Altair deal could be funded by other companies, including Siemens.
Ralf Thomas, chief financial officer of Siemens, said that the company could sell a portion of its shares in Siemens Healthineers and Siemens Energy, as well as Fluence, to fund the $10.6 billion Altair purchase. Siemens owns 75% of medical equipment manufacturer Siemens Healthineers, 17% of Siemens Energy and 31% in energy storage company Fluence. Thomas, an analyst, told investors that the sale of listed companies could generate substantial revenue.
GE Vernova reports higher revenue in Q3 on the back of power demand growth
Power equipment manufacturer GE Vernova announced higher revenue for the third quarter on Wednesday, as strong demand in power and electrification equipment helped offset weaker sales in wind. GE Vernova will benefit from the global push to transition to renewable energies, as well as an expected surge in demand for power due to the proliferation of data centers. The company's orders for its gas power equipment and services grew by 28%, while the revenue from electrification rose by 22%.
Floating Offshore Wind: Attention Turns Subsea for Power Transport
From being an ugly duckling, floating offshore wind is now the Cinderella of the offshore renewables world. Attention is now being paid to floating and even subsea substation concepts to help bring this power to shore. Over the past year, expectations around the growth in the floating offshore wind development have grown, significantly. Many are piling into the market, seeing that it could give them a chance to ramp up renewables capacity quickly…
Huisman Crane for Penta-Ocean's Wind Turbine Installation Rig
Dutch offshore equipment manufacturer Huisman has signed a contract with PaxOcean Engineering for the delivery of a 1,600mt Leg Encircling Crane. The crane will be installed on the new self-elevated platform (SEP) of Japanese company Penta-Ocean Construction, which ordered the unit from PaxOcean earlier this year.With this Huisman crane, the new jack-up unit will be capable to install 12 MW wind turbines and various foundations including monopiles.
KCA Deutag Wins $168mln Russian Gig
Global drilling and engineering contractor KCA Deutag (KCAD) announced that its land drilling operation has won three new contracts in Russia worth approximately $168m.These contracts are for eight high performance land rigs, seven of which were previously built by Bentec, KCAD's rig and oilfield equipment manufacturer. The first contract is with an existing client for five of those rigs to carry out drilling operations in two fields in Eastern Siberia.
KCA Deutag Wins Multiple Drilling Contracts
Global drilling and engineering contractor KCA Deutag (KCAD) has been awarded new contracts and contract extensions worth $110m to perform onshore drilling in the Middle East, Russia and Africa.In the Middle East, KCAD has been successful in winning a total of seven years of contract extensions for five heavy rigs operating in Oman. The extension for each rig ranges from one to two years. In addition to this, we have also signed a contract with a new client in Oman for one of our 2000hp rigs.
Senvion, Toshiba Energy Systems Form Wind Energy Alliance
Toshiba Energy Systems & Solutions Corporation and German wind turbine equipment manufacturer Senvion GmbH announced that they signed a mutually non-exclusive strategic cooperation agreement for the distribution of onshore and offshore wind power generation systems.Through this collaboration, Toshiba ESS will sell Senvion's wind power generation system in Japan, using the commercial distribution of Toshiba ESS.The…
Asia-Pac Offshore Wind Capacity to Rise 20-fold in a Decade: Wood Mackenzie
Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027, said new research from global natural resources consultancy Wood Mackenzie. Future offshore wind prices will be competitive with traditional thermal prices, it said.Leading the charge is China, which is expected to see offshore wind capacity grow from 2 GW last year to 31 GW in the next decade.Next is Taiwan which will account for 20% or 8.7 GW of offshore wind capacity by 2027…
Partners Aim to Revolutionize Subsea Boosting Pumps
Ask an equipment manufacturer for cheap, light and strong, and most will tell you it can’t be done. Fuglesangs Subsea, project manager for the JIP, will tell you otherwise. “We think we’ve cracked the code,” said CEO Alexander Fuglesang. Statoil joins Aker BP, Lundin and National Oilwell Varco in the DEMO2000 JIP. The project aims to bring the Fuglesangs Subsea Omnirise single-phase booster to market by early 2019.
Siemens Expands Logistics Deal with Peterson
Peterson Chemicals has secured a second logistics contract with original equipment manufacturer Siemens. The new contract for the Veja Mate wind farm in Germany, includes the supply of Jet A1 aviation fuel in offshore transport fuel tanks which is similar to the first contract awarded in August 2016. Siemens Gamesa Renewable Energy has also extended the original one year frame agreement for the Netherlands Gemini wind farm to three years.
Schlumberger Signs Two Transocean Service Agreements
Cameron, a Schlumberger company, signed two 10-year pressure control equipment management service contracts on behalf of Transocean valued at greater than $350 million. The first contract calls for Schlumberger to manage Transocean’s Cameron risers in the Gulf of Mexico. This comprehensive agreement includes storage, maintenance, inspection, repair, recertification and data-driven riser management on the rigs. Through the second contract…
Chet Morrison Partners on Riser Project
Chet Morrison Contractors’ Deepwater Riser Services division recently completed work on a complex deepwater riser maintenance project for an offshore drilling rig that included complete disassembly, blast, paint and reassembly of 57 risers. By partnering with the Original Equipment Manufacturer (OEM) on the project, Chet Morrison Contractors was able to deliver key services that allowed for an OEM-recertification on the risers.
Lithium-Ion Battery Tech Company Nets $2 Mln Investment
A publicly traded Chinese company’s investment of $2 million in a Reno-based startup that makes lithium-ion batteries is expected to accelerate expansion of the manufacturing capacity for Dragonfly Energy Corp. Dynavolt Renewable Power Technology Co. Ltd. (0002684.SZ) invested $2 million to acquire 2 million shares of Series A Preferred Stock in Dragonfly Energy. The investment represents a one-third ownership stake in the company.
RSC Bio Solutions Expands Series of Biodegradable Lithium Complex Greases
RSC Bio Solutions exanded its EnviroLogic 800 series of biodegradable greases. The EnviroLogic 800 series are VGP compliant, biodegradable Lithium Complex greases designed to operate in severe outdoor environments and withstand corrosion. RSC Bio Solutions is introducing EnviroLogic 800 and EnviroLogic 801 greases to further compliment the already established EnviroLogic 802, allowing the company to offer solutions for additional applications when specifications call for NLGI grades #0 and #1.
Kraken Oil Project Gets Custom Subsea Spreaders
Heavy lifting equipment and engineering specialist Modulift announced it has manufactured two custom subsea spreader beams for the subsea construction company currently conducting a large-scale engineering, procurement, installation and construction contract for EnQuest’s Kraken development, one of the largest subsea heavy-oil field projects under development in the U.K. sector of the North Sea. The below-the-hook equipment manufacturer delivered the 303t capacity…
VIKING, Daemyung Marine Invest in Korea
Marine safety equipment manufacturer and servicing provider VIKING Life-Saving Equipment A/S is to establish a local presence in Korea through a joint venture agreement with leading Korean marine safety equipment and servicing company Daemyung Marine Co. Ltd. The new joint venture, VIKING Life-Saving Equipment Korea LLC, has VIKING as the majority shareholder. The venture aims to bring faster access for Korean-based and foreign-flag ship managers in the cargo…
National Oilwell Varco Appoints Senior VP & CFO
Oilfield equipment manufacturer National Oilwell Varco, Inc. has named Jose A. Bayardo as its new Senior Vice President and Chief Financial Officer effective August 28, the company announced today. Bayardo succeeds Scott K. Duff, Interim Chief Financial Officer, who will continue to serve as the company’s Vice President, Corporate Controller and Chief Accounting Officer. Prior to joining National Oilwell Varco, Bayardo served as Senior Vice President, Resource and Business Development at Continental Resources, Inc.
Sparrows Appoints Bertone to Oversee Americas Growth
The Sparrows Group has boosted its senior management team with the appointment of a director to head up its operations across the Americas. Steve Bertone joins the Sparrows Group, after 33 years with McDermott International. In his new role, Bertone will be based in Houston and will oversee all of Sparrows Group’s operations in the US, Brazil, Mexico and the Caribbean. Bertone said, “The Americas is a region that presents a wealth of exciting opportunities for a well-respected business like Sparrows Group.
New VIKING ETSO transport suit tough to beat
“When it comes to passenger suits for helicopter transfer, there are a number of commonly used materials and features that are well-suited to the task,” says Jens Peter Kruse, Vice President, PPE at leading maritime and fire safety equipment manufacturer and service provider VIKING Life-Saving Equipment. Jens Peter is referring to VIKING’s latest addition to what is already the widest range of ETSO- approved suits on the market: the PS5040 suit…
MacGregor Launches Training Center for Offshore Davit Operations
MacGregor launches a new training centre in its Aberdeen office in the UK to deliver specialists skills and competencies to its engineers and customers. Aberdeen office is the leading launch and recovery service provider within MacGregor’s Global Lifecycle Support Division. Central to the training centre has been the creation of a bespoke, real-time davit training rig, which replicates the operation of onboard work boat and lifeboat launch and recovery davit systems including towing boom operation.
