Siemens raises guidance after posting highest-ever industrial profit
Siemens reported its highest ever quarterly 'industrial' profit and new orders Thursday, beating analysts forecasts and leading the German industrial group raise its full-year profitability guidance. The company's products range from trains to factory software, and building control systems. It saw improvement?across the majority of its industrial businesses. Siemens' industrial profit grew by 25% in the quarter ended June 30 to EUR3.52 billion (USD4.09 billion), its highest ever quarterly figure.
Siemens raises guidance after posting highest ever industrial profit
Siemens announced its highest-ever quarterly industrial profit and new orders on Thursday. The German industrial group beat analyst forecasts, causing it to increase its profit guidance for the full year. The company's products range from trains to factory software, and building control systems. It saw improvements in all industrial businesses, led by a "sharp" improvement at its Digital Industries Factory Automation?unit. Siemens' industrial profit grew 25% in the three months ending June 30 to EUR3.52 Billion ($4.09 Billion)…
Japanese shares fall as US-Iran negotiations fail and a naval blockade is looming
Japanese shares closed lower on Monday after the U.S.-Iran talks broke down over the weekend. The American Navy also prepared a naval blockade of Iranian ports, raising new doubts about the sustainability of a ceasefire. The Nikkei dropped?0.7%?to close at?56,502.77 after posting its steepest week-to-week gain in over a year last week. The Topix, which is a broader measure of the market, fell 0.5% to 3,723.01. Donald Trump, the U.S. president, announced on Sunday that the U.S. Navy will begin blocking the Strait of Hormuz.
Executives say Trinidad's Atlantic Liquefaction Project will begin to remove the liquefaction units in Q4.
Michael Daniel, director of capital projects at Atlantic LNG in Trinidad and Tobago, announced on Tuesday that the project's flagship, the liquefied?gas? project, would begin to remove one of its liquefaction train from operation during this last quarter. Train 1 has not been producing LNG?for more than a year but it is still in operation because all utilities, including the power that controls?all four trains, reside in Train 1.
Trinidad's Atlantic LNG Project to Decommission Liquefaction Train
Trinidad and Tobago's flagship liquefied natural gas project, Atlantic LNG, will begin removing one of its liquefaction trains from operations in the last quarter this year, its director for capital projects, Michael Daniel, said on Tuesday.The project's shareholders, including Shell, BP and Trinidad's National Gas Company, agreed to decommission Train 1 due to a shortage of natural gas and because it was the most inefficient of…
Chinese wind turbine manufacturer invests up to $2 Billion in Scottish factory
Ming Yang Smart Energy, a Chinese wind turbine manufacturer, will invest up 1.5 billion pounds ($2billion) in Scotland to build a manufacturing facility for wind turbines that could create as many as 1,500 jobs. Britain hopes to create thousands more clean energy jobs and to increase its renewable power in order to meet its climate goals. Ming Yang stated that the project will be constructed in three phases. The first phase is a 750-million-pound investment to create a facility for manufacturing wind turbine blades…
India will allow private companies to mine uranium and import it to aid nuclear expansion
Two government sources have confirmed that India wants to allow private companies to mine, import, and process uranium. This is part of a plan to end the decades-old monopoly of the state over the nuclear industry and to bring in billions to boost the sector. The government of Prime Minister Narendra Modi plans to increase nuclear power production by 12 times before 2047. It is also relaxing the requirements for foreign players to be able to own a minor stake in power stations, according to reports in April.
FT reports that Baker Hughes is close to a $13.6 billion agreement with Chart, despite a rival bidder.
The Financial Times reported that Baker Hughes, a supplier of oil and gas equipment, is close to a deal worth $13.6 billion in cash, which would allow it to purchase Chart Industries ahead of rival bidder Flowserve. Chart had agreed in June to merge with Flowserve, a maker of flow control systems, in a $19-billion all-stock deal. Baker Hughes, Chart Industries, and Flowserve have not responded to our requests for comment. According to LSEG, Chart manufactures industrial products such as valves for liquid and gas molecule handling.
Ukraine's DTEK will receive 107 million euros from EU and US for the rebuilding of power facilities
The European Commission and the United States have announced that Ukraine's largest private power company DTEK will receive 107 millions euros ($112,30 million) to restore the power plants destroyed by Russian attacks against the Ukrainian energy system. The company stated that it would receive 62.8 million Euros from the EU, and $46.1 from the U.S. Government. Since this spring, Russia has intensified their attacks on Ukraine's energy sector. They have destroyed about 90% of DTEK's generating capacity. DTEK announced that the U.S.
Svanehøj Inks Deal to Supply Chinese LNG-import Terminal
In February 2023, Svanehøj Tank Control Systems will deliver the tank gauging system for COOEC’s six new LNG tanks for the Longkou Nanshan LNG Terminal which is under construction.Global investments in LNG are increasing, not least in China, which is currently constructing around 40 LNG tanks with the capacity of 220,000 cu. m. To secure the LNG storage, one of the largest EPCI contractors for offshore oil and gas industry in the Asia Pacific region…
New Product: WhisperPower Launches New Battery Charger
WhisperPower is ready to start shipping its new range of Supreme Pro Battery Chargers. Available in four models – 40, 60, 80 and 100 amps – the chargers/power supplies have been built to exceed the most stringent requirements of the global shipping industry.The Supreme Pro range is touted by the manufacture as the smallest 24V battery charger of its type in the world, able to run silently and keep itself cool in hot areas such as…
Tech Files: Offshore Power Products
Insights on innovative power products upgrades that could be used to keep offshore operations moving along effectively, efficiently.Maersk Supply Service/Orsted power buoysDanish offshore vessel firm Maersk Supply Service and its compatriot offshore wind developer Ørsted, are testing an innovative charging buoy that can bring green electricity to offshore wind farm service vessels and potentially to a wide range of maritime vessels.The…
Rolls-Royce Invests in Qinous
Rolls-Royce is investing in Berlin-based start-up company Qinous GmbH, a global provider of energy storage and control systems, and adding turnkey microgrids to the portfolio.“As a strategic investor, the aim is to set up a partnership with Qinous for the development of innovative energy storage solutions and together offer cleaner solutions designed to meet tomorrow’s needs,” explained Marcus A. Wassenberg, CFO and Labor Director…
Goldwind Wins Certification LiDAR Tech
Chinese wind turbine manufacturer Goldwind is the world’s first OEM to receive DNV GL’s Component Certification for its LiDAR Assisted Control system.The certificate is issued according to DNV GL’s own Type and Component Certification Service Specification in conjunction with the Recommended Practice for new Technology Qualification.LiDAR, which stands for “Light Detection And Ranging”, is a technique where a laser source is used to sense the incoming wind field in front of a wind turbine rotor.
Ransomware: The IT Danger on the Horizon
Two decades into the 21st century, we’re seeing a growing and pernicious threat to global information security: ransomware. Even non-technical folk have loosely heard of it, but the broader implications haven’t yet penetrated the public consciousness. In different industries, that general lack of awareness could be a big problem—and the maritime sector is a good example.Ransomware hits at the confluence of two critical trends in modern technology: the ever-increasing integration of IT systems into daily life…
BP Dishes Greater Tortue Ahmeyim Contracts
Oil major BP has awarded subsea umbilicals, risers and flowlines (SURF) and subsea production system (SPS) equipment contracts to services providers McDermott International and Baker Hughes, a GE company (BHGE), for the Greater Tortue Ahmeyim natural gas project, located offshore Mauritania and Senegal.The Tortue/Ahmeyim gas field is located offshore on the border between Mauritania and Senegal, and contains an estimated resources…
Proserv Acquires SGC Metering
The global energy services company has announced the acquisition of SGC Metering from Petrofac.SGC Metering is a specialist in the design and manufacture of flow computer metering systems for the oil and gas industry. It provides expertise right across the full life cycle of a metering project, including conceptual design through to installation, operations and maintenance.The firm was established in 1988 and its wide array of systems allows the measurement of all the important metrics associated with hydrocarbon production…
AMSC Bags Wind Turbine ECS Order from AMSC
The US-based energy solutions provider AMSC announced it has received a $9 million order for its 5.5 MW wind turbine electrical control systems from the Korean power company Doosan Heavy Industries & Construction (DHIC)AMSC signed an agreement with the South Korea’s wind turbine manufacturer in calendar year 2017 for the rights to design and exclusively supply ECS units to Doosan’s 5.5-megawatt offshore wind turbine.The initial 5.5 MW systems were ordered in January 2018…
India to Build 50 MW LNG Power Project in Andaman
Indian Prime Minister Narendra Modi laid the foundation stone of the 50 Mega Watt liquefied natural gas (LNG) based power project in south Andaman. The will take around 18 months to be operational.NTPC Limited’s wholly-owned subsidiary NTPC Vidyut Vyapar Nigam (NVVN) will build the plant which is expected to improve the quality of life of the residents of Andaman and Nicobar Islands and boost the economic development.The plant shall…
ABB Tests Subsea Power Technology System
The completion of a final 3,000-hour test phase of the Swiss-Swedish technology multinational ABB’s subsea power infrastructure signals the culmination of a $100m partnership with world oil majors.The company has officially announced the completion of shallow water test proving that its subsea power distribution and conversion technology system for the offshore oil and gas industry is commercially viable.For the first time worldwide…