DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that Scott Rowe, president and chief executive officer, will participate in a virtual fireside chat during the Morgan Stanley Virtual 8th Annual Laguna Conference on Thursday, September 17 at 9:00 a.m. EDT.
A webcast of Mr. Rowe’s discussion will be available for shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.
Safe Harbor Statement:
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Throughout our materials we refer to non-GAAP measures as “Adjusted.” Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) today announced that it intends to offer, subject to market and other conditions, $1.0 billion aggregate principal amount of Senior Secured Notes due 2028 (the “Cheniere Notes”).
Cheniere intends to use the proceeds from its inaugural offering to prepay a portion of the outstanding indebtedness of Cheniere under the 3-year $2.695 billion delayed draw term loan credit facility Cheniere entered into in June 2020 and subsequently partially repaid and reduced to $2.595 billion, and to pay related fees, expenses and other amounts owing in connection therewith.
The offer of the Cheniere Notes has not been registered under the Securities Act of 1933, as amended (the "Securities Act") and the Cheniere Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to the amount and timing of share repurchases, and (viii) statements regarding the outbreak of COVID-19 and its impact on Cheniere’s business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.
Investors
Randy Bhatia 713-375-5479
Megan Light 713-375-5492
Or
Media Relations
Eben Burnham-Snyder 713-375-5764
Jenna Palfrey 713-375-5491
MIDLAND, Texas--(BUSINESS WIRE)--Concho Resources Inc. (NYSE: CXO) today announced that Jack Harper, President, will present at the Raymond James 16th Annual North American Equities Conference. The presentation will begin at 7:50 AM CT on Tuesday, September 15, 2020.
A live audio webcast of the presentation will be available on the “Events & Presentations” page under the “Investors” section of the Company’s website at www.concho.com. The webcast will be archived and available at the same location after the conclusion of the live event.
Concho Resources Inc.
Concho Resources (NYSE: CXO) is one of the largest unconventional shale producers in the Permian Basin, with operations focused on safely and efficiently developing and producing oil and natural gas resources. We are working today to deliver a better tomorrow for our shareholders, people and communities. For more information about Concho, visit www.concho.com.
INVESTOR RELATIONS
Megan P. Hays
Vice President of Investor Relations & Public Affairs
432.685.2533
MEDIA
Mary T. Starnes
Manager of Public Affairs & Corporate Responsibility Strategy
432.221.0477
LONDON--(BUSINESS WIRE)--#GlobalUnderwaterExplorationRobotsMarket--The global underwater exploration robots market size is expected to grow by USD 2.54 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 13%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Underwater Exploration Robots Market Analysis Report by Product (AUV and ROV) and Geography (North America, Europe, APAC, MEA, and South America), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/underwater-exploration-robots-market-industry-analysis
The market is driven by the increasing offshore E&P programs. In addition, the emergence of swarm intelligence is anticipated to boost the growth of the Underwater Exploration Robots Market.
The increasing need to explore petroleum-based energy sources by the oil and gas industry has propelled the demand for technologies suitable for hostile offshore and subsea environments. The demand for underwater exploration robots for such environments is high, as they are hard to reach and require advanced hardware and software to operate. Moreover, E&P activities involve various serious challenges related to health, safety, and environment (HSE), which further boosts the demand for underwater exploration robots. The past few years have seen an overhaul in the upstream business of companies in the industry. As the industry recovers, more stakeholders in the oil and gas industry will invest in search, recovery, and production of crude oil and natural gas through the drilling of exploratory wells. Thus, the increasing offshore E&P programs will drive the growth of the market.
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Major Five Underwater Exploration Robots Companies:
ATLAS ELEKTRONIK GmbH
ATLAS ELEKTRONIK GmbH is a developer and integrator of autonomous underwater vehicles. It offers solutions such as surface vessel systems, mine warfare systems, anti-submarine systems, naval weapons, etc. The company offers various underwater exploration robots under the brand names SeaFox, SeaCat, and SeaOtter.
DOF Subsea Group
DOF Subsea Group has business operations under two segments: Subsea/IMR Projects and Long-term Chartering. The company offers a wide range of underwater exploration robots such as EdgeDVR and The UHD-III.
Forum Energy Technologies Inc.
Forum Energy Technologies Inc. operates its business through three segments: drilling and downhole, completions, and productions. The company offers various underwater exploration robots such as Work class ROVs and Sub-Atlantic brand ROVs used for sub sea- oil and gas applications.
General Dynamics Mission Systems Inc.
General Dynamics Mission Systems Inc. has business operations under various segments such as LAND, SEA, AIR, SPACE, and CYBER. The company offers various underwater exploration robots such as Bluefin Robotics unmanned underwater vehicles. Also, the company offers wide range of modular, free-flooded UUV platforms and products, including more than 70 different sensors on more than 100 vehicles.
Kongsberg Gruppen ASA
Kongsberg Gruppen ASA operates its business through segments such as Kongsberg Maritime and Kongsberg Defence & Aerospace. The company offers various autonomous underwater vehicles robots such as HUGIN, MUNIN, REMUS, and Seaglider.
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Underwater Exploration Robots Market Product Outlook (Revenue, USD bn, 2020-2024)
Underwater Exploration Robots Market Regional Outlook (Revenue, USD bn, 2020-2024)
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About Technavio
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.
Technavio Research
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Website: www.technavio.com/
MIAMI--(BUSINESS WIRE)--World Fuel Services Corporation (NYSE:INT) announced today that its board of directors has declared a quarterly cash dividend of $0.10 per share payable on October 9, 2020 to shareholders of record on September 25, 2020.
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.
For more information, call 305-428-8000 or visit www.wfscorp.com.
Ira M. Birns,
Executive Vice President &
Chief Financial Officer
Glenn Klevitz,
Vice President & Treasurer
305-428-8000
DUBLIN--(BUSINESS WIRE)--The "Food Grade Industrial Gas Market Report: Trends, Forecast, and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.
The future of the food-grade industrial gas market looks promising with opportunities in the food and beverage industries. The global food grade industrial gas market is expected to grow with a CAGR of 7% from 2019 to 2024.
The major growth drivers for this market are increasing demand for conveniently packaged foods, carbonated beverages, the growing importance of preservative-free food, and increasing application in packaging and storage of frozen products, fruits, vegetables, beverages, meat, seafood, convenience foods, bakery and confectioneries.
Some of the features of 'Global Food Grade Industrial Gas Market 2019-2024: Trends, Forecast, and Opportunity Analysis' include
This report answers the following 11 key questions:
Scope of the Report
By Gas Type [$M shipment analysis for 2013-2024]:
By Application [$M shipment analysis for 2013-2024]:
By End Use [$M shipment analysis for 2013-2024]:
By Region [$M shipment analysis for 2013-2024]:
Companies Profiled
For more information about this report visit https://www.researchandmarkets.com/r/bxguro
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LEAWOOD, KS--(BUSINESS WIRE)--TortoiseEcofin today announced upcoming additions to its indices as part of its regular quarterly rebalancing for the third quarter of 2020. Following the close of trading on September 18, 2020, the indices will be rebalanced and as a result, the following changes will become effective.
Ecofin Global Water ESG Index SM
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Lindsay Corp |
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Tetra Tech Inc |
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MEG |
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The full constituent list can be viewed at https://tortoiseadvisors.com/media/1260/egwesg-constituent-overview-61920.pdf
Ecofin Global Digital Payments Infrastructure IndexSM
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BigCommerce Holdings Inc |
BIGC |
The full constituent list can be viewed at https://tortoiseadvisors.com/media/1539/tpmt-constituent-overview-61920.pdf
There were no third quarter rebalancing updates to report for the Tortoise MLP Index® (TMLP) and the Tortoise North American Pipeline IndexSM (TNAP).
The full constituent list for TMLP can be viewed at https://tortoiseadvisors.com/media/1528/tmlp-constituent-overview-61920.pdf
The full constituent list for TNAP can be viewed at https://tortoiseadvisors.com/media/1530/tnap-constituent-overview-61920.pdf
About TortoiseEcofin
TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior housing. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, please visit www.tortoiseadvisors.com.
The Tortoise MLP Index® is a float-adjusted, capitalization weighted index of energy master limited partnerships (MLPs). The index is comprised of publicly traded companies organized in the form of limited partnerships or limited liability companies engaged in transportation, production, processing and/or storage of energy commodities.
The Tortoise North American Pipeline IndexSM is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).
The Ecofin Global Water ESG Total Return IndexSM is a proprietary, rules-based, modified capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the water infrastructure or water management industries.
The indices mentioned above are the exclusive property of TIS Advisors, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline IndexSM, and Ecofin Global Water ESG IndexSM (the “Indices”). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by TIS Advisors and its affiliates. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
The Ecofin Global Digital Payments Infrastructure IndexSM represents the existing global digital payments landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in digital payments, including merchant processing and settlement, real time record keeping, settlement networks, and Fintech products/ services that facilitate the ease, efficiency, and speed of electronic transactions. This includes companies whose primary business is comprised of one or a combination of the following categories: credit card networks, electronic transaction processing and associated products/services, credit card issuers, electronic transaction processing software (payments Fintech) or online financial services market places.
This index mentioned above is the exclusive property of TIS Advisors and is calculated by Solactive AG (“Solactive”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG (“Solactive”) in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. TortoiseEcofin makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Maggie Zastrow at (913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it.
ROME--(BUSINESS WIRE)--Enel X, the Enel Group’s advanced energy services business line, and Ardian, a world-leading private investment house, have entered into a joint venture to manage Enel X’s battery storage projects in Canada and support the acceleration of the development of similar projects in the country.
“Battery storage systems represent a key element in the transition towards a decarbonized energy system as they facilitate the flexibility and stability of grids, and we are committed to empowering customers to help drive the shift towards these technologies,” said Francesco Venturini, CEO of Enel X. “This partnership with Ardian Infrastructure represents an important step that will further support the expansion of innovative energy efficiency solutions in the North American market. In partnering with Ardian we are combining our financial strength and Enel X’s industry expertise to create even more value for our customers and further accelerate our growth in the region.”
“This investment bolsters Ardian’s position as a leading player in the sustainable energy sector across the Americas,” said Stefano Mion, Senior Managing Director and co-head of Ardian Infrastructure US. “This latest partnership, our first in Canada, marks an important step forward as we diversify our sustainable energy portfolio into the rapidly growing battery storage sector. Behind-the-meter battery storage is a compelling component of the sustainable energy ecosystem as it allows users to store electricity when it is least expensive and consume it when costs from the grid are most expensive. We are excited to partner with Enel X on the opportunity to accelerate the joint venture’s growth, initially in Canada but longer term across the Americas.”
Under the agreement, a dedicated vehicle company, 80% owned by Ardian Infrastructure and 20% by Enel X, has been constituted to manage the battery storage projects in Canada currently included in the joint venture for around 30 MW of capacity. The battery storage portfolio is composed of ten asset locations throughout Ontario and includes two separate 10 MW/20 MWh projects expected to reach commercial operations in 2021. Through the partnership, Enel X will continue to construct, operate, and maintain these projects and will be responsible for the development of future projects.
The partnership with Ardian is in line with Enel X’s commitment to foster the deployment of cutting-edge energy service solutions for commercial and industrial (C&I) clients, leveraging on the company’s offering of integrated services to end customers. All of Enel X’s storage projects utilize the company’s Distributed Energy Resources (DER) Optimization software that has the unique capability to maximize the earnings potential across multiple use cases, such as demand and energy management programs. Through the financial support of Ardian, the platform will enable C&I customers to deploy state-of-the-art energy storage equipment, aimed at making power consumption and infrastructure more efficient.
The deal is part of Ardian’s ongoing commitment to invest in new technology and clean energy assets with the aim to create a more sustainable energy market and address climate change, as outlined in its most recent Augmented Infrastructure report. With 50 employees across eight offices throughout the Americas and Europe, the Ardian Infrastructure team is a world leading Infrastructure Fund Manager focused on the energy and transportation sectors.
Enel X in North America manages over 10.5 billion US dollars in customers’ annual energy spend for approximately 4,500 business customers, spanning more than 35,000 sites. The company has approximately 4.7 GW of demand response capacity and over 70 behind-the-meter storage projects in operation or under contract. Enel X’s intelligent DER Optimization Software is designed to analyze real-time energy and utility bill data, improve performance, and manage distributed energy assets across a number of different value streams and applications.
Enel X is Enel's global business line dedicated to the development of innovative products and digital solutions in sectors where energy is showing the greatest potential for transformation: cities, homes, industries and electric mobility. The company is a global leader in the advanced energy services field with a demand management capacity of more than 6 GW globally managed and assigned and 110 MW of storage capacity worldwide, as well as a leading operator in the electric mobility sector, with 80,000 public and private EV charging points around the globe.
Ardian is a world-leading private investment house with assets of 100 billion US dollars managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 690 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com
Enel X
Media Relations
+39 06 8305 5699
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enelx.com
Ardian US Media Contact
Ardian US
The Neibart Group
Charlie Mathon
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LONDON--(BUSINESS WIRE)--#GlobalSidetrackingMarket--Technavio has been monitoring the sidetracking market and it is poised to grow by USD 2 bn during 2020-2024, progressing at a CAGR of almost 6% 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.
Although the COVID-19 pandemic continues to transform the growth of various industries, 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. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Baker Hughes Co., Equinor ASA, Eurasia Drilling Co. Ltd., Halliburton Energy Services, Inc., Nabors Industries Ltd., National Oilwell Varco Inc., Odfjell Drilling Ltd., Schlumberger Ltd., Weatherford International Plc, and Yantai Jereh Oilfield Services Group Co. Ltd. are some of the major market participants. The production optimization of mature oil and gas fields will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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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.
Sidetracking Market 2020-2024: Segmentation
Sidetracking 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=IRTNTR41404
Sidetracking Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The sidetracking market report covers the following areas:
This study identifies the adoption of automation in oilfield operations as one of the prime reasons driving the sidetracking 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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Sidetracking Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
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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TORONTO--(BUSINESS WIRE)--September 2020 Cash Dividend - $0.06 per share
Superior Plus Corp. (“Superior”) (TSX:SPB) today announced its cash dividend for the month of September 2020 of $0.06 per share payable on October 15, 2020. The record date is September 30, 2020 and the ex-dividend date will be September 29, 2020. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.
About the Corporation
Superior consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and Specialty Chemicals includes the production and distribution of specialty chemicals products.
For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Forward Looking Information
This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, “expects”, “annualized”, and similar expressions.
In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Superior’s common shares, the dividend payment, the tax treatment thereof, and the receipt of cash dividends. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2019, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
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LONDON--(BUSINESS WIRE)--#DemandResponseDRMarket--Technavio has been monitoring the demand response (DR) market and it is poised to grow by USD 5.91 bn during 2020-2024, progressing at a CAGR of over 17% 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.
Although the COVID-19 pandemic continues to transform the growth of various industries, 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. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions-
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Cisco Systems Inc., Enel Spa, Honeywell International Inc., Itron Inc., LS Power Development LLC, Oracle Corp., Schneider Electric SE, Siemens AG, and Toshiba Corp. are some of the major market participants. the gap between electricity supply and demand will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Demand Response (DR) Market 2020-2024: Segmentation
Demand Response (DR) Market is segmented as below:
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Demand Response (DR) Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The demand response (DR) market report covers the following areas:
This study identifies the rising popularity of clean energy technologies as one of the prime reasons driving the demand response (DR) 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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Demand Response (DR) Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
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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AUSTIN, Texas--(BUSINESS WIRE)--$PHUN #PHUN--Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today that it has won a multiyear contract to deploy its comprehensive Smart Workplace mobile app portfolio with Norfolk Southern Corporation (or “Norfolk Southern”).
Norfolk Southern, together with its subsidiaries, is a leading national rail transportation provider, operating approximately 19,500 route miles in 22 states and the District of Columbia, and serves every major container port in the Eastern United States. It also transports overseas freight through various Atlantic and Gulf Coast ports and provides commuter passenger services as well. Norfolk Southern is a major transporter of industrial products, including chemicals, agriculture and metals and construction materials, while also operating as a principal carrier of coal, automobiles and automotive parts.
The Phunware Smart Workplace solution will give Norfolk Southern access to all of the features and capabilities provided by Phunware’s Multiscreen-as-a-Service (MaaS) platform on both Apple iOS and Google Android for its corporate campus environment. Norfolk Southern’s Smart Workplace will come pre-integrated with Phunware’s award-winning MaaS software, including Location Based Services (LBS), Mobile Engagement, Analytics and Content Management, for up to 750,000 square feet. Norfolk Southern will tech-enable its corporate campus experience to better engage its more than 25,000 employees with features that include room booking, parking reservations, food ordering, help requests and more.
“This kind of 7-figure engagement shows true commitment by Norfolk Southern to advance its digital transformation initiatives while ensuring a world-class employee and visitor experience in a post-pandemic world,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “We are thrilled to work with such an innovative leadership team to provide the necessary mobile software and cloud platform to reimagine their corporate campus experience in a mobile-first world, where safety, auditability and reliability are of paramount importance at operational scale.”
Click here to learn more about how Phunware facilitates a safer return to work with its Smart Workplace solution on MaaS.
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The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission (SEC), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
About Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & Phun) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with more than one billion active devices touching its platform each month. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://www.phunware.com, https://www.phuncoin.com, https://www.phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.
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LONDON--(BUSINESS WIRE)--#GlobalShippingContainerLinersMarket--Technavio has been monitoring the shipping container liners market and it is poised to grow by USD 174.63 million during 2020-2024, progressing at a CAGR of over 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.
Although the COVID-19 pandemic continues to transform the growth of various industries, 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. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions-
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. A.P. Moller - Maersk AS, Amcor Plc, Berry Global Group Inc., Bulk Handling Australia Group Pty. Ltd., Bulk-Flow, Eceplast Srl, Greif Inc., Intertape Polymer Group Inc., LC Packaging International BV, and Sinopack Industries Ltd. are some of the major market participants. The increasing need for container liners will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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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.
Shipping Container Liners Market 2020-2024: Segmentation
Shipping Container Liners 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=IRTNTR43008
Shipping Container Liners Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The shipping container liners market report covers the following areas:
This study identifies increased innovation in the global container liners market as one of the prime reasons driving the shipping container liners 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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Shipping Container Liners Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
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.
Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/
CANONSBURG, Pa.--(BUSINESS WIRE)--#ETRN--Equitrans Midstream Corporation (NYSE: ETRN) management and board of directors, today, released a statement regarding a contract dispute and the related attempt by EQT Corporation (EQT) and its financial advisor to market ETRN’s Hammerhead pipeline.
The Hammerhead gathering header pipeline, with a total capacity of 1.6 Bcf per day, was completed and injected with initial line-pack provided by EQT in July 2020 and was placed in-service effective August 1, 2020. EQT has a 1.2 Bcf per day firm capacity commitment on the Hammerhead pipeline, which provides access to the Texas Eastern Transmission and Dominion Transmission pipelines, as well as an interconnect to the Mountain Valley Pipeline.
“It has recently come to our attention that EQT has a mistaken belief that the Hammerhead pipeline is not in-service under the terms of its agreement; and, on that basis, that EQT believes it may terminate the gathering agreement and take title to the Hammerhead pipeline in exchange for a reimbursement payment. EQT, acting through its financial advisor, has attempted to market ETRN’s Hammerhead pipeline, which action constitutes unlawful conduct.
ETRN has demanded that EQT and its advisor immediately cease marketing ETRN’s pipeline. To ETRN’s knowledge they have not done so. We firmly believe, and have communicated to EQT, that EQT lacks any valid basis for its actions and that any attempt by EQT to terminate the Hammerhead gathering agreement and to acquire (or potentially sell) the Hammerhead pipeline is contrary to law. ETRN will continue to enforce its rights under the Hammerhead gathering agreement in full.
ETRN gathers the overwhelming majority of EQT’s production. Given the scope of our business relationship, ETRN and EQT periodically have disputes and disagreements and most often amicably resolve them. While we disagree with EQT’s actions, ETRN remains committed to pursuing a resolution to this dispute. ETRN’s duty, first and foremost, is to its shareholders, and ETRN will firmly pursue all available legal avenues or remedies to protect its investment in the Hammerhead pipeline.”
About Equitrans Midstream Corporation:
Equitrans Midstream Corporation (ETRN) has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located assets in the Marcellus and Utica regions, ETRN has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 with the vision to be the premier midstream services provider in North America. ETRN is helping to meet America’s growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work.
For more information on Equitrans Midstream Corporation, visit www.equitransmidstream.com; and to learn more about our environmental, social, and governance practices visit Sustainability Reporting.
Cautionary Statements
This news release contains certain forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended (the Exchange Act), and Section 27A of the United States Securities Act of 1933, as amended (the Securities Act), concerning ETRN and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of ETRN, as well as assumptions made by, and information currently available to, such management. Words such as “could,” “will,” “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” “target” or “continue,” and similar expressions are used to identify forward-looking statements. These statements are subject to various risks and uncertainties, many of which are outside ETRN's control. Without limiting the generality of the foregoing, forward-looking statements contained in this news release specifically include expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of ETRN and its affiliates, including guidance and any changes in such guidance regarding ETRN’s gathering, transmission and storage and water service revenue and volume growth; the impact of a dispute with EQT (or resolution thereof) regarding the Hammerhead gathering agreement and/or ownership of the Hammerhead assets (or any other agreement or ETRN assets) on ETRN’s forecasts of net income attributable to ETRN, adjusted EBITDA (including incremental adjusted EBITDA), revenue (including firm revenue), expenses, leverage ratio, free cash flow, retained free cash flow and capital expenditures, and the impacts of any such dispute (or related resolution) on ETRN’s commercial relationship with EQT; the weighted average contract life of gathering, transmission and storage contracts; any credit rating impacts associated with any potential dispute with EQT or other matters related to the Hammerhead gathering agreement, the Hammerhead system or otherwise (including any resolution of any such dispute); the effect and outcome of future litigation and other proceedings; liquidity and financing requirements, including sources and availability; and the ability of ETRN’s subsidiaries to service debt under, and comply with the covenants contained in, their respective credit agreements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. ETRN has based these forward-looking statements on current expectations and assumptions about future events. While ETRN considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond ETRN’s control. The risks and uncertainties that may affect the operations, performance and results of ETRN’s business and forward-looking statements include, but are not limited to, those set forth under Item 1A, "Risk Factors" in ETRN's Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission (the SEC), as updated by the risk factors disclosed under Part II, Item 1A, "Risk Factors," of ETRN’s Quarterly Reports on Form 10-Q for the three months ended March 31, 2020 and the three and six months ended June 30, 2020, as each is filed with the SEC, and ETRN's subsequent Quarterly Reports on Form 10-Q.
All forward-looking statements speak only as of the date they are made and are based on information available at that time. ETRN assumes no obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
Source: Equitrans Midstream Corporation
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LONDON--(BUSINESS WIRE)--#ButaneMarket--The butane market is expected to grow by USD 13.22 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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LPG is a cleaner alternative to conventional fuels such as petrol and diesel as it contains comparatively simpler hydrocarbon compounds. LPG offers similar efficiency and better mileage than petrol vehicles for the same volume of fuel. Also, LPG is free from additives such as lead and has very low sulfur content. Moreover, vehicles that run on LPG have comparatively lower maintenance costs due to the cleaner burning of the fuel. Many such benefits are increasing the use of LPG as an automotive fuel, which is contributing to the growth of the global butane market.
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As per Technavio, the increasing demand for LPG in APAC will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Butane Market: Increasing Demand for LPG in APAC
The rising number of petrochemical units such as propane dehydrogenation units, alkylation units, mixed dehydrogenation, steam crackers, and isomerization units has increased the use of LPG in APAC. In addition, the rising competition from the US LPG exporters is prompting exporters in the Middle East to strengthen the existing deals with major importers in the region. For instance, India has signed a contract with Iran to import LPG to meet the growing domestic demand for cooking fuel. Similarly, the growing demand from propane dehydrogenation (PDH) plants has significantly increased LPG imports in China. Therefore, the increasing import of LPG in APAC is expected to fuel the growth of the global butane market during the forecast period.
“Less stringent regulations in North America and the increasing number of strategic alliances will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Butane Market: Segmentation Analysis
This market research report segments the butane market by Application (LPG, Petrochemicals, Refineries, and Others) and Geography (APAC, MEA, North America, Europe, and South America).
The APAC region led the butane market in 2019, followed by MEA, North America, Europe, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the increased use of LPG in the production of plastic products.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
About Technavio
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.
Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE:GEL) intends herewith to provide an update on its offshore operations, following Hurricane Laura, as well as disclose the receipt of some $41 million in cash that will also be accounted for as an increase in reported Adjusted EBITDA for the third quarter.
Turning first to the offshore, there is no apparent damage to our 100% owned and operated Cameron Highway Oil Pipeline System (“CHOPS”) nor any of its appurtenant facilities. As currently configured, the CHOPS pipeline goes up and over a junction platform located in Garden Banks block 72, where it can receive pigs and launch pigs for proper maintenance of two of its 30 inch diameter pipeline segments. That platform, located in 520 feet of water, recorded waves in the 70-80 foot range and sustained winds in excess of 130 mph as the eye of Laura passed some 17 miles to the southwest of its location. The platform experienced damage to its topside facilities which is usual and customary, and not significant nor unexpected, after experiencing those type of weather conditions. Below the waterline, through diving and remotely operated vehicle inspections, several areas of structural stress have been identified that will require further investigation and analysis. As a result, no oil is currently flowing through the CHOPS pipeline.
Grant Sims, CEO of Genesis Energy, said, “We are aggressively working to collect data and conduct a rigorous structural analysis for review by the Bureau of Safety and Environmental Enforcement to hopefully be able to re-occupy the platform, conduct the cleanup tasks required and return the CHOPS pipeline to normal operations. Based upon continuing data collection, observations and analysis, it would appear that CHOPS is more than likely not going to be in a position to resume operations before October 1 at the earliest.
However, we have been successful, to date, in working with shippers to divert all available and affected CHOPS barrels into our 64% owned and operated Poseidon Oil Pipeline for deliveries by it directly to shore or for Poseidon to deliver barrels into the Auger Pipeline for further transportation to shore via this alternative path. Because of the rate structures amongst the various pipelines, we expect minimal revenue impact to Genesis during this period of interrupted operations of CHOPS, other than when the volumes were shut in for the storm, and assuming the continuing conditions that there is enough available capacity on Poseidon and/or Auger to receive and transport all of the affected CHOPS volumes.
We would expect to incur total expenses associated with inspections, analyses and topside facility repairs in the range of $3-5 million, most of which will be reflected in the third quarter. Any potential costs associated with structural reinforcement or modification, either to the platform or pipeline facilities, will be treated as capital in future periods.
We are working diligently and as hard as possible to determine what it will take to return CHOPS to normal service as soon as we can, while never losing sight of our commitment to safe and responsible operations.
Shifting gears a bit, I would like to also take this opportunity to disclose that we have received approximately $41 million in cash that will be recognized as Adjusted EBITDA in the third quarter for covenant compliance purposes, all as more fully described in our senior secured credit agreement. The cash received is associated with the exercise of a letter of credit we had issued to us as beneficiary from a customer that defaulted under a twenty year term agreement entered into in 2008. The dollars collected from such contractual right will be credited to dollars owed us under the last years of the contract. Under the mechanics of said agreement, we will continue to be paid the dollars owed to us.
Having already received this cash and being able to recognize it as increased Adjusted EBITDA this quarter is a positive development for us under the circumstances. Accordingly, we see no scenarios where we have the risk of not comfortably living within all of our financial covenants as we deal with the aftermath of this hurricane season and the Covid-19 pandemic which has directly and indirectly challenged our businesses, like virtually all others, but which are clearly recovering and looking forward to better things in 2021.”
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, marine transportation and onshore facilities and transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
This operations and commercial update includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance that our goals will be achieved. Actual results may vary materially. All statements, other than statements of historical facts, included in this operations and commercial update that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including but not limited to statements relating to future financial and operating results, the impact of Hurricane Laura and the associated timing and costs, the COVID-19 pandemic, and our strategy and plans, are forward-looking statements, and historical performance is not necessarily indicative of future performance. Those forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside our control, that could cause results to differ materially from those expected by management. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for products, the outbreak or continued spread of disease, and other uncertainties that are described more fully in our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission and other filings, including our Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
Approaching 1GW of flexible supply Supporting the U.K.’s Energy Transition towards Net Zero
LONDON--(BUSINESS WIRE)--Quinbrook Infrastructure Partners (‘Quinbrook’), a specialist investor in lower carbon and renewable energy infrastructure, today announced further progress just two years into its ongoing investment campaign aimed at helping drive the United Kingdom’s energy transition toward net zero emissions of greenhouse gases by investing in infrastructure supporting energy security, ongoing economic recovery and job creation following COVID-19.
Over the past 24 months, Quinbrook has developed, constructed and agreed to acquire the following assets spanning flexible generation, grid support infrastructure and demand response capability:
Quinbrook plans to commit significant capital to the U.K. energy sector over the coming years, using its experience from prior investments in the U.S. and Australia spanning utility and distributed scale solar and battery storage, Virtual Power Plants and Community Energy Networks to develop and construct innovative and impactful infrastructure designed to aid the U.K. economic recovery.
Quinbrook’s UK investments to date are consistent with the U.K. Government’s policies to create a smarter, more resilient and flexible power system in the U.K. that enables the Net Zero transition to progress and achieve the significant carbon emissions reductions required from the energy sector. Last year, the U.K. government became the first major economy in the world to pass laws aimed at ending its contribution to global warming by 2050. This target requires the U.K. to bring all greenhouse gas emissions to Net Zero by 2050, compared with the previous target of at least 80% reduction from 1990 levels.
This commitment is projected to increase the country’s number of “green collar jobs” to approximately 2 million and boost the value of exports from the low carbon economy to £170 billion a year by 2030.
“The U.K. is undergoing a real and fundamental transformation of its energy system and we want to be at the forefront of where the U.K. industry is heading, not where it’s been,” said Rory Quinlan, co-founder and managing partner of Quinbrook. “By supporting the U.K. grid in managing the challenges presented by massive scale-up in intermittent wind and solar, we can deliver high-impact investments that enable even more renewables capacity to be built and carbon emissions abated. This is the only way the U.K.’s success to-date in decarbonizing its power sector can continue at the rapid pace needed.”
“These are sustainable investments in the purest sense, creating and preserving jobs in local communities across the U.K., reducing carbon emissions, helping the U.K. grid manage more zero emissions renewables without risk of blackouts and stimulating U.K. manufacturing. We are creating real and measurable ESG impact with the deployment of our investors’ capital and measurably supporting key United Nations Sustainable Development Goals, across climate action, creating sustainable cities and communities, affordable clean energy, innovative infrastructure, job creation and economic growth,” said Quinlan.
About Quinbrook
Quinbrook Infrastructure Partners (www.quinbrook.com) is a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the U.S., U.K. and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested over U.S.$8 billion of equity in energy infrastructure assets since the early 1990's, representing a total enterprise value of U.S.$28.7 billion or 19.5 GW of power supply capacity. Quinbrook's investment and asset management team has offices in Houston, London, Jersey, and the Gold Coast of Australia. Quinbrook's global investment and portfolio company teams are actively developing and constructing a portfolio exceeding 6GW of onshore wind, solar PV, reserve peaking power, battery storage projects, grid support infrastructure, Virtual Power Plants and Community Energy Networks across the U.S., U.K. and Australia.
Media
Amanda Coyle
Sloane & Company
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BELLEVUE, Wash.--(BUSINESS WIRE)--PACCAR (Nasdaq: PCAR) Inc’s Board of Directors today declared a regular quarterly cash dividend of thirty-two cents ($.32) per share, payable on December 1, 2020, to stockholders of record at the close of business on November 10, 2020.
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced powertrains, provides financial services and information technology, and distributes truck parts related to its principal business. PACCAR shares are listed on the NASDAQ Global Select market, symbol PCAR. Its homepage is www.paccar.com.
Ken Hastings
(425) 468-7530
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DUBLIN--(BUSINESS WIRE)--The "Carbon Black (BC): 2020 World Market Outlook and Forecast up to 2029 (with COVID-19 Impact Estimation)" report has been added to ResearchAndMarkets.com's offering.
The report is an essential resource for a one looking for detailed information on the world carbon black market. The report covers data on global, regional and national markets including present and future trends for supply and demand, prices, and downstream industries.
In addition to the analytical part, the report provides a range of tables and figures which all together give a true insight into the national, regional and global markets for carbon black.
Report Scope
COVID-19 IMPACT ESTIMATION
Key Topics Covered:
1. INTRODUCTION: CARBON BLACK PROPERTIES AND USES
2. CARBON BLACK MANUFACTURING PROCESSES
3. CARBON BLACK WORLD MARKET
3.1. World carbon black capacity
3.2. World carbon black production
3.3. Carbon black consumption
3.4. Carbon black global trade
3.5. Carbon black prices in the world market
4. CARBON BLACK REGIONAL MARKETS ANALYSIS
Each country section comprises the following parts:
4.1. Carbon black European market analysis
Countries covered:
4.2. Carbon black Asia Pacific market analysis
Countries included:
4.3. Carbon black North American market analysis
Countries under consideration:
4.4. Carbon black Latin American market analysis
Countries included:
4.5. Carbon black Middle East market analysis
Countries examined:
5. CARBON BLACK MARKET PROSPECTS
5.1. Carbon black capacity and production forecast up to 2029
5.2. Carbon black consumption forecast up to 2029
5.3. Carbon black market prices forecast up to 2029
6. KEY COMPANIES IN THE CARBON BLACK MARKET WORLDWIDE
7. CARBON BLACK END-USE SECTOR
7.1. Consumption by application
7.2. Downstream markets review and forecast
For more information about this report visit https://www.researchandmarkets.com/r/g9jkk5
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation today announced a contribution of $250,000 from the Chevron Global Community Fund to the American Red Cross to support relief efforts for wildfires in California.
“Our thoughts are with those impacted by the overwhelming effects of this situation and the people on the front lines battling to contain and extinguish the fires,” said Dale Walsh, vice president of corporate affairs for Chevron. “This donation reflects our ongoing commitment to help people in the communities where we do business during challenging times.”
Chevron has operated in California for more than 140 years. The company will also match any qualifying donations to wildfire relief efforts made by employees and retirees. The company has also previously committed $2 million to the California Fire Foundation (CFF) for a four-year program to support CFF’s direct victim assistance program, Supplying Aid to Victims of Emergency (SAVE).
Chevron (NYSE: CVX) is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
Sean Comey, +1-925-842-5509
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