Our Fuel Specialties segment develops, manufactures, blends, markets and supplies
a range of specialty chemical products used as additives to a wide range of fuels.
These fuel additive products help improve fuel efficiency, boost engine performance
and reduce harmful emissions; and are used in the efficient operation of automotive,
marine and aviation engines, power station generators, and heating oil.
The segment has grown organically through our development of new products to address
what we believe are the key drivers in demand for fuel additives. In fuels, these
drivers include increased focus on fuel economy, changing engine technology and
legislative developments. We have also devoted substantial resources towards the
development of new and improved products that may be used to improve fuel efficiency.
Our customers in this segment include national oil companies, multinational oil
companies, oil and gas exploration and production companies and fuel retailers.
Performance Chemicals
Company acquired the Huntsman European Differentiated Surfactants business (“Huntsman”)
from Huntsman Investments (Netherlands) B.V.. We acquired the business in order
to continue our strategy of building our presence in the Personal Care and Home
Care markets which forms part of our Performance Chemicals segment.
Our Performance Chemicals segment provides effective technology-based solutions
for our customers’ processes or products focused in the Personal Care, Home
Care, Agrochemical and Mining markets.
This segment has also grown organically through the development and marketing
of innovative products to the personal care industry. The focus for our Performance
Chemicals segment is to develop high performance products from its technology
base in a number of targeted markets.
Our customers in this segment include large multinational companies, manufacturers
of personal care and household products and specialty chemical manufacturers operating
in agrochemical, mining and other industrial applications.
Oilfield Services
Our Oilfield Services segment develops and markets products to prevent loss of
mud in drilling operations, chemical solutions for fracturing and stimulation
operations and products for oil and gas production which aid flow assurance and
asset integrity.
This segment has been through a period of high growth driven by the rising levels
of drilling and production activity when oil prices maintained historically high
levels, followed by a scaling back of customer activity when oil prices declined
to significantly lower levels.
Our customers in this segment include multinational public and independent companies
operating principally in North America.
Octane Additives
Our Octane Additives segment, which we believe is the world’s only producer
of tetra ethyl lead (“TEL”), comprises sales of TEL for use in automotive
gasoline and provides services in respect of environmental remediation. We are
continuing to responsibly manage the decline in the demand for TEL for use in
automotive gasoline in line with the transition plans to unleaded gasoline for
our one remaining refinery customer. Cost improvement measures continue to be
taken to respond to declining market demand.
Sales of TEL for use in automotive gasoline are principally made to state-owned
refineries located in Northern Africa. Our environmental remediation business
manages the cleanup of redundant TEL plants as refineries complete the transition
to unleaded gasoline.
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