DALLAS--(BUSINESS WIRE)--Kosmos Energy (NYSE/LSE: KOS) announced today the following schedule for its fourth quarter 2022 results:
Dial-in telephone numbers:
Toll Free: 1-877-407-0784
Toll/International: 1-201-689-8560
UK Toll Free: 0800 756 3429
Webcast:
investors.kosmosenergy.com
About Kosmos Energy
Kosmos is a full-cycle deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. We also pursue a proven basin exploration program in Equatorial Guinea, Ghana and the U.S. Gulf of Mexico. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in our Corporate Responsibility Report. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos’ Securities and Exchange Commission (“SEC”) filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
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Carbon Manager™ and EnterpriseDX® Give Microsoft Business Customers More Insight and Control Over Their Carbon Footprints
IRVINE, Calif.--(BUSINESS WIRE)--Phoenix Energy Technologies (“Phoenix Energy”), a leading provider of Enterprise Energy Management (EEM) Software and Solutions today announced it is now a Microsoft Solution Provider on the Microsoft AppSource, Azure Marketplace, and Microsoft Sustainability Manager. Microsoft business customers can now purchase Phoenix Energy Technologies’ Carbon Manager™ application and its EnterpriseDX® Smart Building analytics platform directly through the Microsoft Marketplace to take greater control of their building assets.
“Phoenix Energy Technologies’ Microsoft Co-sell ready status gives commercial marketplace customers access to powerful data analytics applications that allow for enterprise-wide visibility to reduce energy costs and mitigate carbon impact while increasing comfort,” said Glen Schrank, CEO of Phoenix Energy Technologies. “Our applications are designed to integrate seamlessly into existing infrastructure such as Microsoft’s suite of apps and the broader Microsoft Azure estate.”
Phoenix Energy Technologies’ EnterpriseDX, a Smart Building data exchange platform with IoT Data Analytics, and its Carbon Manager smart building application are built to integrate with a variety of solutions, including those offered by Microsoft and are offered on AppSource. As a solution compatible with Azure, EnterpriseDX is also available on the Azure Marketplace.
The EnterpriseDX Smart Building Platform controls, manages, and monitors thousands of strategically targeted data points from IoT facilities equipment including HVAC, lighting, refrigeration, and sensors. The platform allows for data collection from multiple sites and enables enterprise-wide visibility for energy management regardless of installed hardware. EnterpriseDX provides insights, proactive predictions, and enables actions to help maximize comfort and savings.
Phoenix Energy Technologies’ Carbon Manager is a cloud-based, Smart Building application that makes it easy for enterprises to measure, report, and act on carbon intensity from Scope 2 emission sources. It provides actionable curtailment measures that mitigate carbon impacts on businesses and the environment. The Carbon Manager application is now a component of Microsoft Sustainability Manager (formerly “Cloud for Sustainability”), which enables customers to accelerate their sustainability journey by unifying data intelligence, building sustainable IT infrastructure, reducing the impacts of operations, and creating sustainable value chains.
The Azure Marketplace is an online market for buying and selling cloud solutions certified to run on Azure. The Azure Marketplace helps connect companies seeking innovative, cloud-based solutions with partners who have developed solutions that are ready to use.
Learn more about how Phoenix Energy’s solutions can simplify the energy management process by integrating with existing infrastructure and ease of installment to save time, money, and the environment by viewing our How We Connect Without Hardware video.
About Phoenix Energy Technologies
Phoenix Energy Technologies has been providing Smart Building IoT analytics solutions to customers for more than 15 years. Phoenix Energy Technologies pairs industry expertise with solutions that are uniquely capable of integrating new and existing systems to create a seamless web-based platform that drive cost efficiencies and improve comfort. The Company’s EnterpriseDX® IoT data platform generates ROI for customers by optimizing equipment efficiency that reduces energy costs, decreases repair and maintenance spend and lowers capex by extending the life of assets. For more information about Phoenix Energy Technologies, visit http://www.phoenixet.com
Media: Financial Profiles
Jon Ruzan
(310) 622-8227
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Instruments Market Opportunity" report has been added to ResearchAndMarkets.com's offering.
This report evaluates the global analytical instrument market in the oil & gas and other closely related industries, such as environmental testing for refinery waste and utilities/power generation.
In this report, the oil & gas industry is categorized into upstream, midstream, downstream, in which different testing applications are observed. The analytical instrument market in this report includes laboratory benchtop, portable, and process instruments utilized in oil & gas applications. These instruments are categorized into nine different technology groups that contribute to the overall market.
Oil & natural gas are the world's primary fuel sources and play an influential role in the global economy. As a whole, the oil & gas industry remains the largest single source of energy in terms of global consumption. Fossil fuels, including coal, make up more than 80% of the world's energy supply.
These non-renewable fuels provide electricity, heat, transportation and also feed into processes that make products from steel to plastics. Despite efforts to decarbonize and expanding research into alternative fuel sources, even the most optimistic scenarios for reducing global dependence on fossil fuels show oil and gas dominating the energy landscape for many decades.
During the pandemic, oil and gas demand, along with prices, tumbled as countries imposed strict lockdowns to contain the spread of COVID-19. With a successful vaccination rollout, lockdowns were lifted, and demand surged. However, that surge was quickly disrupted by the invasion of Ukraine by Russia resulting in sky rocketing prices.
Furthermore, inflation, geopolitical issues and the threat of an impending recession cast much uncertainty over the oil & gas industry. Amidst the gloomy overcast, the outlook for natural gas is positive even with a tightening market and increasing prices, with the more carbon friendly form of fossil fuel expected to aid in the global effort to reduce greenhouse emissions. In addition, gas accounted for nearly half of the world's growth in energy demand, with most of the increased consumption coming from China and the United States.
Instrumentation is critical to the exploration, development, production, processing, and delivery of oil & gas products, and it also has crucial roles to play in plant and worker safety, as well as the monitoring and testing of fuels. Beyond the realm of energy, oil is also important as an industrial lubricant, and there is significant testing in this aspect of the oil & gas industry as well. As the leading provider of market research on analytical instrumentation, SDi has crafted this report to evaluate and explain what is currently driving growth for instrumentation demand in this important end-market.
Report Overview:
Market demand segmented by technique, region, and function, along with yearly market forecasts through 2026. The market estimates have been newly updated with 2021 as the base year and estimates are provided for the following techniques employed by the oil & gas industry:
Market opportunities and threats for the oil & gas industry and regional trends for the United States & Canada, Europe, China, Japan, India & Other Asia-Pacific, Latin America & the Rest of the World.
Vendor share of participating suppliers in each technology category employed by the oil & gas industry. Some of the top vendors in the overall market are presented below, in alphabetical order.
For more information about this report visit https://www.researchandmarkets.com/r/8pg4pc-oil-and?w=4
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DUBLIN--(BUSINESS WIRE)--The "Global Process Gas Reciprocating and Centrifugal Compressor Services Market in the Oil and Gas Industry" report has been added to ResearchAndMarkets.com's offering.
This deliverable examines the key types of compressor services across various regions. The study discusses the revenue generated by servicing, repairs, maintenance, and end-of-life services for process gas centrifugal and process gas reciprocating compressors. The study provides forecasts until 2026, with market data provided on major regions, including North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. The oil and gas industry is on the recovery path in 2021, following substantial declines in 2020 due to the COVID-19 pandemic.
Digitalization will play a critical role in enabling the energy transition in the oil and gas industry, with more companies implementing AI, robotics, and IoT technologies to boost energy efficiency. Strategic partnerships between major energy players will be necessary to mitigate the volatility in energy prices.
The study discusses the impact of the pandemic amid the increasing focus on sustainability by process gas compressor manufacturers and identifies key growth opportunities based on current and future market scenarios.
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. Process Gas Reciprocating Compressor Services Market
4. Process Gas Centrifugal Compressor Services Market
5. Growth Opportunity Universe
For more information about this report visit https://www.researchandmarkets.com/r/mi7u0-process?w=4
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ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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MANSFIELD, Ohio--(BUSINESS WIRE)--#ANNUALMEETING--The Board of Directors of The Gorman-Rupp Company (NYSE: GRC) has declared a quarterly cash dividend of $0.175 per share on the common stock of the Company, payable March 10, 2023, to shareholders of record as of February 15, 2023. This will mark the 292nd consecutive quarterly dividend paid by The Gorman-Rupp Company.
Other action taken by the Board of Directors of The Gorman-Rupp Company was the announcement of the Annual Meeting of Shareholders scheduled to be held Thursday, April 27, 2023, and the related establishment of the close of business on February 27, 2023 as the record date for shareholders entitled to notice of and to vote at the meeting. The meeting will be in a virtual format only via webcast at 10:00 a.m. Eastern time.
Rick R. Taylor has notified the Company that he will not stand for re-election as a Director at the Company’s 2023 Annual Meeting of Shareholders, when his term will expire. Mr. Taylor, 75, has served as a Director of the Company since 2003.
About The Gorman-Rupp Company
Founded in 1933, The Gorman-Rupp Company is a leading designer, manufacturer and international marketer of pumps and pump systems for use in diverse water, wastewater, construction, dewatering, industrial, petroleum, original equipment, agriculture, fire protection, heating, ventilating and air conditioning (HVAC), military and other liquid-handling applications.
Forward-Looking Statements
In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, The Gorman-Rupp Company provides the following cautionary statement: This news release contains various forward-looking statements based on assumptions concerning The Gorman-Rupp Company’s operations, future results and prospects. These forward-looking statements are based on current expectations about important economic, political, and technological factors, among others, and are subject to risks and uncertainties, which could cause the actual results or events to differ materially from those set forth in or implied by the forward-looking statements and related assumptions. Such uncertainties include, but are not limited to, our estimates of future earnings and cash flows, general economic conditions and supply chain conditions and any related impact on costs and availability of materials, and uncertainties related to our acquisition of the assets of Fill-Rite, including but not limited to integration of the acquired business in a timely and cost effective manner, retention of supplier and customer relationships and key employees, the ability to achieve synergies and cost savings in the amounts and within the time frames currently anticipated and the ability to service and repay indebtedness incurred in connection with the transaction. Other factors include, but are not limited to: company specific risk factors including (1) loss of key personnel; (2) intellectual property security; (3) acquisition performance and integration; (4) impairment in the value of intangible assets, including goodwill; (5) defined benefit pension plan settlement expense; and (6) family ownership of common equity; and general risk factors including (7) continuation of the current and projected future business environment, including the impact of inflation and other cost pressures, the duration and scope of the COVID-19 pandemic, the impact of the pandemic and actions taken in response to the pandemic; (8) highly competitive markets; (9) availability and costs of raw materials and labor; (10) cyber security threats; (11) compliance with, and costs related to, a variety of import and export laws and regulations; (12) environmental compliance costs and liabilities; (13) exposure to fluctuations in foreign currency exchange rates; (14) conditions in foreign countries in which The Gorman-Rupp Company conducts business; (15) changes in our tax rates and exposure to additional income tax liabilities; and (16) risks described from time to time in our reports filed with the Securities and Exchange Commission. Except to the extent required by law, we do not undertake and specifically decline any obligation to review or update any forward-looking statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments or otherwise.
Brigette A. Burnell
Corporate Secretary
The Gorman-Rupp Company
Telephone (419) 755-1246
NYSE: GRC
For additional information, contact James C. Kerr, Chief Financial Officer, Telephone (419) 755-1548.
DUBLIN--(BUSINESS WIRE)--The "Worldwide Wind Farms Database" has been added to ResearchAndMarkets.com's offering.
This product is a database of wind farms in the World.
It includes 37,959 entries (in 132 countries).
Its content represents 825,6 GW onshore and 912,6 GW offshore.
Detailed breakdown:
Onshore market:
Offshore market:
Provided Content:
Location
Turbines
Players
Status Data
For more information about this database visit https://www.researchandmarkets.com/r/jqmukc-wind?w=4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Coastal Surveillance Systems - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Coastal Surveillance Systems Market to Reach $41.1 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Coastal Surveillance Systems estimated at US$33.7 Billion in the year 2022, is projected to reach a revised size of US$41.1 Billion by 2030, growing at a CAGR of 2.5% over the analysis period 2022-2030. Intelligence, one of the segments analyzed in the report, is projected to record a 3.4% CAGR and reach US$12.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Surveillance & Reconnaissance segment is readjusted to a revised 1.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $9.9 Billion, While China is Forecast to Grow at 2.4% CAGR
The Coastal Surveillance Systems market in the U.S. is estimated at US$9.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.3 Billion by the year 2030 trailing a CAGR of 2.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.
Select Competitors (Total 14 Featured) -
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/pxmm6o
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Oilfield Catwalks Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027: Segmented By Type (Mechanized, Hydraulic, Automated), By Location (Onshore, Offshore), By Application, By Region" report has been added to ResearchAndMarkets.com's offering.
Global oilfield catwalks market is anticipated to grow with an impressive CAGR value in the mentioned forecast years 2023-2027 on the account of maximizing output of the oil reservoirs. Surge in the demand for the oilfield excavation for effective oil output is further driving the growth of the global oilfield catwalk market in the upcoming five years.
Oilfield catwalks are pipe handling systems that are utilized for the transportation of tubular objects and ancillary equipment between surface and the drill floor. These are elongated platform which is planted adjacent to the rig floor where pipe is laid out and lifted into the derrick.
The machinery is often radio controlled from the drill floor with an integrated indexer. The equipment is usually 0.9 meters tall and is typically made up of steel. The oilfield catwalks are situated perpendicular to the inverted V-shaped opening called as vee-door.
The catwalks are a functional area for drilling tool activities, components, tools that are picked up or the ones already running and about to be laid down.
Surging Demand for Oil & Gas Drives Market Growth
Rapidly increasing demand for the oil and gas by automotive industry and other industries is driving the growth of the global oilfield catwalk market in the upcoming five years.
Also, surging demand for maximizing the excavation amount of the oil & gas from a particular reservoir is further driving the growth of the global oilfield catwalk market in the next five years.
According to BP statistical review of world energy 2021, global oil production in the year 2020, accounted for 88,391 thousand barrels per day. Out of which 16,476 barrels per day oil production was in the United States alone.
The increased oil production is in response to the rapidly surging demands for the same. To sustain such heavy loads of production every day, best equipment and efficient machinery is much required thereby supporting the growth of the global oilfield catwalk market in the future five years.
Also, surge in the demand for oil & gas excavation from the difficult reservoirs are further substantiating the growth of the global oilfield catwalk market in the forecast years, until 2027.
Companies Mentioned:
Report Scope:
In this report, global oilfield catwalks market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Oilfield Catwalks Market, By Type:
Oilfield Catwalks Market, By Location:
Oilfield Catwalks Market, By Application:
Oilfield Catwalks Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/mxbmcq-catwalks?w=4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today reported earnings of $6.4 billion ($3.33 per share - diluted) for fourth quarter 2022, compared with $5.1 billion ($2.63 per share - diluted) in fourth quarter 2021. Included in the current quarter were $1.1 billion of international upstream write-off and impairment charges, and pension settlement costs of $17 million. Foreign currency effects decreased earnings by $405 million. Adjusted earnings of $7.9 billion ($4.09 per share - diluted) in fourth quarter 2022 compared to adjusted earnings of $4.9 billion ($2.56 per share - diluted) in fourth quarter 2021.
Chevron reported full-year 2022 earnings of $35.5 billion ($18.28 per share - diluted), compared with $15.6 billion ($8.14 per share - diluted) in 2021. Adjusted earnings of $36.5 billion ($18.83 per share - diluted) in 2022 compared to adjusted earnings of $15.6 billion ($8.13 per share - diluted) in 2021. For a reconciliation of adjusted earnings, see Attachment 6.
Sales and other operating revenues in fourth quarter 2022 were $55 billion, compared to $46 billion in the year-ago period.
Earnings Summary |
||||||||||||||||
|
|
Three Months
|
|
Year Ended
|
||||||||||||
Millions of dollars |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
Earnings by business segment |
|
|
|
|
|
|
|
|
||||||||
Upstream |
|
$ |
5,485 |
|
|
$ |
5,155 |
|
|
$ |
30,284 |
|
|
$ |
15,818 |
|
Downstream |
|
|
1,771 |
|
|
|
760 |
|
|
|
8,155 |
|
|
|
2,914 |
|
All Other |
|
|
(903 |
) |
|
|
(860 |
) |
|
|
(2,974 |
) |
|
|
(3,107 |
) |
Total (1)(2) |
|
$ |
6,353 |
|
|
$ |
5,055 |
|
|
$ |
35,465 |
|
|
$ |
15,625 |
|
(1) Includes foreign currency effects |
|
$ |
(405 |
) |
|
$ |
(40 |
) |
|
$ |
669 |
|
|
$ |
306 |
|
(2) Net income attributable to Chevron Corporation (See Attachment 1) |
||||||||||||||||
“We delivered record earnings and cash flow in 2022, while increasing investments and growing U.S. production to a company record,” said Mike Wirth, Chevron’s chairman and chief executive officer. The company’s investments increased by more than 75 percent from 2021, and annual U.S. production increased to 1.2 million barrels of oil equivalent per day, led by 16 percent growth in Permian Basin unconventional production.
“Again in 2022, we delivered on our financial priorities: returning cash to shareholders, investing capital efficiently, and paying down debt,” Wirth continued. The company’s other noteworthy financial highlights in 2022 include:
“We’re also investing to grow both traditional and new energy supplies to meet increasing demand for affordable, reliable, and ever-cleaner energy,” Wirth added. The company and its affiliates’ other significant business highlights in 2022 include:
In 2022, Chevron also added 1.1 billion barrels of net oil-equivalent proved reserves. These additions, which are subject to final reviews, equate to approximately 97 percent of net oil equivalent production for the year. The largest net additions were from assets in the Permian Basin, Israel, Canada and the Gulf of Mexico. The largest net reductions were from assets in Kazakhstan, primarily due to higher prices and their negative effect on reserves. The company will provide additional details relating to 2022 reserves in its Annual Report on Form 10-K scheduled to be filed with the SEC on February 23, 2023.
Earlier this week, the company raised its quarterly dividend per share an additional 6 percent, to $1.51 per share, putting the company on track to increase its annual per share dividend for the 36th straight year. In addition, the company’s board also approved a new $75 billion share repurchase program.
“We are well positioned to lead in both traditional and new energy businesses, while delivering higher returns, lower carbon and superior shareholder value,” Wirth concluded.
UPSTREAM
Worldwide net oil-equivalent production was 3.01 million barrels per day in fourth quarter 2022 and 3.00 million barrels per day for the full-year 2022. Both quarterly and annual production were down 3 percent compared to their respective 2021 periods. International production decreased 7 percent in 2022 primarily due to the end of concessions in Thailand and Indonesia, while U.S. production increased 4 percent compared to 2021, mainly in the Permian Basin.
U.S. Upstream |
|
|
|
|
|
|
|
|
||||||||
|
|
Three Months
|
|
Year Ended
|
||||||||||||
Millions of dollars |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
Earnings |
|
$ |
2,618 |
$ |
2,970 |
|
$ |
12,621 |
|
$ |
7,319 |
|||||
U.S. upstream operations earned $2.62 billion in fourth quarter 2022, compared with $2.97 billion a year earlier. The decrease was primarily due to the absence of fourth quarter 2021 asset sale gains, partially offset by higher realizations.
The company’s average sales price per barrel of crude oil and natural gas liquids was $66 in fourth quarter 2022, up from $63 a year earlier. The average sales price of natural gas was $4.94 per thousand cubic feet in fourth quarter 2022, up from $4.78 in last year’s fourth quarter.
Net oil-equivalent production of 1.19 million barrels per day in fourth quarter 2022 was down slightly from a year earlier as decreases in the Gulf of Mexico were partially offset by increases in the Permian Basin. The net liquids component of oil-equivalent production in fourth quarter 2022 decreased 4 percent to 895,000 barrels per day, and net natural gas production increased 4 percent to 1.79 billion cubic feet per day, compared to last year’s fourth quarter.
International Upstream |
|
|
|
|
|
|
|
|
||||||||
|
|
Three Months
|
|
Year Ended
|
||||||||||||
Millions of dollars |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
Earnings* |
|
$ |
2,867 |
|
|
$ |
2,185 |
|
|
$ |
17,663 |
|
$ |
8,499 |
||
*Includes foreign currency effects |
|
$ |
(83 |
) |
|
$ |
(9 |
) |
|
$ |
816 |
|
|
$ |
302 |
|
International upstream operations earned $2.87 billion in fourth quarter 2022, compared with $2.19 billion a year ago. The increase in earnings was primarily due to higher realizations, partially offset by write-off and impairment charges, and an unfavorable foreign exchange impact of $74 million compared to last year’s fourth quarter.
The average sales price for crude oil and natural gas liquids in fourth quarter 2022 was $78 per barrel, up from $74 a year earlier. The average sales price of natural gas was $10.35 per thousand cubic feet in the fourth quarter, up from $7.90 in last year’s fourth quarter.
Net oil-equivalent production of 1.82 million barrels per day in fourth quarter 2022 was down 82,000 barrels per day from fourth quarter 2021. The decrease was primarily due to the absence of production following expiration of the Erawan concession in Thailand. The net liquids component of oil-equivalent production decreased 5 percent to 852,000 barrels per day in fourth quarter 2022, while net natural gas production decreased 4 percent to 5.80 billion cubic feet per day compared to last year’s fourth quarter.
DOWNSTREAM
U.S. Downstream |
|
|
|
|
|
|
|
|
||||||||
|
|
Three Months
|
|
Year Ended
|
||||||||||||
Millions of dollars |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
Earnings |
|
$ |
1,180 |
$ |
660 |
|
$ |
5,394 |
|
$ |
2,389 |
|||||
U.S. downstream operations reported earnings of $1.18 billion in fourth quarter 2022, compared with earnings of $660 million a year earlier. The increase was mainly due to higher margins on refined product sales, partially offset by lower earnings from the 50 percent-owned Chevron Phillips Chemical Company.
Refinery crude oil input in fourth quarter 2022 increased slightly to 888,000 barrels per day from the year-ago period.
Refined product sales of 1.24 million barrels per day were up 7 percent from the year-ago period, mainly due to higher renewable fuel sales following the Renewable Energy Group, Inc. acquisition and higher jet fuel demand.
International Downstream |
|
|
|
|
|
|
|
|
||||||||
|
|
Three Months
|
|
Year Ended
|
||||||||||||
Millions of dollars |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
Earnings* |
|
$ |
591 |
|
|
$ |
100 |
|
|
$ |
2,761 |
|
|
$ |
525 |
|
*Includes foreign currency effects |
|
$ |
(112 |
) |
|
$ |
2 |
|
$ |
235 |
|
$ |
185 |
|||
International downstream operations reported earnings of $591 million in fourth quarter 2022, compared with $100 million a year earlier. The increase was mainly due to higher margins on refined product sales, partially offset by an unfavorable swing in foreign currency effects of $114 million compared to last year’s fourth quarter.
Refinery crude oil input of 653,000 barrels per day in fourth quarter 2022 increased 8 percent from the year-ago period as refinery runs increased due to higher demand.
Refined product sales of 1.44 million barrels per day in fourth quarter 2022 increased 9 percent from the year-ago period, mainly due to higher jet fuel demand as restrictions from the pandemic continue to ease.
ALL OTHER
|
|
Three Months
|
|
Year Ended
|
||||||||||||
Millions of dollars |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
Net Charges* |
|
$ |
(903 |
) |
|
$ |
(860 |
) |
|
$ |
(2,974 |
) |
|
$ |
(3,107 |
) |
*Includes foreign currency effects |
|
$ |
(210 |
) |
|
$ |
(33 |
) |
|
$ |
(382 |
) |
|
$ |
(181 |
) |
All Other consists of worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities and technology companies.
Net charges in fourth quarter 2022 were $903 million, compared to $860 million a year earlier. The increase in net charges between periods was mainly due to the absence of fourth quarter 2021 favorable tax items and unfavorable foreign currency effects of $177 million, partially offset by the absence of losses on early retirement of debt in the year-ago period.
CASH FLOW FROM OPERATIONS
Cash flow from operations in 2022 was $49.6 billion, compared with $29.2 billion in 2021. Excluding working capital effects, cash flow from operations in 2022 was $47.5 billion, compared with $30.5 billion in 2021.
CAPITAL AND EXPLORATORY EXPENDITURES
Capital and exploratory expenditures for the company’s consolidated entities (C&E) in 2022 were $12.3 billion, compared with $8.6 billion in 2021. Additionally, the company’s share of equity affiliate capital and exploratory expenditures (Affiliate C&E) was $3.4 billion in 2022 and $3.2 billion in 2021 and did not require cash outlays by the company. C&E for 2022 includes $1.3 billion of inorganic spend largely associated with the formation of the Bunge joint venture and acquisition of the remaining interest in Beyond6. The acquisition of Renewable Energy Group, Inc. is not included in the company’s C&E.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
NOTICE
Chevron’s discussion of fourth quarter 2022 earnings with security analysts will take place on Friday, January 27, 2023, at 8:00 a.m. PT. A webcast of the meeting will be available in a listen-only mode to individual investors, media, and other interested parties on Chevron’s website at www.chevron.com under the “Investors” section. Prepared remarks for today’s call, additional financial and operating information and other complementary materials will be available prior to the call at approximately 3:30 a.m. PT and located under “Events and Presentations” in the “Investors” section on the Chevron website.
As used in this news release, the term “Chevron” and such terms as “the company,” “the corporation,” “our,” “we,” “us” and “its” may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.
Please visit Chevron’s website and Investor Relations page at www.chevron.com and www.chevron.com/investors, LinkedIn: www.linkedin.com/company/chevron, Twitter: @Chevron, Facebook: www.facebook.com/chevron, and Instagram: www.instagram.com/chevron, where Chevron often discloses important information about the company, its business, and its results of operations.
Non-GAAP Financial Measures - This news release includes adjusted earnings/(loss), which reflect earnings or losses excluding significant non-operational items including impairment charges, write-offs, severance costs, gains on asset sales, unusual tax items, effects of pension settlements and curtailments, foreign currency effects and other special items. We believe it is useful for investors to consider this measure in comparing the underlying performance of our business across periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income (loss) as prepared in accordance with U.S. GAAP. A reconciliation to net income (loss) attributable to Chevron Corporation is shown in Attachment 6.
This news release also includes cash flow from operations excluding working capital, free cash flow and free cash flow excluding working capital. Cash flow from operations excluding working capital is defined as net cash provided by operating activities less net changes in operating working capital, and represents cash generated by operating activities excluding the timing impacts of working capital. Free cash flow is defined as net cash provided by operating activities less cash capital expenditures and generally represents the cash available to creditors and investors after investing in the business. Free cash flow excluding working capital is defined as net cash provided by operating activities excluding working capital less cash capital expenditures and generally represents the cash available to creditors and investors after investing in the business excluding the timing impacts of working capital. The company believes these measures are useful to monitor the financial health of the company and its performance over time. A reconciliation of cash flow from operations excluding working capital, free cash flow and free cash flow excluding working capital are shown in Attachment 3.
This news release also includes net debt ratio. Net debt ratio is defined as total debt less cash and cash equivalents and marketable securities as a percentage of total debt less cash and cash equivalents and marketable securities, plus Chevron Corporation stockholders’ equity, which indicates the company’s leverage, net of its cash balances. The company believes this measure is useful to monitor the strength of the company’s balance sheet. A reconciliation of net debt ratio is shown in Attachment 2.
Key Performance Indicators - Capital and exploratory expenditures (“C&E”) is a key performance indicator that provides the Company’s investment level in its consolidated companies. This metric includes additions to fixed asset and investment accounts along with exploration expense for its consolidated companies. Management uses this metric along with Affiliate C&E (as defined below) to manage allocation of capital across the company’s entire portfolio, funding requirements and ultimately shareholder distributions. The calculation of C&E is shown in Attachment 4.
Equity affiliate capital and exploratory expenditures (“Affiliate C&E”) is also a key performance indicator that provides the Company’s share of investments in its significant equity affiliate companies. This metric includes additions to fixed asset and investment accounts along with exploration expense in the equity affiliate companies’ financial statements. Management uses this metric to assess possible funding needs and/or shareholder distribution capacity of the company’s equity affiliate companies. Together with C&E, management also uses Affiliate C&E to manage allocation of capital across the company’s entire portfolio, funding requirements and ultimately shareholder distributions. Affiliate C&E is in Attachment 4.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management’s current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic, market and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; higher inflation and related impacts; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company's 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Attachment 1 |
|||||||||||||||
CHEVRON CORPORATION - FINANCIAL REVIEW |
|||||||||||||||
(Millions of Dollars, Except Per-Share Amounts) |
|||||||||||||||
(unaudited) |
|||||||||||||||
CONSOLIDATED STATEMENT OF INCOME(1) |
|
|
|||||||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
REVENUES AND OTHER INCOME |
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
Sales and other operating revenues |
$ |
54,523 |
|
$ |
45,861 |
|
$ |
235,717 |
|
$ |
155,606 |
||||
Income (loss) from equity affiliates |
|
1,623 |
|
|
|
1,657 |
|
|
|
8,585 |
|
|
|
5,657 |
|
Other income (loss) |
|
327 |
|
|
|
611 |
|
|
|
1,950 |
|
|
|
1,202 |
|
Total Revenues and Other Income |
|
56,473 |
|
|
|
48,129 |
|
|
|
246,252 |
|
|
|
162,465 |
|
COSTS AND OTHER DEDUCTIONS |
|
|
|
|
|
|
|
||||||||
Purchased crude oil and products |
|
32,570 |
|
|
|
28,046 |
|
|
|
145,416 |
|
|
|
92,249 |
|
Operating expenses (2) |
|
7,891 |
|
|
|
6,864 |
|
|
|
29,321 |
|
|
|
25,428 |
|
Exploration expenses |
|
453 |
|
|
|
192 |
|
|
|
974 |
|
|
|
549 |
|
Depreciation, depletion and amortization |
|
4,764 |
|
|
|
4,813 |
|
|
|
16,319 |
|
|
|
17,925 |
|
Taxes other than on income |
|
864 |
|
|
|
1,074 |
|
|
|
4,032 |
|
|
|
3,963 |
|
Interest and debt expense |
|
123 |
|
|
|
155 |
|
|
|
516 |
|
|
|
712 |
|
Total Costs and Other Deductions |
|
46,665 |
|
|
|
41,144 |
|
|
|
196,578 |
|
|
|
140,826 |
|
Income (Loss) Before Income Tax Expense |
|
9,808 |
|
|
|
6,985 |
|
|
|
49,674 |
|
|
|
21,639 |
|
Income tax expense (benefit) |
|
3,430 |
|
|
|
1,903 |
|
|
|
14,066 |
|
|
|
5,950 |
|
Net Income (Loss) |
|
6,378 |
|
|
|
5,082 |
|
|
|
35,608 |
|
|
|
15,689 |
|
Less: Net income (loss) attributable to noncontrolling interests |
|
25 |
|
|
|
27 |
|
|
|
143 |
|
|
|
64 |
|
NET INCOME (LOSS) ATTRIBUTABLE TO CHEVRON CORPORATION |
$ |
6,353 |
|
|
$ |
5,055 |
|
|
$ |
35,465 |
|
|
$ |
15,625 |
|
|
|
|
|
|
|
|
|
||||||||
(1) Prior year data has been reclassified in certain cases to conform to the 2022 presentation basis. |
|||||||||||||||
(2) Includes operating expense, selling, general and administrative expense, and other components of net periodic benefit costs |
|||||||||||||||
|
|
|
|
|
|
|
|
||||||||
PER SHARE OF COMMON STOCK |
|
|
|
|
|
|
|
||||||||
Net Income (Loss) Attributable to Chevron Corporation |
|
|
|
|
|
|
|
|
|
||||||
- Basic |
$ |
3.34 |
|
|
$ |
2.63 |
|
|
$ |
18.36 |
|
|
$ |
8.15 |
|
- Diluted |
$ |
3.33 |
|
|
$ |
2.63 |
|
|
$ |
18.28 |
|
|
$ |
8.14 |
|
Weighted Average Number of Shares Outstanding (000's) |
|
|
|
|
|
|
|
|
|
|
|
||||
- Basic |
|
1,910,602 |
|
|
|
1,915,440 |
|
|
|
1,931,486 |
|
|
|
1,915,989 |
|
- Diluted |
|
1,919,731 |
|
|
|
1,922,082 |
|
|
|
1,940,277 |
|
|
|
1,920,275 |
|
|
|
|
|
|
|
|
|
||||||||
Note: Shares outstanding (excluding 14 million associated with Chevron’s Benefit Plan Trust) were 1,901 million and 1,916 million at December 31, 2022 and December 31, 2021, respectively. |
|||||||||||||||
Randy Stuart -- +1 713-283-8609
DUBLIN--(BUSINESS WIRE)--The "Thermal Hydrolysis Technology Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Type (Biothelys Thermal Hydrolysis, Exelys Thermal Hydrolysis), By End Use, By Solution, By Region" report has been added to ResearchAndMarkets.com's offering.
The global thermal hydrolysis technology market is anticipated to register robust growth with a significant CAGR in the forecast period, 2023-2027.
The market growth can be attributed to growing adoption of thermal hydrolysis technology across various end-use industries, owing to its benefits such as increased biogas production, better digester loading rates, enhanced biodegradability of wastewater residuals, etc.
Thermal hydrolysis exposes sewage sludge to high temperature and pressure, due to which the volatile solids in the sewage sludge get transformed into biogas during anaerobic digestion. Hence, the growing demand for biogas, considered to be an environment-friendly alternative to fossil fuel sources, is supporting the market growth for thermal hydrolysis technology. Emerging number of market players introducing advances in the thermal hydrolysis are also fueling demand for the technology.
Many wastewater management facilities are increasingly investing to adapt the thermal hydrolysis technology to cut down their disposal costs and increase savings in biosolids and enhance dewaterability. Moreover, enhanced focus of government on green energy production utilizing waste generated from sewage is expected to boost the growth of the global thermal hydrolysis technology market.
Thermal Hydrolysis Technology Drives the Circular Economy Through Waste Management
The rapid urbanization across the globe has resulted in an increased amount of wastewater, biowaste, and sewage sludge. This untreated waste poses a risk to the environment and human health. To address this concern, wastewater processing facilities are looking for sustainable and cost-effective alternatives to treat biowaste and sewage sludge and harvest valuable resources from the waste generated.
Therefore, several market leaders are introducing innovative solutions such as thermal hydrolysis technology that helps in treating biowaste in a sustainable manner. For instance, Cambi, a world leader in the thermal hydrolysis process, has introduced a sustainable sludge management solution to convert biowaste into a valuable resource. The utilities adopting Cambi's thermal hydrolysis process can improve the bottom line while contributing to the circular economy.
Production of High-Quality Biogas and Biosolids Facilitates the Market Growth
Integrating thermal hydrolysis with wastewater processing units can yield a large volume of biogas. Some of this surplus biogas is utilized for generating steam that is needed for thermal hydrolysis, and some to power the additional processes. Apart from this, the farmers spend a lot on nitrogen and phosphorus fertilizers.
Biosolid produces from the thermal hydrolysis process are rich in nitrogen and phosphorus, are free of pathogens, and have a low pungent smell. Therefore, reusing biosolids as a fertilizer minimizes the overall cost for farmers, reduces management costs for utility companies, and provides a real environmental benefit through sustainable reuse.
Companies Mentioned
Report Scope:
In this report, global thermal hydrolysis technology market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Thermal Hydrolysis Technology Market, By Type:
Thermal Hydrolysis Technology Market, By End Use:
Thermal Hydrolysis Technology Market, By Solution:
Thermal Hydrolysis Technology Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/aqqyhn
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ROCKVILLE, Md. & BRISTOL, England--(BUSINESS WIRE)--X-Energy Reactor Company, LLC (“X-energy” or the “Company”), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, announced that more than 70 British engineering, construction and manufacturing companies this week joined X-energy UK Holdings, a wholly owned subsidiary of X-energy, and deployment partner Cavendish Nuclear, part of Babcock International group, for a program of presentations and meetings in Bristol, to explore how they can support the roll-out of advanced nuclear power stations in the UK.
The plan is to deliver a fleet of advanced, small modular Xe-100 reactors in the UK to address the challenges of energy security and decarbonization, with the first unit planned for commercial operation in 2030 and a goal to secure up to 80% of its construction and manufacturing from the UK supply chain. The technology is more compact than traditional nuclear plants with factory-built components easily assembled on site, making each one cheaper and quicker to construct, and with a greater range of available locations.
The reactors are designed to be capable of producing both electricity and higher-temperature heat and steam than conventional ‘small modular reactors’ and can supply electricity and heat for hydrogen production and replace fossil fuel-generated heat for industrial processes.
In addition, the spherical fuel ‘pebbles’ that act as containment vessels in themselves, are able to withstand extremely high temperatures and naturally remain stable in the event of any foreseeable disruptions. This intrinsic safety reduces the need for many of the largest, most expensive and time-consuming structures and systems found in traditional nuclear plants.
The Xe-100 can deliver reliable ‘always-on’ electricity as well as increase or decrease power levels safely within minutes to respond to varying demand or supply, making it an ideal complement to weather-dependent renewable energy, and reducing the need for gas-fired power stations or battery storage as a backup.
Carol Tansley, X-energy’s Vice President of UK New Build Projects said: “Until now it’s been widely expected that advanced reactors would not be ready until around 2040 at the earliest, but X-energy’s technology is ready for the market and advanced in its design and applications.
“We’re in discussions with various parties regarding siting options in the UK. The ability to significantly reduce emissions from industrial heat applications makes it a great technology for sites like Hartlepool on Teesside, which is already home to a nuclear power station.
“We’re keen to see the Government press ahead with its ambitious plans for a program of nuclear power stations, including the establishment of the Great British Nuclear body. We believe we can follow hard on the heels of our US program and deliver first power around 2030, supporting the UK’s energy security and environmental goals, in particular the drive to deliver 24GW of new nuclear power by 2050.”
Mick Gornall, Cavendish Nuclear Managing Director said: “We are looking to source components, systems, goods, services and a skilled workforce right here in the UK. We’re delighted to have had such a positive response to our first supplier outreach.”
X-energy and Cavendish Nuclear have applied for funding from the UK Government’s Future Nuclear Enabling Fund to support a Generic Design Assessment and supply chain development activities for the first project.
X-energy is already progressing its US Government-endorsed plans to build a ‘four-pack’ of its Xe-100 reactors in the USA with generation within the decade. It has also begun construction of a fuel fabrication facility for its proprietary advanced TRISO-X fuel in Tennessee. The Company has raised over £1.5bn in US Government funding and private sector investment. Last year X-energy signed framework customer agreements with chemical company Dow in the US and Ontario Power Generation in Canada.
The Xe-100 builds on years of technological progress, evolving from both the UK’s Dragon reactor at Winfrith in Dorset and the Pebble Bed Modular Reactor project in South Africa, which was supported by the UK Government.
Deployable singly or in multiples, each reactor produces around 80 megawatts of electricity or 200 megawatts of the high-quality heat which is seen as essential for ‘deep decarbonization’ of heavy industry.
The reactor is an ideal successor to the British Advanced Gas-cooled Reactor fleet, given the UK’s rich knowledge of gas graphite reactors. It uses tri-structural isotropic particle (TRISO) fuel, first patented in the UK in 1957. The highly-robust fuel pebbles encase uranium inside layers of carbon and ceramic based protection, preventing the release of fission products.
As previously announced on December 6, 2022, X-energy has entered into a definitive business combination agreement with Ares Acquisition Corporation (NYSE: AAC), a publicly-traded special purpose acquisition company, which will establish X-energy as a public company. Upon the closing of the transaction, which is expected to be completed in the second quarter of 2023, the combined company will be named X-Energy, Inc. and its common equity securities and warrants are expected to be listed on the New York Stock Exchange.
Completion of the transaction is subject to approval by AAC’s shareholders, the Registration Statement being declared effective by the US Securities and Exchange Commission (the “SEC”), and other customary closing conditions.
About X-Energy UK Holdings, Ltd.
X-Energy UK Holdings, Ltd. is a wholly-owned subsidiary of X-Energy Reactor Company, LLC, a leading developer of small modular nuclear reactor and fuel technology for clean energy generation that is redefining the nuclear energy industry through its development of safer and more efficient advanced small modular nuclear reactors and proprietary fuel to deliver reliable, zero-carbon and affordable energy to people around the world.
X-energy’s simplified, modular and intrinsically safe advanced modular reactor design expands applications and markets for deployment of nuclear technology and drives enhanced safety, lower cost and faster construction timelines when compared with other small modular reactors and conventional nuclear. For more information, visit X-energy.com or connect with us on Twitter or LinkedIn.
About X-Energy Reactor Company, LLC
X-Energy Reactor Company, LLC, is a leading developer of small modular nuclear reactor and fuel technology for clean energy generation that is redefining the nuclear energy industry through its development of safer and more efficient advanced small modular nuclear reactors and proprietary fuel to deliver reliable, zero-carbon and affordable energy to people around the world. X-energy’s simplified, modular and intrinsically safe advanced modular reactor design expands applications and markets for deployment of nuclear technology and drives enhanced safety, lower cost and faster construction timelines when compared with other SMRs and conventional nuclear. For more information, visit X-energy.com or connect with us on Twitter or LinkedIn.
About Cavendish Nuclear
From decommissioning redundant nuclear facilities and supporting the UK’s Clean Energy commitment through Nuclear New Build and development of Advanced Nuclear Technologies, through to helping keep the UK’s fleet of nuclear-powered submarines at sea, our role in Cavendish Nuclear is to enable a world where nuclear plays a key contribution in protecting our nation, ensuring security of energy supply and meeting our net zero commitments – Creating a safe and secure world, together.
Nuclear has a vital role in delivering net zero by 2050, we are passionate about the key role that we play in that. Clean energy is a core focus for Cavendish Nuclear through our support to existing reactors, the construction of Hinkley Point C and Sizewell C, and our work to develop advanced nuclear technologies for the future.
For more information, visit www.cavendishnuclear.com or connect with us on LinkedIn
About Ares Acquisition Corporation
AAC is a special purpose acquisition company (SPAC) affiliated with Ares Management Corporation, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. AAC is seeking to pursue an initial business combination target in any industry or sector in North America, Europe or Asia. For more information about AAC, please visit www.aresacquisitioncorporation.com.
Additional Information and Where to Find It
In connection with the business combination (the “Business Combination”) with X-energy, AAC has filed the registration statement on Form S-4 (the “Registration Statement”) with the SEC, which includes a preliminary proxy statement/prospectus to be distributed to holders of AAC’s ordinary shares in connection with AAC’s solicitation of proxies for the vote by AAC’s shareholders with respect to the Business Combination and other matters as described in the Registration Statement, as well as a prospectus relating to the offer of securities to be issued to X-energy equity holders in connection with the Business Combination. After the Registration Statement has been filed and declared effective, AAC will mail a copy of the definitive proxy statement/prospectus, when available, to its shareholders. The Registration Statement includes information regarding the persons who may, under the SEC rules, be deemed participants in the solicitation of proxies to AAC’s shareholders in connection with the Business Combination. AAC will also file other documents regarding the Business Combination with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF AAC AND X-ENERGY ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN, AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION.
Investors and security holders will be able to obtain free copies of the Registration Statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by AAC through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by AAC may be obtained free of charge from AAC’s website at www.aresacquisitioncorporation.com or by written request to AAC at Ares Acquisition Corporation, 245 Park Avenue, 44th Floor, New York, NY 10167.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the Business Combination, including statements regarding the benefits of the Business Combination, the anticipated timing of the Business Combination, the markets in which X-energy operates and X-energy’s projected future results. X-energy’s actual results may differ from its expectations, estimates and projections (which, in part, are based on certain assumptions) and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Although these forward-looking statements are based on assumptions that X-energy and AAC believe are reasonable, these assumptions may be incorrect. These forward-looking statements also involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted in connection with any proposed business combination; (2) the inability to complete any proposed business combination or related transactions; (3) inability to raise sufficient capital to fund our business plan, including limitations on the amount of capital raised in any proposed business combination as a result of redemptions or otherwise; (4) delays in obtaining, adverse conditions contained in or the inability to obtain necessary regulatory approvals or complete regulatory reviews required to complete any business combination; (5) the risk that any proposed business combination disrupts current plans and operations; (6) the inability to recognize the anticipated benefits of any proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees; (7) costs related to the proposed business combination; (8) changes in the applicable laws or regulations; (9) the possibility that X-energy may be adversely affected by other economic, business and/or competitive factors; (10) the ongoing impact of the global COVID-19 pandemic; (11) economic uncertainty caused by the impacts of the conflict in Russia and Ukraine and rising levels of inflation and interest rates; (12) the ability of X-energy to obtain regulatory approvals necessary for it to deploy its small modular reactors in the United States and abroad; (13) whether government funding and/or demand for high assay low enriched uranium for government or commercial uses will materialize or continue; (14) the impact and potential extended duration of the current supply/demand imbalance in the market for low enriched uranium; (15) X-energy’s business with various governmental entities is subject to the policies, priorities, regulations, mandates and funding levels of such governmental entities and may be negatively or positively impacted by any change thereto; (16) X-energy’s limited operating history makes it difficult to evaluate its future prospects and the risks and challenges it may encounter; and (17) other risks and uncertainties separately provided to you and indicated from time to time described in filings and potential filings by X-energy, AAC or X-energy, Inc. with the SEC.
The foregoing list of factors is not exhaustive. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by investors as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AAC’s Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, the proxy statement/prospectus related to the transaction, when it becomes available, and other documents filed (or to be filed) by AAC from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These risks and uncertainties may be amplified by the conflict between Russia and Ukraine, rising levels of inflation and interest rates and the ongoing COVID-19 pandemic, which have caused significant economic uncertainty. Forward-looking statements speak only as of the date they are made. Investors are cautioned not to put undue reliance on forward-looking statements, and X-energy and AAC assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities and other applicable laws.
No Offer or Solicitation
This press release is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities or the solicitation of any vote in any jurisdiction pursuant to the Business Combination or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Participants in the Solicitation
AAC and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from AAC’s shareholders, in favor of the approval of the proposed transaction. For information regarding AAC’s directors and executive officers, please see AAC’s Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, and the other documents filed (or to be filed) by AAC from time to time with the SEC. Additional information regarding the interests of those participants and other persons who may be deemed participants in the Business Combination may be obtained by reading the registration statement and the proxy statement/prospectus and other relevant documents filed with the SEC when they become available. Free copies of these documents may be obtained as described in the preceding paragraph.
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Ares Acquisition Corporation
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DUBLIN--(BUSINESS WIRE)--The "Wind Power Market in India 2022 - 2027" report has been added to ResearchAndMarkets.com's offering.
The cumulative installed wind power capacity stood at 40.36 GW in FY 2022. It is expected to reach 52.48 GW by FY 2027, expanding at a CAGR of 5.84% during the FY 2023 - FY 2027 forecast period.
Wind power or wind energy harnesses the wind to generate mechanical power or electricity. Wind turbines convert wind kinetic energy into mechanical power, which can be used for specific tasks (such as grain grinding or water pumping) or converted into electricity by a generator.
The growth of the wind power capacity has resulted in a robust ecosystem, enhanced project operation capabilities, and a manufacturing base of approximately 10,000 MW per year.
Government initiatives:
The Ministry of Power has extended the waiver on charges of the Inter-State Transmission System (ISTS) on the electricity transmission generated by solar and wind sources for projects scheduled to be completed by June 30, 2025.
Furthermore, the order encourages the development of solar, wind, hydro-pumped storage plants (PSPs), and battery energy storage systems (BESS), along with the trading of renewable energy (RE) in power exchanges and the seamless transmission of RE power across states.
COVID-19 impact analysis:
All energy consumptions related to aviation, transportation, commercial activities, and industry have decreased dramatically due to the severe lockdown measures, while residential activities have significantly increased.
As most business activities came to a standstill, there was a remarkable drop in power demand (up to 30%) that led to a 25% fall in exchange prices during the peak of the pandemic in 2020. The demand from commercial and industrial (C&I) consumers had declined by about 18% during the 2020 - 2021 period.
Key Topics Covered:
Chapter 1: Executive Summary
Chapter 2: Socio-economic Indicators
Chapter 3: Introduction
3.1. Market definition and structure
3.2. Government organizations that control the renewable energy market
Chapter 4: Global Wind Power Market - An Overview
4.1. Global ranking in terms of installed wind power capacity (GW) (2020)
4.2. Global ranking in terms of share of wind energy in their electricity mix (2020)
Chapter 5: Wind Power Market in India - An Overview
5.1. Wind power market in India - An Overview
5.1.1. Wind power installed capacity and growth forecast (FY 2021 - FY 2027e)
5.1.2. Wind power capacity addition (FY 2011 - FY 2022)
5.1.3. Wind power generation in billion units (FY 2014 - FY 2022)
5.1.4 Share of wind generation in total power generation (FY 2014- FY 2022)
5.1.5. Total installed power capacity (FY 2011 - FY 2022)
5.1.6. Share of wind power out of total power capacity (FY 2011 - FY 2022)
Chapter 6: Wind Power Market in India - Segmentation
6.1. Region-wise wind power installed capacity
6.1.1. State wise wind power installed capacity (as of September 2022)
6.1.2. Region-wise Wind Power Repowering Potential Capacity
6.1.3. State wise wind potential at 100 m
6.1.4. State wise wind potential at 120 m
Chapter 7: Government Initiatives
7.1. Government initiatives
Chapter 8: Impact of COVID-19
8.1. Impact of COVID-19
Chapter 9: Trade Analysis
9.1. Trade Analysis
Chapter 10: Market Influencers
10.1. Market drivers
10.2. Market challenges
Chapter 11: Competitive Landscape
11.1. Adani Power Limited
11.2. Indowind Energy Limited
11.3. Orient Green Power Limited
11.4. ReNew Energy Global Plc
11.5. Suzlon Energy Limited
11.6. The Tata Power Company Limited
11.7. Torrent Power Limited
11.8. Chiranjjeevi Wind Energy Limited
11.9. Sembcorp Energy India Limited
11.10. Wind World (India) Limited
Chapter 12: Recent Developments
For more information about this report visit https://www.researchandmarkets.com/r/3wdvlm-power-market?w=4
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AMSTERDAM & LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced how it intends to implement the European Union’s Market Correction Mechanism Regulation (MCM Regulation) and related price cap on TTF natural gas derivatives, in time for entry into force of the regulation.
ICE Endex, based in the Netherlands and operator of the world’s most liquid trading venue for TTF natural gas futures and options, plans to change its Rulebook to promote compliance with the MCM Regulation, effective February 15, 2023, subject to completion of relevant regulatory processes.
Once the MCM Regulation enters into force, the Rules of ICE Endex will forbid market participants from submitting orders to the exchange order book in TTF derivatives above the price cap when the correction mechanism is activated, unless clients are eligible to make use of the exemptions granted in the Regulation. For details on the intended Rulebook changes and related guidance in respect of the MCM Regulation, please see https://www.theice.com/endex/circulars.
At the end of each trading day, ICE Endex determines and publishes settlement prices for all contracts listed on the exchange. The existing methodology and approach used to determine and publish these prices will remain unchanged to ensure that settlement prices continue to reflect fair market value of TTF futures and option contracts. This may mean that settlement prices of TTF futures and options may deviate from the price cap when it is not reflecting fair market value.
Meanwhile, ICE’s extensive engagement with customers confirms that they require continued access to a market which supports them in their need to manage risk, seamlessly hedge, and access and participate in the price discovery process, regardless of the level of the natural gas price. Therefore, ICE is preparing to launch a parallel market for TTF futures and options contracts on its London-based exchange ICE Futures Europe from February 20, 2023, subject to completion of relevant regulatory processes. This will provide market participants with optionality in the event the natural gas price rises, and the risk of the MCM price cap being triggered increases.
“ICE’s purpose is to create markets to allow our customers to manage their risk and we have a duty to our customers to provide solutions to the problems they face,” said Trabue Bland, SVP, Futures Exchanges at ICE. “We plan to implement the MCM on TTF contracts traded from ICE Endex in a manner that will preserve the market structure as best as possible. Simultaneously, we are preparing an alternative venue in London to act as an insurance option for customers if the MCM prevents them from trading and adequately managing their risk exposure.”
TTF futures contracts on ICE Futures Europe will mirror those on ICE Endex but will not be subject to the MCM Regulation and related TTF price cap. They will be physically delivered, whereby contracts held to expiry will result in the delivery of natural gas at the Dutch Title Transfer Facility (TTF) Virtual Trading Point.
ICE Futures Europe is already home to many of ICE’s natural gas markets. This includes the successful TTF 1st line contract which plays an integral role in pricing and risk management of global natural gas portfolios; ICE’s UK gas benchmark NBP; ICE JKM LNG (Platts), the benchmark price for natural gas for North-East Asia; the newly listed LNG futures for North-West Europe and South-West Europe, and the German THE, French PEG, and Italian PSV Natural Gas 1st line contracts.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on February 3, 2022.
Category: EXCHANGES
ICE- CORP
Source: Intercontinental Exchange
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+44 7951 057 351
ICE Investor Contact:
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(678) 981-3882
DUBLIN--(BUSINESS WIRE)--The "The Solar Power, Wind Power & Renewable Energy Industry Almanac 2023: Solar Power, Wind Power & Renewable Energy Industry Market Research, Statistics, Trends and Leading Companies" book from Plunkett Research Ltd has been added to ResearchAndMarkets.com's offering.
This feature-rich report covers competitive intelligence, market research and business analysis - everything you need to know about the Solar Power, Wind Power & Renewable Energy Industry.
A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the Solar Power, Wind Power & Renewable Energy Industry. Gain vital insights that can help shape strategy for business development, product development and investments.
Key Features:
Additional Key Features Include:
Pages: 406
Statistical Tables Provided: 20
Companies Profiled: 250
Geographic Focus: Global
Key Questions Answered Include:
Major Trends Affecting the Solar Power, Wind Power & Renewable Energy Industry
Solar Power, Wind Power & Renewable Energy Industry Statistics
Companies Mentioned
For more information about this book visit https://www.researchandmarkets.com/r/bv3t2l-solar-power?w=4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) today announced that its Board of Directors has declared a quarterly cash dividend of $0.395 per common share payable on February 27, 2023 to shareholders of record as of the close of business on February 7, 2023.
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (“LNG”) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 45 million tonnes per annum (“mtpa”) of LNG in operation and an additional 10+ mtpa of expected production capacity under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Securities and Exchange Commission.
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 regulatory authorization and approval expectations, (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, and (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, share repurchases and execution on the capital allocation plan. 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
Frances Smith, 713-375-5753
Media Relations
Eben Burnham-Snyder, 713-375-5764
Upcoming ISG Provider Lens™ reports will evaluate providers of services and software enabling the industry to meet sustainability, resiliency and other requirements
STAMFORD, Conn.--(BUSINESS WIRE)--#ERP--Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched research studies examining providers of services and software platforms to the global power and utilities industry, which is adopting new technologies in response to rising demand for renewable energy and other widespread changes in its business environment and operations.
The study results on power and utilities services will be published in a comprehensive ISG Provider Lens™ report, called Power and Utilities Industry — Services and Solutions 2023, scheduled to be released in June. The report will cover companies offering services for business process management, grid modernization, asset management and customer experience. At the same time, ISG Provider Lens™ will publish the Power and Utilities Industry — Software and Platforms 2023 report, covering providers of enterprise asset management software.
Enterprise buyers will be able to use information from the reports to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
Power and utility companies face growing pressures to improve resiliency and reliability, comply with new regulations, change their mix of energy sources and respond to geopolitical disruptions. Demand for renewable energy is soaring, while the growing prevalence of extreme weather events is challenging utilities’ ability to reliably deliver services. Increasingly, the industry is turning to providers of services and software for help in adapting to new requirements, improving customer experience and developing new business models. Efficiency, security, innovation and asset management are among the industry’s growing needs.
“New technology is essential for the power and utility industry to adapt to the unprecedented changes taking place today,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Leading software and services providers empower clients to strengthen their capabilities with a minimum of technical debt.”
For the Power and Utilities Industry — Services and Solutions study, ISG has distributed surveys to approximately 100 power and utilities service providers. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the services and solutions the typical energy and utilities enterprise is buying, based on ISG’s experience working with its clients. The five quadrants are:
For the Power and Utilities Industry — Software and Platforms study, ISG has distributed surveys to more than 30 power and utilities platform providers. The quadrant to be covered is:
The power and utilities services report will examine products and services available in North America, Europe and Australia. The software and platforms report will examine platforms for the global market. ISG analysts Swadhin Pradhan, Mohd. Aves Malik, Harish B and Sandhya Navage will serve as authors of both reports.
A list of identified providers and vendors and further details on the power and utilities services study is available in this digital brochure; details on the software and platforms report can be found in this brochure. Companies not listed in either brochure can This email address is being protected from spambots. You need JavaScript enabled to view it. and ask to be included in the study.
All 2023 ISG Provider Lens™ evaluations feature expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Will Thoretz, ISG
+1 203 517 3119
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Julianna Sheridan, Matter Communications for ISG
+1 978-518-4520
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP) today declared (i) a cash distribution of $1.07 per common unit to unitholders of record as of February 6, 2023, comprised of a base amount equal to $0.775 and a variable amount equal to $0.295, and (ii) the related distribution to its general partner. These distributions are payable on February 14, 2023.
Publicly traded partnerships that earn net income in a calendar year that is effectively connected with the conduct of a US trade or business are generally required to withhold US income tax from distributions paid to foreign persons. The portion of our quarterly cash distributions that are paid to foreign persons will generally be subject to US withholding tax.
This press release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4 and 1.446(f)-4. Please note that 100 percent of Cheniere Partners’ distributions to foreign investors are attributable to income that is effectively connected with a US trade or business and subject to withholding under Treasury Regulation Sections 1.1446-1 – 1.1446-6. Accordingly, all of Cheniere Partners’ distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Furthermore, 100 percent of Cheniere Partners’ distributions to foreign investors is in excess of cumulative net income for purposes of Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
About Cheniere Partners
Cheniere Partners owns the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, which has natural gas liquefaction facilities consisting of six liquefaction Trains with a total production capacity of approximately 30 million tonnes per annum of liquefied natural gas (“LNG”). The Sabine Pass LNG terminal also has operational regasification facilities that include five LNG storage tanks, vaporizers, and three marine berths. Cheniere Partners also owns the Creole Trail Pipeline, which interconnects the Sabine Pass LNG terminal with a number of large interstate and intrastate pipelines.
For additional information, please refer to the Cheniere Partners website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements.” 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 Partners’ financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding Cheniere Partners’ anticipated quarterly distributions and ability to make quarterly distributions at the base amount or any amount, (iii) statements regarding regulatory authorization and approval expectations, (iv) statements expressing beliefs and expectations regarding the development of Cheniere Partners’ LNG terminal and liquefaction business, (v) statements regarding the business operations and prospects of third-parties, (vi) statements regarding potential financing arrangements, and (vii) statements regarding future discussions and entry into contracts. Although Cheniere Partners 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 Partners’ 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 Partners’ 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 Partners does not assume a duty to update these forward-looking statements.
Cheniere Partners
Investors
Randy Bhatia 713-375-5479
Frances Smith 713-375-5753
Media Relations
Eben Burnham-Snyder 713-375-5764
Leading Customer Data and Experience Platform (CDXP) technology company unveils insights from 1,850 auto dealership lead response trends
DALLAS--(BUSINESS WIRE)--#autodealers--DAS Technology, the leading customer data and experience platform company, unveiled its comprehensive Customer Experience (CX) Automotive Mystery Shop Study at the opening educational sessions at the National Automobile Dealers Association (NADA) annual conference in Dallas, Texas. The study was conducted in Q3-Q4 of 2022 and includes results from over 1,850 unique inquiries in partnership with dealers representing all brands across the United States. These dealers were not already clients of DAS Technology lead response solutions. It identified four top trends and areas for improvement relating to how consumers and auto dealers interact throughout the vehicle shopping, purchase, and ownership journey.
Top 4 Takeaways:
“DAS Technology’s second Mystery Shop Study is one of the largest and most timely in our industry,” said Jason Barrie, COO of Digital Air Strike. “The study outlines consumer and dealer challenges throughout the vehicle lifecycle, provides statistics on how dealers respond to consumer inquiries online and imparts the tech solutions to solve those issues. Responding to leads fast with relevant customer information, using reviews to drive service and sales, creating engaging custom videos for customers, and taking advantage of Google are ways dealers can get a competitive edge as the inventory increases and consumer buying slows. DAS Technology has patented solutions that have proven to assist in nurturing consumers and ensuring the best consumer experience.”
According to the study, 62% of dealer responses to consumer inquiries were autoresponders with no specific vehicle information or pricing. More specifically, 45% of VDP responses didn’t include any information about the vehicle. The lack of detail allows dealers to improve the car shopping experience and closing rates for inbound inquiries.
In addition, as it relates to service and sales, the study identified specific areas of improvement related to how dealers can leverage customer testimonials to engage with consumers more effectively. The analysis identified that fewer than 1% of dealers included customer testimonials in responses, and 46% didn’t respond to Facebook comments. According to Digital Air Strike’s 9th Annual Automotive Customer Experience Trends Study released in 2022, 93% of vehicle buyers said online reviews helped their dealership selection process. There is a tremendous opportunity to leverage reviews and testimonials to support ongoing consumer communications.
“DAS Technology provides powerful technology solutions that help our dealership engage and respond to consumers faster than we could without their help, which is a big competitive advantage in today’s market,” said Kevin Cravo, sales director of Royal Automotive Group in Arizona. “DAS understands what it takes to deliver a top-notch vehicle shopping, buying, and ownership communication experience. Their technology is always evolving, and it easily integrates with our other solutions to deliver consistent and relevant messaging that gives consumers the information they want at the right time.”
Learn more about the DAS Technology full suite of solutions and pick up a copy of the Mystery Shop Study at NADA Booth #4059. Dealers and DAS Technology Partners can pick up party passes to the annual DAS Client Appreciation Party on Jan. 28, featuring performances with Nelly and The Sugarhill Gang. Space is limited. RSVP at digitalairstrike.com/nada2023. Download DAS Technology's Mystery Shop Study at digitalairstrike.com/mystery-shop.
About DAS Technology
DAS Technology is the largest automotive Customer Data and Experience Platform (CDXP), enabling over 7,800 businesses and OEMs to increase consumer response and lead conversions by leveraging patented AI-powered digital technology generating measurable ROI. A pioneer in digital response, social media marketing technology, and online reputation management solutions, DAS Technology deploys omnichannel messaging, mobile apps, software, and consumer engagement technology to monitor, respond, improve, and convert more consumers into customers for businesses in the United States, Canada, and 32 additional countries. The DAS Technology family includes Digital Air Strike, AUTOVATE, BestRide.com, and LotVantage. More information is available at www.digitalairstrike.com and www.facebook.com/digitalairstrike.
Hayley Ringle
(480) 421-5959
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- By simply paying their electricity and natural gas bills, NRG customers can create healthier futures for children -
PITTSBURGH--(BUSINESS WIRE)--NRG, one of the nation’s leading electricity and natural gas suppliers, today formally unveiled UPMC Children’s Hospital Foundation, located in Pittsburgh, as its newest Choose to Give beneficiary. Choose to Give is a program that allows NRG customers to support local nonprofits everyday by simply paying their energy bills.
Under this plan, NRG will contribute $50 to the Foundation for every electricity customer and $25 for every natural gas customer that enrolls. In addition, NRG will contribute one percent of the supply portion of each customer’s bill to the Foundation annually for as long as the customer remains on the plan. Besides helping kids, those who enroll will also get the peace of mind that comes with locking in a fixed electricity supply price for 12 months.
UPMC Children’s Hospital Foundation is the first nonprofit in Pittsburgh to benefit from the program and to receive contributions from NRG.
“We are thrilled to announce our relationship with NRG as a part of their Choose to Give program,” said Rachel Petrucelli, UPMC Children’s Hospital Foundation President. “These community contributions will work to support the hospital’s greatest needs with speed and flexibility. It’s an honor to have been selected by NRG and we look forward to ongoing support for our patients and families.”
“We’re proud to expand our Choose to Give program to Pittsburgh and to partner with an esteemed hospital beneficiary such as UPMC Children’s Hospital Foundation,” said Bucky Gardner, Vice President and General Manager of NRG Home East. “Customers can make a huge difference in the lives of children simply by doing things they do every day, like watch TV, do laundry, and play video games. Choose to Give has grown to eight nonprofits across the East Coast and Midwest, investing millions into the communities where our employees and customers live and work.”
NRG’s Choose to Give program has raised more than $9-million since launching in 2016. UPMC Children’s Hospital Foundation is the sixth children’s hospital NRG’s Choose to Give program supports. The other five are based in Chicago, Philadelphia, Boston, Columbus, OH, and Wilmington, DE.
To learn more about NRG’s UPMC Children’s Hospital Foundation Choose to Give plan, visit picknrg.com/upmc.
About NRG
NRG Energy is a leading energy and home services company powered by people and our passion for a smarter, cleaner, and more connected future. A Fortune 500 company operating in the United States and Canada, NRG delivers innovative solutions that help people, organizations, and businesses achieve their goals, while also advocating for competitive energy markets and customer choice. More information is available at www.nrg.com. Connect with NRG on Facebook, and LinkedIn, and follow us on Twitter, @nrgenergy.
About UPMC Children’s Hospital Foundation
UPMC Children’s Hospital Foundation is the catalyst that unites communities and contributors to create healthier futures for all children through life-changing care and cutting-edge research. As the sole fundraising arm of UPMC Children’s Hospital of Pittsburgh, we support their vision of being the world leader in pediatric health care, education, and discovery. The Foundation is a public charity under 501(c)(3) and 170(b)(1)(A) of the Internal Revenue Service Code. For more information, visit www.givetochildrens.org.
NRG
Dave Schrader, Senior Manager Communications East
267-295-5768
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UPMC Children’s Hospital Foundation
Joey Warren, Director of Cause Marketing
412-692-3921
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DUBLIN--(BUSINESS WIRE)--The "Digital Oilfield - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
Global Digital Oilfield Market to Reach $34.4 Billion by 2030
The global market for Digital Oilfield estimated at US$23.6 Billion in the year 2022, is projected to reach a revised size of US$34.4 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2022-2030.
Hardware, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$19.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software & Services segment is readjusted to a revised 4.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $6.9 Billion, While China is Forecast to Grow at 4.6% CAGR
The Digital Oilfield market in the U.S. is estimated at US$6.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$6.1 Billion by the year 2030 trailing a CAGR of 4.6% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 4.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia's war on Ukraine will play out this year and the war's role in creating global instability means that the trouble on the inflation front is not over yet.
Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What's New?
Key Topics Covered:
MARKET OVERVIEW
FOCUS ON SELECT PLAYERS
MARKET TRENDS & DRIVERS
GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/f4zgu7-oilfield?w=4.
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
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