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    Argentina Petrochemicals 22 Jun 22 - INDUSTRY SNAPSHOTS


    June 22, 2022 - Acquisdata Industry Snapshot

     

      LATEST COMPANY NEWS

      Oil & Gas Journal - Energía Argentina signs Tenaris to supply Vaca Muerta pipes - 18/6/2022

      Energía Argentina has signed Tenaris to supply welded pipes for Stage 1 construction of the Presidente Nestor Kirchner Gas Pipeline, which will move Vaca Muerta shale natural gas from Tratayén, Neuquén province, to Saliquelló, in Buenos Aires province.

      For the complete story see:

      https://www.ogj.com/pipelines-transportation/pipelines/article/14278405/energa-argentina-signs-tenaris-to-supply-vaca-muerta-pipes

      BNamericas - Argentina oil and gas watch: Petroquímica Comodoro Rivadavia investment, national hydrocarbons output - 14/6/2022

      Argentine province Mendoza granted a 10-year extension to a hydrocarbons extraction license held by local construction, power and oil and gas firm Petroquímica Comodoro Rivadavia (PCR).

      For the complete story see:

      https://www.bnamericas.com/en/news/argentina-oil-and-gas-watch-petroquimica-comodoro-rivadavia-investment-national-hydrocarbons-output

      Bloomberg.com - Argentina's Shale-Gas Pipe Project Clouded by Political Scandal - 13/6/2022

      A proposed cross-country pipeline that would unlock Argentina's vast natural gas reserves has been ensnared in political controversy and a legal investigation that may delay construction and worsen energy shortages.

      For the complete story see:

      https://www.bloomberg.com/news/articles/2022-06-13/argentina-s-shale-gas-pipe-project-clouded-by-political-scandal

      Other Stories

      BNamericas - Chile and Argentina agree on energy exchange - 13/6/2022

      BNamericas - YPF explores quantum computing for the development of the energy transition together with Microsoft - 13/6/2022

      BNamericas - Ex-energy secretary: Argentina diesel crisis proves biofuels law concerns justified - 11/6/2022

      Natural Gas Intelligence - Argentina Launches Tender for Vaca Muerta to Buenos Aires Natural Gas Pipeline - 6/6/2022

      BNamericas - Argentina province receives bids for gas pipeline expansion work - 3/6/2022

      Media Releases

      Air Liquide - Air Liquide steps up its renewable energy sourcing by signing in the Netherlands the Group's largest long-term Power Purchase Agreement - 21/6/2022

      Air Liquide - Air Liquide and Groupe ADP announce their ambition to create the first joint venture to facilitate the development of hydrogen infrastructure at airports - 15/6/2022

      Latest Research

      Overview Of The Exploration Potential Of Offshore Argentina - Insight From New Seismic Interpretations. - By Steve DeVito And Hannah Kearns.

      Industry Overview

      Argentina Petrochemicals

      Overviews of Leading Companies

      Air Liquide Argentina (OTC: AIQUY)

      Bunge Argentina (NYSE: BG)

      Carboclor S.A. (BCBA: CARC)

      Compania Mega

      Dak Americas Argentina S.A.

      Dow Argentina S.A.

      Grupo Linde Gas Argentina

      Indura Argentina S.A.

      Petrobras Argentina S.A.

      Petroken Petroquimica Ensenada S.A.

      Petroquimica Cuyo S.A.I.C.

      Petroquimica Rio Tercero S.A.

      Linde plc (NYSE: LIN; FWB: LIN)

      Profertil S.A.

      Solvay Indupa S.A.I.C.

      YPF S.A.

      Associate: Donny Stanley

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      News and Commentary

      Oil & Gas Journal - Energía Argentina signs Tenaris to supply Vaca Muerta pipes - 18/6/2022

      Energía Argentina has signed Tenaris to supply welded pipes for Stage 1 construction of the Presidente Nestor Kirchner Gas Pipeline, which will move Vaca Muerta shale natural gas from Tratayén, Neuquén province, to Saliquelló, in Buenos Aires province.

      For the complete story see:

      https://www.ogj.com/pipelines-transportation/pipelines/article/14278405/energa-argentina-signs-tenaris-to-supply-vaca-muerta-pipes

      BNamericas - Argentina oil and gas watch: Petroquímica Comodoro Rivadavia investment, national hydrocarbons output - 14/6/2022

      Argentine province Mendoza granted a 10-year extension to a hydrocarbons extraction license held by local construction, power and oil and gas firm Petroquímica Comodoro Rivadavia (PCR).

      For the complete story see:

      https://www.bnamericas.com/en/news/argentina-oil-and-gas-watch-petroquimica-comodoro-rivadavia-investment-national-hydrocarbons-output

      Bloomberg.com - Argentina's Shale-Gas Pipe Project Clouded by Political Scandal - 13/6/2022

      A proposed cross-country pipeline that would unlock Argentina's vast natural gas reserves has been ensnared in political controversy and a legal investigation that may delay construction and worsen energy shortages.

      For the complete story see:

      https://www.bloomberg.com/news/articles/2022-06-13/argentina-s-shale-gas-pipe-project-clouded-by-political-scandal

      BNamericas - Chile and Argentina agree on energy exchange - 13/6/2022

      An important announcement was made by President Gabriel Boric together with his Argentine counterpart, Alberto Fernández, in the context of the ninth version of the Summit of the Americas, held in Los Angeles, California, USA, on energy exchange.

      For the complete story see:

      https://www.bnamericas.com/en/news/chile-and-argentina-agree-on-energy-exchange

      BNamericas - YPF explores quantum computing for the development of the energy transition together with Microsoft - 13/6/2022

      As part of the collaboration to drive innovation and its commitment to sustainability, YPF will work with Microsoft to explore the use of quantum computing technologies with a focus on the development of transitional energy sources -- from traditional to renewable sources -- and the retraining of YPF's technical teams.

      For the complete story see:

      https://www.bnamericas.com/en/news/ypf-explores-quantum-computing-for-the-development-of-the-energy-transition-together-with-microsoft

      BNamericas - Ex-energy secretary: Argentina diesel crisis proves biofuels law concerns justified - 11/6/2022

      Devising a long-term state energy plan where biodiesel plays a key role.

      For the complete story see:

      https://www.bnamericas.com/en/news/ex-energy-secretary-argentina-diesel-crisis-proves-biodiesel-law-concerns-are-justified

      Natural Gas Intelligence - Argentina Launches Tender for Vaca Muerta to Buenos Aires Natural Gas Pipeline - 6/6/2022

      Argentina has officially launched the tender for construction of the 563-kilometer (350-mile) Néstor Kirchner natural gas pipeline.

      For the complete story see:

      https://www.naturalgasintel.com/argentina-launches-tender-for-vaca-muerta-to-buenos-aires-natural-gas-pipeline/

      BNamericas - Argentina province receives bids for gas pipeline expansion work - 3/6/2022

      Argentina's Santa Fe province opened bids for a contract to expand the Rosario Oeste gas pipeline.

      For the complete story see:

      https://www.bnamericas.com/en/news/argentina-province-receives-bids-for-gas-pipeline-expansion-work

      https://www.facebook.com/acquisdata/

      Media Releases

      Air Liquide - Air Liquide steps up its renewable energy sourcing by signing in the Netherlands the Group's largest long-term Power Purchase Agreement - 21/6/2022

      Air Liquide has signed its biggest long-term Power Purchase Agreement (PPA) to date with approximately 115 MW of new offshore wind electricity, purchased to Vattenfall in the Netherlands. This PPA comes in addition to a previous agreement announced with Vattenfall in March 2021, expanding the long-term partnership between the two groups. It reaffirms Air Liquide's commitment to lead the way in decarbonizing the European industry while lowering its own carbon footprint, in line with its Sustainable Development objectives.

      Air Liquide has signed a 15 year contract starting in 2025 with Vattenfall, one of Europe's leading producers and retailers of electricity. The renewable energy will be generated by the Hollandse Kust Zuid (HKZ) subsidy-free, worldscale offshore wind farm under construction by Vattenfall off the Dutch coast.

      This agreement will enable Air Liquide to supply its current industrial and medical gas production assets in the Netherlands and more generally in Benelux with renewable energy. It will also feed some of its large-scale decarbonization projects in the region and accompany the acceleration of its customers' demand growth for low-carbon gases. This agreement will allow Air Liquide to cover more than 30% of the Group's current electricity consumption in the Benelux.

      Over the contract duration, this will avoid the emission of up to 3.5 million tonnes of CO2, which is comparable to the emissions generated by over 150,000 Dutch households. This contract will significantly expand Air Liquide's offer of low-carbon solutions at competitive prices and give customers the ability to add more renewable content in their end products.

      Pascal Vinet, Senior Vice President and a member of Air Liquide's Executive Committee, supervising Europe Industries activities, said:

      This long term power purchase agreement represents a major step-up in Air Liquide's renewable energy sourcing as it is the largest renewable energy PPA we have signed to date. Securing access to renewable energy is a key element of Air Liquide's decarbonization and Sustainable Development strategy. It allows the Group not only to significantly reduce its carbon footprint but also to meet the growing demand from its customers for competitive low-carbon solutions. With this PPA, Air Liquide also strongly confirms its commitment to actively support the energy transition in Europe.

      https://www.airliquide.com/group/press-releases-news/2022-06-21/air-liquide-steps-its-renewable-energy-sourcing-signing-netherlands-groups-largest-long-term-power

      Air Liquide - Air Liquide and Groupe ADP announce their ambition to create the first joint venture to facilitate the development of hydrogen infrastructure at airports - 15/6/2022

      With this ambition of creating the first engineering joint venture dedicated to accompanying airports in their project to integrate hydrogen in their infrastructure, Air Liquide and Groupe ADP are strengthening their collaboration. This announcement follows a memorandum of understanding signed in 2021 to carry out feasibility studies to accompany the arrival of hydrogen-powered aircraft. This partnership project demonstrates the Groups' shared ambition to act now to pave the way for decarbonized air transport worldwide.

      The purpose of this 50:50 joint venture will be to provide airports in France and across the world with the engineering and services they will need in their transition to hydrogen. As the first hydrogen-powered commercial aircrafts are expected by 2035, airports need to start reconsidering their infrastructure as of today. In particular, they must look at how liquid hydrogen will be supplied and how it can also serve other ground mobility usages, notably heavy duty mobility or light ground support equipment.

      The services provided will allow airports to meet all the challenges they will face to integrate hydrogen, including:

      Estimated volumes of hydrogen required over time;

      The optimal hydrogen supply chain based on the airport's specific characteristics and location;

      Scope and pre-installation work for the hydrogen infrastructure required at the airport;

      Preliminary safety studies;

      Cost studies and investment road maps;

      Carbon impact assessments...

      In 2021, Air Liquide and Groupe ADP initiated a first collaboration, together with Airbus, to carry out a year-long study into the configurations of 30 airports worldwide, with a particular focus on Paris-Charles de Gaulle and Paris-Orly. Preliminary studies confirmed hydrogen's potential to decarbonize aviation, identifying several production and supply chain patterns that can be integrated in airport infrastructures. Thanks to this cooperation, Air Liquide and Groupe ADP have developed unique expertise in the infrastructure sizing and pre-implementation phases that will be required at airports for this transformation.

      Air Liquide will bring to the joint venture [1] its expertise in hydrogen, from production through electrolysis, liquefaction, storage to the distribution of hydrogen to aircraft. Groupe ADP will contribute its expertise in airport engineering and knowhow in airport operations.

      Matthieu Giard, Vice President, member of the Air Liquide Executive Committee notably supervising hydrogen activities, said:

      "Hydrogen is necessary to tackle the challenge of the energy transition. Studies carried out with Groupe ADP over the last year have confirmed hydrogen can have a major contribution to decarbonize the airport sector. Airports have to be ready for hydrogen-powered aircrafts by 2035, and to foster the emergence of a hydrogen mobility ecosystem at large. This is why now is the time to work on adapting infrastructures. Air Liquide and Groupe ADP therefore project to create the first joint venture specialized in this field, building on our initial collaboration and pooling the complementary expertise of our two Groups. In line with our commitments, our ambition is to actively contribute to the emergence of a low-carbon society."

      Edward Arkwright, Groupe ADP Deputy Chief Executive Officer, said,

      "Having worked together with Air Liquide to produce studies over the past year, this joint venture was a logical next step. With it, we expect to have the first ground-based hydrogen technology use cases in place at Paris-Charles de Gaulle and Paris-Orly airports in 2023. Our collaboration with Air Liquide is a long-term one and is based on the complementarity of our respective expertises : the hydrogen supply chain for Air Liquide and airport infrastructure and operations for Groupe ADP."

      https://www.airliquide.com/group/press-releases-news/2022-06-15/air-liquide-and-groupe-adp-announce-their-ambition-create-first-joint-venture-facilitate-development

      # Acquisdata: Up to date business intelligence reports covering developments in the world's fastest growing industries #

      # Reportal: a vast archive of corporate documents from listed companies around the world #

      Latest Research

      Overview Of The Exploration Potential Of Offshore Argentina - Insight From New Seismic Interpretations.

      Steve DeVito And Hannah Kearns.

      Abstract

      Argentina's offshore sedimentary basins cover a vast area on one of the widest continental margins on the planet, yet they remain underexplored today. Previous exploration drilling has failed to encounter commercial volumes of hydrocarbons, in part due to the poor seismic imaging of legacy 1960s-1990s 2D seismic data, and to the majority of wells being drilled on structural highs outside of the source rock kitchens. In this study, we reviewed 52 000 km of recently acquired (2017-2018) regional 2D long-offset seismic data with broadband pre-stack time (PSTM) and depth migration (PSDM) processing. We identified five major structural domains with hydrocarbon prospectivity on the Northern Margin of Argentina and four on the Southern Margin, and the presence of previously unseen structural and stratigraphic traps involving sequences assigned to proven regional source rocks and reservoirs in Permian, Jurassic and Cretaceous rocks. The source and reservoir rocks, petroleum systems, and play types present in the deepwater of the undrilled Argentina Basin represent a true frontier for hydrocarbon exploration. Pseudo relief attribute seismic displays and amplitude v. angle (AVA) analysis are demonstrated to be valuable tools in predicting the stratigraphy of the basins. A new framework for understanding the oil and gas prospectivity of the study area is presented.

      https://pubs.geoscienceworld.org/pg/article-abstract/28/2/petgeo2020-132/610908/Overview-of-the-exploration-potential-of-offshore

      The Industry

      Argentine Petrochemical Institute (IPA) is a private non-profit institution.

      Among its activities, the Institute develops:

      Research and analysis in the sector at a national and international level

      National and Latin American Congresses

      Panels and conferences with experts from developed countries

      Postgraduate education courses

      Courses for Professionals

      Technical Courses

      Statistics, documentation, bibliography, etc.., relative to the sector

      Promotion of technological research; assistance to government agencies for research planning

      Technical assistance to government entities linked to the development of the Petrochemical Sector

      Cooperation with international organizations

      Every task that leads to the petrochemical development of the country

      The Beginnings

      In the mid-seventies visionary industry participants with more than 30 years of experience in the petrochemical industry, decided to get together and create IPA. These industry leaders had been trained in major worldwide companies, and were aware of the vast natural resources available for the local industry, hence, the potential for a strong and diversified industry in Argentina. Thus, in 1976, Argentine Petrochemical Institute was founded. It's worth noting that the corporate structure of IPA is unique because its members are public and private production, distribution, marketing and engineering companies, research and academic institutions and independent professionals.

      IPA´s Presidents

      Ing. José Pedro Villa: 22/07/1976 - 18/12/1984

      Ing. Héctor E. Formica: 18/12/1984 - 30/10/1986

      Ing. Jorge P. Vago: 30/10/1986 - 15/12/1988

      Ing. Rubén E. Maltoni: 15/12/1988 - 15/12/1989

      Ing. Gabriel Gil Paricio: 15/12/1989 - 15/05/1990

      Dr. Lorenzo Güller Frers: 15/05/1990 - 13/11/1990

      Ing. Luis V. Cavanna: 13/11/1990 - 16/12/1992

      Ing. Arnoldo A. Girotti: 16/12/1992 - 26/11/1996

      Ing. Oscar D. Roig: 26/11/1996 - 14/12/1999

      Sr. Reinaldo E. Marguliz: 14/12/1999 - 12/12/2002

      Ing. Oscar A. López: 12/12/2002 - 15/12/2009

      Ing. Jorge Oscar De Zavaleta: 15/12/2009 - 17/03/2015

      Source: Argentine Petrochemical Institute

      http://www.ipa.org.ar/index.php/en/

      # Acquisdata: Up to date business intelligence reports covering developments in the world's fastest growing industries #

      # Reportal: a vast archive of corporate documents from listed companies around the world #

      Leading Companies

      Air Liquide Argentina (OTC: AIQUY)

      Air Liquide's ambition is to lead its industry, deliver long term performance and contribute to sustainability. The company's customer- centric transformation strategy aims at profitable growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.

      Air Liquide's revenue amounted to €21 billion in 2018 and its solutions that protect life and the environment represented more than 40% of sales. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.

      https://www.airliquide.com/

      Air Liquide - Third quarter 2021: Strong sales growth and high momentum in development projects for the energy transition and in Electronics - 22/10/2021

      Commenting on 3 rd quarter sales for 2021, Benoît Potier, Chairman and CEO of Air Liquide, stated:

      "The third quarter confirms the continued sales growth observed in the first half-year. All activities are increasing: Gas & Services in all regions of the world, Engineering & Construction and Global Markets & Technologies, in a more favorable market environment.

      Revenue in the third quarter amounted to 5.8 billion euros, i.e. +17.2% as published and +7.1% in comparable terms. This good performance illustrates Group's strong positioning on its markets and the robustness of its business model, in the context of a strong surge in energy prices.

      Within Gas & Services, which accounts for 96% of sales, activity is particularly supported by the momentum of the Electronics industry, the continued recovery of the Industrial Merchant business and the robustness of Healthcare activities. Mobilization of teams continued this quarter in fighting the pandemic in several regions of the world, particularly in the supply of medical oxygen. Geographically, activity levels are particularly strong in the Americas and Europe, and more contrasted in Asia.

      The Group continues its momentum of improving its operating margin, driven by operational efficiencies of 314 million euros over the first nine months, in line with the annual target of more than 400 million euros, and active price management taking into account the inflationary context. Cash flow remains high above 23% of sales excluding energy impact.

      12-month investment opportunities are increasing, now reaching 3.3 billion euros, with more than 40% related to the energy transition. In this context, the Group approved investments of nearly 900 million euros this quarter, notably in Large Industries and Electronics. One third of industrial investment decisions will contribute to the energy transition. The robust and diversified investment backlog, currently running at 3.1 billion euros, is particularly promising for future growth.

      True to its growth model combining financial performance and societal performance, Air Liquide has multiple initiatives this quarter to promote hydrogen as a key solution to fight global warming.

      In 2021, Air Liquide is confident in its ability to further increase its operating margin and to deliver recurring net profit [1] growth at constant exchange rates."

      Group revenue for the 3 rd quarter of 2021 totaled 5,834 million euros. The momentum in the first half-year continued this quarter, with sales up +7.1% on a comparable basis with the 3 rd quarter of 2020 and about +6% compared to the 3 rd quarter of 2019 [2] . Consolidated sales of Engineering & Construction grew +35.1% relative to lower activity level due to the pandemic-induced slowdown in 2020. Global Markets & Technologies continued double-digit growth: sales increased +15.9% in the 3 rd quarter, buoyed by the strength of the biogas market and equipment sales for hydrogen mobility. The impact of energy this quarter was particularly strong at +8.9%, on top of positive currency (+0.5%) and significant scope (+0.7%) impacts. All in all, the Group reported a very robust +17.2% growth in as published revenue.

      3 rd quarter 2021 revenue for Gas & Services rose by +6.5% to 5,585 million euros, confirming the upward trend recorded in the first half-year, despite a less favorable basis of comparison. As published revenue for Gas & Services was up +16.9% in the 3 rd quarter, benefiting from a strong energy effect (+9.3%) and positive currency (+0.4%) and significant scope (+0.7%) impacts.

      Gas & Services revenue in the Americas totaled 2,144 million euros in the 3 rd quarter, an increase of +8.2%. Large Industries sales rose +7.4% driven by high demand and the ramp-up of new units. The Industrial Merchant business continued to recover, with a +7.5% increase in revenue. Electronics sales gained +6.6% in a thriving market. Lastly, Healthcare grew +14.5% and remains heavily involved in the fight against Covid-19.

      In the 3 rd quarter, revenue in Europe rose by +5.8% to 2,038 million euros. Large Industries sales (+7.6%) expanded on strong demand in the Steel and Chemicals sectors and on increasing volumes in Refining. Up +7.2%, the Industrial Merchant business pursued its pick-up in sales across all markets and countries. Healthcare revenue increased +2.6%, despite exceptional high sales of ventilators in the 3 rd quarter of 2020 to meet pandemic needs. It benefited from sustained sales of medical oxygen to hospitals and strong demand in Home Healthcare.

      Revenue in Asia-Pacific rose +4.1% in the 3 rd quarter to 1,197 million euros. Large Industries revenue declined (-5.5%) due to the impact of China's Dual Energy Control and customer maintenance turnarounds. The upward trend in the Industrial Merchant business continued with a +8.3% increase in sales, fueled by strong activity in China and the recovery in the rest of Asia. Electronics sales were up +10.8% in a very dynamic market with double-digit growth in sales of Carrier gases and high revenue generated by Equipment & Installations.

      Revenue in the Middle-East and Africa rose +10.4% to 206 million euros in the 3 rd quarter. The sales of hydrogen in Saudi Arabia continued to recover, driven by the customer demand in the Yanbu basin. The surge in air gas volumes was very substantial as the 16 Sasol air separation units made their first contribution (an acquisition finalized in June). These sales were recognized as part of the significant scope effect, hence excluded from the comparable growth. In the Industrial Merchant business, sales continued to rise and are above the levels of the 3 rd quarter of 2019. The Healthcare business stayed very buoyant supplying very large volumes of medical oxygen in pandemic-hit countries.

      Large Industries sales rose +3.4%, despite the measures imposed in China to limit energy consumption at some customer plants. The Industrial Merchant business recovered further, with sales increasing +7.5% as gas sales were above 2019 levels and pricing impact accelerated significantly. Healthcare also recorded a strong performance: sales rose by +6.2%, despite a very high basis of comparison in 2020. Electronics posted strong sales growth of +10.4% in a very dynamic market.

      Consolidated revenue from Engineering & Construction gained +35.1% to 81 million euros in the 3 rd quarter.

      Global Markets & Technologies posted a +15.9% increase in sales to 168 million euros in the 3 rd quarter. Biogas retained strong momentum with new units ramping up and significant price impacts related to energy price increase. Revenue also includes hydrogen refueling station sales for mobility in Asia.

      Efficiencies amounted to 314 million euros over the first nine months of the year, a slight increase of +0.9% compared with 2020, in line with the annual objective fixed at more than 400 million euros.

      Cash flow from operating activities before changes in net working capital amounted to 3,701 million euros at the end of september 2021, an increase of +1.4% and of +4.6% excluding currency impact. This corresponds to a high level of 22.2% of sales and of 23.4% excluding energy impact. When including changes in working capital, the net cash flows from operating activities increased by +5.1% and +7.9% excluding currency impact.

      Industrial investment decisions reached 866 million euros in the 3 rd quarter, totaling more than 2.2 billion euros since the beginning of the year. Development momentum remained strong within Large Industries, particularly with the project to invest in a large-scale hydrogen and carbon monoxide production unit with integrated CO2 recycling. Momentum was also strong for investment decisions within the Electronics business with Carrier gases contracts signed in the United States and in China.

      The 12-month portfolio of investment opportunities increased by more than 200 million euros to reach the very high total of 3.3 billion euros during the 3 rd quarter.

      The additional contribution to revenue of unit start-ups and ramp-ups remained high at 100 million euros during the 3 rd quarter of 2021, including the acquisition of 16 air separation units from Sasol in South Africa. Thus, at the end of September, this figure amounted to 230 million euros, in line with the estimated contribution of 320 million euros for 2021.

      https://en.media.airliquide.com/news/third-quarter-2021-strong-sales-growth-and-high-momentum-in-development-projects-for-the-energy-transition-and-in-electronics-5eca-56033.html

      Bunge Argentina (NYSE: BG)

      Bunge Argentina is one of the most important agribusiness companies within the country. It is engaged in the agricultural activity from the very early stages, by providing agricultural producers with nationally produced fertilizers, being one of the main manufacturers of nitrogen, phosphate, potassium, and sulfur, and thus supplyingthe most required nutrients at domestic level. Bunge Argentina integrates grain marketing, reception and storage; oilseeds industrialization; meal production with a varied content of proteins, and vegetable oil production - either refined for human consumption or crude -intended for the global market.

      In its continuous commitment with growth and national interests, Bunge Argentina employs about 1,600 workers, and generates indirect employment for over 15,000 individuals.

      https://www.bungeargentina.com/en

      Bunge Limited - Bunge Reports First Quarter 2022 Results - 27/4/2022

      St. Louis, MO - April 27, 2022 - Bunge Limited (NYSE:BG) today reported first quarter 2022 results

      Q1 GAAP EPS of $4.48 vs. $5.52 in the prior year; $4.26 vs. $3.13 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences

      Agribusiness continues to adapt to dynamic, rapidly changing market conditions while connecting farmers to global consumers

      Refined and Specialty Oils benefiting from favorable demand trends, as well as supply chain and innovation capabilities

      Increasing full-year adjusted EPS outlook to at least $11.50 based on stronger than expected Q1 results and current forward crush curves

      Overview

      Greg Heckman, Bunge's Chief Executive Officer, commented, "I am very proud of our team's continued agility and dedication to ensuring key food, feed and fuel products are getting from farmers to consumers as we navigate this unprecedented global market, further intensified by the war in Ukraine. In addition to our corporate humanitarian contributions, our global team continues to actively support our colleagues in the region during this difficult time, including volunteering to assist displaced colleagues and their families with shelter, food and other critical needs.

      "From a business standpoint, the changes we've made to our operating model have enabled us to provide innovative solutions to our customers on both ends of the supply chain and help them respond to the highly dynamic and challenging environment. While we expect market conditions to continue shifting, I am confident we have the right team and platform in place to execute our critical role in the global agriculture and food supply chains."

      https://www.bunge.com/news/bunge-reports-first-quarter-2022-results

      Carboclor S.A. (BCBA: CARC)

      Carboclor S.A. engages in the production and commercialization of chemical products, petro-chemical products, and derivatives of petroleum. It also operates port terminals located in Río Paraná de Las Palmas, as well as provides storage and logistics services. Carboclor S.A. markets its products in Argentina, in the region of Latin America, and the United States. The company was founded in 1968 and is headquartered in Buenos Aires, Argentina. Carboclor S.A. is a subsidiary of Ancsol S.A.

      https://www.carboclor.com.ar/rse/

      Compania Mega

      Mega Company has been operating since the beginning of the year 2001 and has as vision and mission: To be the essential protagonist in the gas processing of the Neuquén basin and in the development of energy infrastructure in the region, promoting the growth of gas production and promoting The petrochemical industry.

      Contribute to the country's energy development and the development of the petrochemical sector.

      The main axis of its business is to add value to natural gas through the separation and fractionation of its rich components, in order to recover ethane that constitutes the main raw material of the Argentine petrochemical industry and export the liquid components to other markets.

      https://www.ciamega.com.ar/

      Dak Americas Argentina S.A.

      DAK Americas, a company backed by its trajectory, technology and experience, combines the Terephthalic Acid (TPA), PET resin for packaging and Polyester Short Fiber businesses. Based in Charlotte, North Carolina, DAK Americas is a globally competitive provider for the Americas. DAK Americas is based on a double strategy that consists of the manufacture of generic products at low cost and the innovation of a series of specialized products.

      http://www.dakamericas.com/esp/

      Dow Argentina S.A.

      Dow (NYSE: DOW) combines the power of science and technology to innovate with passion what is essential for human progress. The Company is driving innovations that extract value from materials, polymer, chemical and biological sciences to help address many of the world's most pressing problems, such as the need for clean water, the generation and conservation of clean energy and the increase of agricultural productivity. Dow's integrated, market-oriented and industry-leading business portfolio of specialty chemicals, advanced materials, agricultural sciences and plastics provides customers with a wide range of technology-based products and solutions in approximately 180 countries and in high-profile sectors. growth such as packaging, electronics, water, coatings and agriculture. In 2015, Dow reached annual sales of almost US $ 49 billion and employed approximately 49,500 people worldwide. More than 6,000 families of the Company's products are manufactured in 179 sites in 35 countries around the world. On June 1, 2016, Dow became the owner of 100 percent of the silicon business of Dow Corning Corporation, a global company with sales of more than USD $ 4.5 billion in 2015, 25 production plants in 9 countries and approximately 10,000 employees worldwide.

      http://www.dow.com/en-us

      Dow Chemical - Dow reports first quarter 2022 results - 21/4/2022

      FINANCIAL HIGHLIGHTS

      GAAP earnings per share (EPS) was $2.11; Operating EPS¹ was $2.34, compared to $1.36 in the year-ago period. Operating EPS excludes certain items in the quarter, totaling $0.23 per share, primarily due to asset-related charges.

      Net sales were $15.3 billion, up 28% versus the year-ago period, reflecting gains in all operating segments, businesses and regions. Sequentially, net sales were up 6%, driven by gains in Performance Materials & Coatings and Packaging & Specialty Plastics.

      Local price increased 28% versus the year-ago period, with gains in all operating segments, businesses and regions. Sequentially, local price increased 2%, primarily driven by silicones and polyurethanes.

      Volume increased 3% versus the year-ago period, with gains in all operating segments and in the U.S. & Canada and Latin America. Sequentially, volume was also up 5%, reflecting strong demand for silicones and polyethylene applications.

      Equity earnings were $174 million, down $50 million from the year-ago period, primarily driven by impacts from planned maintenance activity at Sadara. Equity earnings were down $50 million from the prior quarter driven by lower polyethylene and MEG margins in Asia Pacific.

      GAAP Net Income was $1.6 billion. Operating EBIT 1 was $2.4 billion, up $865 million from the year-ago period with gains in all operating segments. Sequentially, operating EBIT increased 7%, led by improvements in Performance Materials & Coatings and Industrial Intermediates & Infrastructure as higher prices and lower planned maintenance activity more than offset higher raw material and energy costs.

      Cash provided by operating activities - continuing operations was $1.6 billion, up $1.8 billion 2 year-over-year due to increased earnings and an elective pension contribution in the year-ago period. Sequentially, cash provided by operating activities decreased $945 million as higher dividends from joint ventures were more than offset by working capital on increased sales and raw material costs. Free cash flow 1 was $1.3 billion.

      Returns to shareholders totaled $1.1 billion in the quarter, comprised of $513 million in dividends and $600 million in share repurchases.

      SUMMARY FINANCIAL RESULTS

      Three Months Ended Mar 31 Three Months Ended Dec 31 In millions, except per share amounts 1Q22 1Q21 vs. SQLY [B / (W)] 4Q21 vs. PQ [B / (W)] Net Sales $15,264 $11,882 $3,382 $14,364 $900 GAAP Income, Net of Tax $1,552 $1,006 $546 $1,761 $(209) Operating EBIT ¹ $2,419 $1,554 $865 $2,265 $154 Operating EBIT Margin ¹ 15.9% 13.1% 280 bps 15.8% 10 bps Operating EBITDA ¹ $3,171 $2,271 $900 $2,920 $251 GAAP Earnings Per Share $2.11 $1.32 $0.79 $2.32 $(0.21) Operating Earnings Per Share ¹ $2.34 $1.36 $0.98 $2.15 $0.19 Cash Provided by (Used for) Operating Activities - Cont. Ops $1,612 $(228) $1,840 $2,557 $(945) 1. Op. Earnings Per Share, Op. EBIT, Op. EBIT Margin, Op. EBITDA, and Free Cash Flow are non-GAAP measures. See page 6 for further discussion. 2. Cash Provided by Operating Activities - Continuing Operations includes a $1 billion elective pension contribution in the first quarter of 2021. ®TM Trademark of The Dow Chemical Company ("Dow") or an affiliated company of Dow

      CEO QUOTE

      Jim Fitterling, chairman and chief executive officer, commented on the quarter:

      "Entering our company's 125 th year, Team Dow delivered top- and bottom-line growth sequentially and year-over-year in the first quarter, demonstrating the advantage of our differentiated portfolio, feedstock flexibility and continued focus on disciplined execution. Despite higher energy costs, we captured healthy end-market demand and achieved solid volume growth, price gains and margin expansion.

      "In addition, today we published our annual benchmarking that demonstrates Dow delivered on our financial targets with top-quartile EBITDA margins, return on capital, free cash flow yield, shareholder remuneration, and debt reduction. We also recently announced a new $3 billion share repurchase program - a direct result of our performance as well as our balanced and disciplined capital allocation approach."

      SEGMENT HIGHLIGHTS

      Packaging & Specialty Plastics

      Three Months Ended March 31 Three Months Ended December 31 In millions, except margin percentages 1Q22 1Q21 vs. SQLY [B / (W)] 4Q21 vs. PQ [B / (W)] Net Sales $7,627 $6,082 $1,545 $7,189 $438 Operating EBIT $1,234 $1,228 $6 $1,442 $(208) Operating EBIT Margin 16.2 % 20.2% (400) bps 20.1% (390) bps Equity Earnings $110 $106 $4 $130 $(20)

      Packaging & Specialty Plastics segment net sales in the quarter were $7.6 billion, up 25% versus the year-ago period. Local price increased 24% year-over-year with gains in both businesses and all regions. Continued strong end-market demand drove a 4% year-over-year volume increase, with gains in energy sales, olefins, and polyethylene, primarily in the U.S. & Canada. Currency decreased net sales by 3%. On a sequential basis, the segment delivered a 6% net sales increase, driven by robust demand in both businesses, including polyethylene demand, across industrial and consumer packaging applications.

      Equity earnings were $110 million, up $4 million compared to the year-ago period. For the principal joint ventures, gains from increased elastomer margins at the Thai joint ventures were offset by lower integrated polyethylene margins at Sadara and the Kuwait joint ventures. On a sequential basis, equity earnings decreased by $20 million due to higher raw material costs impacting polyethylene margins at the principal joint ventures.

      Operating EBIT was $1.2 billion, up $6 million versus the year-ago period, with Op. EBIT margins down 400 basis points year-over-year, as price increases in the U.S. & Canada and Latin America were partly offset by rising raw materials and energy costs in all regions. Sequentially, Op. EBIT was down $208 million and Op. EBIT margins declined by 390 basis points, primarily due to higher raw material and energy costs in Europe.

      Packaging and Specialty Plastics business delivered higher net sales versus the year-ago period, led by local price gains in all regions as well as in industrial & consumer packaging and flexible food & beverage packaging applications. Volumes declined slightly year-over-year, as growth in the U.S. & Canada was more than offset by declines in Asia Pacific. Sequentially, the business increased revenue on volume gains in all regions. Price increases in functional polymers were more than offset by price declines in polyethylene.

      Hydrocarbons & Energy business delivered a net sales increase compared to the year-ago period, driven primarily by higher local prices in olefins and aromatics. Sequentially, sales increased due to higher olefin volume and price, primarily in Europe, the Middle East, Africa and India.

      Industrial Intermediates & Infrastructure

      Three Months Ended March 31 Three Months Ended December 31 In millions, except margin percentages 1Q22 1Q21 vs. SQLY [B / (W)] 4Q21 vs. PQ [B / (W)] Net Sales $4,524 $3,607 $917 $4,548 $(24) Operating EBIT $661 $326 $335 $595 $66 Operating EBIT Margin 14.6% 9.0% 560 bps 13.1% 150 bps Equity Earnings $62 $115 $(53) $90 $(28)

      Industrial Intermediates & Infrastructure segment net sales in the quarter were $4.5 billion, up 25% versus the year-ago period. Local price improved 29% year-over-year with gains in both businesses and in all regions. Currency decreased sales by 5%. Volume was up 1% year-over-year as improved supply availability from the impacts of Winter Storm Uri in the prior year were offset by planned maintenance activity at Sadara. On a sequential basis, net sales were down 1%, as local price gains in both businesses were offset by the lower supply availability from Sadara.

      Equity earnings were $62 million, down $53 million compared to the year-ago period due to lower supply availability from planned maintenance activity at Sadara. On a sequential basis, equity earnings decreased by $28 million due to lower MEG margins.

      Operating EBIT was $661 million, an increase of $335 million compared to the year-ago period, primarily due to strong pricing momentum in both businesses, driving Op. EBIT margins up 560 basis points year-over-year. Sequentially, Op. EBIT was up $66 million, and Op. EBIT margins improved by 150 basis points, as strong prices and lower planned maintenance activity offset pressure from higher raw material and energy costs.

      Polyurethanes & Construction Chemicals business delivered higher net sales compared to the year-ago period, driven by local price gains in all regions and across all key value chains. Volume declined year-over-year, primarily due to the lower supply availability from Sadara. Sequentially, net sales declined as local price gains and strong demand for construction and industrial applications were more than offset by the lower supply availability from Sadara due to planned maintenance activity.

      Industrial Solutions business delivered increased net sales year-over-year, with local price gains in all regions. Volume also increased globally, driven by strong demand in industrial, agriculture and coatings markets, as well as improved supply availability from the impacts of Winter Storm Uri in the year-ago period. Sequential net sales were flat as local price gains and demand growth in the pharmaceutical, mobility and home and industrial cleaning end-markets were offset by the lower supply availability from Sadara.

      Performance Materials & Coatings

      Three Months Ended March 31 Three Months Ended December 31 In millions, except margin percentages 1Q22 1Q21 vs. SQLY [B / (W)] 4Q21 vs. PQ [B / (W)] Net Sales $3,049 $2,123 $926 $2,558 $491 Operating EBIT $595 $62 $533 $295 $300 Operating EBIT Margin 19.5% 2.9% 1,660 bps 11.5% 800 bps Equity Earnings $3 $2 $1 $2 $1

      Performance Materials & Coatings segment net sales in the quarter were $3 billion, up 44% versus the year-ago period. Local price increased 39% year-over-year, with gains in both businesses and in all regions. Volume increased 8% year-over-year on stronger demand for silicones and coatings applications combined with improved supply availability from the impact of Winter Storm Uri in the year-ago period. Currency decreased net sales by 3%. On a sequential basis, net sales were up 19% with local price gains in both businesses. Volume increased sequentially due to strong consumer demand and increased supply availability of siloxanes upon the completion of planned maintenance activity in the prior quarter.

      Operating EBIT was $595 million, compared to $62 million in the year-ago period, as Op. EBIT margins increased 1,660 basis points due to strong price gains and robust demand for both silicones and coatings offerings. Sequentially, Op. EBIT improved $300 million and Op. EBIT margins improved 800 basis points due to local price gains and lower impact from planned maintenance activity.

      Consumer Solutions business delivered higher net sales year-over year, with local price gains in all regions and applications. Volume also improved across all regions, driven by improved siloxane supply and strong demand for personal care applications. Sequentially, net sales were up with increases in local price and volume. Improved supply availability of siloxanes versus the prior quarter enabled the business to capture stronger demand across all major end-markets.

      Coatings & Performance Monomers business delivered increased net sales compared to the year-ago period, with local price gains in all regions. Volume increased year-over-year on improved supply availability of monomers from the impact of Winter Storm Uri in the year-ago period. Sequentially, the business delivered flat sales as local price gains for architectural coatings were offset by lower monomers volumes due to maintenance activity.

      OUTLOOK

      "Looking ahead, we see strong demand across our end-markets," said Fitterling. "While the geopolitical environment remains dynamic, our global scale, cost-advantaged positions, and industry-leading feedstock and derivative flexibility continue to enable resilient financial and operating performance. At the same time, we are advancing our strategy to decarbonize and grow underlying earnings by more than $3 billion in the transition to a more sustainable world. Dow is well-positioned to achieve mid-cycle earnings above pre-pandemic levels as we capture increasing demand for low-carbon, sustainable and circular innovations."

      About Dow

      Dow (NYSE: DOW) combines global breadth; asset integration and scale; focused innovation and materials science expertise; leading business positions; and environmental, social and governance (ESG) leadership to achieve profitable growth and deliver a sustainable future. The Company's ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company in the world. Dow's portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated, science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer applications. Dow operates 104 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $55 billion in 2021. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.

      https://investors.dow.com/en/news/news-details/2022/Dow-reports-first-quarter-2022-results/default.aspx

      Grupo Linde Gas Argentina

      In the 2017 financial year, The Linde Group generated revenue of

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