Cyber Resilience in the Oil and Gas Industry: Playbook for Boards and Corporate Officers

May 17, 2021 | 42 views

To help the energy industry improve its resilience against cyber risk, the World Economic Forum has convened over 40 senior executives to establish a blueprint for evaluating cyber risk across the oil and gas industry. This White Paper is the result of their in-depth discussions to illuminate the industry’s best practices and create new solutions for corporate leaders to address cyber risk. It presents six principles to help boards at oil and gas companies govern this risk and strengthen their organization’s cyber resilience. Adopting them will support the industry in its efforts to continue delivering safe, affordable and low-carbon energy for decades to come.

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Klüber Lubrication

Klüber Lubrication offers expert tribological solutions by supplying tailor-made speciality lubricants directly to customers in almost all branches of industry and regional markets. Our customers include producers of components, modules, machines and systems as well as companies using this equipment for their own production or processing activities.

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CHEMICAL TECHNOLOGY

Transporting biological and chemical materials - what you need to know

Article | June 21, 2021

The landscape of biological and chemical logistics has changed rapidly - as have the regulatory frameworks around it. What has not necessarily kept pace is the end-user understanding of the nature of these logistical processes, their opportunities and their constraints. Twenty years ago, the transmission of biological and chemical materials was limited to a small range of organisations: usually national and international research companies, hospitals, major university departments, police and military departments with forensic responsibilities.

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CHEMICAL TECHNOLOGY

Setting record straight on testing harm in chemicals

Article | August 8, 2022

The modern world is built on chemicals, be it the medicines we use, or cleaning fluids, crop protection products, or the raw materials for everything from laptops and mobile phones to clothes and furniture. Across all, we have created an entire modern society with chemicals, and, as a result, constantly stretched the size of the world population we can feed, clothe and shelter. Yet, balancing all the gains from the modern chemistry around us against any negative environmental and human impact has been a rising concern, making for ever greater focus on testing and on risk assessment.

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CHEMICAL TECHNOLOGY

Why chemical characterization is the best way to assess patient risk

Article | May 13, 2021

Everyone is very familiar with the phrase when buying a house: All that really matters are three things - location, location, and location. This same principle applies to extractables and leachables chemistry analysis – the three things that truly matter are identification, identification, and identification. The greatest growth in the past ten years in demonstrating the safety of medical devices and container closure systems for drugs has been using analytical chemistry to determine what chemicals can leach from the device and what the patient is exposed to during its intended use.

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How Chemical Companies Benefit from the Experience Economy

Article | February 10, 2020

To feel or experience from a business engagement started with customer experience mainly in the consumer products business. Today it has extended to even knowledge industries like the chemical industry where experiencing or feeling can be leveraged to include all stake holders from customers primarily to employees to supply chain people & suppliers and all else. With digital technologies this has become easier than before. The benefits from promoting the ‘feel’ or ‘experience’ emotion could be multifarious for the chemical industry as described in this article.

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Spotlight

Klüber Lubrication

Klüber Lubrication offers expert tribological solutions by supplying tailor-made speciality lubricants directly to customers in almost all branches of industry and regional markets. Our customers include producers of components, modules, machines and systems as well as companies using this equipment for their own production or processing activities.

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CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT

Matador Resources Company to Acquire Advance Energy Partners Holdings, LLC

Matador Resources | January 25, 2023

On January 24, 2023, Matador Resources Company announced that a fully-owned subsidiary of Matador had signed a definitive agreement for the acquisition of Advance Energy Partners Holdings, LLC, which includes oil and natural gas producing properties and undeveloped land in New Mexico, Lea County, and Ward County, Texas. The consideration for the Advance Transaction will include an initial cash payment of $1.6 billion, depending on customary closing adjustments, as well as additional cash consideration of $7.5 million for every month in 2023, during which the average oil price exceeds $85 per barrel, as stated in the securities purchase agreement. Advance is an EnCap Investments L.P. portfolio company. The Advance Transaction has an effective date of January 1, 2023, and is anticipated to close in the Q2 of 2023, based on customary closing conditions. On January 24, 2023, at 10:00 am Central Time, Matador's management held a live conference call to review the Advance Transaction. Matador estimates the entire proved oil and natural gas reserves linked with these properties to be approximately 106,4 million BOE (73 percent oil) as of December 31, 2022. PV-102 of the proved natural gas and oil reserves of these properties as of December 31, 2022, was roughly $2.86 billion based on the same unweighted arithmetic average first-day-of-the-month prices for the prior year that was used to value the Company's reserves as of December 31, 2022, valued at $6.36 per MMBtu of natural gas and $90.15 per barrel of oil. Matador anticipates that the continued development of these properties will increase future proven reserves and reserves value. Sewell & Associates, Inc., independent reservoir engineers from the Netherlands, conducted an audit of the reserve estimates prepared by Matador's engineering staff. AboutMatador Resources Company Matador Resources Company is a publicly traded, independent energy company headquartered in Dallas that focuses on shale plays and other unconventional plays in its development, production, exploration, and acquisition of natural gas and oil resources in the U.S. The company has a dedicated team of technical and administrative professionals, as well as a culture of high performance and fiscal discipline. It was founded as a privately held company in July 2003, attracting equity capital from several hundred investors, many of whom were shareholders in Matador Petroleum Corporation, its predecessor.

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CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH

Albemarle Set to Launch Technology Park in North Carolina

Albemarle | January 09, 2023

Albemarle Corporation, a pioneer in the leading global chemicals industry, announced that it had acquired a site in Charlotte, North Carolina, U.S., to build the Albemarle Technology Park. The company will invest at least 180 million dollars in constructing a world-class facility to boost novel materials research and advanced process development and accelerate the introduction of next-generation lithium products to the market. According to Kent Masters, the CEO of Albemarle, "Albemarle Technology Park is part of our mine-to-market innovation strategy to invest in the U.S. EV battery supply chain and to be a leader in advanced lithium materials for next-generation energy storage. This facility will focus and accelerate our lithium technology leadership, better enabling the world's transition to more sustainable energy." (Source: prnewswire.com). The company believes that breakthroughs from the new facility will improve lithium recovery, optimize production methods, and discover new forms of lithium that will enable battery performance improvements. The State of North Carolina awarded nearly $13 million as an incentive package to Albemarle for developing an advanced product innovation, process development, and lithium materials research facility in Mecklenburg County. As a part of the Job Development Investment Grant (JDIG), this incentive package will support a portion of Albemarle's investment to redevelop the former IBM and Flextronics facility. The company anticipates creating over 200 jobs on-site, with an average annual salary of $94,000. Specifically, the team aims to triple the Ph.D. holding professionals in Albemarle Technology Park. The vision for Albemarle Technology Park (ATP) covers novel lithium materials, manufacturing processes, and the commercialization of new products in close collaboration with strategic customers. The company expects ATP to become a lithium innovation hub that establishes technology leadership in the fast-expanding EV industry in the Southeast U.S. through co-locating essential operations and collaborations. The organization predicts that the improved process technologies developed at the ATP will promote sustainability by decreasing energy and water consumption, unlocking new lithium resources, and enabling lithium recovery at end-of-life through economic recycling. Albemarle anticipates initial occupancy of ATP by early 2025 and a complete ATP campus by late 2026. About Albemarle Corporation Albemarle is a frontrunner in lithium, bromine, and catalysts. The company aims to think beyond the norm to unlock the potential of companies in critical industries such as transportation, energy, and electronics. With highly talented and knowledgeable international teams, deeply rooted values, and a collaborative customer relationship approach, Albemarle is developing performance-based solutions that enable a safer and more sustainable future.

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PRODUCTS AND TECHNOLOGIES, RAW MATERIALS

Chemours Launches New Ti-Pure™ Sustainability Grade for Plastics Producers

The Chemours Company | January 27, 2023

The Chemours Company, a chemistry company with market-leading positions in Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials, announced the introduction of Ti-PureTM TS-1510, a highly efficient rutile titanium dioxide (TiO2) pigment designed to improve processing performance in various plastics applications, including polyolefin masterbatch. The increased processing performance of this grade offers up to a 6%* reduction in the net carbon footprint of the advanced pigment manufacturing process through masterbatch production, compared to conventional TiO2 pigments, while simultaneously increasing profits. Ti-PureTM TS-1510 is the most recent pigment launch under the company's Ti-PureTM Sustainability (TS) line, a new product family highlighting Chemours' dedication to furthering societal, consumer, and business segment sustainability goals. Ti-PureTM TS-1510 was created to overcome customer difficulties and enhance their production rate and processing capabilities. Chemours developed a revolutionary technology to create this pigment with increased material bulk density in order to address these difficulties while simultaneously increasing profits and masterbatch processability. The higher level of processing efficiency provided by Ti-PureTM TS-1510 will enable Chemours' direct and downstream customers to decrease their individual environmental footprints and enhance the plastics industry's sustainability. Ti-PureTM TS-1510 offers energy and labor efficiencies for masterbatch producers, resulting in a smaller carbon footprint than conventional TiO2 pigment. In addition, Chemours delivers Ti-PureTM TS-1510 in recyclable or reusable packaging to further increase the product's sustainability. Cherie Stancik, Product Development Manager, Plastics Segment – Titanium Technologies at Chemours, said, “At Chemours, our customers’ needs drive our approach to innovation. The introduction of Ti-Pure™ TS-1510 reflects our commitment to developing new products that advance the state of the industries we serve.” (Source – Business Wire) About The Chemours Company Located in Wilmington, Delaware, The Chemours Company is a world leader in Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials, offering its customers solutions for a diverse range of industries through market-defining products, application experience, and chemistry-based innovations. The company provides tailored solutions with a broad selection of industrial and specialty chemicals for applications such as plastics, coatings, refrigeration and air conditioning, semiconductor, transportation, consumer electronics, general industrial, and others. Its main products are marketed under well-known brand names, including NafionTM, OpteonTM, FreonTM, Ti-PureTM, TeflonTM, VitonTM, and KrytoxTM. The company has over 6,400 employees and 29 manufacturing locations, which serve approximately 3,200 clients in approximately 120 countries.

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CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT

Matador Resources Company to Acquire Advance Energy Partners Holdings, LLC

Matador Resources | January 25, 2023

On January 24, 2023, Matador Resources Company announced that a fully-owned subsidiary of Matador had signed a definitive agreement for the acquisition of Advance Energy Partners Holdings, LLC, which includes oil and natural gas producing properties and undeveloped land in New Mexico, Lea County, and Ward County, Texas. The consideration for the Advance Transaction will include an initial cash payment of $1.6 billion, depending on customary closing adjustments, as well as additional cash consideration of $7.5 million for every month in 2023, during which the average oil price exceeds $85 per barrel, as stated in the securities purchase agreement. Advance is an EnCap Investments L.P. portfolio company. The Advance Transaction has an effective date of January 1, 2023, and is anticipated to close in the Q2 of 2023, based on customary closing conditions. On January 24, 2023, at 10:00 am Central Time, Matador's management held a live conference call to review the Advance Transaction. Matador estimates the entire proved oil and natural gas reserves linked with these properties to be approximately 106,4 million BOE (73 percent oil) as of December 31, 2022. PV-102 of the proved natural gas and oil reserves of these properties as of December 31, 2022, was roughly $2.86 billion based on the same unweighted arithmetic average first-day-of-the-month prices for the prior year that was used to value the Company's reserves as of December 31, 2022, valued at $6.36 per MMBtu of natural gas and $90.15 per barrel of oil. Matador anticipates that the continued development of these properties will increase future proven reserves and reserves value. Sewell & Associates, Inc., independent reservoir engineers from the Netherlands, conducted an audit of the reserve estimates prepared by Matador's engineering staff. AboutMatador Resources Company Matador Resources Company is a publicly traded, independent energy company headquartered in Dallas that focuses on shale plays and other unconventional plays in its development, production, exploration, and acquisition of natural gas and oil resources in the U.S. The company has a dedicated team of technical and administrative professionals, as well as a culture of high performance and fiscal discipline. It was founded as a privately held company in July 2003, attracting equity capital from several hundred investors, many of whom were shareholders in Matador Petroleum Corporation, its predecessor.

Read More

CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH

Albemarle Set to Launch Technology Park in North Carolina

Albemarle | January 09, 2023

Albemarle Corporation, a pioneer in the leading global chemicals industry, announced that it had acquired a site in Charlotte, North Carolina, U.S., to build the Albemarle Technology Park. The company will invest at least 180 million dollars in constructing a world-class facility to boost novel materials research and advanced process development and accelerate the introduction of next-generation lithium products to the market. According to Kent Masters, the CEO of Albemarle, "Albemarle Technology Park is part of our mine-to-market innovation strategy to invest in the U.S. EV battery supply chain and to be a leader in advanced lithium materials for next-generation energy storage. This facility will focus and accelerate our lithium technology leadership, better enabling the world's transition to more sustainable energy." (Source: prnewswire.com). The company believes that breakthroughs from the new facility will improve lithium recovery, optimize production methods, and discover new forms of lithium that will enable battery performance improvements. The State of North Carolina awarded nearly $13 million as an incentive package to Albemarle for developing an advanced product innovation, process development, and lithium materials research facility in Mecklenburg County. As a part of the Job Development Investment Grant (JDIG), this incentive package will support a portion of Albemarle's investment to redevelop the former IBM and Flextronics facility. The company anticipates creating over 200 jobs on-site, with an average annual salary of $94,000. Specifically, the team aims to triple the Ph.D. holding professionals in Albemarle Technology Park. The vision for Albemarle Technology Park (ATP) covers novel lithium materials, manufacturing processes, and the commercialization of new products in close collaboration with strategic customers. The company expects ATP to become a lithium innovation hub that establishes technology leadership in the fast-expanding EV industry in the Southeast U.S. through co-locating essential operations and collaborations. The organization predicts that the improved process technologies developed at the ATP will promote sustainability by decreasing energy and water consumption, unlocking new lithium resources, and enabling lithium recovery at end-of-life through economic recycling. Albemarle anticipates initial occupancy of ATP by early 2025 and a complete ATP campus by late 2026. About Albemarle Corporation Albemarle is a frontrunner in lithium, bromine, and catalysts. The company aims to think beyond the norm to unlock the potential of companies in critical industries such as transportation, energy, and electronics. With highly talented and knowledgeable international teams, deeply rooted values, and a collaborative customer relationship approach, Albemarle is developing performance-based solutions that enable a safer and more sustainable future.

Read More

PRODUCTS AND TECHNOLOGIES, RAW MATERIALS

Chemours Launches New Ti-Pure™ Sustainability Grade for Plastics Producers

The Chemours Company | January 27, 2023

The Chemours Company, a chemistry company with market-leading positions in Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials, announced the introduction of Ti-PureTM TS-1510, a highly efficient rutile titanium dioxide (TiO2) pigment designed to improve processing performance in various plastics applications, including polyolefin masterbatch. The increased processing performance of this grade offers up to a 6%* reduction in the net carbon footprint of the advanced pigment manufacturing process through masterbatch production, compared to conventional TiO2 pigments, while simultaneously increasing profits. Ti-PureTM TS-1510 is the most recent pigment launch under the company's Ti-PureTM Sustainability (TS) line, a new product family highlighting Chemours' dedication to furthering societal, consumer, and business segment sustainability goals. Ti-PureTM TS-1510 was created to overcome customer difficulties and enhance their production rate and processing capabilities. Chemours developed a revolutionary technology to create this pigment with increased material bulk density in order to address these difficulties while simultaneously increasing profits and masterbatch processability. The higher level of processing efficiency provided by Ti-PureTM TS-1510 will enable Chemours' direct and downstream customers to decrease their individual environmental footprints and enhance the plastics industry's sustainability. Ti-PureTM TS-1510 offers energy and labor efficiencies for masterbatch producers, resulting in a smaller carbon footprint than conventional TiO2 pigment. In addition, Chemours delivers Ti-PureTM TS-1510 in recyclable or reusable packaging to further increase the product's sustainability. Cherie Stancik, Product Development Manager, Plastics Segment – Titanium Technologies at Chemours, said, “At Chemours, our customers’ needs drive our approach to innovation. The introduction of Ti-Pure™ TS-1510 reflects our commitment to developing new products that advance the state of the industries we serve.” (Source – Business Wire) About The Chemours Company Located in Wilmington, Delaware, The Chemours Company is a world leader in Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials, offering its customers solutions for a diverse range of industries through market-defining products, application experience, and chemistry-based innovations. The company provides tailored solutions with a broad selection of industrial and specialty chemicals for applications such as plastics, coatings, refrigeration and air conditioning, semiconductor, transportation, consumer electronics, general industrial, and others. Its main products are marketed under well-known brand names, including NafionTM, OpteonTM, FreonTM, Ti-PureTM, TeflonTM, VitonTM, and KrytoxTM. The company has over 6,400 employees and 29 manufacturing locations, which serve approximately 3,200 clients in approximately 120 countries.

Read More

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