Petroleum Coke

Petroleum Coke Market Outlook

The global petroleum coke market is anticipated to reach a market size of approximately USD 29 billion by 2035, growing at a compound annual growth rate (CAGR) of 5% from 2025 to 2035. The demand for petroleum coke is often driven by its versatility and cost-effectiveness as a carbon source in various industrial applications. As industries such as aluminum, steel, and cement grow, the demand for petroleum coke remains robust, with a notable shift towards calcined petroleum coke for applications requiring high-quality carbon products. Furthermore, the increasing use of petroleum coke as a fuel source in power plants due to its high calorific value has also contributed significantly to market expansion. Emerging economies in Asia-Pacific and Latin America are expected to drive growth further as they ramp up industrial activities and infrastructure development.

Growth Factor of the Market

The growth of the petroleum coke market can be attributed to several interrelated factors, primarily grounded in the escalating requirement for petroleum derivatives across various sectors. As nations industrialize and urbanize at a rapid pace, the demand for energy-intensive materials increases, consequently propelling the consumption of petroleum coke in several industries. Furthermore, the transition towards greener technologies has catalyzed innovations in the processing of petroleum coke, leading to the development of higher-grade products that cater to specialized applications. Countries are also progressively investing in refinery upgrades, boosting the availability of petroleum coke and enhancing its competitiveness as an industrial feedstock. Additionally, the strategic positioning of petroleum coke as a favorable substitute for traditional fuels in power generation has also led to a noticeable uptick in market demand. With the global push towards sustainability, the refining of petroleum coke into more environmentally friendly products is expected to create new avenues for growth.

Key Highlights of the Market

• The global petroleum coke market is projected to reach USD 29 billion by 2035.
• Growing industrialization in emerging economies is driving the demand for petroleum coke.
• Calcined petroleum coke is gaining traction due to its use in high-performance applications.
• Petroleum coke is increasingly being utilized as a cost-effective fuel source in various industries.
• Market players are focusing on enhancing refining processes to produce higher-grade petroleum coke.

By Type

Calcined Petroleum Coke:

Calcined petroleum coke (CPC) is a high-purity carbon material produced by heating petroleum coke in the absence of air. This process removes volatile compounds, resulting in a product that is highly sought after in the aluminum and steel industries due to its superior electrical conductivity. The aluminum sector primarily uses CPC in the production of anodes for the electrolytic reduction process. As a result, the demand for calcined petroleum coke is expected to witness significant growth, particularly in regions where aluminum production is expanding. The high stability and low impurity levels of CPC make it essential for applications where performance under high temperatures is crucial. Consequently, as global aluminum production increases, so will the demand for calcined petroleum coke, making it a vital segment of the petroleum coke market.

Fuel Grade Petroleum Coke:

Fuel grade petroleum coke (FGPC) is primarily used as a source of fuel in various industrial applications, including power generation. This type of coke is characterized by its lower purity compared to calcined petroleum coke but remains a cost-efficient energy source. The growing need for energy generation, especially in developing countries, is driving the expansion of this segment. Utilities often prefer FGPC because it is less expensive than coal and offers comparable energy content. As industries increasingly seek to reduce operational costs, the use of fuel-grade petroleum coke is likely to rise, particularly in power plants and cement kilns. Furthermore, the shift towards cleaner energy sources and the growing focus on sustainability will necessitate innovations in the combustion processes of FGPC, enhancing its market appeal even further.

Calcined Pitch Coke:

Calcined pitch coke is a specialized form of petroleum coke produced from the thermal treatment of coal tar pitch. It possesses unique properties, such as high density and low thermal expansion, which make it suitable for specific applications in the production of anodes for aluminum smelting. The growth in the aluminum industry directly influences the demand for calcined pitch coke, as it is used in manufacturing high-performance anodes required for electrolytic processes. Additionally, the increasing production of graphite electrodes for electric arc furnaces further drives the need for calcined pitch coke, as it serves as a critical raw material in their manufacturing. Given the projected growth in these sectors, calcined pitch coke is anticipated to witness substantial growth in the coming years.

Needle Coke:

Needle coke is a high-purity petroleum coke with a needle-like structure, making it particularly useful in the manufacture of graphite electrodes for the steel industry. The unique properties of needle coke, such as low thermal expansion and high electrical conductivity, make it an essential material for electric arc furnaces. As the demand for steel continues to rise globally, particularly in developing countries, the need for high-quality needle coke is expected to increase significantly. The steel industry is witnessing a shift towards electric arc furnaces, which requires superior-quality raw materials, thereby creating a favorable market for needle coke. As industries strive for greater efficiency and reduced emissions, the demand for needle coke as a critical feedstock for high-performance graphite electrodes will likely continue to grow.

Sponge Coke:

Sponge coke is a lower-density type of petroleum coke that is formed during the delayed coking process. It is characterized by its high porosity and lower sulfur content, making it suitable for various applications, including carbon additives and in the production of anodes. The increasing focus on minimizing sulfur emissions in industrial processes has driven the demand for sponge coke, as it serves as a preferred choice for manufacturers seeking to comply with stringent environmental regulations. As industries continue to evolve towards more sustainable practices, sponge coke is likely to gain traction due to its favorable properties and versatility in diverse applications.

By Application

Aluminum Industry:

The aluminum industry is one of the primary consumers of petroleum coke, particularly calcined petroleum coke, which is used to produce anodes for the electrolysis process. As global demand for aluminum rises, driven by construction, automotive, and packaging sectors, the consumption of petroleum coke is expected to increase correspondingly. The growth of lightweight materials in various industries, coupled with the push for aluminum products, ensures a steady demand for anodes produced using calcined petroleum coke. The aluminum industry's expansion in emerging markets further reinforces the critical link between aluminum production and petroleum coke consumption, solidifying its position as a key application segment.

Steel Industry:

In the steel industry, petroleum coke, particularly needle coke, plays a vital role in the manufacturing of graphite electrodes used in electric arc furnaces. The increasing demand for steel, particularly in infrastructure and construction projects, drives the need for high-quality electrodes, thus impacting the petroleum coke market significantly. The shift towards electric arc furnaces, which provide a more sustainable and efficient method of steel production, further propels the demand for needle coke. As the steel industry continues to innovate and seek superior-quality materials, the consumption of petroleum coke is expected to grow, thereby strengthening its importance in this segment.

Cement Industry:

The cement industry relies on petroleum coke as a cost-effective fuel source for kilns, where high temperatures are required for the pyroprocessing of raw materials. With the ongoing construction booms globally, especially in developing nations, the demand for cement continues to rise, consequently increasing the usage of petroleum coke in cement production. The cement industry's focus on reducing carbon emissions has also led to a shift towards alternative fuels, including petroleum coke, owing to its high calorific value and lower cost compared to coal. As infrastructures develop and urbanization progresses, the cement industry's demand for petroleum coke is projected to remain robust.

Power Plants:

Power plants are increasingly using petroleum coke as a fuel source due to its high energy content and cost-effectiveness compared to traditional fossil fuels. The rise in electricity demand, particularly in regions with growing populations, drives the need for effective power generation solutions. Petroleum coke's favorable combustion properties make it an attractive alternative for utilities seeking to diversify their fuel mix while managing costs. Additionally, the focus on renewable energy and the transition to cleaner fuels has led power plants to explore petroleum coke as a viable option under certain operational conditions. As energy needs continue to increase, so will the role of petroleum coke in power generation.

Graphite Electrode:

Graphite electrodes, which are crucial for electric arc furnaces in steel production, heavily rely on petroleum coke, especially needle coke. The demand for graphite electrodes is directly linked to the growth of the steel industry, and as steel production increases, so does the consumption of petroleum coke. Graphite electrodes made from high-quality needle coke ensure improved efficiency and reduced energy consumption in steel production processes. As electric arc furnace technology becomes more prevalent, the petroleum coke market will continue to witness substantial growth driven by the demand for high-performance electrodes.

By Form

Sponge Coke:

Sponge coke, characterized by its porous structure and lower density, is utilized as a feedstock in various applications, including carbon additive production and as a fuel source. Its unique physical properties make it an advantageous choice for manufacturers looking to reduce emission levels while enhancing carbon content in metallurgical processes. The increasing emphasis on sustainability and environmental compliance is expected to boost the demand for sponge coke, particularly in industries that prioritize eco-friendly practices. As industries adapt to changing regulatory landscapes, the role of sponge coke as a key input material is likely to expand, thereby driving its market growth.

Purge Coke:

Purge coke is a byproduct generated during the coking process in refineries. While it may not be as widely recognized as other types of petroleum coke, it presents potential opportunities for specific applications, including its use as a carbon source in various industrial processes. The relatively lower cost of purge coke compared to higher-grade products may render it an attractive option for applications where purity is less critical. The exploration of purge coke's potential in emerging markets, where cost-efficiency is paramount, could lead to increased demand in niche segments.

Shot Coke:

Shot coke is a form of petroleum coke that has a granular structure, resulting from rapid cooling during the coking process. Although it is less commonly used than other types of petroleum coke, shot coke can find applications in specialized areas, such as in the production of certain carbon products. Its distinct characteristics and size can make it suitable for applications requiring specific physical properties, although market demand remains relatively stable compared to other types. The growth of specialized applications may occasionally lead to fluctuations in demand for shot coke.

Needle Coke:

Needle coke, recognized for its unique structure and high purity, is primarily used in the manufacturing of graphite electrodes essential for electric arc furnaces in steel production. The growing demand for high-quality steel and the transition towards electric arc furnace technology significantly enhance the market for needle coke. Needle coke's properties contribute to the efficiency and performance of graphite electrodes, making it indispensable in modern steelmaking. As industries increasingly prioritize efficiency and sustainability, the demand for needle coke is expected to rise, solidifying its role in the overall petroleum coke market.

By Use

Fuel:

Petroleum coke serves as a significant fuel source in various industries, particularly in power generation and cement production. Its high calorific value and cost-effectiveness compared to traditional fuels make it an attractive option for manufacturers looking to optimize energy costs. As industries seek to diversify their fuel sources and reduce reliance on coal, petroleum coke's role as a fuel is expected to expand, particularly in regions where energy demand is rising. The transition towards more sustainable energy practices is also likely to influence the development of processes that utilize petroleum coke efficiently, enhancing its appeal as a fuel source.

Anodes:

The use of calcined petroleum coke in producing anodes is critical, especially in the aluminum industry. Anodes made from high-grade calcined petroleum coke are essential for the electrolytic process involved in aluminum smelting. The demand for aluminum products continues to grow across various sectors, thus driving the need for anodes. As aluminum production ramps up globally, the consumption of petroleum coke for anode production will likely witness significant increases, reinforcing its importance in the market.

Carbon Additive:

Petroleum coke is widely employed as a carbon additive in the metallurgy sector, contributing to the carbon content in steel and iron production. Its high carbon content and cost-effectiveness make it a preferred choice for steel manufacturers looking to enhance their product quality while managing costs. The carbon additive segment is expected to grow steadily, driven by the increasing demand for steel and iron products used in construction and infrastructure. As metallurgical processes continue to evolve, the need for quality carbon sources like petroleum coke will remain integral to the production of metals.

Titanium Dioxide Production:

In the production of titanium dioxide, petroleum coke is utilized as a reducing agent in the chloride process. As industries increasingly focus on the production of eco-friendly pigments and coatings, the importance of petroleum coke in titanium dioxide manufacturing will likely rise. The demand for titanium dioxide across various applications, including paints, plastics, and cosmetics, will drive the consumption of petroleum coke as manufacturers aim to meet rising environmental and quality standards. The growth of the titanium dioxide market will thus propel the petroleum coke market, emphasizing its role in diversified applications.

By Region

Regionally, the petroleum coke market demonstrates varied growth patterns influenced by industrial activity and regulatory environments. North America, particularly the United States, is one of the largest consumers due to its extensive refining capacity and strong manufacturing base. The region is expected to maintain a substantial share of the petroleum coke market, with a growth rate of approximately 4% CAGR over the forecast period. The ongoing development of refineries and the presence of major players in the petrochemical industry contribute to North America's dominance in this market.

In contrast, the Asia-Pacific region is projected to witness the highest growth rate for petroleum coke consumption, estimated at around 6% CAGR during the same period. This surge can be attributed to rapid industrialization, urbanization, and increased energy demand across countries like China and India. Both nations are investing heavily in infrastructure and energy projects that will significantly drive petroleum coke consumption in industries such as aluminum, steel, and cement. While the region’s market share will continue to grow, it is essential for stakeholders to monitor environmental regulations, as these may impact production and consumption patterns.

Opportunities

The petroleum coke market is poised for considerable opportunities, primarily stemming from the ongoing shifts in industrial practices and technological advancements. With a global push towards sustainability, many industries are exploring ways to reduce their carbon footprints, creating an avenue for petroleum coke to be utilized in more environmentally friendly applications. As industries increasingly focus on refining processes to produce higher-grade petroleum coke, opportunities arise for innovations that allow for improved efficiencies and reduced emissions. The demand for calcined petroleum coke in the aluminum sector, driven by the rising global requirements for lightweight materials, also presents a significant growth opportunity. Additionally, as infrastructure development continues to surge in developing economies, the demand for cement, steel, and energy will foster further opportunities for petroleum coke consumption within these markets, making it a crucial player in the evolving industrial landscape.

Furthermore, the potential of utilizing petroleum coke in alternative applications, such as in the production of carbon materials for battery technologies, is an exciting prospect for the market. As the demand for electric vehicles and renewable energy storage solutions rises, finding innovative uses for petroleum coke in these sectors could open new markets. The exploration of advanced refining techniques and the development of cleaner combustion technologies also present significant opportunities for existing petroleum coke producers to enhance their product offerings. Engaging in sustainable practices and exploring partnerships to expand the applications of petroleum coke will be pivotal for stakeholders looking to capitalize on these emerging trends in the market.

Threats

Despite the positive outlook for the petroleum coke market, several threats could impede growth. One major concern is the tightening environmental regulations aimed at reducing emissions from fossil fuels. As governments globally increasingly enforce stricter guidelines regarding air quality and greenhouse gas emissions, industries that rely on petroleum coke may face challenges in adapting to these changes. Companies may need to invest significantly in cleaner technologies or alternative raw materials to comply with these regulations, which could lead to increased operational costs or reduced competitiveness. Additionally, the volatility of crude oil prices can affect the supply chain and production costs associated with petroleum coke, impacting its availability and price stability in the market.

Moreover, the growing interest in alternative and renewable energy sources may pose a long-term threat to the petroleum coke market. As industries and governments focus on transitioning towards greener energy solutions, the demand for petroleum coke could potentially decline, particularly in power generation applications. The development of advanced battery technologies and renewable energy systems may lead to reduced reliance on traditional fossil fuels, including petroleum coke. As market dynamics shift and technological advancements evolve, stakeholders must stay vigilant in adapting to these changes to maintain their market position.

Competitor Outlook

• Petroleum Coke Industries
• Alba (Aluminium Bahrain B.S.C.)
• Oxbow Carbon LLC
• Green Carbon LLC
• Rang Dong Group
• Phillips 66 Company
• Marathon Petroleum Corporation
• CITGO Petroleum Corporation
• Valero Energy Corporation
• GrafTech International Ltd.
• Carbochimica S.p.A.
• Shandong Yulong Petrochemical Co., Ltd.
• Rain Carbon Inc.
• Indian Oil Corporation Ltd.
• American Energy Partners, LLC

The competitive landscape of the petroleum coke market is characterized by a mix of global and regional players, each striving to enhance their product offerings and market share. Key players in the industry are engaged in strategic partnerships, technological innovations, and capacity expansions to remain competitive. Notably, companies such as Phillips 66 and Valero Energy are among the largest producers of petroleum coke, leveraging their extensive refining capabilities to meet the growing demand across various applications. Their strong foothold in the North American market enables them to cater to the requirements of the aluminum and steel industries efficiently.

Moreover, companies like GrafTech International Ltd. and Oxbow Carbon LLC focus on producing high-quality calcined petroleum coke and needle coke, establishing themselves as significant players in the premium segments of the market. With the increasing need for high-performance materials in industries such as aluminum and graphite electrode manufacturing, these companies are well-positioned to capitalize on the rising demand for specialty cokes. The growing emphasis on sustainability and cleaner production methods is prompting these players to invest in research and development efforts aimed at enhancing refining processes and product quality.

Additionally, regional players from Asia-Pacific and Latin America, such as Shandong Yulong Petrochemical Co., Ltd. and Rang Dong Group, are emerging as competitive contenders in the market. These companies are leveraging their local resources and expertise to cater to the growing domestic demand for petroleum coke in sectors like cement and power generation. As the global market continues to evolve, the competitive dynamics are expected to shift, with new entrants and innovative technologies influencing market trends and player strategies.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Rang Dong Group
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Green Carbon LLC
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Oxbow Carbon LLC
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Rain Carbon Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Carbochimica S.p.A.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Phillips 66 Company
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Petroleum Coke Industries
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Valero Energy Corporation
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 CITGO Petroleum Corporation
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 GrafTech International Ltd.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Indian Oil Corporation Ltd.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 American Energy Partners, LLC
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Marathon Petroleum Corporation
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Alba (Aluminium Bahrain B.S.C.)
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Shandong Yulong Petrochemical Co., Ltd.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Petroleum Coke Market, By Use
    • 6.1.1 Fuel
    • 6.1.2 Anodes
    • 6.1.3 Carbon Additive
    • 6.1.4 Titanium Dioxide Production
    • 6.1.5 Others
  • 6.2 Petroleum Coke Market, By Form
    • 6.2.1 Sponge Coke
    • 6.2.2 Purge Coke
    • 6.2.3 Shot Coke
    • 6.2.4 Needle Coke
  • 6.3 Petroleum Coke Market, By Type
    • 6.3.1 Calcined Petroleum Coke
    • 6.3.2 Fuel Grade Petroleum Coke
    • 6.3.3 Calcined Pitch Coke
    • 6.3.4 Needle Coke
    • 6.3.5 Sponge Coke
  • 6.4 Petroleum Coke Market, By Application
    • 6.4.1 Aluminum Industry
    • 6.4.2 Steel Industry
    • 6.4.3 Cement Industry
    • 6.4.4 Power Plants
    • 6.4.5 Graphite Electrode
    • 6.4.6 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Petroleum Coke Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Petroleum Coke market is categorized based on

By Type

• Calcined Petroleum Coke
• Fuel Grade Petroleum Coke
• Calcined Pitch Coke
• Needle Coke
• Sponge Coke

By Application

• Aluminum Industry
• Steel Industry
• Cement Industry
• Power Plants
• Graphite Electrode
• Others

By Form

• Sponge Coke
• Purge Coke
• Shot Coke
• Needle Coke

By Use

• Fuel
• Anodes
• Carbon Additive
• Titanium Dioxide Production
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Petroleum Coke Industries
• Alba (Aluminium Bahrain B.S.C.)
• Oxbow Carbon LLC
• Green Carbon LLC
• Rang Dong Group
• Phillips 66 Company
• Marathon Petroleum Corporation
• CITGO Petroleum Corporation
• Valero Energy Corporation
• GrafTech International Ltd.
• Carbochimica S.p.A.
• Shandong Yulong Petrochemical Co., Ltd.
• Rain Carbon Inc.
• Indian Oil Corporation Ltd.
• American Energy Partners, LLC