Ausra opens first new solar thermal plant in California in 20 years — In a ceremony presided over by California’s action star Governor Arnold Schwarzenegger, Ausra has commenced operation of its Kimberlina solar thermal energy plant in Bakersfield. It is the first new solar thermal plant built in the state in nearly 20 years. The plant will generate 5 megawatts. “This next...
Energy Industry Archive
October 2008
The Company: Foundation Coal Holdings, a primary producer of steam coal to United States utilities for use in generating electricity. The Filing: FORM 8-K filed with the SEC on October 22, 2008. The Finding: Based on the current operating environment, Foundation Coal is cutting its full-year 2008 and 2009 EBITDA guidance to a range of $300 to $320 million and to $500 to $625 million, resulting...
StatoilHydro strikes more oil and gas in North Sea — Back on Oct. 15, BNET Energy reported that StatoilHydro was given the green light to further explore in the North Sea. Today the company announced it had encountered oil and natural gas in the Pan/Pandora prospect, south of the Visund field. It is StatoilHydro’s 20th discovery on the Norwegian Continental Shelf this year. Talk...
The Company: Weatherford International, an oilfield services company. The Filing: FORM 8-K filed with the SEC on October 20, 2008. The Finding: Against a backdrop of an 11 percent increase in rig count activity, Weatherford International reported third-quarter sales of $2.5 billion, up 29 percent from the same period last year. The company’s large North American onshore drilling...
Will Iran, Russia, Qatar form OPEC-style natural gas cartel? — Iran, Russia and Qatar have agreed to an initiative that could one day lead to a natural gas version of the oil cartel, OPEC. Iran’s Oil Minister Gholam Hossein Nozari discussed plans with Qatar’s energy minister, Abdullah Bin Hamad al-Attiya, and the head of Russia’s gas monopoly Gazprom, Alexei Miller, in...
The Company: Evergreen Solar, a manufacturer of String Ribbon solar power products. The Filing: FORM 8-K filed with the SEC on October 16, 2008. The Finding: Evergreen Solar signed two new long-term sales contracts totaling more than 160 MW last week, extending the company’s total contractual backlog to more than one-gigawatt (spanning over the next five years). The solar panels for...
Largest thin-film solar plant opened — Konarka Technologies says it has opened the world’s largest — 250,000 square feet — roll-to-roll flexible thin film solar manufacturing plant in New Bedford, Massachusetts. The company is ramping up to begin shipping its “Power Plastic,” thin, lightweight photovoltaic material in commercial quantities. [Source:...
The Company: Schlumberger Ltd., the world’s largest oilfield services company. The Filing: FORM 8-K filed with the SEC on September 17, 2008. The Finding: Although Schlumberger has limited direct credit market exposure, as it enters the fourth quarter, the global banking crisis will likely have an effect on demand for its oilfield service activities, though Chairman and Chief Executive...
Sherritt cancels offshore Cuba operation — Canada’s Sherritt has dropped its oil-production contract with Cuba to develop oil resources in the Gulf of Mexico, saying they weren’t “worth continuing.” Sherritt had been developing four blocks in the Exclusive Economic Zone off the northwestern coast of Cuba. Repsol-YPF, StatoilHydro, Oil and Natural Gas Corporation, Petronas,...
The Company: Peabody Energy, the world’s largest coal company, fueling approximately 10 percent of all U.S. electricity generation. The Filing: FORM 8-K filed with the SEC on October 16, 2008. The Finding: Despite the ongoing credit crisis and uncertainty about economic growth, Peabody Energy said it sold 66 million tons of coal in its third-quarter 2008 ended September 30, up six...
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- Clinton: Energy Efficiency Is Not Sexy, But Important Low-Hanging Fruit
- Trina Solar: Still Struggling to Bring Manufacturing Costs in Line With Falling Prices
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