We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BP & Accsys Technologies to Form Wood Acetylation Consortium
Read MoreHide Full Article
According to recent reports, BP plc (BP - Free Report) and Accsys Technologies – through its subsidiaries Tricoya Technologies Limited (“TTL”) and Medite – have announced the formation of a consortium, Tricoya Ventures UK Limited (“TVUK”). BP, through its petrochemicals and venturing businesses, will invest more than $25 million in TTL and TVUK over a two year period.
The announcement commemorates BP’s five decades of operations in Hull. This new company will construct and operate the world’s first Tricoya wood elements acetylation plant. It will primarily focus on delivering Tricoya acetylated wood into the European market. Located on the Saltend Chemicals Park, the new wood acetylation plant will manufacture acetylated Tricoya wood chips.
Acetic anhydride produced by BP Chemicals at Saltend will be used to treat these wood chips and thereafter produce high performance MDF or particle board panels. The latest venture is anticipated will open up 30 new job opportunities in the region in addition to the roles created through its construction and related supply chain.
Over the past 50 years, BP has made investments in its two acetic acid manufacturing plants and has supported a new generation of chemical processes. Presently, Hull hosts some of BP’s most innovative and cutting-edge operations. BP has two acetyls plants, which are the largest producers of acetic acid in Europe and also hosts one of the principal global research and technology centers for petrochemicals. In fact, the site is now one of seven world-class chemicals and energy businesses which functions from Saltend Chemicals Park.
BP’s price chart, however, shows weakness. Shares of the company lost 9.9% in the last three months, while the Zacks categorized Oil & Gas – International Integrated industry registered a decrease of 6% in the same time span.
Currently, BP carries a Zacks Rank #3 (Hold). Some better-ranked players in the same space include Energy Transfer Equity, L.P. , Crescent Point Energy Corp. (CPG - Free Report) and Cenovus Energy Inc. (CVE - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Energy Transfer Equity posted a negative earnings surprise of 16.00% in the preceding quarter. It had an average negative earnings surprise of 9.62% in the four trailing quarters.
Crescent Point Energy posted a positive earnings surprise of 244.44% in the preceding quarter. It beat estimates in all the four trailing quarters with an average positive earnings surprise of 127.16%.
Cenovus Energy posted a positive earnings surprise of 583.33% in the preceding quarter. It beat estimates in two of the four trailing quarters with an average positive earnings surprise of 74.89%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
BP & Accsys Technologies to Form Wood Acetylation Consortium
According to recent reports, BP plc (BP - Free Report) and Accsys Technologies – through its subsidiaries Tricoya Technologies Limited (“TTL”) and Medite – have announced the formation of a consortium, Tricoya Ventures UK Limited (“TVUK”). BP, through its petrochemicals and venturing businesses, will invest more than $25 million in TTL and TVUK over a two year period.
The announcement commemorates BP’s five decades of operations in Hull. This new company will construct and operate the world’s first Tricoya wood elements acetylation plant. It will primarily focus on delivering Tricoya acetylated wood into the European market. Located on the Saltend Chemicals Park, the new wood acetylation plant will manufacture acetylated Tricoya wood chips.
Acetic anhydride produced by BP Chemicals at Saltend will be used to treat these wood chips and thereafter produce high performance MDF or particle board panels. The latest venture is anticipated will open up 30 new job opportunities in the region in addition to the roles created through its construction and related supply chain.
Over the past 50 years, BP has made investments in its two acetic acid manufacturing plants and has supported a new generation of chemical processes. Presently, Hull hosts some of BP’s most innovative and cutting-edge operations. BP has two acetyls plants, which are the largest producers of acetic acid in Europe and also hosts one of the principal global research and technology centers for petrochemicals. In fact, the site is now one of seven world-class chemicals and energy businesses which functions from Saltend Chemicals Park.
BP’s price chart, however, shows weakness. Shares of the company lost 9.9% in the last three months, while the Zacks categorized Oil & Gas – International Integrated industry registered a decrease of 6% in the same time span.
Currently, BP carries a Zacks Rank #3 (Hold). Some better-ranked players in the same space include Energy Transfer Equity, L.P. , Crescent Point Energy Corp. (CPG - Free Report) and Cenovus Energy Inc. (CVE - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Energy Transfer Equity posted a negative earnings surprise of 16.00% in the preceding quarter. It had an average negative earnings surprise of 9.62% in the four trailing quarters.
Crescent Point Energy posted a positive earnings surprise of 244.44% in the preceding quarter. It beat estimates in all the four trailing quarters with an average positive earnings surprise of 127.16%.
Cenovus Energy posted a positive earnings surprise of 583.33% in the preceding quarter. It beat estimates in two of the four trailing quarters with an average positive earnings surprise of 74.89%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>