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TOTAL to Increase Polyethylene Production Capacity in US
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TOTAL S.A. , through its joint venture (JV) asset in the United States, has decided to double its Polyethylene production capacity. TOTAL and Novalis Holdings LLC’s, JV company Bayport Polymers, LLC will build a 625,000-ton-per-year polyethylene unit at Bayport, TX.
This new unit will more than double the polyethylene production capacity of this site and will touch 1.1 million tons per year and is expected to start commercial operation from 2021. This new project is in line with TOTAL’s strategy to develop petrochemicals at its major integrated complexes and leverage competitively priced feedstocks.
Despite concerns relating to environmental hazards of polyethylene use, its popularity is rising given its low costs and versatile usage in different areas.
Rise in Global Demand for Polyethylene
Per Zion Market Research, demand for polyethylene on a global scale will be witnessing a CAGR of above 4% between 2017 and 2024. Also, it expects global polyethylene market to touch $215 billion by 2024 from $163 billion in 2017.
Given the increasing usage and rising demand for polyethylene across the globe, it is a wise decision for TOTAL to make additions to its polyethylene production capacity. The new additions will allow the company and its JV partners to gain from the increasing demand.
Per a Pipeline and Gas Journal report, the usage of polyethylene will increase in North American and Asia Pacific countries. The rising residential construction and infrastructure spending in the developing world are primary contributors to the rising demand for polyethylene.
TOTAL’s decision to expand polyethylene production will help it to expand presence in the global polyethylene market, which already has key players like Exxon Mobil Corp (XOM - Free Report) and Chevron Corporation (CVX - Free Report) .
Zacks Rank and A Key Pick
TOTAL currently has a Zacks Rank #3 (Hold). A better-ranked stock in the same industry is Premier Oil PLC , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Earnings estimates of Premier Oil have moved up 38.1% to 29 cents in the past 60 days.
Shares of both Premier Oil and TOTAL have outperformed the broader industry’s growth in a year’s time.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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TOTAL to Increase Polyethylene Production Capacity in US
TOTAL S.A. , through its joint venture (JV) asset in the United States, has decided to double its Polyethylene production capacity. TOTAL and Novalis Holdings LLC’s, JV company Bayport Polymers, LLC will build a 625,000-ton-per-year polyethylene unit at Bayport, TX.
This new unit will more than double the polyethylene production capacity of this site and will touch 1.1 million tons per year and is expected to start commercial operation from 2021. This new project is in line with TOTAL’s strategy to develop petrochemicals at its major integrated complexes and leverage competitively priced feedstocks.
Despite concerns relating to environmental hazards of polyethylene use, its popularity is rising given its low costs and versatile usage in different areas.
Rise in Global Demand for Polyethylene
Per Zion Market Research, demand for polyethylene on a global scale will be witnessing a CAGR of above 4% between 2017 and 2024. Also, it expects global polyethylene market to touch $215 billion by 2024 from $163 billion in 2017.
Given the increasing usage and rising demand for polyethylene across the globe, it is a wise decision for TOTAL to make additions to its polyethylene production capacity. The new additions will allow the company and its JV partners to gain from the increasing demand.
Per a Pipeline and Gas Journal report, the usage of polyethylene will increase in North American and Asia Pacific countries. The rising residential construction and infrastructure spending in the developing world are primary contributors to the rising demand for polyethylene.
TOTAL’s decision to expand polyethylene production will help it to expand presence in the global polyethylene market, which already has key players like Exxon Mobil Corp (XOM - Free Report) and Chevron Corporation (CVX - Free Report) .
Zacks Rank and A Key Pick
TOTAL currently has a Zacks Rank #3 (Hold). A better-ranked stock in the same industry is Premier Oil PLC , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Earnings estimates of Premier Oil have moved up 38.1% to 29 cents in the past 60 days.
Shares of both Premier Oil and TOTAL have outperformed the broader industry’s growth in a year’s time.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>