Hints and tips:
...That’s really problematic for the rest of us,” said John Duncan, co-lead for the Business Coalition for a Global Plastics Treaty, a group of more than 200 companies including Walmart, PepsiCo, and L’Oréal...
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...It is one of the biggest western refining companies, with 12 plants spread across the US and Europe....
...The US presently produces around 11mn tonnes a year of hydrogen from natural gas for use in oil refining and the production of chemicals. “That’s all going to get replaced now,” said Hutchinson....
...“The fact that petrochemical feedstock demand continues to keep growing is what pushes our view of peak oil out into the early 2030s,” said Alan Gelder, vice-president of refining, chemicals, and oil markets...
...First, China dominates critical mineral extraction and refining to an astonishing degree....
...S&P Global Commodity Insight....
...China is home to more than half of the world’s lithium, cobalt and graphite refining capacity....
...Lithium refining — a complex chemical process — is a far cry from the carmaker’s core expertise of designing vehicles, and relies on the company being able to secure a type of lithium ore known as “spodumene...
...is put through its refining system and then sold to consumers....
...Several them own NFTs or NFT-adjacent companies — maybe that’s bad? Anyway, here are names and links — we’ll let you make your own mind up: Liquid 2 Venture Fund III L.P . . . ....
...“Refining and chemicals is an industry that they had not fully exploited.”...
...“If the consumers panic, then you may see prices really strengthened over the next few days,” said Alan Gelder, vice-president of refining and chemicals at Wood Mackenzie....
...Refineries in Lake Charles owned by Phillips 66 and Citgo Petroleum were halted, as were others in Texas owned by Motiva Enterprises, ExxonMobil, Valero Energy, Total and Chevron, S&P said....
...The affected refineries included North America’s largest, Motiva Enterprises’ 630,000 b/d plant at Port Arthur, as well as Citgo’s 425,000 b/d refinery at Lake Charles, S&P said....
...“Europe is a good opportunity now,” says Gavin Launder, manager of the European fund at L&G, the investment group. “Governments are now quite keen to promote tech-savvy companies....
...Other sectors bear consideration, such as oil refining, basic chemicals and paper. These too have high energy intensity and will too have large carbon liabilities at $100 a tonne....
...The company was also able to maintain high capacity in its refining business while oil prices were low....
...Since 2016, we estimate the Kingfisher P&L has had an £81m transactional benefit from weaker sterling. FX could become a headwind once trade talks are agreed (or not)....
...However, the outlook is uncertain, rising one-offs make P&L valuations less relevant and cash conversion is declining. In addition, top management changes add another layer of complexity....
...Some investments are likely to continue, including the acquisition of a stake in the refining and chemicals business of India’s Reliance Industries, expansion plans at its US refining subsidiary Motiva Enterprises...
...S&P Global Sector: FINANCIALS / HQ: NEW YORK, US Key stat: Investment-grade companies have issued more than $1tn of debt this year, a record....
...In our recent Breakeven Reboot report we argued that while Shell’s rating (S&P: AA-) is a key strength, its relatively high gearing, high demand-led exposure (gas, refining, petchems) and previously elevated...
...Today’s 20x P/E is appropriate if EPS growth is accelerating, we think,but not if it’s decelerating,and the +40% valuation premium to other cyclical chemical companies is now close to peak....
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