Perspective: How Tariffs Are Hurting U. S. Fuel And Chemical Manufacturers

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Perspective:
How tariffs are hurting U.S. fuel and chemical manufacturers

Perspective:
How tariffs are hurting U.S. fuel and chemical manufacturers

Recent coverage of the U.S.-China trade talks has focused on protecting agriculture and intellectual property. As negotiations approach the final phase, the impact of tariffs on U.S. refiners and petrochemical manufacturers — whose products support industries across the economy and fuel consumers every day — is still going largely unnoticed.As trade discussions repeatedly come up short, American fuel and petrochemical producers continue to be denied access to one of their most important markets and struggle to plan for the future, amid higher costs for materials essential to midstream infrastructure and an uncertain policy environment.Read the full perspective, "
How tariffs are hurting U.S. fuel and chemical manufacturers,"
at houstonchronicle.Com.

Headquartered in Luxembourg, ChemChain’s proprietary IP and technology will bring an expanded, innovative approach to further augment 3E’s Supply Chain &
Sustainability solution, 3E Exchange. 3E Exchange’s unified supply chain platform helps customers organize their global library of supply chain data and streamline workflows in a scalable and compliant manner. Specifically, 3E leverages its market leading digital product passport and renowned regulatory content capabilities to drive best-in-class supply chain management for its growing list of customers. Together, 3E and ChemChain are united in their mission to accelerate global supply chain transparency and sustainability with a unique combination of technology and regulatory expertise.“ChemChain and 3E share a vision to create a safer, more sustainable world that protects people, safeguards products, and helps businesses grow,” said Greg Gartland, Chief Executive Officer of 3E. “Together with ChemChain, 3E offers an unmatched combination of global regulatory expertise and a cutting-edge platform that dramatically simplifies transferring information along the value chain in a transparent and secure manner. 3E improves cross-functional engagement across global enterprises, and future-proofs products against ever-changing regulations. We look forward to the continued expansion of our supply chain solutions and empowering our clients to further accelerate their sustainability efforts.”With 175,000+ supplier relationships across all major geographies, the 3E Exchange platform drives a strong return-on-investment for its customers. Powered by 3E’s market leading regulatory expertise covering over 500,000 chemical substances, 3E Exchange enables superior supply chain management while also advancing companies’ ESG objectives. Continued momentum towards sustainable supply chains has highlighted that preparing for a circular economy should be a critical component of every company’s product strategy.Pete Girard, Managing Director of Supply Chain and Sustainability at 3E, said “The acquisition of ChemChain illustrates our continued focus on supply chain product innovation and thought leadership. The ChemChain team has incubated a novel and tech-forward approach to drive digital product passport adoption, and we look forward to integrating these technologies into 3E Exchange.”“The highly scalable digital product passport model offers a single source of truth that underpins sustainable supply chain management, while ensuring maximum protection of company trade secrets” added Lorenzo Zullo, Co-Founder and CEO of ChemChain. “As part of 3E, and leveraging tracked experience in end-to-end supply chain transparency across multiple industries, including textile &
clothing, furniture, and detergents, ChemChain will accelerate innovation and position customers for success in the face of a highly complex and dynamic global regulatory landscape.”ChemChain represents 3E’s fourth acquisition announcement since its separation from Verisk in March 2022.Shearman &
Sterling LLP served as the legal advisor to 3E. Cambrian and Elev8law served as the legal advisors to ChemChain.About 3EFor more than 35 years the world’s leading companies have trusted 3E to provide the intelligent compliance solutions they need to ensure safety and sustainability. Unmatched Environmental, Health, Safety and Sustainability (EHS&
S) and product compliance expertise empowers clients to improve chemical and workplace safety, product safety and stewardship and supply chain transparency. 3E is deeply committed to serving its more than 5,000 customers worldwide, representing a wide variety of industries and including the world’s largest chemical manufacturers, retailers and pharmaceutical companies.About ChemChainChemChain is a trusted, decentralized, and globally accepted infrastructure that enables customers to build, exchange, store, and track chemical-related information along the supply chain. ChemChain’s proprietary architecture, underpinned by blockchain technology, facilitates a scalable and tamper-proof digital product passport environment.

Leading eFuels provider Infinium and Amogy Inc. ("
Amogy"
), a pioneer of carbon-free, energy-dense power solutions, have entered into a memorandum of understanding (MOU) to explore opportunities to integrate their technologies and develop commercial applications across the eFuels and green ammonia value chain. Infinium and Amogy are also exploring collaborations with both Mitsubishi Heavy Industries (MHI) Group and SK Innovation for deployment of the integrated solution.To accelerate the decarbonization of heavy industry sectors, the companies will jointly study and identify the most suitable applications to deploy their eFuels and green ammonia solutions. A key focus of this collaboration is the potential integration of Amogy's ammonia-cracking technology to provide low-cost, accessible green hydrogen feedstock as an input to produce Infinium's eFuels.Infinium eFuels, also known as electrofuels or Power-to-X, are made from green hydrogen and waste carbon dioxide (CO2) in a proprietary process. Amogy's ammonia-cracking technology leverages its state-of-the-art catalyst materials to crack ammonia into hydrogen and nitrogen at lower reaction temperatures with high durability, reducing heating and maintenance requirements.Upon identifying promising applications, Infinium and Amogy will initiate strategic pilot programs, showcasing tangible and scalable implementations of their clean technology solutions. The partnership also entails the evaluation of additional opportunities for collaboration within the eFuels and ammonia spaces, with a focus on the development of commercial use cases."
Ingenuity and collaboration are critical to creating decarbonization solutions today. Our partnership with Amogy will go a long way toward helping advance our ability to rapidly scale the production of ultra-low carbon Infinium eFuels, including eSAF, eDiesel and eNaphtha,"
said Robert Schuetzle, CEO at Infinium."
We are thrilled to forgethis alliance with Infinium. By uniting our expertise and resources, we aim to unlock innovative opportunities that will pave the way for sustainable solutions,"
says Seonghoon Woo, CEOof Amogy. "
This partnership reflects a shared commitment to accelerating technologies that can contribute to the reduction of carbon emissions in the heavy industry sectors."
Mitsubishi Heavy Industries (MHI) has invested in both Infinium and Amogy and is exploring potential collaboration for new solutions and applications in energy sector project development."
Decarbonizing heavy industries requires numerous approaches that can concurrently and collaboratively help mitigate greenhouse gas emissions,"
said Ricky Sakai, Senior Vice President of New Business Development at MHI of America. "
We are excited to see how Amogy's emission-free, energy-dense ammonia solution and Infinium's proprietary eFuels production process might be aligned to overcome challenges and accelerate the global availability of commercial decarbonization solutions."
SK Trading International(SKTI) invests in solutions that contribute to addressing climate change and environmental pollution and is an investor in Infinium while its parent company SK Innovation has invested in Amogy."
Our global goals to slowthe warming of the planet require significant efforts so they can quickly scale, find synergies, and explore new pathways,"
said Hyunchol Park, Managing Director and Head of Global Trading at SKTI. "
Infinium and Amogy are leaders in their progress and proven solutions, and I believe their partnership will result in the identification of breakthrough opportunities to expand and grow access to cleaner fuels."
About InfiniumInfinium is an electrofuels provider on a mission to decarbonize the world. Electrofuels are a new class of synthetic fuels made using renewable power and waste carbon dioxide, not petroleum or resources needed to produce food. Infinium electrofuels can be dropped into existing trucks, planes and ships, significantly reducing harmful carbon dioxide emissions compared to fossil-based fuels. In addition to helping the transport industry meet carbon reduction goals, Infinium electrofuels are a lower carbon alternative for chemical processing, including plastics production.About AmogyFounded in 2020, Amogy is on a mission to unlock the potential of ammonia as a clean energy source, accelerating the global journey to Net Zero and sustaining future generations. With a presence in Brooklyn, Houston, Norway, and Singapore, Amogy is developing fully integrated ammonia-to-power systems to enable the decarbonization of the hard-to-abate sectors, such as shipping, power generation, and heavy-duty transportation.

MacDermid Enthone Industrial Solutions | January 05, 2024

MacDermid Enthone Industrial Solutions, an Element Solutions Inc ("
ESI"
) company and leading surface finishing technology provider, today announced the acquisition of All-Star Chemical Company's surface finishing and cleaning chemical solutions. Going forward, All-Star's proprietary chemical solutions will be integrated into the MacDermid Enthone Industrial Solutions portfolio."
We are thrilled to announce the addition of All-Star Chemical's metal finishing solutions to the MacDermid Enthone portfolio. This addition will further enhance our ongoing effort to provide industry-leading surface finishing solutions and also bring exceptional talent to our organization,"
said Glen Breault, VicePresident, North America at MacDermid Enthone Industrial Solutions. "
All-Star Chemical's focus on customer service and strong partnerships within the automotive and EV sector align with our commitment to best-in-class service and industry-leading partnerships."
Established in 1983, All-Star Chemical Company, a family owned and operated business, has a rich history of supplying high quality products and service to their customers. The business is headquartered in Westerville, Ohio and serves customers across the mid-western United States."
Together, with the team at MacDermid Enthone, we are excited about the future,"
said Brian Saas, President of All-Star Chemical Co, who will be joining the MacDermid Enthone team. "
We are confident that this transition will provide our customers with the best avenue for growth and success."
As the surface finishingindustry continues to evolve, both companies are committed to securing a profitable and sustainable future for their customers and the markets they serve.About MacDermid Enthone Industrial SolutionsEstablished in 1922, MacDermid Enthone Inc., operating as MacDermid Enthone Industrial Solutions, stands as a global leader, specializing in the manufacture of chemical compounds catering to all facets of surface finishing applications. Their product portfolio includes innovative solutions designed to meet the evolving demands of the dynamic surface finishing industry and ever-changing customer requirements, with a strong focus on sustainable technologies and enhanced technical support. MacDermid Enthone Industrial Solutions operates as a business unit of Element Solutions Inc (NYSE:
ESI), a diversified specialty chemicals company serving a broad spectrum of industries with innovative solutions that enhance everyday products.

APA Corporation and Callon Petroleum Company have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt. Under the terms of the transaction, each share of Callon common stock will be exchanged for a fixed ratio of 1.0425 shares of APA common stock. The transaction is expected to be accretive to all key financial metrics and add to APA’s inventory of high quality, short-cycle opportunities. Callon’s assets provide additional scale to APA’s operations across the Permian Basin, most notably in the Delaware Basin, where Callon has nearly 120,000 acres. On a pro forma basis, total company production exceeds 500,000 BOE per day and enterprise value increases to more than $21 billion.Key HighlightsCombination of Callon’s Delaware-focused footprint with APA’s Midland-focused footprint provides scale and balance in the Permian Basin;
APA’s oil-prone acreage in the Midland and Delaware Basin combined will increase by more than 50% following the transaction;
Expected to be accretiveon key financial and value metrics;
Estimated overhead, operational and cost-of-capital synergies to exceed $150 million annually;
andAdditional scale anticipated to improve credit profile;
pro forma balance sheetwill remain strong with leverage at 1.1x net debt / adjusted EBITDAX.Management Commentary“This transaction is aligned with APA’s overall portfolio strategy and fits all the criteria of our disciplined approach to evaluating external growth opportunities. Callon has built a strong portfolio in the Permian Basin that is complementary to our existing Permian assets and rounds out our opportunity set in the Delaware,” said John J. Christmann IV, APA’s CEO and president. “The acquisition is accretive and unlocks value for both shareholder bases, as increased scale will enable us to realize significant overhead and cost-of-capital synergies. The pro forma footprint in the Permian will also create opportunities to capture meaningful operating synergies.”“We are very proud of the significant steps we have taken to enhance Callon’s asset base, operational performance and balance sheet over the past several years,” said Joe Gatto, Callon’s president and CEO. “This combination with APA now provides for an enhanced value proposition for our shareholders built on their depth of experience and strong execution in the Permian Basin, flexibility for increased capital allocation, and ongoing delineation and optimization efforts. Importantly, I would like to personally thank each and every Callon employee for their role in building this company. I am very proud of this team and what we have achieved together.”Combined Permian Asset Position and Preliminary 2024 Planned ActivityPro forma average daily Permian Basin production was 311 Mboe/d in 3Q 2023, which represents a 48% increase from APA’s Permian Basin production on a standalone basis. APA's oil production as a percentage of BOE’s in the Permian increases from approximately 37% to 43% in 3Q 2023, on a pro forma basis.APA will provide additional activity plans and details post closing.Pro Forma APA Positioning“APA has a proven ability to deliver strong results from its unconventional assets in the Permian Basin, and we look forward to building on the progress that the team at Callon has made within its asset base. This transaction is aligned with our strategy of maintaining and growing a diversified portfolio, underpinned by large-scale core areas of operation while continuing to build a portfolio of medium and longer-term exploration-driven development opportunities,” Christmann said.Following the closing, the company’s worldwide pro forma production mix will be approximately 64% U.S. / 36% international.APA’s global portfolio includes ongoing development on large-scale legacy assets in the U.S. and Egypt. The company is also advancing a FEED process for a large-scale FPSO development offshore Suriname. In addition to current production and development activities across the globe, APA maintains a differentiated exploration portfolio, which includes newly acquired large-scale blocks offshore Uruguay and onshore state-land leases in Alaska.About APAAPA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.Apacorp.Com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor.About Callon PetroleumCallon Petroleum Company is an independent oil and natural gas company focused on the acquisition, exploration and sustainable development of high-quality assets in the Permian Basin in West Texas.Pro forma enterprise value is derived from the addition of each company’s market capitalization based on closing stock prices on 1/3/24, plus the net debt of each company as of 9/30/23.

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