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RPT-In full flow: pipeline additive sales boom amid oil bottlenecks [Reuters]

INNOSPEC (IOSP)  More Company Research Source: Reuters
Last innospec earnings: 8/7 04:45 pm Check Earnings Report
US:NASDAQ Investor Relations: innospecinc.com/investor-relations
PDF RPT-In full flow: pipeline additive sales boom amid oil bottlenecks | Reuters Reuters Staff 5 Min Read (Repeats to widen subscription) By Julie Gordon and Rod Nickel HOUSTON/CALGARY, Alberta, May 24 (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, 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 t [Read more]

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