Vale announces that it concluded the transaction with Cemig Geração e Transmissão S.A (Cemig GT) to create the joint venture Aliança Geração de Energia S/A (Aliança Geração). This transaction is related to the agreement signed with Cemig GT announced in December 19, 2013.
McDermott International, Inc. (NYSE: MDR) (“McDermott”) and Petrofac Limited (“Petrofac”), an international oil and gas facilities service provider, announced today they have formed a strategic marketing alliance to pursue top-tier deepwater subsea, umbilical, riser and flowline (“SURF”) projects.
BASF and PETRONAS Chemicals Group Berhad (PCG) will build a new world-scale production plant for 2-Ethylhexanoic Acid (2-EHAcid) at the site of their existing joint venture, BASF PETRONAS Chemicals, in Kuantan, Malaysia.
RWE Innogy and Statkraft have signed an agreement to jointly develop the Triton Knoll Offshore Wind Farm, off the east coast of England. The deal will see Statkraft take a 50% stake in the UK wind farm, which has an expected capacity of up to 900MW.
Dominion Virginia Power is planning to develop multiple large-scale solar projects totaling 400 megawatts of electricity. All projects will be built in Virginia with the involvement of Virginia-based companies and are expected to be operational by 2020. Together, these solar facilities are anticipated to be capable of generating enough electricity at peak capacity to power 100,000 homes.
Mitsubishi Heavy Industries, Ltd. (MHI) has determined, effective October 1, to establish two new group companies at its Nagasaki Shipyard & Machinery Works' Koyagi Plant - one to undertake ship construction and the other to manufacture hull blocks - and to transfer its operations in construction of large-size commercial ships in the Nagasaki district to the new firms.
Total Energy Ventures, the corporate venture capital arm of French energy company Total, is investing in Avenisense, a French company specialized in embedded fluid property sensors.
Chevron Corporation (NYSE:CVX) today announced a $35.0 billion capital and exploratory investment program for 2015. Included in the 2015 program are $4.0 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron. The 2015 budget is 13% lower than total investments for 2014.
Eni, Vitol and Ghana National Petroleum Corporation (GNPC) signed today with the President of the Republic of Ghana, John Dramani Mahama, and the Minister of Petroleum, Emmanuel Armah-Kofi Buah, the agreement to proceed with the OCTP integrated oil & gas project in Ghana. First oil is expected in 2017, first gas in 2018 and the peak production will be 80,000 boed in 2019.
China's rapid growth in nuclear energy is accelerating with the latest announcement that construction will start on five new nuclear plants is 2015 - this is in addition to the 26 already being built. And the country's Premier recently reiterated his call for nuclear firms to expand abroad.