TNK-BP partners reject BP’s Rosneft olive branch

BP’s partners in Russian joint venture TNK-BP have rejected a peace proposal by the British oil major to involve them in talks on joining a disputed BP alliance with Russia’s Rosneft. The TNK-BP board met in Paris on Saturday to consider a new proposal from BP’s representatives concerning a partnership with Rosneft, Russia’s top crude producer. “A proposal by BP’s nominated directors which would have allowed TNK-BP... Read more..

Suncor Energy reports oil sands production numbers for December 2010

Suncor Energy Inc. reported today that the company’s oil sands production during December averaged approximately 323,000 barrels per day (bpd). The company achieved its oil sands production target for 2010 with annual production averaging approximately 283,000 bpd. Production numbers include upgraded sweet and sour synthetic crude oil and diesel, as well as non-upgraded bitumen sold directly to the market, from all Suncor-operated facilities.... Read more..

Lucas Energy Enters Into $6 Million Stock Offering

Lucas Energy, Inc. , an independent oil and gas company, has executed agreements to raise almost $6 million from the sale of approximately 2.5 million units in a registered direct offering at a price of $2.38 per unit, based on the December 23, 2010 closing price. Investors included a select group of institutions and Hall Phoenix Inwood Ltd., an affiliate of Hall Phoenix Energy, LLC. Hall Phoenix Energy is a joint venture partner with Lucas in the... Read more..

Exelon Generation Formally Integrates AmerGen Assets Into Exelon Nuclear

Exelon Generation officially integrated the nuclear generation assets held by its AmerGen Energy Company LLC subsidiary into Exelon Nuclear and dissolved the AmerGen legal entity. The Nuclear Regulatory Commission approved the formal transfer of the operating licenses for these facilities to Exelon Generation on Dec. 23, 2008, which was a key step in the final integration process. “The formal integration of AmerGen into Exelon Nuclear is an... Read more..

Green Star Alternative Energy and Notos Sign Joint Venture Agreement

Green Star Alternative Energy, Inc. announces a joint venture with Notos d.o.o. – Serbian wind energy and power trading company – and Sirius Regulus d.o.o., Serbian real estate holding company. Many months of due diligence and negotiations have culminated in a strategic partnership that will give Green Star 51% ownership of all energy assets developed within this alliance. Due to the complex nature of foreign ownership of companies within the... Read more..

ReneSola Announces Divestment of Henan Polysilicon Joint Venture

ReneSola Ltd, a leading Chinese manufacturer of solar wafers, today announced that it has sold its 49% equity interest (the “Divestment”) in Linzhou Zhongsheng Semiconductor Silicon Material Co., Ltd.. In August 2007, ReneSola and Linzhou Zhongsheng Steel Co., Ltd. established the Joint Venture to engage in virgin polysilicon production in Linzhou, Henan Province, China. The Company invested approximately RMB103 million for an equity interest... Read more..

Thorium Power Ltd. & Punj Lloyd Group Sign Memorandum of Understanding

Thorium Power Ltd., the leading developer of non-proliferative nuclear fuel technology and provider of comprehensive advisory services for emerging nuclear programs and Punj Lloyd Group, the diversified engineering, procurement & construction (EPC) conglomerate, today announced the signing of a Memorandum of Understanding (MOU). The MOU establishes a framework to explore and identify the strengths of Thorium Power in areas of the deployment of... Read more..

CHS Success in 2008 Founded on Vision, Stability

Leaders of CHS Inc., one of the nation’s leading energy, grains and foods companies, attributed strong 2008 performance to maintaining financial stability and disciplined-growth during a period of unprecedented market volatility. “After five consecutive years of record results — the combination of our own hard work, growth and what the market has handed us — we must be realistic and ready to respond,” said John Johnson,... Read more..

Constellation Energy Receives Unsolicited Proposal From Électricité de France

Constellation Energy confirmed that it has received an unsolicited proposal from Électricité de France (EDF). The main components of EDF’s proposal are: * EDF would purchase a 50% ownership interest in the nuclear generation and operation business of Constellation Energy (excluding Constellation Energy’s existing interest in the UniStar joint venture) for $4.5 billion, subject to certain adjustments; * EDF would make an immediate $1... Read more..

Constellation Energy Receives Unsolicited Proposal From Électricité de France

Constellation Energy confirmed that it has received an unsolicited proposal from Électricité de France (EDF). The main components of EDF’s proposal are: * EDF would purchase a 50% ownership interest in the nuclear generation and operation business of Constellation Energy (excluding Constellation Energy’s existing interest in the UniStar joint venture) for $4.5 billion, subject to certain adjustments; * EDF would make an immediate $1... Read more..