Petroleum Pitch Companies
Petroleum pitch companies manufacture petroleum-based pitch, a dark, high-viscosity material used in various industrial applications, including the production of carbon anodes, electrodes, and roofing materials.
Petroleum pitch companies manufacture petroleum-based pitch, a dark, high-viscosity material used in various industrial applications, including the production of carbon anodes, electrodes, and roofing materials.
Petroleum Pitch Market
October 2023-Â A blockbuster oil and gas deal announced Wednesday takes the crown as the largest corporate M&A merger in 2023, and one of the sector's largest US deals in years. Integrated oil and gas major ExxonMobilacquired Pioneer Natural Resources, an upstream shale specialist, for USD59.5 billion. The deal would grant Exxon even more power in the Permian Basin, making it the largest producer in the country's biggest shale patch. It could also unleash further M&A between companies with assets in the Permian. Major mergers tend to beget divestitures down the line, as acquirers sift through their new purchase and offload noncore assets to buyers that include PE-sponsored platforms. With private equity exits down 53% in value compared to pre-pandemic averages, according to PitchBook's Q3 2023 US PE Breakdown, the Pioneer-Exxon deal could lead to a welcome revival of exit activity in the oil patch. Its announcement comes as US crude prices reached year-highs in the low USD90s per barrel in September. Two recent examples of PE backers exiting investments in the Permian Basin include EnCap Investments' USD1.5 billion sale of Novo Oil & Gas to Earthstone Energy and Northern Oil and Gas and Carnelian Energy Capital's USD537.5 million sale of Percussion Petroleum II to Callon Petroleum.
June 2023-Â Sri Lanka, in a bid to deal with the forex issue and guarantee a stable supply of fuel, announced an agreement with an American oil company, enabling it to be the fourth participant in the island nation's fuel retail business, which used to be a state monopoly.
Key Companies in the petroleum pitch market include
Petroleum Pitch Market Highlights:
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