renewable energy and renewable fuels, as well as distributed energy resource platforms, such as CPower Energy Management and EVgo. Across its efforts, LS Power has raised in excess of $46 billion in debt and equity capital to support North American infrastructure. For more information, please visit www.lspower.com/
About CRIS
CRIS is a special-purpose acquisition company (SPAC) formed to identify and acquire a scalable company making significant contributions to the fight against the climate crisis. CRIS is co-sponsored by private funds affiliated with Pacific Investment Management Company LLC (PIMCO), which has more than $640 billion in sustainability investments across its portfolios. CRIS is led by a seasoned operations and leadership team that has decades of experience at the intersection of climate change and capitalism, and includes veterans from NRG, Credit Suisse, General Electric and Green Mountain Power. For more information, please visit www.climaterealimpactsolutions.com/
Important Information About the Business Combination and Where to Find It
In connection with the proposed business combination, CRIS intends to file preliminary and definitive proxy statements with the Securities and Exchange Commission (“SEC”). The preliminary and definitive proxy statements and other relevant documents will be sent or given to the stockholders of CRIS as of the record date established for voting on the proposed business combination and will contain important information about the proposed business combination and related matters. Stockholders of CRIS and other interested persons are advised to read, when available, the preliminary proxy statement and any amendments thereto and, once available, the definitive proxy statement, in connection with CRIS’s solicitation of proxies for the meeting of stockholders to be held to approve, among other things, the proposed business combination because the proxy statement will contain important information about CRIS, EVgo and the proposed business combination. When available, the definitive proxy statement will be mailed to CRIS’s stockholders as of a record date to be established for voting on the proposed business combination. Stockholders will also be able to obtain copies of the proxy statement, without charge, once available, at the SEC’s website at www.sec.gov/ or by directing a request to: Climate Change Crisis Real Impact I Acquisition Corporation, 300 Carnegie Center, Suite 150 Princeton, NJ 08540, Attention: Secretary, telephone: (212) 847-0360. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
CRIS, EVgo and their respective directors and executive officers may be deemed participants in the solicitation of proxies from CRIS’s stockholders in connection with the business combination. CRIS’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of CRIS in CRIS’s final prospectus filed with the SEC on September 30, 2020 in connection with CRIS’s initial public offering. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to CRIS’s stockholders in connection with the proposed business combination will be set forth in the proxy statement for the proposed business combination when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed business combination will be included in the proxy statement that CRIS intends to file with the SEC.
Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding CRIS’s proposed business combination with EVgo, CRIS’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of CRIS and EVgo and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CRIS or EVgo. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the business combination, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the stockholders of CRIS or EVgo is not obtained; failure to realize the anticipated benefits of business combination; risk relating to the uncertainty of the projected financial information with respect to EVgo; the amount of redemption requests made by CRIS’s stockholders; the overall level of consumer demand for EVgo’s products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of EVgo’s customers; EVgo’s ability to implement its business strategy; changes in governmental regulation, EVgo’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to EVgo’s business, as a result of the COVID-19 pandemic and government actions and restrictive measures implemented in response; stability of EVgo’s suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 pandemic; the impact that global climate change trends may have on EVgo and its suppliers and customers; EVgo’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, CRIS’s information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect CRIS’s or EVgo’s financial results is included from time to time in CRIS’s public reports filed with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K as well as the preliminary and the definitive proxy statements that CRIS intends to file with the SEC in connection with CRIS’s solicitation of proxies for the meeting of stockholders to be held to approve, among other things, the proposed business combination. If any of these risks materialize or CRIS’s or EVgo’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither CRIS nor EVgo presently know, or that CRIS and EVgo currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect CRIS’s and EVgo’s expectations, plans or forecasts of future events and views as of the date of this press release. CRIS and EVgo anticipate that subsequent events and developments will cause their assessments to change. However, while CRIS and EVgo may elect to update these forward-looking statements at some point in the future, CRIS and EVgo specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing CRIS’s or EVgo’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
EVgo
For Investors:
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For Media:
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Climate Real Impact Solutions
For Investors:
Daniel Gross
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For Media:
Isaac Steinmetz
Director of Media Relations
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646-883-3655
LS Power
Steven Arabia
Director, Government Affairs & Media Relations
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609-212-3857
DALLAS--(BUSINESS WIRE)--The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for the fourth quarter of 2020. The distribution will be paid on February 12, 2021 to unitholders of record on February 2, 2021.
In 2021, HEP expects to hold the quarterly distribution constant at $0.35 per unit, or $1.40 on an annualized basis. We remain committed to our distribution strategy focused on funding all capital expenditures and distributions within free cash flow and maintaining distributable cash flow coverage of 1.3x or greater with the goal of reducing leverage to 3.0-3.5x.
Holly Energy plans to announce results for its fourth quarter of 2020 on February 23, 2021 before the opening of trading on the NYSE. The Partnership has scheduled a webcast conference on February 23, 2021 at 4:00 p.m. Eastern time to discuss financial results.
The webcast may be accessed at:
https://event.on24.com/wcc/r/2947931/69912ABCD95D2FE2A18BF7810FD7788C
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries. Holly Energy, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (100.0%) of Holly Energy’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, Holly Energy’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Forward-looking Statement:
The statements in this press release relating to matters that are not historical facts are “forward-looking statements” within the meaning of the federal securities laws, including statements regarding funding of capital expenditures and distributions, distributable cash flow coverage and leverage targets. These statements are based on our beliefs and assumptions and those of our general partner using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties. Although we and our general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither we nor our general partner can give assurance that our expectations will prove to be correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in these statements. Any differences could be caused by a number of factors including, but not limited to:
The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Vice President, Investor Relations
or
Trey Schonter, 214-954-6511
Investor Relations
HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE: SLB) today reported results for the fourth-quarter and full-year 2020.
| Fourth-Quarter Results | (Stated in millions, except per share amounts) | |||||||||
| Three Months Ended | Change | |||||||||
| Dec. 31, 2020 | Sept. 30, 2020 | Dec. 31, 2019 | Sequential | Year-on-year | ||||||
| Revenue | $5,532 |
$5,258 |
$8,228 |
5% |
|
-33% |
||||
| Income (loss) before taxes - GAAP basis | $471 |
$(54) |
$452 |
n/m |
|
4% |
||||
| Net income (loss) - GAAP basis | $374 |
$(82) |
$333 |
n/m |
|
12% |
||||
| Diluted EPS (loss per share) - GAAP basis | $0.27 |
$(0.06) |
$0.24 |
n/m |
|
12% |
||||
|
|
|
||||||||
| Adjusted EBITDA* | $1,112 |
$1,018 |
$1,648 |
9% |
|
-33% |
||||
| Adjusted EBITDA margin* | 20.1% |
19.4% |
20.0% |
73 bps |
|
6 bps |
||||
| Pretax segment operating income* | $654 |
$575 |
$1,006 |
14% |
|
-35% |
||||
| Pretax segment operating margin* | 11.8% |
10.9% |
12.2% |
90 bps |
|
-40 bps |
||||
| Net income, excluding charges & credits* | $309 |
$228 |
$545 |
35% |
|
-43% |
||||
| Diluted EPS, excluding charges & credits* | $0.22 |
$0.16 |
$0.39 |
37% |
|
-44% |
||||
|
|
|
||||||||
| Revenue by Geography |
|
|
|
|||||||
| International | $4,343 |
$4,210 |
$5,834 |
3% |
|
-26% |
||||
| North America | 1,167 |
1,034 |
2,339 |
13% |
|
-50% |
||||
| Other | 22 |
14 |
55 |
n/m |
|
n/m |
||||
$5,532 |
$5,258 |
$8,228 |
5% |
|
-33% |
|||||
*These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions", "Geographical", and "Supplemental Information" for details. |
n/m = not meaningful |
Schlumberger CEO Olivier Le Peuch commented, “We concluded the year posting very strong fourth-quarter results, as we leveraged the industry recovery, which has now commenced. Fourth-quarter revenue grew 5% sequentially, driven by strong activity and solid execution both in North America and in the international markets. Despite seasonality, revenue grew sequentially in all four Divisions for the first time since the third quarter of 2019. I stand very proudly behind the performance of the entire Schlumberger team during the quarter, closing an exceptional year of operational resilience and performance for our customers.
“Sequentially, international revenue growth visibly outpaced rig count and was led by Latin America and a global rebound of activity in most offshore deepwater markets. In the Middle East & Asia, growth was mostly in China, India, and Oman while Saudi Arabia remained resilient. In Europe/CIS/Africa, activity increased significantly in the offshore markets of Africa and several countries in Europe offset by the seasonal winter slowdown in Russia. In North America, offshore activity in the US Gulf of Mexico grew, and on land, increased horizontal drilling and pressure pumping activity contributed to higher revenue.
| (Stated in millions) | ||||||||||
| Three Months Ended | Change | |||||||||
| Dec. 31, 2020 | Sept. 30, 2020 | Dec. 31, 2019 | Sequential | Year-on-year | ||||||
| Revenue by Division | ||||||||||
| Digital & Integration | $833 |
$740 |
$1,112 |
13% |
|
-25% |
||||
| Reservoir Performance | 1,247 |
1,215 |
2,122 |
3% |
|
-41% |
||||
| Well Construction | 1,866 |
1,835 |
3,009 |
2% |
|
-38% |
||||
| Production Systems | 1,649 |
1,532 |
2,131 |
8% |
|
-23% |
||||
| Other | (63) |
(64) |
(146) |
n/m |
|
n/m |
||||
$5,532 |
$5,258 |
$8,228 |
5% |
|
-33% |
|||||
|
|
|
||||||||
| Pretax Operating Income by Division |
|
|
|
|||||||
| Digital & Integration | $270 |
$202 |
$259 |
33% |
|
4% |
||||
| Reservoir Performance | 95 |
103 |
227 |
-8% |
|
-58% |
||||
| Well Construction | 183 |
172 |
373 |
6% |
|
-51% |
||||
| Production Systems | 155 |
132 |
206 |
18% |
|
-24% |
||||
| Other | (49) |
(34) |
(59) |
n/m |
|
n/m |
||||
$654 |
$575 |
$1,006 |
14% |
|
-35% |
|||||
|
|
|
||||||||
| Pretax Operating Margin by Division |
|
|
|
|||||||
| Digital & Integration | 32.4% |
27.3% |
23.2% |
507 bps |
|
914 bps |
||||
| Reservoir Performance | 7.6% |
8.4% |
10.7% |
-84 bps |
|
-307 bps |
||||
| Well Construction | 9.8% |
9.4% |
12.4% |
42 bps |
|
-261 bps |
||||
| Production Systems | 9.4% |
8.6% |
9.6% |
82 bps |
|
-23 bps |
||||
| Other | n/m |
n/m |
n/m |
n/m |
|
n/m |
||||
11.8% |
10.9% |
12.2% |
90 bps |
|
-39 bps |
|||||
n/m = not meaningful
“Digital & Integration revenue increased 13% sequentially driven by Asset Performance Solutions (APS) projects, increased multiclient seismic license sales, and higher digital solutions and software sales internationally. Reservoir Performance and Well Construction revenue increased 3% and 2%, respectively, due to higher activity in North America, Latin America, and in Middle East & Asia partially offset by the seasonal winter slowdown in Russia. Production Systems revenue increased 8% sequentially and grew in North America and internationally.
“Sequentially, fourth-quarter pretax operating income and adjusted EBITDA increased 14% and 9%, respectively. Pretax operating income margin and adjusted EBITDA margin expanded to reach 12% and 20%, respectively, achieving the same level as the fourth quarter of 2019 despite a 33% decline in revenue year-on-year. Sequentially, incremental EBITDA margin was 34%, demonstrating the ability of our new Divisions to enhance operating leverage, fully preparing us for the growth cycle ahead.
“Fourth-quarter cash flow from operations was $878 million and free cash flow was $554 million despite severance payments of $144 million. We are confident in our ability to further improve cash flow generation in 2021, which will allow for debt reduction.
“Regarding the macro outlook, oil prices have risen, buoyed by recent supply-led OPEC+ policy, the ongoing COVID-19 vaccine rollout, and multinational economic stimulus actions—driving optimism for an oil demand recovery throughout 2021. We believe this sets the stage for oil demand to recover to 2019 levels no later than 2023, or earlier as per recent industry analysts’ reports, reinforcing a multiyear cycle recovery as the global economy strengthens. Absent a setback in these macro assumptions, this will translate to meaningful activity increases both in North America and internationally.
“In North America, spending and activity momentum will continue in the first half of 2021 towards maintenance levels, albeit moderated by capital discipline and industry consolidation. Internationally, following the seasonal effects of the first quarter of 2021, and as OPEC+ responds to strengthening oil demand, higher spending is expected from the second quarter of 2021 onwards. Accelerated activity will extend beyond the short-cycle markets and will be broad, including offshore, as witnessed during the fourth quarter.
“The quality of our results in the fourth quarter of 2020 validates the progress of our performance strategy and the reinvention of Schlumberger in this new chapter for the industry. Building from the swift execution and scale of our cost-out program, we exited the year with quarterly margins reset to 2019 levels as the upcycle begins. On the back of our high-graded and restructured business portfolio, we see a clear path to achieve double-digit margins in North America and visible international margin improvement in 2021. Given the depth, diversity, and executional capability of our international business, we are uniquely positioned to benefit as international spending accelerates in the near- and midterm.
“By leveraging our new Basin and Division structure, we are fully set to capitalize on the growth drivers of the future of our industry, particularly as we accelerate our digital growth ambition and lead in the production and recovery market. Finally, to meet our long-term ambition to bring lower carbon and carbon-neutral energy sources and technology to market, we are visibly expanding our New Energy portfolio, to contribute to the transformation of a more resilient, sustainable, and investable energy services industry.”
Other Events
On December 31, 2020, Schlumberger closed the contribution to Liberty Oilfield Services Inc. (Liberty) of OneStim®, Schlumberger’s onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating, and Permian frac sand businesses, in exchange for a 37% equity interest in Liberty.
On January 21, 2021, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.125 per share of outstanding common stock, payable on April 8, 2021 to stockholders of record on February 17, 2021.
| Revenue by Geographical Area | ||||||||||
| (Stated in millions) | ||||||||||
| Three Months Ended | Change | |||||||||
| Dec. 31, 2020 | Sept. 30, 2020 | Dec. 31, 2019 | Sequential | Year-on-year | ||||||
| North America | $1,167 |
$1,034 |
$2,339 |
13% |
|
-50% |
||||
| Latin America | 969 |
828 |
1,142 |
17% |
|
-15% |
||||
| Europe/CIS/Africa | 1,366 |
1,397 |
2,018 |
-2% |
|
-32% |
||||
| Middle East & Asia | 2,008 |
1,985 |
2,674 |
1% |
|
-25% |
||||
| Other | 22 |
14 |
55 |
n/m |
|
n/m |
||||
$5,532 |
$5,258 |
$8,228 |
5% |
|
-33% |
|||||
n/m = not meaningful |
Certain prior period amounts have been reclassified to conform to the current period presentation. |
North America
North America area revenue of $1.2 billion increased 13% sequentially with strong growth both on land and offshore. Land revenue increased driven by Well Construction activity on higher rig count and OneStim activity through additional fleet redeployments. Offshore revenue grew due to higher sales of subsea production systems and year-end multiclient seismic licenses.
International
Revenue in the Latin America area of $969 million increased 17% sequentially with continued strength in Ecuador, Colombia, offshore Brazil, Guyana, and Argentina. Ecuador revenue increased on APS projects, higher sales of well production systems, increased intervention services, and a rebound in drilling activity. Revenue increased in Colombia from drilling project startups, in Brazil from the resumption of offshore drilling and sales of production systems, in Guyana from increased intervention and stimulation activity, and in Argentina from higher drilling activity.
Europe/CIS/Africa area revenue of $1.4 billion decreased 2% sequentially mainly due to the seasonal winter activity slowdown in Russia & Central Asia while activity increased significantly in Angola, Nigeria, Gabon, and several countries in Europe. Revenue increased in Angola from drilling project startups, in Scandinavia from increased sales of subsea and well production systems, in Gabon and Nigeria from new project startups, and in Mozambique from multiclient seismic license sales. Significant digital solutions and software sales were made in Russia, Scandinavia, Romania, Ukraine, and Turkey.
Revenue in the Middle East & Asia area of $2.0 billion increased 1% sequentially. Revenue growth was mainly in China, India, and Oman, partially offset by declines in Egypt, East Asia, and Kuwait. Revenue in China increased from sales of production systems and digital solutions and higher drilling and measurement activity. Production Systems sales drove growth in India and Oman but declined in Egypt, East Asia, and Kuwait. Revenue in Saudi Arabia was resilient as reduced stimulation, logging, and drilling activity was offset by higher sales of production systems. Qatar revenue was also resilient as reduced stimulation activity was offset by higher drilling activity.
Results by Division
Digital & Integration
| (Stated in millions) | ||||||||||
| Three Months Ended | Change | |||||||||
| Dec. 31, 2020 | Sept. 30, 2020 | Dec. 31, 2019 | Sequential | Year-on-year | ||||||
| Revenue | $833 |
$740 |
$1,112 |
13% |
|
-25% |
||||
| Pretax operating income | $270 |
$202 |
$259 |
33% |
|
4% |
||||
| Pretax operating margin | 32.4% |
27.3% |
23.2% |
507 bps |
|
914 bps |
||||
Digital & Integration revenue of $833 million, 83% of which came from the international markets, increased 13% sequentially. International revenue increased by 14% and North America revenue increased by 6% sequentially. Digital & Integration revenue increased from APS projects, increased multiclient seismic license sales in Mozambique, US land, and the US Gulf of Mexico, and higher digital solutions and software sales internationally.
Digital & Integration pretax operating margin of 32% expanded by 507 bps sequentially. The margin expansion was primarily in the international markets and was driven by improved profitability across APS projects, digital solutions, and multiclient seismic license sales from higher activity.
Reservoir Performance
| (Stated in millions) | ||||||||||
| Three Months Ended | Change | |||||||||
| Dec. 31, 2020 | Sept. 30, 2020 | Dec. 31, 2019 | Sequential | Year-on-year | ||||||
| Revenue | $1,247 |
$1,215 |
$2,122 |
3% |
|
-41% |
||||
| Pretax operating income | $95 |
$103 |
$227 |
-8% |
|
-58% |
||||
| Pretax operating margin | 7.6% |
8.4% |
10.7% |
-84 bps |
|
-307 bps |
||||
Reservoir Performance revenue of $1.2 billion, 73% of which came from the international markets, increased 3% sequentially. International revenue declined 3% while North America revenue increased 23% sequentially. The revenue increase was driven by higher OneStim activity in North America, higher intervention services from project startups in Ecuador and Colombia, and increased intervention and stimulation activity in Guyana. This increase, however, was partially offset by seasonality in Russia and reduced stimulation, intervention, and evaluation activity in Saudi Arabia and Qatar.
Reservoir Performance pretax operating margin of 8% decreased 84 bps sequentially driven by seasonality in Russia despite improved North American activity.
Well Construction
| (Stated in millions) | ||||||||||
| Three Months Ended | Change | |||||||||
| Dec. 31, 2020 | Sept. 30, 2020 | Dec. 31, 2019 | Sequential | Year-on-year | ||||||
| Revenue | $1,866 |
$1,835 |
$3,009 |
2% |
|
-38% |
||||
| Pretax operating income | $183 |
$172 |
$373 |
6% |
|
-51% |
||||
| Pretax operating margin | 9.8% |
9.4% |
12.4% |
42 bps |
|
-261 bps |
||||
Well Construction revenue of $1.9 billion, 84% of which came from the international markets, increased 2% sequentially. International and North America revenue increased 1% and 7%, respectively. The revenue increase was due to higher measurement, drilling, and fluids activity in North America, Latin America, and the Middle East & Asia, partially offset by seasonality in Russia. The North America revenue increase was driven by higher rig count on land while the Latin America revenue growth was due to the resumption of drilling in Ecuador, offshore Brazil, Guyana, and Argentina, and from project startups in Colombia. The revenue increase in Africa was a result of project startups in Angola, Gabon, and Nigeria, while the Middle East & Asia growth was driven by higher drilling activity in China and Qatar.
Sequentially, Well Construction pretax operating margin of 10% improved by 42 bps. North America margin improved due to higher drilling activity on land while international margin was essentially flat.
Production Systems
| (Stated in millions) | ||||||||||
| Three Months Ended | Change | |||||||||
| Dec. 31, 2020 | Sept. 30, 2020 | Dec. 31, 2019 | Sequential | Year-on-year | ||||||
| Revenue | $1,649 |
$1,532 |
$2,131 |
8% |
|
-23% |
||||
| Pretax operating income | $155 |
$132 |
$206 |
18% |
|
-24% |
||||
| Pretax operating margin | 9.4% |
8.6% |
9.6% |
82 bps |
|
-23 bps |
||||
Production Systems revenue of $1.6 billion, 74% of which came from the international markets, increased 8% sequentially. International and North America revenue increased 7% and 11%, respectively, due to higher subsea, midstream, and surface production systems sales and services activity across all areas. Revenue increased in subsea production systems in North America, Scandinavia, Nigeria, Angola, China, and India. Revenue increased in surface production systems in North America, Argentina, Saudi Arabia, and Iraq. Midstream production systems sales increased in Brazil, Mexico, Saudi Arabia, Oman, and North Africa.
Production Systems pretax operating margin of 9% increased by 82 bps sequentially due to a higher contribution from the long-cycle business of subsea, and profitability improvement in well and surface production systems due to cost reduction measures and higher activity.
Quarterly Highlights
The recovery cycle has begun, digital adoption is accelerating, and sanctioned projects are commencing on land and offshore, while others are approaching FID. In this improving environment, Schlumberger continues to win multiyear contract awards, particularly internationally. Awards during the quarter include:
The new industry landscape demands increased discipline in capital investment and maximum efficiencies in production and recovery. Schlumberger creates and deploys technology and processes to help customers increase value from their existing assets by enhancing production and boosting recovery. Examples from the quarter include:
Our fit-for-basin approach as part of our performance strategy is helping operators address their challenges and extend their technical limits. Through innovative technology adapted for local geological context, business models tailored to regional dynamics, and enhanced in-country value, Schlumberger is at the forefront of basin innovation to deliver a step change in performance for our customers. Examples from the quarter include:
As the industry continues to embrace digital transformation, we are working with customers and domain experts to develop and apply novel AI and machine learning solutions, made available on our digital platform, to create a step change in process efficiency.
A diverse range of customers continue to adopt Schlumberger digital technologies across several geographies and use cases, from increasing enterprisewide performance to advancing national energy strategy, with the aim to improve asset efficiency, operational cost, and performance.
The application of our digital solutions also extends beyond our core industry and will support customers actively participating in the energy transition.
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.
COMMITTEE and TASK FORCE VIRTUAL SESSIONS SCHEDULED
HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority will conduct its regular monthly meeting virtually on Tuesday, Jan. 26 at 9:15 a.m., via Webex webinar.
Several other virtual Port Authority public meetings are also scheduled for next week:
The agendas and the instructions to access all of the virtual meetings are available at http://porthouston.com/leadership/public-meetings/. Sign up for public comment is available up to an hour before the Port Commission and Community Advisory Council meetings by contacting Erik Eriksson at This email address is being protected from spambots. You need JavaScript enabled to view it. or Liana Christian at This email address is being protected from spambots. You need JavaScript enabled to view it..
Governor Abbott’s action of March 16, 2020 continues to allow these virtual and telephonic open meetings to maintain government transparency, as the Port Authority Executive Office Building remains closed to the general public.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel – the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. nation. The more than 200 private and eight public terminals along the federal waterway supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6% of Texas’ total gross domestic product (GDP) – and a total of $801.9 billion in economic impact across the nation. For more information, visit the website at https://porthouston.com/
Lisa Ashley, Director, Media Relations
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DUBLIN--(BUSINESS WIRE)--The "Autonomous Ships Market by Autonomy (Fully Autonomous, Remote Operations, Partial Automation), Ship Type (Commercial, Defense), End-Use (Linefit, Retrofit), Solution (Systems, Software, Structures), Propulsion and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The autonomous ships market is estimated to be USD 5,866 million in 2020 and is projected to reach USD 14,256 million by 2030, at a CAGR of 9.3% from 2020 to 2030.
The demand for new ships and the retrofitting of existing ships with advanced technologies is expected to grow with the increase in trade activities. New defense and commercial vessels are equipped with advanced systems for improved safety and efficiency. The implementation of advanced systems acts as an important driver for the autonomous ships market. Autonomous ships are one of the variants of automated vessels. These ships involve integrating various systems and subsystems, enabling effective decision-making based on sensor fusion technology and Artificial Intelligence (AI) for processing the data, hence reducing or eliminating human intervention.
Based on autonomy, fully autonomous segment projected to lead autonomous ships market during the forecast period
Based on autonomy, the autonomous ships market is segmented into fully autonomous, remotely-operated and partial automation. The growth of the fully autonomous segment of the autonomous ships market can be attributed to the increased investments in developing autonomous ships in European region.
Based on ship type, commercial segment projected to lead autonomous ships market during the forecast period
Based on ship type, the autonomous ships market is segmented into commercial and defense. The commercial segment is expected to grow at the higher CAGR, owing to the rising seaborne trade and tourism across the globe.
Based on end use, the linefit segment accounts for the largest market size during the forecast period
Based on end use, the autonomous ships market is segmented into linefit and retrofit. The linefit segment is estimated to account for a larger share in 2020 as compared to the retrofit segment. The growth of the line fit segment can be attributed to the increased investments in naval defense by various countries and rise in seaborne trade activities across the globe.
The Asia Pacific is expected to account for the largest share in 2020
The autonomous ships market has been studied for North America, Europe, Asia Pacific and Rest of the World. The Asia Pacific is estimated to account for the largest share of the global market in 2020. Shipbuilding companies from Japan, South Korea, and China, are also among the largest players in each of the four major segments, namely, tankers, bulk carriers, container ships, and offshore vessels. The Asia Pacific has witnessed rapid economic development over the years, increasing maritime trade. This rise in sea trade has subsequently led to an increasing demand for ships to transport manufactured goods worldwide. Thus, the rising number of ships has increased the demand for autonomous ships in the Asia Pacific region.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/zg6a7m
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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