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 chromium oxide are still very uncertain.
What is Chromium Oxide?
Chromium oxide is an inorganic substance. Chromium oxide chemical formula is Cr2O3. It is a light green to dark green fine hexagonal crystal. It turns brown when it is hot and green when it is cold.
Cr2O3 exists in chromium-rich tremolite skarn, post-quartz and chlorite veins in the form of natural mineral eskolaite. Eskolaite is also a rare component of chondrite.
Chromium Oxide Properties
Cr2O3 has a corundum structure and is composed of hexagonal arrays of oxide anions, in which 2 / 3 of the octahedral holes are occupied by chromium. Similar to corundum, Cr2O3 is a hard and brittle material (Morse hardness 8-8.5).
Chromium oxide dissolves in hot alkali metal bromate solution. Soluble in heated potassium bromate solution, slightly soluble in acids and bases, almost insoluble in water, ethanol, acetone, acids and bases. And irritating. It is extremely stable to light, atmosphere, high temperature and corrosive gases such as sulfur dioxide and hydrogen sulfide. It has a high hiding power.
What is Chromium Oxide Used for?
1. Lead-chrome green is the main coloring pigment in the paint industry, and most of the green paints are prepared with this pigment. In addition, it is also used in paints and plastics. Its application range is very similar to that of lead chrome yellow. Because there is chrome yellow in the composition, pay attention to the toxicity of lead in its application. Lead chrome green contains iron blue and oxidizer lead chromate, so when dust encounters spark, it is possible to self-ignite, so be careful when drying and crushing. After burning, the lead-chrome green completely loses the characteristics of the green pigment and is transformed into a dark brown-yellow substance. In addition, in the production of nitro paint, the rolling process is not directly rolled with lead-chrome green, but adjusted after grinding with lead-chromium green to prevent burning during rolling.
2. It is used in metallurgy, as well as ceramics, chromium oxide refractory, raw materials for pigment industry and organic synthesis catalyst.
3. Used as analytical reagent, catalyst.
4. Used as a colorability, wear resistance and corrosion resistant filler for adhesives and sealants. It can also be used as a colorant for enamel, ceramic, artificial leather and building materials, organic chemical synthesis catalyst, sun-resistant paint and special ink for printing paper money.
5. Used as a colorant for cosmetics, mainly used in eye cosmetics, but not in oral and lip cosmetics, not recommended for facial cosmetics and nail polish.
6. Chromium oxide is one of the main components of silver plating brightening solution, and the newly prepared chromium trioxide is an important raw material for the preparation of chromium fluoride and chromium bromide.
Chromium Oxide 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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Chromium Oxide Supplier
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In a recent interview with Izvestia, Russian Federation Council Chairman Matviyenko said that Russia is open to dialogue with the West based on mutual respect, but the opportunity to resume dialogue will only come after the end of special military operations.
Matviyenko also noted that Europe currently lacks politicians who can make independent decisions. She said the EU's strategy to wean itself off Russian energy by 2027 would be costly, with Russia supplying 40 percent of Europe's gas, 27 percent of its oil, and 46 percent of its coal, and was essentially "anti-European" and a "tax" on US global dominance.
On Sweden's and Finland's plans to join NATO, Matviyenko said Russia will take corresponding measures if NATO weapons and equipment appear in the two countries, and Russia is capable of guaranteeing its own security.
Besides, speaking by video at an international conference, Ukraine's minister of agricultural policy and Food, said the country's grain chromium oxide are expected to continue to be influenced by international situations.
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