They are the building blocks of our daily stuff, from sports shoes to computer keyboards, created when oil and natural gas molecules are split, or cracked, to produce ethylene, propylene and other chemicals.
The science may be esoteric, but petrochemicals are big business in the oil-rich Persian Gulf, and they’re poised for further growth. Energy producers view these compounds increasingly as a key to unlocking more profit from each barrel of crude they pump.
Just last month, Abu Dhabi and Qatar each announced plans for new plants. In April, Saudi Arabian Oil Co., the world’s biggest crude exporter also known as Saudi Aramco, teamed up with Total SA for a $5 billion facility in the kingdom and signaled its intention to invest in the U.S. Arab oil producers in the Gulf are boosting capacity at home and abroad to secure sales in a business that McKinsey and Co. estimates will drive 70 percent of the growth in demand for oil through 2035.
Crude producers can earn $15 a barrel by refining their output and an extra $30 on top of that by converting it into petrochemicals, with oil at $65 a barrel, according to Abdulwahab Al Sadoun, secretary-general of the Gulf Petrochemicals & Chemicals Association, or GPCA. These economics make further expansion into the industry “highly likely by all the regional players.”
Best Growth Stocks For 2019: Duff & Phelps Utilities Income, Inc.(DNP)
- [By Shane Hupp]
Stratos Wealth Partners LTD. lifted its holdings in DNP Select Income Fund Inc. Common Stock (NYSE:DNP) by 108.1% during the first quarter, Holdings Channel reports. The institutional investor owned 17,485 shares of the investment management company’s stock after purchasing an additional 9,084 shares during the period. Stratos Wealth Partners LTD.’s holdings in DNP Select Income Fund Inc. Common Stock were worth $180,000 as of its most recent filing with the SEC.
Best Growth Stocks For 2019: China Cord Blood Corporation(CO)
- [By Motley Fool Staff]
Global Cord Blood (NYSE:CO) Q4 2018 Earnings Conference CallJun. 27, 2018 8:00 a.m. ET
Prepared Remarks Questions and Answers Call Participants
- [By Stephan Byrd]
Alta Mesa Resources (NASDAQ: AMR) and Global Cord Blood (NYSE:CO) are both oils/energy companies, but which is the better investment? We will compare the two companies based on the strength of their analyst recommendations, valuation, dividends, profitability, earnings, institutional ownership and risk.
- [By Max Byerly]
Global Cord Blood (NYSE: CO) and Alta Mesa Resources (NASDAQ:AMR) are both medical companies, but which is the superior stock? We will contrast the two companies based on the strength of their risk, analyst recommendations, dividends, earnings, profitability, valuation and institutional ownership.
- [By Shane Hupp]
Shares of Global Cord Blood Corp (NYSE:CO) dropped 5.8% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $9.05 and last traded at $9.34. Approximately 677,976 shares traded hands during mid-day trading, an increase of 222% from the average daily volume of 210,845 shares. The stock had previously closed at $9.92.
Best Growth Stocks For 2019: FIRST REPUBLIC BANK(FRC)
- [By Garrett Baldwin]
The Dow was flat this morning as major banks report earnings. Shares of JPMorgan Chaseadded nearly 1% after the company reported a record Q2 profit. The company also reported stronger results from its trading division, which likely benefited from recent market volatility. Its earnings per share of $2.29 was $0.07 above the average estimate of $2.22. China’s trade surplus against the United States hit a new record in June. Many economists are concerned that this news could cause U.S. President Donald Trump to escalate his tariff battle with China. Earlier this week, President Trump threatened to hit another $200 billion in Chinese goods with a 10% tariff. Trump has demanded that China cut down on its surplus. One of the biggest issues formarijuanacompanies right now is setting up a bank account. Because cannabis is still illegal under federal law, banks are afraid of federal crackdowns. That means a marijuana dispensary can’t deposit cash or take out a loan to help grow its business. However, that could soon change… Today, we take you into what could be one of the biggest breaks in the legal marijuana business. Check it out here.
Three Stocks to Watch Today: C, BLK, TGT
Shares of Citigroup Inc. (NYSE: C) were on the move after the investment bank reported earnings before the bell. The bank reported a stunning 16% jump in quarterly profits for the second quarter. The firm cited the recent tax law, increased fees, and better banking business in Mexico. The firm reported earnings per share of $1.63. That figure easily beat average expectations of $1.56 per share. It’s worth noting that the bank’s income tax provision declined by $351 million thanks to tax reform. This will likely ignite Democratic Senators who are critical of Wall Street. Shares of BlackRock Inc. (NYSE: BLK) pushed higher Friday thanks to an upgrade from investment research firm Keefe, Bruyette and Woods Inc. The upgrade from “market perform” to “outperform” came after analysts sa
- [By Shane Hupp]
Freicoin (FRC) is a proof-of-work (PoW) coin that uses the
SHA-256 hashing algorithm. It launched on December 21st, 2012. Freicoin’s total supply is 100,000,000 coins and its circulating supply is 31,000,264 coins. Freicoin’s official Twitter account is @Freicoin and its Facebook page is accessible here. Freicoin’s official website is freico.in. Freicoin’s official message board is freicoinalliance.com.
- [By Max Byerly]
MUFG Americas Holdings Corp lessened its position in shares of First Republic Bank (NYSE:FRC) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,956 shares of the bank’s stock after selling 3,360 shares during the period. MUFG Americas Holdings Corp’s holdings in First Republic Bank were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission.