FuelCell’s Big Order, Exxon Terminals Operating Normally: Energy Business Review
Seadrill Limited (NYSE:SDRL) signs a memorandum of understanding to sell rigs to the Malaysian oil and gas service supplier SapuraKencana Petroleum at a price of $2.9 billion, as part of a merger deal for the firms’ rig operations. The former will receive a minimum of $350 million in new shares in SapuraKencana plus two seats on its board.
TransCanada Corporation (NYSE:TRP) announces that its Mexican subsidiary has won a contract to construct, own and operate the new El Oro-to-Mazatlan natural gas pipeline in Mexico. This new deal, worth about $400 million, is subsequent to last week’s news of a $1 billion contract for another pipeline in that country.
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FuelCell Energy (NASDAQ:FCEL) shares jump after the company receiving its largest ever order, a $181 million booking from its South Korean partner Posco Energy (NYSE:PKX), for 121.8 megawatts of fuel cell kits and services. Additionally, Posco signed a licensing agreement to make Direct FuelCell power plants in South Korea and then sell them throughout Asia. The company will pay its partner $26 million for the manufacturing rights and then royalties.
Exxon Mobil Corporation (NYSE:XOM) reports that its three terminals in Massachusetts and Rhode Island are operating normally and that it neither owns nor operates gas stations, fuel terminals or refineries in the areas affected by the hurricane.
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