GE Hitachi Nuclear Energy and Exelon Nuclear Sign Services Contract

- GE Hitachi Nuclear Energy and Exelon Nuclear Sign Services Contract



Aug 29, 2011

General Electric (NYSE:GE) Hitachi Nuclear Energy announced that it has been awarded a nearly $150 million integrated outage contract by Illinois-based Exelon Nuclear to help ensure the continued, safe performance of the utility's entire fleet of boiling water reactor nuclear power plants in Illinois, Pennsylvania and New Jersey.

The agreement is effective immediately and runs through completion of the spring outage season in 2015. Terms of the contract call for GEH to provide services for assisting with the refuel floor activities and performing the under-vessel and inspection services.

General Electric (NYSE:GE) has a potential upside of 41.8% based on a current price of $15.92 and an average consensus analyst price target of $22.58.

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GM and LG to Jointly Develop Electric Vehicles

- GM and LG to Jointly Develop Electric Vehicles



Aug 25, 2011

General Motors and LG Group will join forces in design and engineer future electric vehicles, expanding a relationship built on LG's work as the battery cell supplier for the Chevrolet Volt and Opel Ampera extended-range electric vehicles.

The definitive agreement will assist GM expand the number and types of electric vehicles it makes and sells by using LG's proven expertise in batteries and other systems.

Timing of the launch of the first vehicles resulting from the partnership will be announced closer to market readiness. The agreement does not involve an exchange of equity between the companies.

General Motors (NYSE:GM) has a potential upside of 85.6% based on a current price of $22.3 and an average consensus analyst price target of $41.38.

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GE Acquires Commtest, Terms Not Disclosed

- GE Acquires Commtest, Terms Not Disclosed



Aug 19, 2011

General Electric (NYSE:GE) announced the acquisition of Commtest, a provider and designer of machinery health information systems.

GE Energy's Bently Nevada product line, a global leader in condition monitoring will incorporate Commtest products into its portfolio and enhance an already robust line up.

Art Eunson, general manager for GE's Bently Nevada product line said, "The acquisition of Commtest allows us to significantly upgrade our portable vibration data collection and analysis capabilities. Bently has an extensive portfolio of continuous monitoring solutions, sensors and transducers, software and supporting diagnostic instillation services, but the Commtest acquisition will help us bring our customers a more integrated offering that takes into account the health of the entire plant."

General Electric (NYSE:GE) has a potential upside of 47.2% based on a current price of $15.34 and an average consensus analyst price target of $22.58.

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Ford To Sell Solar Panel System Alongside With Electric Cars

- Ford To Sell Solar Panel System Alongside With Electric Cars



Aug 17, 2011

Ford Motor Company (NYSE:F) is joining forces with SunPower to offer a rooftop solar system option, which will be sold alongside the upcoming Ford Focus EV. The "Drive Green For Life" program, as its being called, includes mounting solar panels on a customer's home.

Pricing and an exact launch date for the new 2012 Ford Focus isn't available yet, but the car will go on sale first in California and New York in Q4 2011.

Ford also plans to launch 5 other electric or hybrid-electric models in 2012 in North America, and in Europe by 2013.

Ford Motor (NYSE:F) has a potential upside of 81.1% based on a current price of $11.07 and an average consensus analyst price target of $20.05.

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General Electric Tops Q2 EPS and Revenue Estimates, Optimistic About Growth

- General Electric Tops Q2 EPS and Revenue Estimates, Optimistic About Growth



Jul 22, 2011

General Electric (NYSE:GE) reported Q2 EPS of 34 cents, topping consensus estimates of 32 cents per share. Revenue in the quarter totaled $35.63 billion, above the consensus estimate of $34.72 billion. Excluding NBC Universal, revenues rose 7% year-over-year. Industrial revenue rose 23%.

GE also announced that in October it will retire the preferred stock issues to Warren Buffet's Berkshire Hathaway.

GE reported a backlog of $189 billion.

GE Chairman and CEO Jeff Immelt said, "With our fifth-consecutive quarter of double-digit earnings growth, we continue to execute in a volatile environment. We posted solid overall operating earnings growth of 18%, with strong contributions from GE Capital, Healthcare, Transportation, Aviation, and Oil & Gas. GE's backlog grew to a record high of $189 billion. Total infrastructure orders were up 24%, reflecting robust strength in equipment orders, up 33%, and service orders up 16%. We are very encouraged by second-quarter orders and earnings momentum across the company. We are optimistic about our growth prospects in the second half and beyond."

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General Electric appoints new Chief Engineer for GE Aviation

- General Electric appoints new Chief Engineer for GE Aviation



Jun 28, 2011

Gary D. Mercer, 52, has been named VP and Chief Engineer for GE Aviation (NYSE:GE). Mercer will provide leadership for flight safety and airworthiness, serving as the key interface with our external customers that govern flight safety and certification processes. Mercer has been with GE for 26 years. He began his career with Aviation as a Design Engineer for Military and Commercial Structures before moving to GE Energy where he held several key leadership positions including Senior General Manager Engineering for Oil & Gas and Renewables before rejoining the Aviation business in 2011.

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Nissan Could Delay Start of U.S. Leaf Production

- Nissan Could Delay Start of U.S. Leaf Production



Jun 14, 2011

Nissan (PINK:NSANY) may be forced to delay the start of U.S. production of its Leaf electric car due to the disruption caused by March's earthquake in Japan, Hideaki Watanabe, VP in charge of Nissan's global Zero Emission Vehicle business unit, tells the Detroit News. The executive says many timetables have been thrown off by the March 11 quake, but adds that it is too early to estimate how long of a delay there may be for U.S. Leaf production.

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Caterpillar and GE investigation for price fixing

- Caterpillar and GE investigation for price fixing



May 31, 2011

EU regulators said they had reason to believe Caterpiller and GE may have violated price fixing rules. Both companies said on Monday that European Commission antitrust officials conducting a probe of possible collusion among producers of industrial piston engines had inspected them last week. Caterpillar and GE confirmed that their offices had been raided, and said the company is fully cooperating with officials. The dawn raids occurred on May 25th, and are the first step in probes that could potentially result in fines of up to 10% of yearly revenues.

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GE Capital Sells 49.77% Stake in Banco Colpatria

- GE Capital Sells 49.77% Stake in Banco Colpatria



May 26, 2011

GE Capital, the financial services arm of General Electric Co (NYSE:GE) sold its 49.77% stake in Banco Colpatria of Colombia to its joint-venture partner, Mercantil Colpatria.

Bill Cary, Chief Operating Officer of GE Capital, said, "This is a good deal for GE, and furthers our objective of reducing the overall size of GE Capital, we have enjoyed working with Banco Colpatria's world-class management team to successfully grow the business over the past four years. We believe this transaction will be positive for the Bank which has excellent prospects for future growth."

The multinational conglomerate did not disclose the terms of the deal. Subject to regulatory approval and other conditions, the deal is expected to complete in Q2.

The sale is part of GE's effort to shrink GE Capital, which suffered large losses during the financial crisis.

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Fortune Magazine releases the Fortune 500 list with Wal-Mart Taking the Top Spot

Fortune Magazine releases the Fortune 500 list with Wal-Mart Taking the Top Spot



May 5, 2011

This morning, the year's Fortune 500 list was released by Fortune magazine. The list is compiled by the publication based on revenues of the previous year.

On top was Wal-Mart again for the second year in a row, with revenues over $421 million dollars. The retail giant has topped the list eight times in the last decade, and has stayed in the top ten since 1995. It beat out Exxon Mobil, the oil giant that held the top spot two years prior.

Coming in at number 3 and 4 are energy companies Chevron and ConocoPhillips, respectively. Both had a great year in profitability, with both companies making over 80% more than in 2009.

Fannie Mae came in at number 5, up from number 81 the previous year, mostly due to the new accounting rules the company put in place. Right behind it is General Electric even after the reactor problems the company had during the nuclear crisis in Japan. Their spot is due to the possibility of a $53 billion dollar plan for a high-speed rail project awaiting the approval of Congress.

And rounding out the top ten were Berkshire Hathaway, General Motors, Bank of America Corp., and Ford Motor.

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PG&E Posts Weak Q1 Results, Lowers 2011 Guidance

PG&E Posts Weak Q1 Results, Lowers 2011 Guidance



May 4, 2011

Pacific Gas & Electric Corporation (NYSE:PCG) reported Q1 EPS of $0.58 ex-items, missing the consensus estimate for $0.81 per share. Revenues for the quarter grew 3.5% year-over-year to $3.60 billion, just ahead of the consensus estimate for $3.59 billion.

PG&E Corporation Senior Vice President and Chief Financial Officer Kent Harvey said, "We are disappointed in the results for the quarter. Given the results in the first quarter and our outlook for the year, we believe it's necessary to lower guidance for 2011 earnings per share from operations. In addition, the increased scope of gas pipeline safety-related work we now have planned for the year will further impact our 2011 GAAP earnings. As a result, we have decided not to increase the common stock dividend during 2011."

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Nissan Leaf wins World Car of the Year

Nissan Leaf wins World Car of the Year



Apr 21, 2011

The World Car Awards has a new winner. The Nissan Leaf takes home the top honor as the 2011 World Car of the Year at the The New York auto show. The electric car beat out it's two top competitors: the Audi A8 and BMW 5-series and was also runner up for the World Green Award. That top honor however was given to the Chevy Volt. Those judging the World Car Awards said that the Nissan Leaf is the gateway to a brave new electric world with it's zero emissions and car-like performance for just under $35,000.

Boeing Partners with South Carolina Electric & Gas on Solar Units

Boeing Partners with South Carolina Electric & Gas on Solar Units



Apr 19, 2011

A new partnership for Boeing (BA) will enable the American multinational aerospace and defense corporation to operate as a 100% renewable energy site. Boeing said today that has entered into an energy partnership with South Carolina Electric & Gas. Under this arrangement, South Carolina Electric & Gas will install a solar generation system and dedicate the power from the system to the Boeing site. The solar generation system is comprised of thin-film solar laminate panels and will be installed on the new Boeing 787 Final Assembly building roof. The installation will be the largest in the Southeast by production capacity, and the sixth largest in the U.S., providing up to 2.6 megawatts of electrical power for the site. According to the company that's enough to power approximately 250 homes. Shares for Boeing are up 0.37% to $73.06.

Ford Taking Test Fleet of Electric Vehicles to China Later this Year

Ford Taking Test Fleet of Electric Vehicles to China Later this Year



Apr 18, 2011

Ford Motor Co. (F) said on Monday it is taking a test fleet of electrified vehicles to China later this year, including the Fusion hybrid.

On the eve of the Shanghai auto show, the car maker unveiled three electric vehicles: the new Focus all-electric vehicle, the C-MAX Energi plug-in hybrid, and the Fusion hybrid.

Joe Hinrichs, head of Ford's Asia-Pacific and African operations, said in a statement, "With China aiming to go green on the road with new-energy vehicles, the country is the perfect platform to showcase Ford's advanced technologies in the electrification plan."

Jubilant Reaches TD at Golaghat Well

Jubilant Reaches TD at Golaghat Well

Monday, April 18, 2011
Jubilant Energy N.V.

Jubilant announced that the P-16-1 well, which was spudded on March 20, 2011 in the Golaghat Block (AA-ONN-2003/1), reached a total depth of 1625 meters. The well encountered a granitic basement from 1555 meters onwards.

The well tested a NE/SW fault prospect and was drilled through all the potential reservoirs that were previously identified at this location. Based upon drilling, electric logs and MDT data, no hydrocarbons were encountered in the well. The well is thus being prepared to be plugged and abandoned.

The drilling of the well was completed under budget and without any health, safety and environmental incidents.

The execution of the remaining work program comprising of six additional exploratory wells will be finalized on obtaining forestry land approval.

Jubilant through its subsidiary, Jubilant Oil and Gas Pvt Limited, holds a 10% participating interest in this block and is the Operator. Jubilant Securities Private Limited (JSPL), a company in the wider Jubilant Bhartia Group, also holds 35% participating interest in this block. Jubilant, through its subsidiary, Jubilant Energy (Nelp-V) Pvt Limited, has entered into a business transfer agreement dated 1 April 2007 with JSPL for acquiring its entire stake in the block. This transfer is subject to, inter alia, the parties obtaining consents from various third parties, including the management committee under the relevant Production Sharing Contract and the Government of India.

The other partners in the acreage are Gujarat State Petroleum Corporation Limited with 20% and GAIL India Limited with 35% Participating Interest.

Ford Working With Numerous Cities To Ensure Readiness For Electric Vehicles

Ford Working With Numerous Cities To Ensure Readiness For Electric Vehicles



While Ford Motor Co (NYSE:F) is gearing up for the launch of its new Focus Electric car later this year and C-MAX Energi plug-in hybrid in 2012, the company is also working with cities and utility partners to identify key infrastructure building blocks that will enable metropolitan areas to be ready for electric vehicles.

Some of the cities Ford is already working with include New York, Chicago, Los Angeles, Houston, Washington D.C., San Francisco, and Boston.

Some of the key actions Ford has identified in working with cities include: utility rate structures that encourage nighttime (off-peak) charging, a streamlined permitting and inspection process to support infrastructure installation, integrated advisory committees representing a wide variety of groups, urban planning to optimize charge locations, and finally infrastructure incentives to offset a portion of customer costs.

Mike Tinskey, Ford's manager of Vehicle Electrification and Infrastructure said, "As more and more electric vehicles come to market, it's incredibly important that cities develop action plans including infrastructure development and permitting solutions to ensure these vehicles are a viable solution for citizens. Ford continues outreach with cities across the country to spread best practices and work with multiple partners including local utilities, auto manufacturers, technology companies and others to support a successful integration of electric vehicles."

Sempra Generation to supply 21 MW of wind energy to Maui Electric

Sempra Generation to supply 21 MW of wind energy to Maui Electric



Sempra Generation has entered into a 20-year contract to sell 21 megawatts of wind energy to Maui Electric Company from the Auwahi Wind project on the Ulupalakua Ranch in the southeastern region of Maui. Construction on Auwahi Wind is expected to begin in early 2012, creating approximately 150 local construction jobs at peak and about five positions to operate the facility.

The project is currently undergoing an extensive environmental review by Maui County, and state and federal agencies.

The contract between Maui Electric Company and Sempra Generation is subject to approval by the Hawaii Public Utilities Commission.

General Electric to Offer Gas Turbines to Tokyo Electric Power

General Electric to Offer Gas Turbines to Tokyo Electric Power



General Electric (GE) will offer gas turbines to Tokyo Electric Power Co. to ease energy shortages in the Japanese capital and surrounding area, Chief Executive Office Jeffrey Immelt told reporters in Tokyo after meeting with Japanese Trade Minister Banri Kaieda, Bloomberg reports.

Aztec Encounters Formations at Tx. Well

Aztec Encounters Formations at Tx. Well

Thursday, March 31, 2011

Aztec O&G Inc.

Aztec announced the Welder A-37 was drilled to a total depth of 6,208 feet and encountered multiple formations.

"Utilizing sidewall cores to further evaluate the well's electric log, there appear to be four to five zones of commercial interest in the probable to possible categories," stated Waylan Johnson, President of Aztec Oil & Gas, Inc. Furthermore, he stated, "The A-37 is our second successful well in the area, and we are working on several more ideas in San Patricio County. This county is typical of the type of area in Texas where we are afforded the opportunity to find sizeable reserves shallower than 6,500 feet."

Several Texas Independent Producers have joined Aztec as Partners in the San Patricio County area drilling as Aztec continues its dedication to drilling low-risk, shallow oil wells in Texas.

General Motors to develop Buick plug-in hybrid

General Motors to develop Buick plug-in hybrid



General Motors (GM) is developing a Buick using the Chevrolet Volt's plug-in hybrid technology, reports Bloomberg. According to two people familiar with the project, designers are working on a version of the hybrid Opel Ampera scheduled for sale in Europe this year. The Buick version would go on sale in 2013 if it receives final approval.