Management at global petrochemical giant Dow Inc. on Thursday touted domestic natural gas and natural gas liquids (NGL) production growth for its competitive edge in its oil to gas brands in 2023.

Through lower planned maintenance spending and structural improvements to raw materials, logistics and utility costs, “we’ve improved our cost profile,” CFO Jeffrey Tate said during Dow’s fourth quarter 2023 earnings call. The company delivered $1 billion in targeted savings for the entire year.

“Healthy oil to gas brands supported by growing natural gas and NGL production in the U.S. favor our cost advantage and ability to capture margin momentum,” Tate said.

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