Green Marine: Electrification is the Power behind ‘Future-Proofing’
There's an “electrification of the seas” happening for navies around the world.Whether it's to achieve greater military capabilities, operational economics and efficiencies or to be better stewards of the environment.There's a trend moving from direct mechanical drives towards more flexible electrical propulsion systems. Ships can still have the same propellers and engines, but they now have a much more flexible power system architecture that benefits design…
Eelectrification: Re-engineering a Low-carbon O&G Industry
Cleaner and greener: Azeez Mohammed, president & CEO of GE's Power Conversion business, discusses the key role of electrification technology in decarbonizing the oil and gas value chain.The renewables revolution is in full swing. However, renewable energy alone will not be sufficient to meet EIA’s forecast[1] of a 28 percent increase in world energy use to 2040. And that’s despite its prediction in the same report that wind…
Integrated Gas Compression: A Natural Fit for North America
Natural gas abounds in North America. At the end of 2016, Canada and the U.S. shared 414 trillion cubic feet of proved reserves, with the U.S. the world’s largest producer and Canada the fourth largest. Unsurprisingly, there’s a keen appetite for developing LNG facilities across the continent.In recent years, we’ve seen several large-scale LNG projects taking shape, including five new export terminals coming online in 2018 and 2019. Once in operation, they will make the U.S.
GE's CEO Steps Down, Shares Jump 15%
General Electric Co Chief Executive Officer John Flannery abruptly stepped down on Monday just over a year after taking the role, and the company announced a $23 billion charge related to its struggling power business.Flannery's departure calls into question plans to reorganize one of America's best-known corporations. He had promised to revamp GE into a leaner company by cutting jobs and shedding several businesses.The company's shares rose 15 percent before the opening bell.
GE Says Four Flagship Power Turbines are Shut Down in U.S.
General Electric Co said on Thursday that four of its new flagship power turbines in the United States have been shut down due to an "oxidation issue" and warned it expects the problem to affect 51 of the giant machines it has shipped, sending shares lower.The problem was discovered a few weeks ago on turbine blades in a natural gas-fueled turbine, known as the 7HA, operated by Exelon Corp in Texas, GE told Reuters. "We expect the same issue will impact other HA units…
GE Power Releases Whitepaper on Energy Digitization
GE Power Releases Whitepaper on Digitization of Energy Transmission & Distribution in AfricaAs Africa faces emerging opportunities to help deliver efficient, affordable and reliable electricity to consumers, GE Power’s Grid Solutions business has unveiled a whitepaper on the “Digitization of Energy Transmission & Distribution in Africa.” The paper explores the opportunities and challenges faced in Sub-Saharan Africa as the new future of energy and electrification emerges.
Op/Ed: Connecting to the Future of Offshore
120 miles out at sea, 6,000-horsepower devices lift drilling equipment weighing up to 3 million pounds out of holes lying 10,000 feet beneath the water. Keeping such sea monsters in good working order, often for years at a time, is no mean feat. Oil companies spend between $300,000 and $800,000 per day on each vessel drilling offshore. Any failures can result in losses that run into hundreds of thousands of dollars per day.With such high costs and massive market pressures…
GE Profit Tops Estimates
General Electric Co posted quarterly results that topped expectations on Friday, as earnings from aviation, healthcare and transportation offset weak power and oil-and-gas profits, sending shares sharply higher. GE affirmed its forecast for 2018 earnings and cash flow, and said it expects to book as much as $10 billion in proceeds from divesting industrial assets this year. Those comments eased concern that GE would post poor results. GE's profit reflected 7-percent revenue growth and vigorous cost cutting.
GE Mulls 12,000 global Job Cuts
General Electric Co is axing 12,000 jobs at its global power business, the struggling industrial conglomerate's latest effort to shrink itself into a more focused company. The U.S. company launched the cuts to save $1 billion in 2018, saying it expected dwindling demand for fossil fuel power plants to continue. "Traditional power markets including gas and coal have softened," GE said. Rumors of sweeping job cuts were confirmed by labour union sources on Wednesday, with staff in Switzerland and Germany among those badly hit.
GE Power Division Signs $3 bln Services Deal in Algeria
GE Power, a division of General Electric Co, has signed a services deal with a subsidiary of Algerian utility Sonelgaz valued at more than $3 billion, the largest such agreement ever for GE Power, GE said on Monday. Under the 20-year contract with Sonelgaz SPE, GE will provide long-term maintenance and operations services for 10 power plants in Algeria, which produce 11 gigawatts of power, about 70 percent of Algeria's electricity, GE said.
GE Signs Exelon In Its Largest Power-plant Software Deal
General Electric Co has signed up U.S. energy utility Exelon Corp to use its full software set to analyze and manage power plants in 48 states, the largest GE deployment in the power sector so far, the companies said on Tuesday. The Exelon deal, aimed at wringing greater efficiency from the business of generating electricity, marks another advance in GE's effort to lift annual digital technology revenue to $14 billion in 2020 from $5 billion in 2015, across its many industrial products.
GE Appoints Mohammed as Power Conversion President & CEO
GE has announced Azeez Mohammed has been appointed President & CEO of GE Energy Connections’ Power Conversion business, effective July 11, 2016. Mohammed comes to Power Conversion from his most recent role as President and CEO, of GE’s Power Services business for Middle East and Africa. He was instrumental in leading GE’s digital transformation, helping to position the organization as the world’s foremost digital-industrial company by launching innovative customer solutions in the power and LNG sectors.
GE Interested in German Offshore Wind, Eastern Europe
General Electric, fresh from taking on the offshore wind business of rival Alstom, is positioning itself in Germany's expanding offshore wind sector and looking at eastern Europe. "German offshore wind has become very important for us," Carlos Haertel, chief executive for GE Germany & Austria, told Reuters in an interview. "Onshore wind in eastern Europe and the Balkan countries is currently interesting, especially in Poland and Romania," he said.
SapuraKencana GE Oil & Gas Services Bags PETRONAS FLNG Contract
LNG1 (L) Ltd. (PFLNG) to provide maintenance services for PETRONAS’ two forthcoming floating LNG vessels. A Contract Exchange ceremony for the award was held in Kuala Lumpur on Thursday, 24 March 2016 between PFLNG and SKGE. Under the agreement, SKGE will provide PETRONAS with complete maintenance services for their fleet of twelve gas turbines as well as their fleet of GE compressors, generators and electric motors to be installed on their floating LNG vessels.
APR Signs Contract Extensions in Iraq, Angola
APR Energy plc announced today that it has signed extensions of its power generation contracts in Iraq and Angola. The Company’s contract extension in Iraq is for a one-year term, and runs through 2016. The power plant has been in operation since 2012 and comprises six GE TM2500 mobile gas turbines. APR Energy acquired the plant in 2013 as part of its acquisition of GE’s power rental business. Located in Basra, in the southernmost part of the country…
Reimelt Named Head of GE Power Conversion
Stephan Reimelt has been appointed as president and CEO of GE’s Power Conversion business, succeeding Joe Mastrangelo who becomes president and CEO of Power Generation Products for GE Power & Water, GE Energy Management president and CEO Mark Begor announced today. Power Conversion is at the heart of generating cleaner and more efficient power for multiple industries. Ge said it is a growing business, operating in 160 locations worldwide, with more than 7,000 employees.
GE: Alstom Power Deal on Pace for Mid-2015 Closing
General Electric Co's $16.9 billion purchase of the power assets of France's Alstom is on pace for closing in the middle of next year after passing several steps, the head of GE's power business said on Wednesday. The U.S. conglomerate's biggest-ever acquisition had encountered fierce resistance from the French state earlier this year, but Alstom said on Wednesday that the deal won official clearance from the country's government, as well as support from European works councils.
GE in $500 mln Equipment Deal with Exelon
General Electric Co said on Monday it has won an order worth more than $500 million to provide power-generating equipment to U.S.-based Exelon Corp , including four of GE's highest efficiency gas turbines. Exelon said it was planning to build two combined-cycle gas turbine units in Texas using the GE technology. The new units are being built at Exelon's Colorado Bend site in Wharton County, Texas, and at its Wolf Hollow natural gas plant in Granbury, Texas.
APR Energy Signs Contract for Peaking Power Plant in Australia
APR Energy, a global leader in fast-track power solutions, today announces contract signature for a peaking power plant in Port Hedland, Pilbara, Western Australia. The power plant features four state-of-the-art GE TM2500+ dual-fuel turbines running on clean-burning natural gas. Contracted with the end-user customer, Horizon Power, the plant will run for a term of at least 30 months and will serve as a bridging solution until TransAlta Energy (Australia) develops a permanent power plant, due for completion in early 2017.
Irving Oil CEO Departs after Less than Two Years
Irving Oil Ltd, the privately held firm that operates Canada's largest refinery, said on Thursday that Paul Browning, the chief executive it appointed only last year, has left the company, though it offered no detail on the reason for his departure. Samantha Robinson, a spokeswoman for the company, confirmed in an email that Browning, a former General Electric Co executive, had departed the family-owned company but did not say when he had left or when a successor would be named.
