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 Inks Deal with Virent and JM for Bioforming Technology
Read MoreHide Full Article
BP plc (BP - Free Report) has inked an agreement with Virent Inc. and Johnson Matthey (“JM”), which is related to progress of the commercialization of Virent’s Bioforming process for production of bio-paraxylene (PX).
Bio-paraxylene is a vital raw material used for the production of renewable polyester. Virent’s Bioforming technology, which is being developed in collaboration with JM, generates drop-in reformate product from renewable sources that can be used to yield renewable fuels and can also be processed into lower carbon intensive bio-PX, the feedstock for bio-purified terephthalic acid (PTA), using existing technologies.
Per the agreement, the parties will work together to commercialize the BioForming technology. BP will offer technical resources and will have exclusive rights to discussas it will be the sole manufacturer of bio-PX using Virent’s technology.
Renewable bio-PX will enable BP’s existing petrochemicals plants to produce a distinctive product in line with commitment toward a low carbon future. In the petrochemicals business PTAir product line, a low carbon PTA product has also been introduced.
BP believes in low carbon emission and is working toward making the environment cleaner. The company has partnered with various parties to make operations more environment friendly.
BP also tries to create value over the long-term by finding ways to grow inorganically. For example, BP’s transaction in the Norwegian North Sea to form AkerBP as well as the merger of BP and Bridas assets to create Argentina’s largest private integrated oil and gas company — Pan American Energy Group or PAEG — emphasize the company’s commitment to boost shareholders’ value.
Zacks Rank & Key Picks
BP carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector can opt for some better-ranked stocks as given below.
CrossAmerica Partners L.P. (CAPL - Free Report) is involved in the wholesale distribution of motor fuels, comprising gasoline and diesel fuel. The company delivered average positive earnings surprise of 436.7% in the last four quarters. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
San Antonio, TX-based NuStar Energy L.P. (NS - Free Report) is a midstream energy company. For 2019, the bottom line, which has witnessed three upside revision in the past 30 days, is expected to surge 64.2% year over year. The company currently holds a Zacks Rank #2 (Buy).
Madrid, Spain-based Repsol, S.A. (REPYY - Free Report) is an integrated energy company. The bottom line for 2019 is expected to increase 13.7% year over year. The company delivered average positive earnings surprise of 9% in the trailing four quarters. The stock currently has a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
Image: Bigstock
BP Inks Deal with Virent and JM for Bioforming Technology
BP plc (BP - Free Report) has inked an agreement with Virent Inc. and Johnson Matthey (“JM”), which is related to progress of the commercialization of Virent’s Bioforming process for production of bio-paraxylene (PX).
Bio-paraxylene is a vital raw material used for the production of renewable polyester. Virent’s Bioforming technology, which is being developed in collaboration with JM, generates drop-in reformate product from renewable sources that can be used to yield renewable fuels and can also be processed into lower carbon intensive bio-PX, the feedstock for bio-purified terephthalic acid (PTA), using existing technologies.
Per the agreement, the parties will work together to commercialize the BioForming technology. BP will offer technical resources and will have exclusive rights to discussas it will be the sole manufacturer of bio-PX using Virent’s technology.
Renewable bio-PX will enable BP’s existing petrochemicals plants to produce a distinctive product in line with commitment toward a low carbon future. In the petrochemicals business PTAir product line, a low carbon PTA product has also been introduced.
BP believes in low carbon emission and is working toward making the environment cleaner. The company has partnered with various parties to make operations more environment friendly.
BP also tries to create value over the long-term by finding ways to grow inorganically. For example, BP’s transaction in the Norwegian North Sea to form AkerBP as well as the merger of BP and Bridas assets to create Argentina’s largest private integrated oil and gas company — Pan American Energy Group or PAEG — emphasize the company’s commitment to boost shareholders’ value.
Zacks Rank & Key Picks
BP carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector can opt for some better-ranked stocks as given below.
CrossAmerica Partners L.P. (CAPL - Free Report) is involved in the wholesale distribution of motor fuels, comprising gasoline and diesel fuel. The company delivered average positive earnings surprise of 436.7% in the last four quarters. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
San Antonio, TX-based NuStar Energy L.P. (NS - Free Report) is a midstream energy company. For 2019, the bottom line, which has witnessed three upside revision in the past 30 days, is expected to surge 64.2% year over year. The company currently holds a Zacks Rank #2 (Buy).
Madrid, Spain-based Repsol, S.A. (REPYY - Free Report) is an integrated energy company. The bottom line for 2019 is expected to increase 13.7% year over year. The company delivered average positive earnings surprise of 9% in the trailing four quarters. The stock currently has a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>