News Archive for Oil and Gas News

Eni and Enel complete sale to Gazprom of 51% of SeverEnergia

Wednesday, Sep 23, 2009

Today,  Gazprom completed the acquisition of the 51% stake in SeverEnergia from Eni and Enel, in line with what was previously established by the agreements announced in April 2007 and May 2009. SeverEnergia owns 100% of Arcticgaz, Urengoil and Neftegaztechnologia. These companies own licences for the exploration and production of hydrocarbons with overall oil and gas reserves estimated at 5 billion barrels of oil equivalent. Following the closing of the deal, Eni’s shareholding decreases from 60% to 29.4%, and Enel’s holding reduces from 40% to 19.6%.Gazprom will pay approximately 1.6 billion US dollars for the 51% stake in SeverEnergia, giving Eni 940 million dollars and Enel 626.5 million dollars. Gazprom has already paid 384 million dollars (paying Eni 230.3 million and Enel 153.5 million) and will pay the second tranche by March 2010.

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GE Energy’s 2.5xl Wind Turbine Now Offers Extreme Cold Weather Capabilities for Challenging Applications in North America and Europe

Wednesday, Sep 23, 2009

GE Energy’s most advanced wind turbine, the 2.5xl, is now available with a Cold Weather Extreme (CWE) package. The addition of the CWE package ensures that the 2.5xl wind turbine can operate in temperatures as low as -30°C, and in survival mode without operation, at temperatures as low as -40°C.
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