Siemens, Europe's largest engineering company, plans to slash costs by 6 billion euros ($7.7 billion) in two years to counterbalance estimates of lower profits in the coming year. "We didn't fully succeed in significantly boosting our performance vis-a-vis competitors," chief executive Peter Loescher said today. "We know what we have to do, and we are doing it."
Following a 'first firing', RWE has now started the hot commissioning phase of the combined cycle gas turbine power plant in Denizli, Turkey. "The final phase of completing the project is now underway, which will eventually be followed by handover to the operating crew", says project manager Ralf Bielack.
Dominion Resources Inc, based in Richmond, Virginia, has announced that the three power plants the U.S. producer and transporter of energy is offering for sale in the Midwest and Northeast have attracted high interest by potential buyers. The announcement was made on Thursday during the company's third-quarter earnings call.
U.S. oil major, Chevron, announced the acquisition of a 50 per cent stake in the privately held Lithuanian oil and natural gas exploration company LL Investicijos. Through entering the Lithuanian market the organisation is expanding its shale gas business in Europe. The acquisition is expected to impact Russian Gazprom’s monopoly on the Lithuanian market.
Chevron Corporation, a leading integrated energy company, has announced that its Australian subsidiary, Chevron Australia Pty Ltd, has reported a further offshore drilling success in the Greater Gorgon Area, one of the world's largest natural gas projects and the largest single resource natural gas project in Australia.
Centrica Energy's fleet of gas-fired plants has undergone "a massive change in operation" as flexibility is paramount to counterbalance the intermittency of renewable energy supply. The operator now runs the 230 MWe gas-fired Barry Power Station as a peaking plant in an open-cycle mode to boost operational flexibility.
GE is showcasing its new FlexEfficiency 60 Portfolio at today's opening of GE's Energy Technology Center in Seoul. The US engineering giant said it has configured its gas-fired FlexEfficiency 60 technology to meet efficiency and operating flexibility needs of 60-hertz countries, including South Korea.