• 2 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 2 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 2 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 2 days Schlumberger Warns Of Moderating Investment In North America
  • 2 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 2 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 2 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 2 days New Video Game Targets Oil Infrastructure
  • 2 days Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 2 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 3 days British Utility Companies Brace For Major Reforms
  • 3 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 3 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 3 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 3 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 3 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 3 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 3 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 4 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 4 days Russia, Saudis Team Up To Boost Fracking Tech
  • 4 days Conflicting News Spurs Doubt On Aramco IPO
  • 4 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 5 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 5 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 5 days China To Take 5% Of Rosneft’s Output In New Deal
  • 5 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 5 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 5 days VW Fails To Secure Critical Commodity For EVs
  • 5 days Enbridge Pipeline Expansion Finally Approved
  • 5 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 6 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 6 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 6 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 6 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 6 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
Alt Text

Aggressive OPEC Pushes Oil Prices Up

Oil prices are once again…

Alt Text

A New Oil Crisis Is Developing In The Middle East

As Iraqi-Kurds prepare to fight…

Alt Text

Why U.S. Crude Exports Are Booming

U.S. crude oil exports are…

Ventures in China, Japan to Spur Power Transmission

Ventures in China, Japan to Spur Power Transmission

Two major ventures for power transmission and distribution systems got off the ground last week in an indication that “energy freeways” are about to take off in a bigger way than anyone had imagined—and faster.

One of those ventures is between Toshiba Corp and Tokyo Electric Power Co. (Tepco) and another between General Electric (GE) and China’s HD Electric.

The Toshiba-Tepco venture began on 2 September, and will see Toshiba with an 85.1% stake, with Tepco taking the rest. The idea is to hit the markets hard outside Japan, using Toshiba’s power transformation and power grid solutions technology and Tepco’s grid-planning experience and operational know-how. They are eyeing key markets such as India, Latin America and South Asia.

Related article: What a World Without Nuclear Looks Like

Then we have the new partnership announced by GE and XD Electric, announced in May 2012 and finally realized last week. The two will develop and market high-voltage transmission and distribution technology, eyeing a bigger market share than Toshiba and Tepco—worldwide.

This deal will see GE acquire 15% of China’s XD for $552.2 million and the venture will give GE access to XD’s high-voltage power equipment to complement its grid-automation capabilities and its global energy presence.   

While the goal is the global market, the venture will also offer customers in China GE’s localized grid automation equipment and services. It is in China, after all, where much of the transmission and development growth is expected to continue as China represents around 25% of projected global expansion for the sector.

Related article: South Africa Scrambles for Any and All Energy Sources

Overall, the plan is to meet growing demand in emerging economics under demographic and urbanization strains. Big industry—especially oil and gas, mining and petrochemicals--in emerging countries will welcome the deal as well because it will aid them in energy-intensive production boosting.

"Our investment in XD Electric is core to our long-term strategy to build a world-class T&D franchise and become a leading provider of grid modernization solutions. By combining the strengths of both GE and XD Electric, we will offer full-scope solutions to customers in the rapidly growing T&D industry," Dan Janki, president and CEO of GE Energy Management, said in a statement. "The partnership will enhance our ability to compete in fast-growing regions such as China where XD Electric has a strong presence."

The market will like these ventures, especially when considering that transmission and distribution is a $100 billion industry with explosive growth potential.

By. Charles Kennedy of Oilprice.com




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News