Saudi Arabia's chemical giant, SABIC, has announced that their polycarbonate manufacturing site in Cartagena, Spain will operate on 100% renewable energy. Solvay's site mentioned earlier this week will only run on 40% renewable energy.

What this means for consumers:

SABIC will now be able to offer their customers polycarbonate solutions produced with 100% renewable power. That polycarbonate that lines hockey rinks, makes bulletproof windows, and covers LCD screens can now be purchased as a "green" product. As you might imagine, some customers may be willing to pay more for that fact.

So how are they doing it?

The world's largest electric utility, Spanish Iberdrola, will be installing 263,000 solar panels on SABIC's land. The plant should begin operations in 2024, just in time for SABIC to reach their 2025 clean energy goals.

Read more about SABIC's plant here on North American Clean Energy.

US-based oil major, Exxon, announced their second-quarter earnings this morning revealing a net loss of $1.08 billion compared to a net profit of $3.13 billion this quarter last year.

Okay, what about their dividend?

Exxon paid out $3.7 billion in dividends ($0.87/share) this quarter with virtually all of that money being borrowed.

How much have they borrowed?

Exxon's CEO, Darren Woods, says “we do not plan to take on any additional debt.” By the end of this quarter, Exxon's total debt has risen to $69.5 billion. That is up $9.9 billion from last quarter, and up $24.3 billion from this time last year.

How do they compare with their rivals?

Chevron announced an $8.3 billion loss for the quarter (yes, they still paid dividends). But both Shell and Total posted profits for the quarter, $638 million and $126 million respectively. How did they do it? Just like it was mentioned earlier this week, their strong trading divisions saved them just like it saved Equinor.

Read more about Exxon here on 24WallSt.

The second-largest US refiner (Marathon gets first place), Valero, announced that they will be operating its 15 refineries at up to 79% of their total capacity through Q3. While demand is still reduced due to the pandemic, the company anticipates the demand to return to pre-pandemic normal sometime next year.

How did their Q2 earnings look?

The company recorded a net loss of $504 million for the quarter as their refining margins fell 58%. They produced 647,000 barrels per day (bpd) fewer than they did in the second quarter of last year.

What about their dividend?

Just because Valero took a loss this quarter doesn't mean they won't pay out a dividend. CEO of Valero, Joe Gorder, said they will stay true to their strategies and continue, "honoring our commitment to stockholder returns". So part of that $504 million loss for the quarter was $400 million that was paid back to investors in the form of a dividend ($0.98/share).

Read more here on StreetInsider.