JERA expands its trading portfolio, and expects to sell more LNG overseas
The head of JERA's new global LNG unit stated that the company expects to sell more natural gas outside Japan in the next two-year period as it expands its trading portfolio. This will help to safeguard energy security from volatile power demand. JERA Global Energy Solutions (JERA-GES), the Singaporean entity that was launched in July of this year, is looking to balance the seasonal fluctuations in Japan’s LNG demand.
Siemens Energy sells most of its Industrial Division
Siemens Energy announced on Tuesday that it plans to sell the majority of its division that supplies industrial customers. The move is intended to focus the power equipment supplier's attention more on the growing utility sector. Siemens Energy's Transformation of Industry business unit (ToI), which makes steam turbines, electrolysers, and other products…
Siemens Energy exceeds Q3 predictions on AI data centres boom and Middle East demand
Siemens Energy said that its sales, margins, and 'orders' hit records in the third quarter. This was boosted by the expansion of AI data centers in the United States, and the power plants in Middle East, which have increased demand for gas turbines. Siemens Energy reported that its struggling Siemens Gamesa Division, which has been a "millstone" around the neck of the German Group for years…
Baker Hughes predicts lower oil and gas spending in 2026
Baker Hughes announced on Monday that it expects global oil and gas producers to reduce their annual spending modestly in this year. The growth in Latin?America and offshore Africa will be offset by lower spending in?European and Middle Eastern countries. This year, the Middle East conflict has dominated the energy market. The repeated escalation of tensions between Iran and the U.S.
Pollution from Musk’s unpermitted xAI project is worst in Black Communities
Elon Musk's artificial-intelligence company xAI installed 59 natural-gas turbines in Tennessee for its Colossus 2 project without obtaining federal clean air permits. This was according to communication between regulators, xAI representatives and the EPA. The potential emissions from these turbines would exceed the federal threshold for a permit and would be released in predominantly Black communities…
Projects are rushed as prices soar due to the Trump Clean Energy Tax Credit Cutoff
Solar developers in the United States have secured federal subsidies to help them build a large number of solar projects that will nearly double their current capacity. They are rushing to beat a deadline on July 4, which could cause a sharp increase in renewable power costs. The projections show the loss of 'valuable renewable energy credits worth at least 30 percent of project costs. This change threatens to increase U.S.
Siemens Energy: The Iran war is driving demand for gas turbines and AI to further increase.
Siemens Energy executives stated on Thursday that the Iran war has 'become an additional driver for?demand of gas turbines. Siemens Energy, along with its rivals GE Vernova, Mitsubishi Heavy Industries and others, has seen the demand for gas turbines increase as hyperscalers spend more than $700 billion on energy-hungry artificial intelligent, driving demand for new energy capacities.
GE Vernova raises its annual revenue and profit margin forecasts for data centers
GE Vernova raised its 'annual forecasts of revenue & adjusted core profit margin on Wednesday, thanks to strong demand for its power equipment from data centers. The?shares? of the company rose 4.2% during pre-market trading. According to the Energy Information Administration (EIA), U.S. electric consumption will continue to rise in 2026-2027. This is partly due to?power-hungry artificial intelligence data centers.
Wartsila CEO sees boost from Trump Datacenter Push
The CEO of the Finnish energy company said that a push to have U.S. datacentres use their own power would boost the demand for Wartsila’s environmentally friendly products and?help support a "double digit" increase in the hiring of service staff over the next 2 years. The White House announced on Wednesday that it will meet with technology companies such as Microsoft and Amazon on March 4…
The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may hit a snag soon as U.S. power grids struggle to keep up with hyperscalers who spend a lot of money. Microsoft, Amazon Alphabet, and Meta are among the technology giants in America that have announced in recent months plans to spend over $600 billion in AI by 2026. Investors are already unsure about the viability of this strategy due to the investment wave.
Mississippi holds hearings on xAI Data Center amid Environmental Lawsuit Threat
Mississippi regulators are hosting a public meeting on Tuesday to discuss plans xAI, owned by Elon Musk, has made to build a gas fired power plant?to run its Colossus II Data Center. The company is facing a 'lawsuit threat from the 'NAACP accusing them of violating federal laws if they install and operate gas turbines - without air permits. The…
Baker Hughes, a provider of oilfield services, reports a 11% increase in its adjusted quarterly profits
Baker Hughes reported a 11% increase in 'adjusted profits' for the fourth quarter, as demand for?its gas-technology equipment and services outweighed weakness in its oilfield equipment and services business. In recent quarters, the company has benefited from the demand for its equipment and services such as compressors and gas turbines that it offers to LNG companies…
Vistra buys Cogentrix Energy for $4.7 billion amid rising power demand
Utility Vistra announced on Monday that it has agreed to purchase Cogentrix Energy from Quantum Capital Group for $4.7 billion. The company is looking to meet the growing demand for power. The shares of the company increased by nearly 5% during extended trading. The Texas-based electricity company said that the deal included $2.3 billion cash, $900 millions in Vistra shares and $1.5 billion of debt.
GE Vernova is expecting 80 gigawatts in gas turbine contracts before the end of the year
GE Vernova, a manufacturer of power generation equipment, said that it expects to sign 80 gigawatts in combined-cycle gas?contracts before the end of this year - as electricity demand from Big Tech data 'centers - ramps up. The demand for natural gas-powered?turbines has risen as U.S. electricity demand is at record levels due to the proliferation energy-intensive data centres supporting artificial intelligence initiatives.
Siemens Energy gives investors $11.5 Billion as the power market booms
S iemens Energy announced on Thursday that it will return up to 10 billion euro ($11.5 billion), to its shareholders by the year 2028, on the backs of booming demand in power infrastructure equipment. This has boosted the company's shares to a new record high. Siemens Energy announced that up to 6 billion euro would be spent on a share-buyback program, while the remainder will go towards dividends.
As yttrium shortages grow, a new rare earth crisis is on the horizon
Due to Chinese export restrictions on yttrium, global supplies are in short supply. This has led to fears of shortages, and a rise in costs, which could affect aerospace, energy, and semiconductor production. In April, China, which is the primary source of this element, used in coatings that protect against high temperatures and in alloys for engines, limited exports, along with six others rare earths, in response to U.S.
Siemens Energy finds limited synergies in onshore and off-shore wind
Siemens Energy's CEO stated on Friday that there are few synergies to be found between its onshore wind unit and its better performing offshore units. This reflects the uncertainty surrounding the future of this loss-making division. Siemens Gamesa is Siemens Energy's wind turbine division, which produces both on- and offshore turbines. The division…
Siemens Energy will pay dividends for 2025 and raises the mid-term outlook
Siemens Energy announced on Thursday it will pay its first dividend for four years, and has also raised its outlook mid-term due to strong demand in gas turbines and transmission technology. Christian Bruch, CEO of the company's wind-turbine division, said that the success "was hard-earned" and not a result of chance. He was referring to the years of cost cutting and restructuring in response to a quality crisis.
Equinor abandons offshore electrification due to rising costs
Equinor, citing rising costs, informed the Norwegian government that it had scrapped its plans to reduce greenhouse gas emissions through the connection of several offshore platforms with the onshore grid. Norway's oil and gas industry is the largest contributor to climate change emissions. It accounts for about one quarter of all emissions. Gas…
Ansaldo Energia CEO: Asia sales to be boosted by acquisitions and Ansaldo Energia's focus on acquisitions
Ansaldo Energia, a developer of power plants in Italy, is seeking to expand its business into new markets like Vietnam and Malaysia by acquiring companies. Its chief executive stated that the company aims to double their turnover over the next few years. The group, owned by the Italian state bank Cassa Depositi e Prestiti and which makes nuclear reactors…