Daily Chemical News Recommendation (Apr 27, 2018)

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> Clariant Starts 2018 with Significant Growth in Sales, EBITDA

Clariant announced first quarter 2018 sales of CHF 1.722 billion compared to CHF 1.602 billion in the first quarter of 2017. This corresponds to seven percent growth in local currency as well as in Swiss francs. All Business Areas contributed to this sales growth, with particular strength in Catalysis and Care Chemicals. Organic sales rose by 5 percent in local currency driven by higher volumes and supported by a positive pricing effect.

“In the first three months of 2018, Clariant delivered very good 7 percent growth, both in sales and profitability,” CEO Hariolf Kottmann said. “All our Business Areas contributed to this progress which was mainly driven by volumes. The turnaround of the Catalysis business has been confirmed and also the Oil & Mining Services business is showing signs of improvement, while Care Chemicals continued its excellent development and Plastics & Coatings is performing in line with expectations. For 2018, we are on track to achieve our targets.” 


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> Chevron Evacuates Venezuela Executives Following Staff Arrests

U.S. oil major Chevron has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state-owned oil company PDVSA, according to four sources familiar with the matter.

Chevron asked other employees to avoid the facilities of its joint venture with the OPEC nation's oil firm, the sources said.

The arrests, in a raid by national intelligence officers, were the first at a foreign oil firm since Venezuela's government launched a purge last fall that has resulted in detentions of more than 80 executives at PDVSA and business partners.

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