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DUBLIN--(BUSINESS WIRE)--The "Compressed Air Energy Storage - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.


The publisher brings years of research experience to the 9th edition of this report. The 125-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Compressed Air Energy Storage Market to Reach US$6.6 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Compressed Air Energy Storage estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$6.6 Billion by 2027, growing at a CAGR of 24% over the analysis period 2020-2027.

Renewable Energy Integration, one of the segments analyzed in the report, is projected to grow at a 24.3% CAGR to reach US$2.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Grid Optimization segment is readjusted to a revised 20.6% CAGR for the next 7-year period. This segment currently accounts for a 28.8% share of the global Compressed Air Energy Storage market.

The U.S. Accounts for Over 29.9% of Global Market Size in 2020, While China is Forecast to Grow at a 23.4% CAGR for the Period of 2020-2027

The Compressed Air Energy Storage market in the U.S. is estimated at US$438 Million in the year 2020. The country currently accounts for a 29.92% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.1 Billion in the year 2027 trailing a CAGR of 23.4% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.5% and 20.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 16.8% CAGR while Rest of European market (as defined in the study) will reach US$1.1 Billion by the year 2027.

T&D Deferral Segment Corners a 28.3% Share in 2020

In the global T&D Deferral segment, USA, Canada, Japan, China and Europe will drive the 26.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$331.6 Million in the year 2020 will reach a projected size of US$1.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$777.5 Million by the year 2027.

Competitors identified in this market include, among others:

  • AES Energy Storage LLC
  • ALMiG Kompressoren GmbH
  • Alstom Power, Inc.
  • Ambri, Inc.
  • American Precision Industries (API)
  • American Vanguard Corporation
  • Ansaldo Energia SpA
  • Atlas Copco Energas GmbH - Atlas Copco Gas and Process Division
  • Babcock Power Inc.
  • Bauer Kompressoren Group
  • Brayton Energy, LLC
  • BTEC Turbines LP
  • Dresser-Rand Group, Inc.
  • Elliott Company
  • GE Energy
  • General Compression Limited
  • Hydrostor Inc.
  • LightSail Energy
  • MAN Diesel & Turbo SE
  • Maxwell Technologies, Inc.
  • Pacific Gas and Electric Company
  • Parker Hannifin India Pvt. Ltd.
  • R&D Dynamics Corporation
  • Siemens Energy
  • Solar Turbines, Inc.
  • SSS Gears Limited

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 and a Looming Global Recession
  • Global Competitor Market Shares
  • Compressed Air Energy Storage Competitor Market Share Scenario Worldwide (in %): 2018E

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 46

For more information about this report visit https://www.researchandmarkets.com/r/eegsib


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MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro” or the “Company”) (NYSE: PUMP) today announced that it has appointed G. Larry Lawrence to its Board of Directors (the “Board”) effective December 17, 2020. Mr. Lawrence is an oilfield business leader with extensive experience across finance, accounting and operations. He brings an extensive accounting background along with decades of experience in the energy industry.


“We are excited about the future of ProPetro with the addition of Larry as an independent Director,” said Phillip Gobe, Chief Executive Officer of the Company. “His experience as a director and financial acumen will strengthen key functions at ProPetro, and his appointment demonstrates our commitment to strong governance principles.”

“I am honored to join ProPetro’s Board and look forward to contributing to the Board’s governance and oversight initiatives. In addition, I look forward to the opportunity to support a premier service provider operating in the premier oil-producing Permian Basin,” said Mr. Lawrence.

About G. Larry Lawrence

Mr. Lawrence previously served as Audit Committee Chair of Legacy Reserves, LLP’s Board of Directors, a role he held from 2006 to 2019. Mr. Lawrence previously served as Chief Financial Officer of Natural Gas Services Group for nine years, as Chief Financial Officer for Lynx Operating Co. Inc. for three years and as Chief Financial Officer for Pure Resources, Inc. for two years. He has also held finance and management consulting positions for Parson Group, ARCO and Crescent Consulting. Mr. Lawrence earned his bachelor’s degree with an accounting major from Dillard University in New Orleans.

About ProPetro

ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.


Contacts

ProPetro Holding Corp
Sam Sledge, 432-688-0012
Chief Strategy and Administrative Officer
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Project 11 included in Water Resources Development Act Legislation

HOUSTON--(BUSINESS WIRE)--On Monday, Congress passed the 2020 Water Resources Development Act. The bill formally authorized the expansion of the Houston Ship Channel, which was recently ranked the #1 U.S. Port in total waterborne tonnage. The channel is the busiest waterway in the nation averaging 50 deep-draft vessel transits every day. These are just the latest milestones reached by the busiest waterway in the nation, averaging 50 deep-draft vessel transits every day.



“Today’s announcement is BIG. The authorization to widen and deepen the Houston Ship Channel is BIG for our region, the state of Texas, and our nation,” said Executive Director Roger Guenther. “It is BIG for economic prosperity and growth of industry that is served by the busiest waterway in the country.”

The Houston Ship Channel and the public and private terminals along it moved nearly 285 million tons of cargo in 2019. That was almost 47 million tons more than any other U.S. port and a 6% increase compared to the previous year. To support this vital waterway’s continued growth, planning for the deepening and widening of the Houston Ship Channel has been Port Houston’s top priority for nearly a decade.

The Houston Ship Channel expansion, known as Project 11, will widen and deepen the channel for safer and more efficient navigation of vessels calling the port.

The project also includes new environmental features to benefit channel users. “Project 11 is expected to improve regional air quality by increasing the efficiency of vessel movements and reducing potential congestion along the Houston Ship Channel. New bird islands and oyster reefs will be created as part of the project,” Port Houston Chairman Ric Campo said. “The bottom line is an expanded channel that will positively impact the flow of goods in and out of our region.”

The Houston Ship Channel supports 3.2 million jobs in the nation, with 1.35 million in Texas, and nationwide economic impact totaling $802 billion.

As the Houston Ship Channel’s non-federal sponsor, Port Houston has been the waterway’s advocate and strategic leader working in partnership with the United States Army Corps of Engineers. Expansion of the channel has been Port Houston’s top priority for nearly a decade.

“Today’s WRDA success didn’t happen overnight – it took many years of planning,” Guenther said, in appreciation to all partners and stakeholders for their support of the effort.

Along with Port Houston’s eight public terminals, there are more than 200 private facilities along the channel, and many of these stakeholders have actively participated in driving the expansion project forward.

Chairman Campo added his congratulations to everyone “for driving this change forward and for leading the way toward progress that will help the Houston Ship Channel remain the economic powerhouse it is today.”

Guenther said that steps remain to reach the start of construction and emphasized that passage of the WRDA bill is significant, “but our work is not done.”

Guenther explained that after WRDA is enacted, the next step in the project delivery process will be to secure a ‘New Start’ designation from the Administration and discretionary funding from the Corps of Engineers. “Over the next couple of months, our teams will be advocating to achieve this next benchmark,” he said.

“As the advocate and a strategic leader of the Houston Ship Channel, we are a steward of progress. But we aren’t doing it alone,” Guenther said. “It takes a lot of support to be included in a WRDA bill, and this exciting step would not have been possible without the support of so many, and we are especially grateful to all the elected officials who have been vital to this effort.”

Port Houston produced a special video on the importance of the channel expansion project and appreciation to all the elected officials, partners, and stakeholders involved in bringing Project 11 to this milestone https://protect-us.mimecast.com/s/VizBCQWgmzIyjMPhxLuCt?domain=youtu.be.

About Port Houston

For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel – the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. nation. The more than 200 private and eight public terminals along the federal waterway supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6% of Texas’ total gross domestic product (GDP) – and a total of $801.9 billion in economic impact across the nation. For more information, visit www.PortHouston.com.


Contacts

Lisa Ashley, Director, Media Relations, Office: 713-670-2644; Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro” or the “Company”) (NYSE: PUMP) today announced that David Sledge, the current Chief Operating Officer (“COO”), will be succeeded in his role by Adam Muñoz at the end of 2020.


“We are very appreciative of David’s service to ProPetro over the past nine years,” said Chairman and Chief Executive Officer Phillip Gobe. “David has had a long and distinguished career in oilfield services. David’s career in the Permian Basin spans over 41 years and multiple service lines where he has seen success at every stop. We are proud for David to have been such a large part of our success and growth, and we wish him well in his future endeavors.”

David Sledge stated, “I am extremely proud to have been a part of the ProPetro team for the past nine years and I am looking forward to retirement. During my time with the Company, I had the opportunity to work alongside some of the most talented people in our industry, and I wish the team continued success.”

David’s tenure with ProPetro spanned a period where the company grew from just a single operating hydraulic fracturing fleet to as many as 27 active fleets. David also oversaw an operational and safety record that is well regarded across the industry. He previously served on the Board of Directors of Comstock Resources, Inc. from 1996 to 2018. Prior to joining ProPetro, Mr. Sledge was Vice President - Drilling for Basic Energy Services from 2007 to 2009 and was President and Chief Operating Officer of Sledge Drilling Corp., which was sold to Basic Energy Services in 2007. David also spent 25 years working with his father, Gene Sledge, at Gene Sledge Drilling Corporation before the company sold to Patterson Drilling in 1996.

Upon his departure, David will be succeeded in the role of Chief Operating Officer by the Company’s current Senior Vice President of Operations Adam Muñoz. Adam Muñoz joined the Company in 2010 to initiate ProPetro’s Permian pressure pumping operation. Prior to joining ProPetro, Adam held sales and operations roles at Frac Tech Services and Weatherford International. Since joining ProPetro, Adam has served as the Director of Business Development and Technical Services where he was responsible for overseeing the growth of the hydraulic fracturing operations as well as managing the department’s day-to-day technical services. Prior to his current role, Adam served as the Vice President of Frac Services where his duties included leading the hydraulic fracturing division through specific efforts to increase operational efficiencies and maximize financial productivity.

“We are also pleased to see Adam advance his career here at ProPetro,” commented Gobe. “Adam has played an instrumental role in the ProPetro culture of safe, superior performance at the wellsite in addition to developing strong and collaborative relationships with our customers. In his new role, Adam will continue this commitment to excellence and customer satisfaction.”

About ProPetro

ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.


Contacts

ProPetro Holding Corp
Sam Sledge, 432-688-0012
Chief Strategy and Administrative Officer
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Adds to $10 million bill credit already benefiting customers in month of December

WALL, N.J.--(BUSINESS WIRE)--New Jersey Natural Gas (NJNG), the principal subsidiary of New Jersey Resources (NYSE: NJR) today notified the New Jersey Board of Public Utilities (BPU) it will provide residential and small commercial customers with a bill credit of $12.5 million for the month of January. The credit comes on top of a $10 million credit issued for December, a total of $22.5 million delivered to customers over the two-month period.


This one-time additional bill credit will save the typical residential heating customer using 197 therms during the month of January $24.03, or a decrease of 11.3% on their monthly bill.

When combined with the previous credit issued in December, NJNG will have saved the average customer $43.34 over the two-month period.

“With the arrival of winter snowfall and colder temperatures across the state, we are pleased to be able provide another timely bill credit to our customers during the heating season, when bills are typically at their highest,” said Steve Westhoven, President and CEO of New Jersey Natural Gas. “We will continue to utilize our market expertise and prudently manage our costs to identify savings wherever possible for our customers.”

NJNG is able to provide this additional bill credit at this time due to lower natural gas prices. NJNG does not earn a return on the price of natural gas used to serve its customers. This bill credit does not affect NJNG’s profitability.

While delivering this type of direct, broad-based relief benefits all of its customers, NJNG recognizes many customers are still struggling under the economic pressures of the pandemic and has additional resources to help. Any customer who is having trouble paying their bills should contact NJNG to be connected with Energy Assistance programs that can provide other relief, including: deferred payment arrangements, budget plans, utility bill payment assistance, one-time grants, and low- or no-cost energy efficiency programs to reduce consumption and lower bills.

If you or someone you know is a NJNG utility residential customer in need of assistance, call 800-221-0051 and say "energy assistance" at the prompt to speak with an NJNG customer service representative or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,500 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean, Morris, Middlesex and Burlington counties.
  • NJR Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of more than 350 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • Storage & Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River Energy Center and the Adelphia Gateway Pipeline Project, as well as our 50 percent equity ownership in the Steckman Ridge natural gas storage facility, and our 20 percent equity interest in the PennEast Pipeline Project.
  • NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its more than 1,100 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®. For more information about NJR: www.njresources.com.

Follow us on Twitter @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.


Contacts

Media Contact:
Michael Kinney
732-938-1031
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Investor Contact:
Dennis Puma
732-938-1229
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HOUSTON--(BUSINESS WIRE)--National Oilwell Varco, Inc. (the “Company”) (NYSE: NOV) announced today plans to change its corporate name to “NOV Inc.”, effective January 1, 2021. The Company’s ticker symbol, “NOV”, will remain unchanged.


Our Company has a long and proud legacy of innovation and technology dating back to the earliest days of the oilfield. We are committed to continuously improving the drilling and production operations of our customers,” stated Clay Williams, Chairman, President and CEO. “As the world looks to expand its energy portfolio to lower-carbon sources, we find our core engineering, manufacturing and project management expertise is providing new and exciting opportunities within this transition. The corporate name change reflects the Company’s broadening mission within energy to continue to drive economic efficiency and safety, as we have done for decades within traditional oil and gas.”

About NOV

NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.

Visit www.nov.com for more information.

Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995

Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from the actual future events or results. Readers are referred to documents filed by National Oilwell Varco with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.


Contacts

Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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DUBLIN--(BUSINESS WIRE)--The "Project Management Software Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.


The Project Management Software market is expected to register a CAGR of 10.67% during the forecast period (2020 - 2025). As today's corporations increase in size and complexity, an all-inclusive solution is needed to manage and coordinate an entire organization's portfolio of different projects. These solutions help the management to shuffle between plans, workload, budgets, and resources, carefully observe the project progress and report on delivery success.

  • Project management software (PMS) has now evolved into a strategic function of today's business due to the accelerating pace, technological advancements as well as the digital transformation and disruption happening across almost every industry.
  • Some of the factors that are expected to enhance the growth of the Project Management Software (PMS) systems market include increasing usage of software to manage resources, rising demand for the software that minimizes project risk as well as project cost, budget and shuffle plans, help in accessing real-time dashboard anywhere and anytime. On the other hand, the increasing sophistication and rising capabilities such as reminders and setting due dates are also anticipated to provide further impetus to the growth of the market during the forecast period.
  • While the factors, such as increased sophistication of software systems, growing awareness among end users, and ability to connect and integrate multiple disparate systems are anticipated to drive the demand, the high installation costs of setting up these systems coupled with high maintenance costs, are dissuading the enterprises in the end user from investing in project management software systems, thus leading to slow market penetration.
  • Project management has also evolved into a means of new product development, owing to the emergence of the Internet of Things and the adoption of agile NPD, which has now merged with PMS and has led to the development of new firms like UMT360, GenSight, and Decision Lens in the field of enterprise product creation.
  • With the COVID-19 pandemic lurking around, project management software is likely to provide a 360-degree view of analysis in terms of import and fare control, flexibility chain, provincial government strategy, future impact on the business, among others. Hence, the reliance on such digital solutions has greatly increased and is anticipated to witness no retreat even in the post-pandemic era.
  • These software systems also help project managers to evaluate the critical ways in which the pandemic affects their teams to mitigate the negative effects and plans to recover, even remotely. It is evident that enterprises are intending to harness digital channels that could provide proper planning and scheduling, team collaboration, project budgeting, among others, and ultimately leading to supplement and further strengthen their relationships with their customers.

Key Market Trends

Oil and Gas Segment to Witness High Growth

  • Digital transformation, tight budgets owing to global economic conditions, and the need to provide a growth platform cause an intense change in the Oil & Gas industry. The smallest of delays can cost millions of dollars to an oil and gas or chemical company.
  • Projects are increasing in volume, size, and scope, and the need to be scalable has become even more critical. Relying on manual processes and decentralized spreadsheets expose projects to risks and require ample time to prevent errors. The need for accurate forecasts and useful progress reports is essential.
  • Oil & Gas organizations are moving towards a more efficient month-end project process. Instead of manually updating information, organizations are utilizing project management software for real-time accurate project data to focus more time on data analysis over data entry. Industry players are focusing on adopting a disciplined approach to capital investment decisions and leveraging digital technologies to achieve higher capital productivity.
  • The market vendors are forming partnerships to provide the best solutions with the most upgraded technology to the industry. For instance, in July 2020, AVEVA, a global engineering, and industrial software firm, announced that it had formed a digital twin alliance for the upstream oil and gas sector with engineering and project management company DORIS Group energy management and automation specialist Schneider Electric.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increased Sophistication and Growing Awareness Among End Users

4.2.2 Ability to Connect and Integrate Multiple Disparate Systems

4.3 Market Restraints

4.4 Industry Value Chain Analysis

4.5 Industry Attractiveness - Porter's Five Forces Analysis

4.6 Assessment of Impact of Covid-19 on the Market

5 MARKET SEGMENTATION

5.1 Deployment

5.2 End-user Vertical

5.3 Geography

6 COMPETITIVE LANDSCAPE

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

  • Oracle Corporation
  • Microsoft Corporation
  • SAP SE
  • Broadcom Inc. (CA Technologies)
  • Basecamp LLC
  • AEC Software
  • Workfront Inc.
  • ServiceNow Inc.
  • Unit4 NV
  • Atlassian Corporation PLC

For more information about this report visit https://www.researchandmarkets.com/r/3c8z86

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.


Contacts

ResearchAndMarkets.com
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Up to $145 Million Available for Upstream Renewable Natural Gas Projects and Downstream Fueling

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE #RNG--Clean Energy Fuels Corp. (Nasdaq: CLNE) and its largest shareholder, Total S.E., today announced a memorandum of understanding to create a 50/50 joint venture to develop carbon-negative renewable natural gas (RNG) production facilities in the United States, as well as credit support to build additional downstream RNG fueling infrastructure. Total will provide $50 million and Clean Energy $30 million for the proposed joint venture and Total will be providing credit support of $65 million to support Clean Energy development in the RNG value chain, including $45 million for contracted RNG fueling infrastructure.


The companies have already partnered to expand the use of RNG in the heavy-duty truck market with its Zero Now program, which allows fleets to purchase natural gas trucks for the same price as diesel trucks. The demand for carbon-negative RNG, which is derived from dairies and other agricultural facilities, has rapidly accelerated through the Zero Now program with trucking companies such as Kenan Advantage, KeHE Distributors, Estes Express Lines, Tradelink Transport, among many others, taking advantage of the economic savings while powering their new fleets with the cleanest fuel in the world.

Negative-carbon RNG is produced when carbon emissions are captured from dairies and turned into a transportation fuel, reducing the harmful effects on long-term climate change. As a result, the California Air Resources Board gives these carbon-negative RNG projects a carbon intensity (“CI”) Score (gCO2e/MJ) of -250 (or lower) compared to 97 for diesel and 46 for electric batteries. Clean Energy is the largest provider of RNG as a transportation fuel in the United States and Canada, and the largest RNG fuel provider under the California LCFS program.

We are very fortunate to have a partner in Total that is so supportive on a number of levels,” said Andrew J. Littlefair, CEO and president of Clean Energy. “Both our companies have recognized the enormous opportunity that a carbon-negative fuel can play in our ambitious efforts to combat climate change. This new agreement will allow Clean Energy to increase the flow of low-CI RNG as the demand expands, as well as the capital to build new fueling stations for additional contracted fleets.”

Clean Energy’s goal is to meet the rapidly growing demand by customers for carbon-negative RNG and to deliver 100% Redeem™ branded RNG to its entire fueling infrastructure by 2025, which it is well on its way to achieving.

About Clean Energy

Clean Energy Fuels Corp. is the leading provider of the cleanest fuel for the transportation market in the United States and Canada. Through its sales of Redeem™ renewable natural gas (RNG), which is derived from capturing biogenic methane produced from decomposing organic waste, Clean Energy allows thousands of vehicle fleets, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas by at least 70% and even up to 300% depending on the source of the RNG. Clean Energy can deliver Redeem through compressed natural gas (CNG) and liquified natural gas (LNG) to its network of approximately 540 fueling stations across the U.S. and Canada. Clean Energy builds and operates CNG and LNG fueling stations for the transportation market, owns natural gas liquefication facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S. For more information, visit www.CleanEnergyFuels.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 that involve risks, uncertainties and assumptions, such as statements regarding, among other things: the completion and timing of the transaction contemplated by the Memorandum of Understanding (“MOU”); Clean Energy’s plans for its RNG business; increased market adoption of carbon-negative RNG as a vehicle fuel; growth in Clean Energy’s customer base for its Redeem™ RNG vehicle fuel; the strength of Clean Energy’s vehicle fueling infrastructure and its ability to leverage this infrastructure to increase sales of Redeem™ vehicle fuel and to deliver 100% Redeem™ branded RNG to its entire fueling infrastructure by 2025; the benefits of RNG as an alternative vehicle fuel, including economic and environmental benefits; and growth in and certainty of supply of RNG. Actual results and the timing of events could differ materially from those expressed in or implied by these forward-looking statements as a result of a variety of factors, including, among others: Clean Energy’s and TOTAL’S ability to close the joint venture contemplated by the MOU on the timeline anticipated or at all; supply, demand, use and prices of crude oil, gasoline, diesel, natural gas and alternative fuels, as well as heavy-duty trucks and other vehicles powered by these fuels; the willingness of fleets and other consumers to adopt RNG as a vehicle fuel; and general economic, political, regulatory, market and other conditions. The forward-looking statements made in this press release speak only as of the date of this press release and Clean Energy undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain additional information on these and other risk factors that may cause actual results to differ materially from the forward-looking statements contained in this press release.


Contacts

Clean Energy Contact:
Raleigh Gerber
949-437-1397
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Investor Contact:
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SAN FRANCISCO--(BUSINESS WIRE)--With winter months upon us and while many customers are still sheltering, working and schooling from home due to the ongoing pandemic, Pacific Gas and Electric Company (PG&E) is reminding customers to protect themselves against the dangers of carbon monoxide.

According to the Center for Disease Control, every year in the U.S. at least 430 people die from accidental carbon monoxide poisoning and approximately 50,000 people will be sent to the hospital. Carbon monoxide is especially dangerous because it is odorless and can’t be seen, and all California homes are required to have carbon monoxide detectors. Customers can take these steps to protect their homes and their families:

  • Carbon monoxide can be emitted from improperly functioning gas appliances, particularly those used for heating and cooking.
  • To protect your family against potential exposure, carbon monoxide detectors should be installed on every floor, near sleeping areas and common areas.
  • These devices should be tested twice a year, and batteries replaced if necessary.
  • Check the date that the detector was manufactured. The sensors in most carbon monoxide detectors have a useful life of five to 10 years.
  • Most detectors have an audible signal, usually a series of chirps, which differs from the alarm to indicate low battery, malfunction, or device end of life. Refer to the owner's manual or the instructions on the back of the detector for more information.

Gas Safety Tips

  • Never use products inside the home that generate dangerous levels of carbon monoxide, such as generators, outdoor grills, or propane heaters.
  • Never use cooking devices such as ovens or stoves for home heating purposes.
  • Never cover the bottom tray inside an oven with foil or an aftermarket liner.
  • When using the fireplace to stay warm, make sure the flue is open so venting can occur safely through the chimney.
  • Make sure water heaters and other natural gas appliances have proper ventilation.
  • If you suspect carbon monoxide in your home, or if you smell the distinctive "rotten egg" odor of natural gas in or around their home or business, you should immediately evacuate and then call 911 and PG&E at 1-800-743-5000.
  • Click here for more gas safety tips.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit www.pge.com/ and www.pge.com/en/about/newsroom/index.page.


Contacts

MEDIA RELATIONS:
415-973-5930

TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) and Grand Mesa Pipeline, LLC, a wholly-owned subsidiary of NGL (“Grand Mesa”), announced today that Grand Mesa has entered into a settlement agreement with Extraction Oil and Gas, Inc. (NYSE: XOG) as it relates to XOG’s bankruptcy proceedings. Under the settlement, NGL and Extraction entered into a new term supply agreement, retaining Extraction’s crude volumes for shipping on the Grand Mesa Pipeline; and Grand Mesa will receive an allowed unsecured claim which it expects to liquidate for cash proceeds. In consideration for this new supply agreement, Grand Mesa, has agreed to support confirmation of XOG’s bankruptcy plan, including through the withdrawal of its previously filed objection and pending appeals.


The agreements between XOG, NGL and Grand Mesa as described remain subject to approval by the Bankruptcy Court, among other conditions.

Forward Looking Statements

Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the SEC.

Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.


Contacts

NGL Energy Partners LP
Trey Karlovich, 918.481.1119
Executive Vice President and Chief Financial Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.

or

Linda Bridges, 918.481.1119
Senior Vice President – Finance and Treasurer
This email address is being protected from spambots. You need JavaScript enabled to view it.

LONDON--(BUSINESS WIRE)--#GlobalOilfieldDrillingDerrickandMastMarket--The oilfield drilling derrick and mast market is expected to grow by $ 5.42 mn, progressing at a CAGR of almost 3% during the forecast period.



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The increase in oil and gas E&P activities is one of the major factors propelling the market growth. However, factors such as the adoption of alternative energy sources will hamper the market growth.

More details: https://www.technavio.com/report/oilfield-drilling-derrick-and-mast-market-size-industry-analysis

Oilfield Drilling Derrick And Mast Market: Application Landscape

Based on the application, the onshore segment is expected to witness lucrative growth during the forecast period.

Oilfield Drilling Derrick And Mast Market: Geographic Landscape

By geography, North America is going to have a lucrative growth during the forecast period. About 35% of the market’s overall growth is expected to originate from North America. The US and Canada are the key markets for oilfield drilling derrick and mast in North America.

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Companies Covered:

  • Chengdu Zhonghang Machinery Co. Ltd.
  • Drillmec Spa
  • FABTECH International Ltd.
  • Lee C. Moore, A Woolslayer Co.
  • MHWirth AS
  • National Oilwell Varco Inc.
  • Schlumberger Ltd.
  • Superior Derrick Services LLC
  • Tri-Service Oilfield Manufacturing Ltd.
  • TSC Group Holdings Ltd.

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2019, 2020, until 2024
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

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Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Onshore - Market size and forecast 2019-2024
  • Offshore - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Chengdu Zhonghang Machinery Co. Ltd.
  • Drillmec Spa
  • FABTECH International Ltd.
  • MHWirth AS
  • National Oilwell Varco Inc.
  • Schlumberger Ltd.
  • Superior Derrick Services LLC
  • Tri-Service Oilfield Manufacturing Ltd.
  • TSC Group Holdings Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/

PORTLAND, Maine--(BUSINESS WIRE)--WEX (NYSE: WEX), a leading financial technology service provider, has signed an extension of services with LUKOIL North America LLC, a client of WEX for 34 years. The multi-year agreement continues the use of branded fuel cards throughout North America.


“WEX offers a turn-key, innovative and consistently-performing program that allows LUKOIL North America to offer its fleet customers the products and services they expect,” says Jake Naggy, senior manager of commercial activities at LUKOIL North America. “As we expand, WEX will be a key technology partner in that growth.”

LUKOIL North America’s long-standing working relationship with WEX started in 1986 with Getty Petroleum Marketing, Inc., LUKOIL’s predecessor. Since that time, by focusing on customer relationships and technology, both companies have seen rapid growth throughout North America.

“The length of our working relationship is a testament to our professionalism and commitment to customer service,” says Jay Collins, senior vice president and general manager of WEX small business. “Our companies have a deep mutual respect for each other. As LUKOIL grows, we’re committed to growing our partnership, as well.”

About WEX
Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in 20 currencies through approximately 5,000 associates around the world. WEX fleet cards offer 15 million vehicles exceptional payment security and control; purchase volume in travel and corporate solutions grew to approximately $40 billion in 2019; and the WEX Health financial technology platform helps 390,000 employers and more than 32 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.

About LUKOIL North America
LUKOIL North America is a subsidiary of the major global energy company PJSC LUKOIL, and strives to deliver maximum satisfaction to the motoring public through high quality motor fuels and oils with outstanding service. LUKOIL North America markets LUKOIL-branded motor fuels and lubricants through a network of 219 fueling stations across the Northeastern and Mid-Atlantic United States. In addition, LUKOIL North America offers various associate services, including fleet fueling. For more information visit lukoilamericas.com.


Contacts

WEX Contact:
Kellie Jones
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LUKOIL North America Contact:
Jake Naggy
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Nationally recognized leaders in finance, investing, diversity, real estate, environment, technology, health, and community provide their views on the path forward


SAN DIEGO--(BUSINESS WIRE)--#BonnieShaw--The Clearpoint Agency expert Q&A series called The Path Forward seeks to answer the questions facing us today: What will life look like post COVID-19? What are the challenges and opportunities, and what must we learn from the crisis? Are recent racial injustice protests representing an inflection point? Where should business and communities focus? Leaders in business, politics, finance, life sciences, investing, environment, technology, community and more are featured in this ongoing series.

Volume 3, published today, contains the opinions of Chris Marsh, Managing Director, UBS Financial Services, San Diego Market; Patti Perez, Author and Founder and CEO of PersuasionPoint; and Wolf Bielas, Entrepreneur, Investor and Managing Partner of Downtown Works. Volume 1 and Volume 2 are also available, with commentary from other experts.

“We’ve all experienced a turbulent 2020 together. The pandemic is an event that will influence history. But what specific and lasting changes can we anticipate post COVID-19? The economy, politics, racial justice, business, technology, family – every aspect of our lives has been impacted,” said Clearpoint Agency President Bonnie D. Shaw. “This prompted us to ask thought leaders we admire how they think we will evolve as we move forward.”

To access Clearpoint Agency’s Q&A series click here.

If you are a leader in your field or community and would like to be featured in The Path Forward Q&A series, please send an email to This email address is being protected from spambots. You need JavaScript enabled to view it. with your name, title, bio, or LinkedIn profile for consideration.

About Clearpoint Agency

Clearpoint Agency develops award-winning PR and digital marketing programs for B2B and B2C clients in technology, financial services, life sciences, healthcare, e-commerce, associations, and consumer products. From strategy and content development, to media relations and social media, the experts at Clearpoint have the experience to generate buzz for your brand, creatively communicate your message to target audiences, and generate leads. For more information visit www.clearpointagency.com or follow Clearpoint on Facebook, LinkedIn Twitter and Clearview Blog.


Contacts

Hilary McCarthy
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760.230.2424

DUBLIN--(BUSINESS WIRE)--The "Carbon Capture, Utilization & Storage Technologies" report has been added to ResearchAndMarkets.com's offering.


This report provides an analysis of the global market for carbon, capture utilization and storage technologies and current market trends. It uses 2019 as a base year and provides estimates for 2020 and 2025 with a projection of CAGR in the forecast duration. The report includes a discussion of technological factors, competitive factors, and economic trends affecting the market. Furthermore, it explains the major drivers and regional dynamics of the global carbon, capture utilization, and storage technology market and current trends within the industry.

The report covers carbon, capture utilization, and storage technology segments in brief. The global market for carbon, capture utilization, and storage technologies has been analyzed in terms of technologies, source, applications, service, country, and region. The report concludes with detailed profiles of major vendors in the global carbon, capture utilization, and storage technology market. The publisher examined key categories and regions of the carbon, capture utilization, and storage technology market and forecasted market growth from 2020 to 2025.

The global market size estimates are provided both values ($ million) and in volume (million metric ton). All tons in this report are metric tons or MTs (2,205 lbs.), not U.S. tons (2,000 lbs.) unless otherwise noted. The British spelling "tonne" is not used in this report.

Companies Mentioned

  • Accelergy Corp.
  • Alcoa Of Australia Ltd.
  • Basf Se
  • Bayer Materialscience Ag
  • Bioprocess Algae Llc
  • Cambridge Carbon Capture (Ccc)
  • Carbon Cycle Ltd.
  • Carbon Recycling International
  • Carbon8 Systems
  • Carboncure Technologies Inc.
  • Cardia Bioplastics Ltd.
  • Changchun Institute Of Applied Chemistry (Ciac)
  • Dioxide Materials Inc.
  • DNV Research And Innovation (Dnv Gl Group As)
  • E3Tec Service Llc
  • Easel Biotechnologies Llc
  • Econic Technologies Ltd.
  • Empower Materials Inc.
  • ENN Group Co., Ltd.
  • Gas Technology Institute
  • Henan Tianguan Enterprise Group Co., Ltd.
  • Jiangsu Zhongke Jinlong-Cas Chemical Co., Ltd.
  • Joule Unlimited Inc.
  • Lanzatech Inc.
  • Liquid Light Inc.
  • Mbd Energy Ltd.
  • Mitsui Chemicals Inc.
  • Norner As
  • Novomer Inc.
  • Oakbio Inc.
  • Pioneer Energy Inc.
  • Pond Biofuels Inc.
  • Quantiam Technologies Inc.
  • Siemens Ag
  • Sk Energy Co., Ltd.
  • Skyonic Corp.
  • Solidia Technologies Inc.
  • Twence B.V.

The Report Includes:

  • 129 data tables and 22 additional tables
  • An updated overview of the global market for carbon capture, utilization, and storage (CCUS) technologies
  • Analyses of the global market trends, with data from 2019, estimates from 2020 to 2024, and projections of compound annual growth rates (CAGRs) through 2025
  • Identification of key market dynamics, trends, opportunities, and factors influencing the global carbon, capture utilization & storage technologies market and its sub-segments
  • Estimation of the actual market size and revenue forecasts for overall carbon, capture utilization & storage technologies market in global and deep dive into the data on the basis of technologies, source, applications, service, and country
  • Insight into the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
  • Evaluation of the companies best positioned to meet the current and future demand of carbon, capture utilization, and storage technologies owing to their proprietary technologies, strategic alliances, or other advantages

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Executive Summary

Chapter 3 Overview of the Carbon Industry

Chapter 4 Global CCUS Market Dynamics

  • Importance of Carbon Capture Technologies
  • How COVID-19 Has Impacted the CCUS Market
  • How Carbon Capture Technologies Support the Power Transition
  • Address Existing Plant Emissions
  • Stable Power Flexibility
  • Emissions Net Nil and Negative
  • Support for CO2 Infrastructure Will be an Essential Element of Policy Incentives for CCUS
  • Carbon Capture Technologies are Important for Achieving Climate Objectives, Widening the Portfolio of Low-Carbon Power Sources
  • Tackling Emissions from Existing Plants
  • Retrofitting Carbon Capture Technologies Makes the Most Sense for Power Plants That are Well Located, Young and Efficient
  • Net-Zero and Negative Emissions
  • Carbon Capture with Bioenergy Becomes Increasingly Cost-Competitive with Fossil Fuel-Based CCUS at Higher Carbon Prices
  • How Carbon Capture Affects Thermal Power Plant Flexibility
  • Select Insights from Industry Leaders

Chapter 5 Global CCUS Market Outlook

Chapter 6 Market Breakdown by Technology

Chapter 7 Market Breakdown by Service

Chapter 8 Market Breakdown by Source

Chapter 9 Market Breakdown by Application

Chapter 10 Opportunities in the Global Market

  • Power Generation
  • Coal
  • Gas
  • Biomass
  • Industrial Processes
  • Gas Processing
  • Refining
  • Chemicals
  • Petrochemical Building Blocks
  • Ammonia Production
  • Methanol Production
  • Biofuels
  • Iron and Steel
  • Cement
  • Pulp and Paper
  • Aluminum

Chapter 11 North American CCUS Market Outlook

  • United States
  • U.S. Regulation
  • Technology Development Support
  • CCUS Plants and Projects
  • Canada
  • Canadian Regulation of Carbon Emissions
  • Technology Development Support
  • CCUS Plants and Projects

Chapter 12 European CCUS Market Outlook

Chapter 13 Asia-Pacific CCUS Market Outlook

Chapter 14 LAMEA CCUS Market Outlook

Chapter 15 Emerging Technologies

Chapter 16 Profiles of Leading Companies

For more information about this report visit https://www.researchandmarkets.com/r/pkwl6t


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
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SAN DIEGO--(BUSINESS WIRE)--EDF Renewables North America today announced the Space City Solar Project is progressing with critical development milestones having signed the first tranche of 55 megawatts (MWac) / 73 MWdc to BASF through a Power Purchase Agreement. The Project’s total capacity is up to 345 MWac / 455 MWdc. Space City Solar, located in Wharton County, Texas, is expected to commence construction in Summer 2021 and begin delivery of clean electricity in Summer 2022.


Approximately 300 jobs are expected to be created during the construction phase with more than $30 million generated in new tax revenue over the operating life for Wharton County taxing entities. In addition to providing stable payments to local landowners who chose to lease their land, the Louise Independent School District has the ability to receive $2.5 million in revenue, including $1.8 million in the first year of operation providing the district enacts a Chapter 313 Agreement by December 31, 2020.

Space City Solar is specially designed to generate clean energy while minimizing impacts to wildlife, habitat, and other environmental resources. The project will utilize high efficiency bifacial solar photovoltaic (PV) modules.

“This transaction demonstrates EDF Renewables’ continued commitment to helping corporate customers meet their wholesale power supply needs and sustainability initiatives,” said Matt McCluskey, Vice President, South Region Development for EDF Renewables. “Space City Solar will provide an economic boost to the local economy through construction jobs, local spend and an expanded tax base.”

With 35 years of experience and 16 gigawatts of renewable projects developed throughout North America, EDF Renewables provides a fully integrated bundle of energy solutions from grid-scale wind, solar, and solar plus storage projects to electric vehicle charging and energy storage management.

About EDF Renewables North America:

EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar, solar+storage, EV charging and energy management; and asset optimization: technical, operational, and commercial skills to maximize performance of generating projects. EDF Renewables’ North American portfolio consists of 16 GW of developed projects and 11 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renouvelables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.

About BASF:

BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 20,000 employees in North America and had sales of $19.7 billion in 2018. For more information about BASF’s North American operations, visit www.basf.com.

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 122,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of around €63 billion in 2018. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.


Contacts

Sandi Briner, +1 858-521-3525
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LONDON--(BUSINESS WIRE)--#GlobalFlexiblePipesMarketforOilandGas--The flexible pipes market for oil and gas is poised to grow by USD 123.54 mn during 2020-2024, progressing at a CAGR of over 2% during the forecast period.



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The report on the flexible pipes market for oil and gas provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

The report offers an up-to-date analysis regarding the current global market scenario and the overall market environment. The market is driven by rising investment in upstream oil and gas activity.

The flexible pipes market for oil and gas analysis includes type segment and geography landscape. This study identifies the growing acceptance of engineering-grade flexible materials as one of the prime reasons driving the flexible pipes market for oil and gas growth during the next few years.

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

The flexible pipes market for oil and gas covers the following areas:

Flexible Pipes Market For Oil And Gas Sizing

Flexible Pipes Market For Oil And Gas Forecast

Flexible Pipes Market For Oil And Gas Analysis

Companies Mentioned

  • Airborne Oil & Gas BV
  • Continental AG
  • FlexSteel Pipeline Technologies Inc.
  • General Electric Co.
  • MAGMA GLOBAL Ltd.
  • National Oilwell Varco Inc.
  • Prysmian Spa
  • Shawcor Ltd.
  • TechnipFMC Plc
  • Wienerberger AG

Related Reports on Energy Include:

  • Floating Power Plant Market by Technology and Geography - Forecast and Analysis 2020-2024- The floating power plant market size has the potential to grow by 1204.04 MW during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 2.38%. To get extensive research insights: Click and get FREE sample report in minutes
  • Sand Control Systems Market by Application and Geography - Forecast and Analysis 2020-2024- The sand control systems market size has the potential to grow by USD 418.62 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and get FREE sample report in minutes

Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five force summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Offshore - Market size and forecast 2019-2024
  • Onshore - Market size and forecast 2019-2024
  • Market opportunity by Application

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • HDPE - Market size and forecast 2019-2024
  • PA - Market size and forecast 2019-2024
  • PVDF - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Volume drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Airborne Oil & Gas BV
  • Continental AG
  • FlexSteel Pipeline Technologies Inc.
  • General Electric Co.
  • MAGMA GLOBAL Ltd.
  • National Oilwell Varco Inc.
  • Prysmian Spa
  • Shawcor Ltd.
  • TechnipFMC Plc
  • Wienerberger AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

Register for a free trial today and gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) announced today that Todd A. Stevens, President and Chief Executive Officer, will be leaving the Company on December 31. Mark A. (“Mac”) McFarland, the Company’s Executive Chairman, will serve as interim Chief Executive Officer and James N. Chapman will serve as Lead Independent Director. The Board of Directors will launch a search process for the Company’s next CEO.


Mr. McFarland said, “Todd has led this organization through a very challenging period of time in our industry and the Company’s new board is thankful for his service and dedication. Looking forward, we will continue to focus on providing affordable energy in a safe and environmentally responsible manner and will engage proactively with our employees, regulators and stakeholders. In addition to our CEO search, we have initiated a full-scale business review and strategic repositioning effort with specific emphasis on cost reductions, capital discipline and asset rationalization to create value for our shareholders.”

Mr. Stevens said, “It has been an honor to work with the men and women of CRC over the last 6+ years. I want to express my deepest gratitude to them and wish them and the Company all the best in the future.”

Forward-Looking Statement Disclosure

All statements, except for statements of historical fact, made in this release regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, the Company expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.

The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to the Company’s business, most of which are difficult to predict and many of which are beyond the Company’s control. These risks include, but are not limited to, the risks described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequently filed Quarterly Reports on Form 10-Q.

About California Resources Corporation

California Resources Corporation is the largest oil and natural gas exploration and production company in California. The Company operates its world-class resource base exclusively within the State of California, applying complementary and integrated infrastructure to gather, process and market its production. Using advanced technology, the Company focuses on safely and responsibly supplying affordable energy for California by Californians.

 


Contacts

Scott Espenshade (Investor Relations)
(818) 661-6010
This email address is being protected from spambots. You need JavaScript enabled to view it.

Margita Thompson (Media)
(818) 661-6005
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Transaction Highlights


  • Strategically repositions Blueknight as a pure-play, downstream terminalling company focused on infrastructure and transportation end markets
  • Materially improves financial flexibility and pro forma leverage to approximately 2.0 times
  • Maintains annual coverage ratio of 1.2 times or greater on all distributions and strengthens stability of underlying cash flows
  • Expected to generate $1.5 to $2.5 million in additional annual corporate savings and reduce annual maintenance capital expenditures to $5.5 to $6.5 million

TULSA, Okla.--(BUSINESS WIRE)--Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) announced today that it has entered into multiple definitive agreements to sell its crude oil terminalling, pipeline, and trucking business segments for approximately $162 million in total cash consideration, including estimated crude oil linefill and inventory. Net proceeds, after transaction costs, will be used initially to reduce borrowings outstanding under the Partnership’s revolving credit facility and for general partnership purposes.

This announcement represents a significant milestone as we transition Blueknight away from traditional oil and gas operations into a pure-play, downstream terminalling business focused on infrastructure and transportation end markets,” said Andrew Woodward, Chief Executive Officer. “We are excited about the financial flexibility to both materially improve our balance sheet and pursue future investment opportunities predicated on risk-adjusted returns while maintaining our long-term financial targets.”

Pro forma for the transactions, Blueknight’s differentiated, asphalt terminalling business delivers an industry-leading, stable cash flow profile underpinned by long-term, take-or-pay contracts with a weighted average term of six years. Our leverage ratio is expected to be approximately 2.0 times initially, and our coverage ratio on all distributions is expected to be approximately 1.2 times or greater on an annual basis. We believe these transactions, coupled with our new and improved strategy, best position the Partnership for long-term growth and success,” added Woodward.

Woodward concluded, “I would also like to express my deepest thanks to all the employees who have supported these operations over the years and during this time of transition. On behalf of the entire organization, we sincerely appreciate all of your hard work and continued dedication.”

Transaction Details

Blueknight entered into a definitive agreement to sell its crude oil terminalling segment to Enbridge, Inc. (NYSE: ENB) for a purchase price of $132 million, subject to customary adjustments and excluding crude oil linefill and inventory. This segment includes approximately 6.6 million barrels of crude oil storage in Cushing, Oklahoma. The transaction is subject to Hart-Scott-Rodino review and closing is expected to occur within the next 60 days.

In addition, Blueknight entered into a separate definitive agreement to sell its crude oil pipeline business to subsidiaries of CVR Energy, Inc. (NYSE: CVI) for a purchase price of $20 million, subject to customary adjustments and excluding crude oil linefill and inventory. This business includes 604 miles of crude oil pipeline and approximately 0.3 million barrels of related crude oil storage located primarily in Oklahoma. The transaction is subject to customary terms and conditions and closing is expected to occur within the next 45 days.

Consideration for crude oil linefill and inventory is estimated in accordance with market-based valuation formulas set forth in each of the respective agreements and is subject to change at closing.

Lastly, Blueknight entered into a definitive agreement to sell its crude oil trucking business to an undisclosed buyer, subject to customary adjustments.

Advisors

Simmons Energy | A Division Of Piper Sandler is serving as financial advisor and Gibson, Dunn & Crutcher LLP is serving as legal counsel to Blueknight. Sidley Austin LLP is serving as legal counsel to Enbridge, Inc. Baker Botts LLP is serving as legal counsel to CVR Energy, Inc.

Forward-Looking Statements

This release includes forward-looking statements. Statements included in this release that are not historical facts (including, without limitation, any statements about future financial and operating results, guidance, projected or forecasted financial results, objectives, project timing, expectations and intentions and other statements that are not historical facts) are forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. These risks and uncertainties include, among other things, uncertainties relating to the Partnership’s debt levels and restrictions in its credit agreement, its exposure to the credit risk of our third-party customers, the Partnership’s future cash flows and operations, future market conditions, current and future governmental regulation, future taxation and other factors discussed in the Partnership’s filings with the Securities and Exchange Commission. If any of these risks or uncertainties materializes, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. The Partnership undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About Blueknight

Blueknight owns and operates a diversified portfolio of complementary midstream energy assets consisting of:

  • 8.8 million barrels of liquid asphalt storage located at 53 terminals in 26 states;
  • 6.9 million barrels of above-ground crude oil storage capacity located primarily in Oklahoma, approximately 6.6 million barrels of which are located at the Cushing Interchange terminalling facility in Cushing, Oklahoma;
  • 604 miles of crude oil pipeline located primarily in Oklahoma; and
  • 63 crude oil transportation vehicles deployed in Oklahoma and Texas.

Blueknight provides integrated terminalling, gathering and transportation services for companies engaged in the production, distribution and marketing of liquid asphalt and crude oil. Blueknight is headquartered in Tulsa, Oklahoma. For more information, visit the Partnership’s website at www.bkep.com.


Contacts

Chase Jacobson, Blueknight Investor Relations
(918) 237-4032
This email address is being protected from spambots. You need JavaScript enabled to view it.

McNally Capital and Genesys Management Team Sell Aircraft Avionics Business to Moog Inc.

CHICAGO--(BUSINESS WIRE)--#aerospace--McNally Capital (“McNally”), a leader in Direct Family Capital, is pleased to announce the sale of Genesys Aerosystems (“Genesys”) to Moog Inc. (NYSE: MOG.A and MOG.B). Genesys is a leading provider of integrated avionics systems for military, special-mission, and civil operators.


McNally invested in Genesys in partnership with the company’s founders. The investment stemmed from McNally’s focus on the aerospace & defense industry and was consistent with the firm’s strategy of partnering with founders and management owners to provide them with family capital.

Ward McNally, Managing Partner and Founder of McNally Capital, stated, “I’m proud of the partnership we’ve built with the Genesys management team. The sale of Genesys is a further proof point of our ability to create value for our investors and management teams through a full transaction lifecycle. It is also a testament to our track record of successfully bringing family capital and industry expertise to founder-owned businesses.”

McNally Capital partnered on the acquisition with Robert (“Rob”) Wilson, former President of Business Aviation & General Aviation at Honeywell, who brought his extensive aerospace expertise to Genesys. Rob worked alongside the management team and McNally to develop a long-term strategic plan and served on the Board of Directors of Genesys.

“McNally’s history of investing family capital alongside founders and management owners made us the right partner for the management team at Genesys. Our internal expertise in the Aerospace & Defense industry, alongside the knowledge and experience of Rob Wilson, enabled us to further establish Genesys as a leader in the aircraft avionics sector,” stated Ravi P. Shah, Principal at McNally Capital.

Roger Smith, Genesys President and CEO, stated, “Our decision to partner with McNally Capital was based on their tremendous industry expertise, track record of partnering with founders and management teams to drive growth, and capital resources. We greatly appreciate the support McNally has provided us. The firm, and their partnership with Rob [Wilson], has enabled us to further establish Genesys as a mission-critical systems provider and provide a fulfilling work environment. We are excited to have found a new partner in Moog, which positions us to continue to develop our team and to serve our customers with industry-leading avionics solutions.”

McNally Capital invests capital on behalf of the McNally family, who owned and operated Rand McNally & Company, as well as family offices and other like-minded investors. The firm is currently investing out of a committed fund. McNally makes thesis-driven investments in the U.S. and looks for businesses where family capital can benefit owners and management teams. The firm targets founder- and management-owned companies and partners in their acquisitions with a bench of Industry Partners, who provide incremental industry and operating knowledge and expertise.

McNally Capital is focused on combining the best of family capital values with institutional capabilities and sophistication. The firm targets lower middle market businesses with $5 to $30 million in EBITDA.

Stephens Inc. served as the sell-side advisor to Genesys Aerosystems. Ropes & Gray LLP served as legal counsel.

About McNally Capital

McNally Capital is a family-owned private equity firm targeting thesis-driven investments in the U.S., specifically founder and management-owned companies. Formed by the McNally family, who owned and operated Rand McNally & Company, McNally Capital is dedicated to upholding a 140+ year legacy as a family-owned and operated company. We look for businesses where flexible capital can provide a benefit to owners and management teams. Our mission is to harness the financial, intellectual, and human capital of our family office and investor ecosystem to build value for our investors, management teams, and portfolio companies. For more information, please visit www.mcnallycapital.com.

About Genesys Aerosystems

Genesys Aerosystems is a leading provider of integrated avionics systems for military, special-mission, and civil operators. Product lines include flight displays, radios, autopilots, and sensors. For more information, visit www.genesys-aerosystems.com.

About Moog Inc.

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine and medical equipment. Additional information about the company can be found at www.moog.com.


Contacts

Beth Rahn, Principal & Head of Family Capital, (312) 357-3717, This email address is being protected from spambots. You need JavaScript enabled to view it.

LONDON--(BUSINESS WIRE)--#GlobalWellheadEquipmentMarket--The wellhead equipment market is poised to grow by USD 0.61 bn during 2020-2024, progressing at a CAGR of over 2% during the forecast period.



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The report on the wellhead equipment market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

The report offers an up-to-date analysis regarding the current global market scenario and the overall market environment. The market is driven by rising oil and gas consumption.

The wellhead equipment market analysis includes application segment and geography landscape. This study identifies the increasing number of deep and ultra-deepwater drilling projects as one of the prime reasons driving the wellhead equipment market growth during the next few years.

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

The wellhead equipment market covers the following areas:

Wellhead Equipment Market Sizing

Wellhead Equipment Market Forecast

Wellhead Equipment Market Analysis

Companies Mentioned

  • Aker Solutions ASA
  • Baker Hughes Co.
  • Dril-Quip Inc.
  • Forum Energy Technologies Inc.
  • Nabors Industries Ltd.
  • National Oilwell Varco Inc.
  • Oil States International, Inc.
  • TechnipFMC Plc
  • The Weir Group Plc
  • Wellhead Systems Inc.

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Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Onshore - Market size and forecast 2019-2024
  • Offshore - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Aker Solutions ASA
  • Baker Hughes Co.
  • Dril-Quip Inc.
  • Forum Energy Technologies Inc.
  • Nabors Industries Ltd.
  • National Oilwell Varco Inc.
  • Oil States International Inc.
  • TechnipFMC Plc
  • The Weir Group Plc
  • Wellhead Systems Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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