Energy Briefing: Market's Leading Companies Fueling Energy Sector: GEI Global Energy, ConocoPhillips, General Electric, Newfield Exploration, Cheniere Energy
CORAL SPRINGS, Florida, September 23, 2013 /PRNewswire/ --
FinancialNewsMedia.com issues news updates for today's leading energy companies in the basic materials sector: GEI Global Energy Corp (OTCQB: GEIG), ConocoPhillips (NYSE: COP), General Electric Company (NYSE: GE), Newfield Exploration Company (NYSE: NFX) and Cheniere Energy, Inc. (NYSE: LNG).
GEI Global Energy Corp (OTCQB: GEIG) has entered into a LOI to build the World's Largest Fuel Cell Power Plant with an estimated Gross Dollar Value Estimated at $470 Million in Revenue and $94 Million in Profit. GEI Global Energy announced today that the Company has entered into a Letter Of Intent (LOI) with Owl Eco Group, "the developer" to build a 100 Megawatt Power Plant located in Western Pennsylvania, within the massive Marcellus shale natural gas fields. Owl Eco Group would like to generate electrical power using GLOBAL ENERGY CORP'S innovative technology and will include a dedicated natural gas well drilled specifically for GEI. The project will be comprised of 1,000 individual 100 kW natural gas fueled HTPEM fuel cell power systems with a project budget of approximately $470 million dollars with an estimated $94 million in profit to GEI GLOBAL ENERGY CORP.
To read the entire press release, please go to http://www.fnmprofiles.com/profiles-geig.php
Ron Monat, Director Of Renewable Energy Group for COMMERCIAL REAL ESTATE SERVICES (CBRE) (NYSE: CBG) has expressed his Company's interest for the project in the form of a Letter Of Intent to Owl Eco Group. The Letter Of Intent to Owl Eco Group states CBRE is interested in providing all of the necessary funding for the project. CBRE is the world's largest commercial real estate services and investment firm. (In terms of 2012 revenue) - CBRE offers project financing via privately-placed bonds with institutional investors to provide a loan or lease structure offering financing at "below market".
ConocoPhillips (COP) explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids on a worldwide basis. Its portfolio includes assets in North America, Europe, Asia, and Australia; growing North American shale and oil sands businesses; various international development projects; and a global exploration program.
General Electric Company (GE) News: Marking some of its largest power agreements in company history, GE (GE) today announced three contracts totaling approximately $2.7 billion with SPE, an affiliate of Sonelgaz-Algeria's national electricity and gas company. GE is to supply proven and reliable heavy-duty gas turbine combined-cycle and aeroderivative gas turbine technology for nine power plants. The addition of nearly 9 gigawatts (GW) of electricity will help strengthen Algeria's power sector to help meet the growing requirements of the country. The three agreements include six new combined-cycle power plants that will ultimately increase Algeria's generating capacity by 70 percent adding more than 8 GW of electricity; two fast-track projects that add 528 megawatts (MW) of capacity for this summer's peak demand; and a new simple-cycle power plant to add 370 MW to Algeria's electricity grid.
Newfield Exploration Company (NFX), an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. Its areas of operation include the Mid-Continent, the Rocky Mountains, and onshore Gulf Coast, as well as Malaysia and China. The company has proved reserves of 3.4 trillion cubic feet equivalent.
Cheniere Energy, Inc. (LNG) announced Friday after the markets closed that one of its wholly owned subsidiaries, Cheniere Energy Partners LP Holdings, LLC ("Holdings"), has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") relating to its proposed initial public offering of common shares. Holdings' only business will consist of owning limited partner units of Cheniere Energy Partners, L.P. (NYSE MKT: CQP) ("Cheniere Partners") currently owned by Cheniere.
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