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Connected Workers: How Digital Transformation is Shaping Industry’s Future

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2020 hasn’t been kind to the energy sector, and a growing wave of energy bankruptcies has started to build.

After a difficult year marred by rising geopolitical tensions in the Middle East and crude prices in the $50-60 per barrel range, analysts warned that the energy sector needed a strong recovery to offset a rising (and expiring) mountain of debt.

Instead, the oil patch has seen one bombshell after another, and the impacts are adding up.

Fueling the Wave’s Growth

The new year opened with a U.S. attack on a top-ranking Iranian general in Baghdad, followed by an Iranian counterattack on two bases in Iraq that hosted U.S. military personnel.

Then, the energy industry worried that the Organization of the Petroleum Exporting Countries (OPEC) wouldn’t renew its production deal with non-member countries, causing increased production and negative pressure on crude prices.

All the while, the threat of COVID-19 grew and started to spread. In March, the new coronavirus hit markets hardest, right as the OPEC+ deal collapsed. Russia and Saudi Arabia subsequently flooded the markets with cheap oil, starting a price war to drive out competition.

What developed was the perfect storm of nonexistent demand matched up against oversupply. Crude prices plummeted and hit a historic sub-zero low on April 20th, with futures for West Texas Intermediate (WTI) Crude closing at -$37.63.

The Wave’s Initial Damage

Now, following a renewed OPEC+ deal limiting production agreed upon on April 9th and slowly restarting economies driving up crude demand, prices have started to tick up.

Unfortunately, the damage has already been done and will take a long time to recover. By charting the sector’s bankruptcies over the first half of 2020—tracked by law firm Haynes and Boone, LLP for the U.S. and Insolvency Insider for Canada—we can see the wave start to swell:

Company Type Q1 Bankruptcies Q2 Bankruptcies Total (H1 2020)
Oil & Gas Producer 7 18 25
Oilfield Services 7 12 19
Midstream Services 2 1 3
Total 16 31 47

For oil and gas producers, the second quarter of 2020 saw 18 bankruptcies, the highest quarterly total since 2016.

So far, they’re largely centered in the U.S., which saw a boom of surface-level shale oil production in the 2010’s to take advantage of rising crude prices. As prices have dropped, many heavily leveraged companies have started to run out of options.

Company Type Q1 Total Debt Q2 Total Debt Total (H1 2020)
Oil & Gas Producer $1.4 billion $29.2 billion $30.7 billion
Oilfield Services $10.8 billion $13.2 billion $24 billion
Midstream Services $0.2 billion $0.2 billion $0.5 billion
Total $12.5 billion $42.7 billion $55.1 billion

The biggest victim in the first half of 2020 was Chesapeake Energy, a shale giant that declared bankruptcy on June 28 with more than $9 billion in debt.

Canada has also seen an uptick in energy bankruptcies, especially after facing years of stiff competition from U.S. shale producers. However, the number of cases in Canada is far fewer than in the United States.

One reason is that companies staved off bankruptcy or receivership in four of the seven insolvency cases in Canada since January 2020, at least temporarily. Instead, they are seeking protection under the country’s Companies’ Creditors Arrangement Act, giving them a chance to restructure and avoid insolvency.

A Prolonged Fallout

Another reason for the discrepancy in bankruptcy numbers is timing. The energy sector faced its biggest challenges in 2015/2016, causing many companies to take on debt.

Unfortunately, much of that debt is starting to expire, or becoming too difficult to pay off in the current market conditions.

That’s why, despite the wave of bankruptcies caused by COVID-19 gaining steam, the wave will continue well into 2020 and likely beyond.

July has already seen more companies declaring bankruptcy or seeking creditor protection. The question is, how many more are waiting to surface?

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Source: https://www.visualcapitalist.com/connected-workers-digital-transformation-future/

Energy

Grand Opening of the 25th China (Guzhen) International Lighting Fair

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At 10 a.m., the 25th GILF was officially opened in the presence of attending leaders, guests, industry colleagues and media friends. Leaders of the China Association of Lighting Industry (CALI), Zhongshan Municipal People’s Government and Guzhen Town People’s Government addressed the opening ceremony.

Subsequent activities included reading the Notice on Continuing to Grant Guzhen Town, Zhongshan City, Guangdong Province the Title of “China’s Lighting Capital” and the Awarding Decisions on the 2020 (Guzhen) China International Lighting Design Awards and convening the Awarding Ceremony of the 2020 (Guzhen) China International Lighting Design Awards and the Signing Ceremony of Zhongshan Intelligent Pole Industry Association.

Driving Industrial Upgrading with Intelligent Manufacturing and Original Design

The GILF set up different exhibition areas for smart home lighting, interior decorative lighting, residential lighting, commercial lighting, outdoor lighting, commercial lighting, special-purpose lighting, mechanical equipment and lighting accessories. Hundreds of LED products of were exhibited at the fair, among which the intelligent lighting applying 5G technology, intelligent pole and healthy lighting products were the main exhibits of many manufacturers.

1+7 Venues Enjoying High Popularity by Gathering Famous Enterprises

The main venue welcomed 845 enterprises, including Songpu Lighting, Yuefeng Lighting, Zhenhui Fire Technology, Sence Lighting, Mingjian Lighting, Chuanglite Lighting, Puye Lighting, Dark Energy Power, Zhongyi Lighting, etc.

Sub-venues held events respectively along with thousands of lighting brands. Lihe Lighting Expo Center held the Global Lighting Art Shopping Festival with 517 exhibitors. Huayi Plaza held the Global Lighting Shopping Festival with 300 exhibitors. Star Alliance convened the 2020 Autumn New Product Conference for Star Alliance Brands with 400 large enterprises. Lighting Era welcomed 110 exhibitors Besun Plaza welcomed 39 exhibitors. Huayu Plaza, a Chinese light mall, held the 2020 Autumn Chinese Lighting Cultural Festival jointly with 28 Chinese light exhibitors. Streetlight City welcomed 85 well-known exhibitors.

Accurate Connection Between Global Buyers and Exhibitors Both Online and Offline

The GILF launched the Hosted Buyer Program Go Online to present an exhibition trio: factory show, on-site booth, and EZBUY based on B2B website-Denggle.com, allowing overseas buyers who are unable to visit the exhibition to communicate with suppliers regardless of time and space constraints.

Industry Think Tanks Offering Useful Insights at Wonderful Forums

Forums included the Intelligent Light Pole Industry Development Forum, the Seminar on the Quality and Safety of Lamps for Primary and Secondary School Students in Guangdong Province and Quality Promotion Campaign of Guangdong Lighting Electric Equipment Hospitals, the Intelligent Agricultural Lighting Innovation Forum and the 7th LED Pioneering Conference are held during the exhibition. Series of online lectures on the lighting industry are live-streamed on Cali-light.com concurrently.

Keeping a foothold on the source of the lighting industry, GILF has provided high quality products for buyers from all over the world. In this peak season of October, the GILF, with its 1+7 venues covering an area of 1,500,000 sqm, will create a brilliant future with the lighting industry in China.

Website: www.denggle.com

Facebook: @guzhenlightingfair

SOURCE Guzhen Lighting Expo Co., Ltd

Related Links

http://www.denggle.com

Source: https://www.prnewswire.com:443/news-releases/grand-opening-of-the-25th-china-guzhen-international-lighting-fair-301159121.html

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Energy

World’s Sole Owner of PERKLONE and TRIKLONE Now Supplying Saudi Arabia Oil & Petroleum Refineries; PERKLONE EXT; Catalyst grade, UOP Approved

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Product name:

Perklone™ EXT ( Catalyst grade / refineries applications / Isomerization grade)

Perklone™ EXT ( Tetrachloroethylene /Perchloroethylene)

Perklone™ EXT (our branded product ( ICI Perklone EXT ; UOP approved product )

Banner Chemicals UK now offers to the Saudi Oil Refineries the UK unique product:

Perchloroethylene PCE (branded PERKLONE™ EXT)

Dr. Maggie Kessler, Export Director of Banner Chemicals says:

“We are delighted to supply PERKLONE EXT to Saudi Arabia. We have already seen great interest and satisfaction from our Saudi customers. We have supplied PERKLONE EXT to most refineries to worldwide, including to some of the world’s largest oil refineries. With our dedicated and committed team, the international recognition for PERKLONE EXT is growing worldwide and we look forward to sharing our success with Saudi customers.”

ABOUT PERKLONE & TRIKLONE , MEC Prime , BRANDS

Banner Chemicals exclusively supply all grades of METHYLENE CHLORIDE PRIME, PERKLONE and TRIKLONE brands, Including MEC Prime PHARMA , TRIKLONE U , TRIKLONE LE, PERKLONE MD, PERKLONE D  and PERKLONE EXT

PERKLONE, TRIKLONE, MEC Prime are registered trademarks supplied GLOBALLY and EXCLUSIVELY by Banner Chemicals UK 

  • All products are manufactured under ISO9001 from premium quality feedstocks and of 99.99% pure

About Banner Chemicals UK

Banner Chemicals is a 2M Holdings subsidiary, exporting to 90 countries and won the UK Queen’s Award  for enterprise.

Dr. Maggie Kessler, Export Director of Banner Chemicals says:

“The additional of Triklone U (High- Purity Trichloroethylene) to our Aerospace military ASTM range of solvents gives Banner Chemicals strong position in the chlorinated industry. This includes, Triklone U for: Caprolactam industry, Vulcanising and Adhesives industry (for rubber, tyres & and conveyor-belts).”

Release Summary / keywords:

Trichloroethylene, TCE, TRICK, Trikchlor, TRIKLONE

Perchloroethylene, PCE, PERC, Perchlor, PERKLONE

PERKLONE MD

TRIKLONE LE

ATMS Metal Degreasing

Vapour Degreasers

PERKLONE & TRIKLONE Aerospace approved degreasers

PERKLONE & TRIKLONE Metal degreasing‎ / Metal cleaning grades

PERKLONE EXT Catalyst grade, Isomerization grade

PERKLONE D  Dry-cleaning

TRIKLONE U for: Caprolactam industry,

TRIKLONE U for: Vulcanising and Adhesives industry

TRIKLONE U for: for rubber, tyres & and conveyor-belts

Contact: Dr. Maggie Kessler, telephone: +44-1928-597-000, email address: [email protected]

SOURCE Banner Chemicals UK

Source: https://www.prnewswire.com:443/news-releases/worlds-sole-owner-of-perklone-and-triklone-now-supplying-saudi-arabia-oil–petroleum-refineries-perklone-ext-catalyst-grade-uop-approved-301158971.html

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Energy

EV Charge Holding Limited sichert sich 15 Millionen Euro von GEM

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ZHENGZHOU, China, 24. Oktober 2020 /PRNewswire/ — EV Charge Holding Ltd. (EV Charge), ein Unternehmen für elektrische Ladelösungen, das nach britischem Recht gegründet wurde und dessen eingetragener Sitz sich in 20-22 Wenlock Road, London, England, N1 7GU, befindet, gab bekannt, dass es mit GEM Global Yield LLC SCS („GEM”), der privaten alternativen Investmentgruppe mit Sitz in Luxemburg, eine Vereinbarung unterzeichnet hat, um EV Charge nach einer öffentlichen Notierung von EV Charge-Stammaktien an einer akkreditierten internationalen Börse über eine Laufzeit von drei Jahren bis zu 15 Mio. EUR bereitzustellen. EV Charge wird die Mittel für die Entwicklung der Infrastruktur zum Laden von Elektrofahrzeugen verwenden.

Die anfänglichen 15 Mio. EUR werden in Form einer Kapitalzusage bereitgestellt, die es EV Charge ermöglicht, während der dreijährigen Laufzeit Mittel durch die Ausgabe von Aktien für das Stammkapital von EV Charge an GEM (oder andere Personen oder Einrichtungen, die von GEM geleitet werden) und vorbehaltlich der bestehenden Vereinbarungen über die Gewährung von Darlehen auf Aktienbasis abzurufen.

EV Charge kontrolliert den Zeitpunkt und den Höchstbetrag jeder Inanspruchnahme dieser Fazilität und hat keine Mindestabnahmeverpflichtung. Gleichzeitig mit einer öffentlichen Notierung von EV Charge-Aktien wird das Unternehmen Optionsscheine an GEM ausgeben, um bis zu zehn Prozent (10 %) der ausstehenden Stammaktien des Unternehmens auf einer vollständig verwässerten Basis zu erwerben. Die Optionsscheine werden einen Ausübungspreis pro Aktie haben, der dem Schlusskurs der Aktien am ersten Handelstag nach der öffentlichen Notierung seiner Aktien entspricht.

Über EV Charge

EV Charge widmet sich der Entwicklung der Infrastruktur zum Laden von Elektrofahrzeugen. Elektrische Ladestationen werden dazu beitragen, Kosten zu senken und die Umweltverschmutzung zu reduzieren.

Informationen zu GEM Group

Global Emerging Markets ist eine Gruppe für alternative Investitionen mit Sitz in Paris, New York und Los Angeles. GEM verwaltet eine Vielzahl von Anlagevehikeln mit Schwerpunkt auf aufstrebenden Märkten, die der Gruppe und ihren Anlegern ein diversifiziertes Portfolio von Anlageklassen bieten, welche das globale private Anlagespektrum abdecken. Jedes Anlagevehikel hat ein unterschiedliches Maß an operativer Kontrolle und risikobereinigter Rendite sowie auch ein unterschiedliches Liquiditätsprofil. Mit den Fonds und Investitionsvehikeln bieten GEM und seine Partner Anlegern die Möglichkeit eines Engagements bei: Small-Mid Cap Management-Buyouts, privaten Investitionen in öffentliche Aktien (PIPEs) und ausgewählten Risikoinvestitionen.

SOURCE EV Charge

Source: https://www.prnewswire.com:443/news-releases/ev-charge-holding-limited-sichert-sich-15-millionen-euro-von-gem-878546654.html

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