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SABIC acquires majority stake in carbon nanotube business for energy storage applications

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Saudi Arabia-based SABIC, a global leader in diversified chemicals, has taken a majority stake in Black Diamond Structures (BDS), a nanotechnology company established in 2014. In particular, BDS provides benefits to battery manufacturers looking for breakthrough improvements in charge rates, battery cycle life and energy density.

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Opinion: Who Will Be Left Standing At The End Of The Oil War?

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OPEC governments downsize their budgets, cut social spending and put big projects on hold to lower the breakeven price. Saudi Arabia and Kuwait enjoy some of the lowest production costs in the world, at about $10 and $8.50, respectively, according to Rystad Energy data. So the breakeven is elusive.