TPC Group | March 17, 2022
TPC Group announced that it got an extension to the Forbearance agreement until April 18 by Ad Hoc Group. Initially, the agreement was effective till March 18. The extended period of the agreement will allow economic stakeholders, representing 90% and 80% of its two series of senior secured notes, respectively, to aim towards strengthening its capital structure. In addition, in the extended period, the stakeholders will also discuss the company’s positioning to be more competitive in the future.
TPC Group told it would continue to operate similarly throughout these discussions by maintaining its strong focus on EHSS performance, becoming more reliable, and providing safe operations to customers and vendors with the highest quality products and services.
TPC Group has been in business for more than 75-years and is a leader in North America across all product lines. Interestingly, it is known as the largest independent C4 crude processor. Apart from this, TPC Group is recognized as a global leader in producing value-added products and raw materials such as C4 hydrocarbons and providing acute infrastructure and logistics services to petrochemical operators along the Gulf Coast.
TPC Group is advised by Baker Botts L.L.P., Moelis & Company LLC, and FTI Consulting, Inc. The Ad Hoc Group is recommended by Evercore and Stroock & Stroock & Lavan LLP.
U.S. Chemical | December 07, 2020
The U.S. Substance Production Regional Index (U.S. CPRI) rose 0.9 percent in October following a 0.8 percent pick up in September and a 1.0 percent expansion in August, as indicated by the American Chemistry Council (ACC). During October, substance yield extended in all districts, with the biggest additions happening in the Northeast area. The U.S. CPRI is estimated on a three-month moving normal (3MMA) premise.
In October, substance creation kept on improving in numerous sections including, chlor-salt, other inorganic synthetic compounds, natural synthetic compounds, modern gases, plastic saps, manufactured colors and shades, customer items, cements, other forte synthetic compounds and composts. Creation patterns facilitated in coatings, fabricated filaments, engineered elastic and yield assurance synthetic compounds.
As practically totally fabricated merchandise are created utilizing science in some structure, producing movement is a significant marker for compound interest. The assembling recuperation proceeded for a fourth sequential month in October, with generally speaking production line movement up by 0.8 percent (3MMA). The pattern underway rose in virtually all key science end-use ventures, with the most grounded gains found in iron and steel, aviation, foundries, tires, hardware and attire.
Contrasted and October 2019, U.S. substance creation was off 4.9 percent on a year-over-year (Y/Y) premise, the seventeenth continuous month of decreases, yet shows consistent improvement in the course of recent months. Compound creation remained lower than a year back in all locales, with the biggest year-prior decreases happening in the Northeast, Mid-Atlantic, and West Coast areas.
The science business is probably the biggest business in the United States, a $565 billion endeavor. The assembling area is the biggest purchaser of substance items, and 96 percent of fabricated products are moved by science. The U.S. CPRI was created to follow substance creation movement in seven areas of the United States. The U.S. CPRI depends on data from the Federal Reserve, and thusly, incorporates month to month corrections as distributed by the Federal Reserve. To smooth month-to-month changes, the U.S. CPRI is estimated utilizing a three-month moving normal. Hence, the perusing in October reflects creation action during August, September, and October.
Sciencedaily | August 31, 2020
Ethylene is the most important chemical precursor for ethanol and polyethylene and is mainly produced by steam cracking. Although the ethylene fraction is usually very pure (more than 99%), remaining traces of acetylene contaminants can destroy the catalysts used in downstream processes. As ethylene and acetylene are very similar and only differ in the amount of hydrogen atoms -- ethylene has four hydrogen atoms bound to two carbon atoms, acetylene has two -- the separation of both gases is elaborate and difficult. The current industrial processes rely on distillation, which consumes a huge amount of energy.