Nalco and Stepan Form Oil Recovery Technology JV

Nalco Holding and Stepan have formed a 50-50 joint venture to market their respective enhanced oil recovery (EOR) chemicals and technologies. The jv will operate under the name Tiorco, an EOR business that Nalco acquired earlier this year. Nalco and Stepan would not say the amount of revenue they expected the jv to generate. Nalco supplies polymers to the EOR market, and Stepan makes surfactants. Tiorco will also serve as a primary sales and service channel for Nalco’s Brightwater technology. The technology can increase crude oil production by 25%-80%...

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