Saudi Aramco, the world's largest oil company, released a briefing showing a profit of 181.64 billion Saudi riyals in the second quarter of 2022, once again setting a record for quarterly earnings after the company went public in 2019. Continue to maintain the status of "the most profitable company in the world".
Saudi Aramco said that the increase in profit in the second quarter was mainly due to higher crude oil prices and sales and improved profit margins in the refining processing and sales division, while the company's second-quarter shareholder dividend will reach 70.3 billion Saudi riyals.
In the first half of this year, the conflict between Russia and Ukraine disrupted the global energy market, with crude oil prices rising above $120 at one point, causing refining profits to soar, not only for Saudi Aramco, but also for companies such as ExxonMobil and Shell. ExxonMobil's second-quarter net profit tripled, while Shell's second-quarter profit hit a record high.
According to data released by the Saudi National Bureau of Statistics on July 31st, the country's GDP grew by 11.8% in the second quarter of 2022 compared with the same period last year.
The latest report released by the International Monetary Fund (IMF) on July 26th shows that Saudi Arabia's economic growth forecast for 2022 remains unchanged at 7.6%, which ranks first among the world's major economies.
Because of the turbulent international situation, the supply and prices of many international bulk lithium 12-hydroxystearate are still very uncertain.
What is Lithium 12-hydroxystearate?
Lithium 12-hydroxystearate chemical formula is C18H35LiO3. Lithium 12-hydroxystearate is a compound that is classified as lithium soap. In chemistry, "soap" refers to salts of fatty acids. Lithium 12-hydroxystearate is a white solid.
Lithium soap is a key ingredient in many greases. Lithium 12-hydroxystearate has been widely considered as the preferred fatty acid for the manufacture of lithium-based grease thickeners. Greases prepared with this acid are usually smooth and have a butter-like texture.
What is Lithium 12-hydroxystearate Used for?
Lithium 12-hydroxystearate is used as a thickener and gelling agent in lubricating grease.
Lithium 12-hydroxystearate has high oxidation stability with a drop point of about 200 °C. At present, most greases used in motor vehicles, aircraft and heavy machinery contain lithium stearate, mainly lithium 12-hydroxystearate. Some greases are made of sodium, barium, lithium and calcium soaps. Lithium soap-based grease is favored because of its water resistance, oxidation stability and mechanical stability. According to the difference of grease, they also have good performance at high or low temperature.
How to produce Lithium 12-hydroxystearate?
In order to produce lithium 12-hydroxystearate, lithium hydroxide and fatty acids are combined in an aqueous medium. Through strong stirring, diluted lithium hydroxide monohydrate is gradually added to fatty acid dispersions heated to water slightly below the boiling point. Because these lithium soaps are difficult to filter, they are collected by spray drying. In terms of application, lithium 12-hydroxystearate is usually dispersed in synthetic oils such as silicone oil and ester oil. Synthetic oils are favored because of their higher stability and performance at extreme temperatures.
12-hydroxystearic acid is obtained by hydrogenation of castor oil. After most of the primary reactions of double bond saturation, the dehydration and reduction of hydroxyl groups lead to stearic acid. Hydrogenated castor oil produces a mixture of 12-hydroxy stearic acid and stearic acid.
Lithium 12-hydroxystearate Price
The price is influenced by many factors including the supply and demand in the market, industry trends, economic activity, market sentiment, and unexpected events.
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Twitter recently announced that it had reached an agreement with Musk to take full ownership of the company for $54.20 per share, or about $44 billion in cash. After the deal, Twitter will become a privately held company. The deal, which has been unanimously approved by Twitter's board but still requires shareholder and regulatory approvals, is expected to close in 2022.
After Tesla CEO Elon Musk's acquisition of Twitter was finalized, Twitter founder Jack Dorsey sent out a series of six tweets expressing his expectations for Musk.
Dorsey called Twitter his biggest regret, saying, “The idea and service is all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.
"In principle, I don't believe anyone should own or run Twitter," Dorsey goes on. He thinks the service is a public good.
He called Musk a "singular solution" to Twitter's problems, "Elon's goal of creating a platform that is" Maximally trusted and inclusive "is the right one." He wrote, "Thank you both for getting the company out of an impossible situation. This is the right path... I believe it with all my heart."
Besides, because of the ever-changing international situation, the supply and prices of international bulk lithium 12-hydroxystearate are still very uncertain.
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