The risk factors set forth below update, and should be read together with, the risk factors described in our Annual Report in Form 10-K for the year ended December 31, 2022.
+Added: Risks Related to Our Business
+Added: Our business, financial condition and results of operations have been and could in the future be adversely affected by disruptions in the carbon black oil and natural gas supplies, including disruptions caused by the ongoing conflicts between Russia and Ukraine and Israel and Hamas.
+Added: The impacts of war and other geopolitical events, including but not limited to Russia’s invasion of Ukraine and Hamas’ attack on Israel and the resulting war, are difficult to predict.
+Added: For example, the conflict in Ukraine has previously caused, and may continue to cause, volatility in crude oil and natural gas prices.
+Added: The responses of countries and political bodies to Russia’s actions in Ukraine, the larger overarching tensions, and Ukraine’s military defenses and the potential for wider conflict may generally increase energy market volatility, have severe adverse effects on regional and global economic markets and cause volatility in energy and other product prices.
+Added: The sanctions, shipping disruptions, collateral war damage, and the potential continuation or expansion of the conflict between Russia and Ukraine, or the conflict between Hamas and Israel, could further disrupt the availability of crude oil and natural gas supplies.
+Added: These conflicts could also have other impacts on our operations, including due to increased cyberattacks, which governmental and non-governmental entities have warned, have become more frequent as part of the Russia-Ukraine conflict.
+Added: Furthermore, global supply chains, already disrupted by COVID-19 pandemic, may suffer further damage if the conflicts continue or escalate .
+Added: The extent or length of any adverse effects of the war in Ukraine or the Hamas-Israel conflict on the supply of oil and natural gas and the quality and availability of carbon black oil is difficult to quantify.
+Added: The continuation or escalation of events like the war in Russia-Ukraine war or the Hamas-Israel conflict could decrease our production volumes and margins and may adversely impact our business operations, financial condition and results of operations.
+Added: The war in Ukraine has caused and may continue to cause curtailed or delayed spending by our customers’ customers, particularly in the automotive industry, and increases the risk of customer defaults or delays in payments.
+Added: The Hamas-Israel conflict could adversely impact our margins.
Risks Related to Indebtedness, Currency Exposure and Other Financial Matters
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.