Reuters LONDON – The commissioning of new wind turbines globally surged by a record 59% to more than 96 gigawatts (GW) of capacity last year despite the COVID-19 pandemic, research by BloombergNEF showed on Wednesday. Developers commissioned 96.3 GW of wind turbines in 2020, compared with 60.7 GW the previous year, the majority of which were onshore installations. Meanwhile, the
Oil and Gas 360 NEW YORK (Reuters) – General Electric Co accused a Siemens Energy AG subsidiary of using stolen trade secrets to rig bids for lucrative contracts supplying gas turbines to public utilities, and cover up improper business gains totaling more than $1 billion, according to a lawsuit filed on Thursday. GE sued the rival company, Siemens Energy Inc,
CNBC GE said Monday that it intended to “exit the new build coal power market,” in a move that will see the industrial powerhouse place a renewed emphasis on renewable energy. Over the years, GE has been deeply involved with the coal industry. Its website states it has 100 years of “coal-fired power service expertise” spread across more than 90
Source: Houston Chronicle Baker Hughes has officially dropped GE from its name. The Houston oilfield service company announced on Thursday morning that it has officially changed its name to the Baker Hughes Company. The company’s stock will begin trading on the New York Stock Exchange under the stock ticker symbol BKR on Friday morning Baker Hughes merged with GE Oil &
By Tyler Losier, Energy Reporter, Oil & Gas 360 Enerflex names Sanjay Bishnoi as senior vice president and CFO, David Izett as senior vice president and general counsel Enerflex Ltd. (stock ticker: ENRFF), a Calgary-based oilfield service company, has appointed Sanjay Bishnoi as senior vice president and chief financial officer, and David H. Izett as senior vice president and general
From Reuters Oil prices rose more than $1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008. Brent crude LCOc1 futures gained $1.15, or 2%, to settle at $58.53 a barrel. U.S. West Texas Intermediate (WTI) crude
By Tyler Losier, Energy Reporter, Oil & Gas 360 Chairman Barry E. Davis will once again serve as the CEO of EnLink Midstream EnLink Midstream LLC (stock ticker: ENLC) will be reappointing its current executive chairman, Barry E. Davis, as chief executive officer, effective August 8. Previously, Davis, who will be retaining his position on the board, served as EnLink’s
From Reuters General Electric Co’s oilfield services arm, Baker Hughes, beat quarterly profit estimates on Wednesday, driven by higher LNG drilling and demand for its oilfield services in international markets, sending its shares up nearly 6%. Revenue in the oilfield services segment, which constitutes a majority of the company’s operations, rose 14% to $3.26 billion in the second quarter, led
By Tyler Losier, Energy Reporter, Oil & Gas 360 Jud Bailey named vice president of investor relations at Baker Hughes General Electric Baker Hughes (stock ticker: BHGE), an oilfield services company owned by General Electric (stock ticker: GE), has appointed Jud Bailey as its new vice president of investor relations, effective as of August 2019. Bailey will replace Philipp Mueller,
By Tyler Losier, Energy Reporter, Oil & Gas 360 Pacific Drilling appoints James W. Harris as senior vice president, chief financial officer Pacific Drilling S.A. (stock ticker: PACD), a deepwater offshore drilling contractor, has appointed James W. Harris to serve as the company’s senior vice president and chief financial officer. He will be replacing Johannes P. Boots, who has come
By Tyler Losier, Energy Reporter, Oil & Gas 360 Sergio A. Tuberquia joins Data Gumbo as chief commercial officer Data Gumbo, a blockchain-as-a-service (BaaS) company based in Houston, has tapped Sergio A. Tuberquia for the position of chief commercial officer. The hiring of Tuberquia comes shortly after the company received $6 million in series A funding led by Saudi Aramco
The Baker Hughes GE conflicts committee approved a series of agreements following the negotiations with GE. GE’s board also has approved the agreements, the companies said. Source: Baker Hughes, a GE Company – SEC filing Nov. 14, 2018 In brief: BHGE and GE agreed on a release from the lock-up restrictions under their stockholders’ agreement that previously prevented GE from
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