Energy Biz Cheat Sheet: GE and Toshiba Team Up, Petroquest Energy Goes On Acquisition Binge
Southern Company (NYSE:SO) could soon become the first company in 30-plus years to build a nuclear power plant in the U.S. The NRC is holding final hearings in Washington, D.C., on the issue. “This is the first, best shot for the nuclear renaissance in America,” says the company’s CEO.
Peabody Energy (NYSE:BTU) has announced plans to expand its COALTRADE platform by opening a new coal trading office in Essen Germany, which is one of the most active and liquid coal markets in Europe.
Google (NASDAQ:GOOG), partnering with Clean Power Finance, is investing $75 million to have solar panels installed on 3,000 homes. Homeowners would pay Google a monthly fee that would be the same or less than what the local utility would charge.
InterOil (NYSE:IOC) is trading lower after Papua New Guinea’s Energy & Petroleum Minister called for the company to revise a $6 billion natural gas project, saying the planned project is different from that which had been approved. InterOil is denying that its project strays from that proposed in the original agreement.
LyondellBasell (NYSE:LYB) will begin talks to cease operations at its refinery in Berre, France. Its offer to sell the 105,000 bpd operation failed to attract any buyers.
Starting off an acquisition and development kick in Oklahoma has Petroquest Energy (NYSE:PG) trading higher today as the company adds to its exploration and production in three other states and the Gulf.
Cliffs Natural Resources (NYSE:CLF) plans to idle operations at a biomass production facility in Michigan while it looks into selling the plant, where production hasn’t performed at a level that justifies continued operation.
ConocoPhillips (NYSE:COP) has announced that it’s seeking a buyer for a refinery, as well as related pipelines and terminals, in Pennsylvania.
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Toshiba and General Electric (NYSE:GE) will jointly sell a power generation system utilizing steam and gas turbines across Asia and the Middle East, according to a Kyodo News report.