Latest Power News

Entergy purchased the 583-MW natural gas-fired plant in 2011 for $346 million and now plans to sell the plant to the Carlyle Power Partners’ subsidiary for $490 million.

Engie and Mitsubishi Heavy Industries Ltd. signed a memorandum of understanding to develop their collaboration along the energy value chain and technology.

As part of the reorganization plan, Patriot coal will sell a majority of its operating assets to Blackhawk Mining LLC and sell substantially all of its remaining assets and liabilities to an affiliate of Virginia Conservation Legacy Fund Inc.

Westinghouse has announced it has submitted a project proposal to the Department of Energy (DOE) for a Lead-Cooled Fast Reactor (LFR) intended to make nuclear power generation safer and more flexible.

The 1,100-MW facility will use a local supply of natural gas in southern Columbiana County where South Field Energy plans to develop the plant on less than 20 acres.

The Henry Hub is the pricing point for natural gas futures contracts traded on the New York Mercantile Exchange (NYMEX).

The new panels are designed to generate more power per square foot and produce more clean energy than any other panel on the market.

AZZ Inc. (NYSE: AZZ) will refurbish valves at a nuclear power plant in Mexico for a contract worth more than $15 million.

The company will sell the 704-MW Ironwood combined-cycle natural gas-fired power plant to TransCanada Corp. (NYSE, TSX: TRP) for $654 million. Talen expects to repay $42 million in debt with the plant when the deal closes.

Latest Oil & Gas News

The US House approved, by a 261-159 vote, a bill to repeal a 40-year ban on exporting domestically produced crude oil. Balloting ran largely along party lines as 235 Republicans supported HR 702 and 153 Democrats opposed it. The vote came days after the White House announced that the measure would be vetoed if it reached US President Barack Obama’s desk.

Congress should let the US government go idle for lack of funding if that’s what’s necessary to stop the Obama administration from creating an energy crisis.

The US drilling rig count dropped 14 units during the week ended Oct. 9 to 795, remaining at its lowest level since May 3, 2002, according to data from Baker Hughes Inc.

Canada’s National Energy Board says a decade-long shift away from conventional natural gas resources toward tight gas production has been led by large midsized producers.

Petroleum and natural gas systems remained the second-largest greenhouse gas emitting group as the US Environmental Protection Agency released its 2014 summary of reported emissions on Oct. 6. But it quickly became hard to determine how much of the nearly 3.5% increase in the group’s total emissions increase from 2013 was because the number of reporting facilities had grown 10.3% year-to-year.

PT Medco Energi Internasional TBK, Jakarta, has agreed to acquire Lundin Petroleum AB’s Indonesian oil and gas assets for aggregate cash consideration of $22 million. The deal is effective Oct. 1.

Statoil ASA let contracts for platform jackets for the Johan Sverdrup development offshore Norway to Kvaerner Verdal and Dragados Offshore SA.

A subsidiary of Delek Group, Tel Aviv, has signed an agreement to acquire new shares representing 19.9% of Ithaca Energy Inc., Aberdeen, for $66 million.

Qatar Petroleum (QP) has let a contract to McDermott International Inc. to engineer, procure, construct, and install four wellhead jackets for the redevelopment of Bul Hanine oil field offshore Qatar.

Light, sweet crude oil prices for November delivery gained more than $1/bbl to close at $49.43/bbl on the New York market Oct. 8 after having briefly touched a trading session high of $50.07/bbl. Meanwhile, the Brent crude oil contract for November delivery closed above $53/bbl.