In full flow: pipeline additive sales boom amid oil bottlenecks [Reuters]
Innospec Inc. (IOSP)
Last innospec inc. earnings: 8/6 04:45 pm
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Source: Reuters
In full flow: pipeline additive sales boom amid oil bottlenecks | Reuters 5 Min Read HOUSTON/CALGARY, Alberta (Reuters) - Pipeline bottlenecks have vexed North American oil producers this year, but for companies making a little-known additive called drag-reducing agent (DRA), they have provided a veritable windfall. DRA is injected into pipelines to reduce the contact between the oil and the wall of the pipe, allowing more crude to flow through. It is a tiny but booming business, accounting for about $500 million in global sales - half of that in the United States - but is growing about 8 percent annually, said Brian Watt, senior vice president at specialty chemicals producer Innospec Inc ( IOSP.O ), based in Englewood, Colorado. Pipeline companies are increasing DRA usage because of bottlenecks in the key North American producing regions of Texas’s Permian Basin and Western Canada. Those crude grades have traded at greater-than-usual discounts to benchmark U.S. futures CLc1 this ye
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News
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IOSP
Earnings
- 2/13/24 - Beat
IOSP
Sec Filings
- 4/3/24 - Form 8-K
- 3/28/24 - Form ARS
- 3/28/24 - Form DEFA14A
- IOSP's page on the SEC website