|Another leading cable manufacturing news story today is from Nexans who have signed a 5 year agreement, worth over 60 Million Euros, with on eof Canada’s Leading Utility Company’s, SaskPower to supply them wire and cable products which will be manufactured in teh Naxans plant in Canada. For teh full press article please read on:
Nexans signs a 5–year agreement worth around 60 million euros with one of Canada’s leading utility companies
Nexans and SaskPower, the principal supplier of electricity in Saskatchewan, Canada, have extended their strategic business partnership by signing a five-year agreement worth up to 60 million euros for the supply of wire and cable products manufactured locally in the Nexans Weyburn plant in southeastern Saskatchewan.
Under the agreement that took effect on January 1, 2007, Nexans is providing SaskPower with 56 different types of conductor used to distribute electricity throughout Saskatchewan. The products supplied by Nexans include bare copper wire, overhead conductors and underground cables, as well as cables for street lights.
“Long-term supply agreements allow SaskPower to obtain stable pricing and a secure supply of conductors,” said John Nilson, Minister Responsible for SaskPower. “This business partnership has brought economic, employment and other benefits to the province, while allowing Nexans to plan its business more efficiently so that they remain a cost-effective supplier.”
The Nexans factory in Weyburn celebrated its 50th anniversary in 2006 and throughout its life has always provided SaskPower with cables that help it to achieve its aim of supplying electricity that is safe, reliable and sustainable.
“When SaskPower started to electrify rural Saskatchewan in the 1950s the cable came from Weyburn, and today the local community remains the source of most of the conductors needed by the utility,” said Dr. Gordon Thursfield, Nexans’ Executive Vice President of North America. “By expanding its market in Western Canada and the United States, the plant has required several expansions and now employs more than 130 people full-time.”
“Having a strategic business relationship with a Saskatchewan supplier provides important benefits,” said Pat Youzwa, President and CEO of SaskPower. “It means that SaskPower is a high-priority customer and receives deliveries when we need them, meanwhile saving money by keeping our inventories and transportation costs low.”
Since SaskPower’s Quality Assurance and Supplier Development program began 23 years ago, SaskPower has purchased more than 3.3 billion euros in goods and services in the province.
|Today we feature a major press release in the Cable & Wire Industry. General Cable who are recognozed as one of the leading power cable manufacturers in the world have purchased NSW from Corning. Corning who raised a lot of eyebrows in the Industry when they acquired NSW, feel the time is not right to sell it on. For the full article please read on.
General Cable acquires NSW from Corning
General Cable Corporation announced Friday that it has agreed to acquire Norddeutsche Seekabelwerke GmbH & Co. KG (NSW), located in Nordenham, Germany from Corning Incorporated. The transaction is expected to close today Monday, April 30, 2007. NSW had revenues of approximately $120 million in 2006. “With more than 100 years of experience, NSW has tremendous technical expertise offering complete solutions for submarine cable systems including the manufacturing, engineering, seabed mapping, project management, and installation for the offshore communications, energy exploration, transmission, distribution, and alternative energy markets,” said Gregory B. Kenny, President and Chief Executive Officer of General Cable. NSW is a leading global supplier of offshore communications, power and control cables as well as aerial cables for power utility communication and control networks.
NSW has been in operation since 1899 and is situated in an ideal location with a deep-sea pier capable of loading cable laying ships directly from their production facility on the North Sea in northern Germany. NSW has manufactured and installed submarine projects throughout the world, including one of the world’s longest hybrid submarine communications cable systems extending 8,600 km linking 15 countries.
Offshore cable demand is strengthening driven by offshore oil and gas exploration, renewable energy, as well as traditional power requirements to inter-coastal and island areas. Also, after many years of maintenance level spending by global telecommunications carriers for submarine fiber optic cable, network capacity utilization rates have begun to increase. With global demand for voice, video, and data increasing, telecommunications carriers are now looking to reinvest and add capacity in the global submarine network. “This acquisition brings the critical technology to allow us to fully address one of the fastest growing high value-added markets for energy, control and communication cables and systems, with an addressable market well in excess of $1 billion. We expect this acquisition to be modestly accretive in its first full year of operations,” Kenny said.
NSW is also a market leader for a variety of specialty products including specialized high-end winding wire for high voltage motor applications and specialty extrusions for various filtration and waste water treatment applications.
“General Cable is very pleased to have the NSW team join our global organization. NSW’s highly regarded technology platform and brand name combined with General Cable’s vast array of complementary products, marketing and logistics strengths will provide a more complete solution which will be sold globally to these expanding markets,” said Domingo Goenaga, President and Chief Executive Officer, General Cable Europe.
With nearly $3.7 billion of annual revenues and over 8,000 employees, General Cable is a global leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, and communications markets. Visit our website at http://www.generalcable.com.
|Today we feature another news story about Alcan. This time it is about their first quarter earnings being at their highest level ever of $591 million. For the full article please read on:
Alcan´s earnings white-hot
Alcan Inc. will vigorously defend its low-cost hydroelectric power assets, which are a key competitive advantage, the Montreal-based giant said yesterday as it reported a 30-per-cent hike in first-quarter earnings to a record $591 million U.S.
Higher aluminum product prices, aided by increased demand from the aerospace and construction sectors, helped generate net income of $1.60 per share for the quarter, compared with $1.21 per share, or $453 million, a year earlier, said the company, which reports all figures in U.S. dollars.
Alcan’s “power position advantage” will be “vigorously protected” and used, in combination with other strengths, to aggressively build the world’s second-largest aluminum company, chief executive officer Richard Evans told a conference call with analysts and the media.
Discussing Alcan’s “major breakthrough” in a controversy over the company’s power rights in British Columbia – which includes its desire to sell excess power at market rates – Evans described B.C. power rights and assets as “very valuable.”
“If we were to value that asset on a replacement cost basis, I think most estimates would clearly be above $2 billion,” Evans said.
Alcan spokeswoman Anik Michaud said Evans was referring to the Kemano hydroelectric power station, which produces an average of 790 megawatts of power a year, with a range of between 700 and 900 megawatts.
If and when the $2-billion expansion of Alcan’s Kitimat smelter is completed and running at full capacity – it was originally pegged for 2013 – it will use between 670 and 690 megawatts.
The current smelter uses about 550 megawatts.
Last month, the B.C. Supreme Court ruled that Alcan can sell power from its Kemano plant if it wishes, dismissing a lawsuit filed by the District of Kitimat.
Yesterday, Evans said Alcan is working with B.C. Hydro to address concerns raised by the B.C. Utilities Commission – which has rejected the original deal – and hopes to resubmit its bid and receive the necessary regulatory approval.
Evans said he remains optimistic about the project.
During the conference call, Evans described Alcan’s power assets in Quebec as “also very valuable.”
In December, Alcan said it was investing $1.8 billion U.S. to modernize and expand its smelters in the Saguenay region of the province, including a $550-million pilot plant to test new technology.
Quebec offered the company a $400-million interest-free loan over 30 years, tax benefits worth $112 million and an extension of Alcan’s rights over the waters of the Peribonka River for power production.
Alcan said the agreement provides “a secure supply of approximately 2,600 megawatts of low-cost power through the year 2045.”
A Montreal Economic Institute study issued this month determined that Quebec would be far better off economically to sell the power on the export market.
Evans yesterday characterized that study as a “very simple back-of-the-envelope calculation.”
The “political/economic debate as to how to best use common resources such as hydropower” has endured for decades and will probably continue for decades, he said.
Given increasing concern over climate change and greenhouse gas emissions, hydroelectric power is a “very valuable commodity,” Evans said in response to an analyst’s question related to the value of power assets.
“We have seen the benefit of owning power in the last couple of years and we have seen it translate to our bottom line,” Evans said.
Developed and proven low-cost hydropower will be “protected vigorously as we have done in the case of B.C. and Quebec,” he said.
Alcan stock moved higher on the results, closing at $63.80, up $2.46, or four per cent, in Toronto trading
|Today we feature an interesting project news story about a Kuwaiti & Saudi group who are ready to invest uo to $2.5 billion in power, oil & gas and real estates projects over the next 5 to 7 years. For the full article please read on:
Kuwaiti-Saudi group to invest $2.5 billion in power, oil & gas and real estate sectors
A Kuwaiti-Saudi Group Midroc Tussonia (Pvt) Limited has initiated to invest $1.5 billion to $2.5 billion in Power, Oil & Gas and Real Estate sectors over a period of next five to seven years, officials said Wednesday.
Sheikh Humoud Al-Sabah President of the group informed during a meeting with Mr. Zahid Hamid Federal Minister for Privatisation & Investment while heading a delegation here on Wednesday.
Mr. Zahid Hamid assured the delegation full assistance in the completion of their projects, which were at an advanced stage. He said that the improved macro economic indicators have created investors friendly atmosphere and made Pakistan a safe haven for investors from around the globe.
Pakistan and Kuwait enjoyed very close, historic and brotherly relations, which were being further strengthened and cemented through trade and investment activities between both the countries, he stated.
The Minister informed the delegation that Pakistan accorded equal treatment and level playing field to both local and foreign investors. He further stated that liberal investment policy included 100 % foreign equity in all economic sectors, with attractive incentives like remittances of capital, profits, royalty, technical and franchise fees without obtaining permission from the government. The foreign investment was fully protected and has statutory cover under Foreign Private Investment (Promotion & Protection) Act 1976 and Protection of Economic Reforms Act 1992, he stated.
He said that total foreign investment for the first 9 months of the current financial year 2006-2007 i.e. from 1st: July 2006 to 31st March 2007 was $ 5.56 billion, 67.5% more than the amount ($ 3.32 billion) during the corresponding period last year. FDI of $ 3.86 billion was 72% higher than the amount ($ 2.24 billion) in the same period last year. Net portfolio investment of $ 1.70 billion including OGDC GDR receipts of $ 738 million was 58% higher than the amount ($ 1.08 billion) last year.
Out of the total FDI of $ 3.86 billion, $ 708 million was from China, $ 694 million from UK and $ 636 million from USA. In all these cases this is the highest level of investment ever. 37% of the FDI, or $ 1.41 billion, has gone into the Communications sector. The Financial Business sector has received $ 696 million or 18% and the Oil and Gas Exploration sector $ 420 million or 11%.
He further stated that total foreign investment during 2005-06 was $ 3.87 billion, which at the time was the highest in our history. However, the huge upsurge in FDI and portfolio investment during the current financial year show that foreign investor sentiment has been very positive and foreign investment will clearly set new records in 2006-07. This upward surge was continuing with the consistency and the continuity of the policies, he said.
He lauded the keen interest shown by Kuwaiti companies in the Privatisation Program, which he said was acknowledged by the investors as most successful in the region. He urged the Kuwait investors to benefit from the privatisation opportunities, which were broad, based and included opportunities in every sector.
The basic thrust in privatisation came under the present government of President General Pervez Musharraf during the past seven years together with the economic reforms by the then Finance Minister and now Prime Minister Shaukat Aziz during the past seven years when more than US $ 6 billion sales proceeds were realized, which was 87 % of US $ 7 billion received during 15 years through the sale of 163 public sector entities, he added.
The leader of the delegation Sheikh Hamood Al Saba appreciated Pakistan economic policies and stated that the investors were acknowledging them. He expressed that co-operation in all fields especially in trade, economic and investment would grow further. While giving an over view of their upcoming projects Sheikh Hamood Al Saba briefed that they have acquired land to establish Wind Power Project of 100 MW near Gharoo Karachi, which would complete its first phase with 50 MW next year. The feasibility work to set up Oil/ Lube Refinery with 2000 tonnes per year capacity & Petrochemical Complex at Port Qasim has been completed and groundwork would be started in 2008, he informed. The Group is also building strategic storage for oil and petroleum products, a Naphtha Cracker, which is at initial stage and developing an industrial estate on 5000 to 6000 acres area in Sindh. Mr. Mushtaq Malik Secretary Board of Investment (BOI), Mr. Tallat Miyan Executive Director General BOI and other senior officials were also present during the meeting.
|Today we feature a manufacturing news stories from a leading Cable Manufacturer in the Middle East, MESC Specialized Cables. The press article featured a contract won by MESC for US$15 Million from Reliance Industries Limited for supplying cables to Jamnagar project” in India which is the world’s largest grassroots refinery and aromatics complexFor those of you who dont know, started as a common local manufacturing company in 1993 in line with the development and growth of the Oil & Gas Industry and built its factory in the industrial Area of Riyadh- KSA. It knew along the years how to evolve to the structure of an international one, imposing its presence day after day on the international markets as one of the most reputed brand names in the Middle Eastern Cables industry and expanded after that to have regional offices that cover the Middle East, GCC and North Africa Markets.
It holds nowadays 70% share of the KSA market and a superior percentage in the GCC countries, in addition to its 40% acquisition of Jordan New Cable Company (JNCC) in Amman – Jordan.
It has embarked in significant capacity expansions as the company spread heads its strategic vision to be come at the heart of every project and its aim has been to target productivity and quality improvements that will give optimum benefits to customers through out the region, in terms of price and quality It doesn’t stop here! It also provides Inspection Test Plans. These are prepared for individual orders and testing is carried out according to its plan. The ultimate test however, is the customers test. MESC Specialized Cables arranges inspections by customers and outside agencies on all its products.
MESC Specialized Cables continues to enhance its strategic position within the industry securing major orders both regionally and internationally. It is becoming one of the most active companies worldwide with an increasing presence in many international markets and adhering to high standards of quality and reliability.
Over the coming months we will be featuring more press on behalf of their company. To read the press article please read on:
In an unprecedented step to further demonstrate its leadership position as the world specialized cables manufacturer and supplier, MESC Specialized Cables has recently won a contract worth US $ 15 Million from Reliance Industries Limited for supplying cables to Jamnagar project” in India which is the world’s largest grassroots refinery and aromatics complex, as announced by Said Al Karram, MESC’s Regional Manager.
The agreement was signed between MESC Specialized Cables and Reliance Industries Limited in the presence of top officials from the two companies.
The Jamnagar Complex is the first manufacturing complex of its kind, having a fully integrated petroleum refinery, petrochemicals complex, captive power plants, and a captive port, with related infrastructure. It represents the largest single investment at a single site in India.
The Reliance-Jamnagar project with a refining capacity of over 27 million tons per year and paraxylene production of 1.5 millions tons per year, Reliance Jamnagar is the world’s largest grassroots refinery and aromatics complex.
The company continues to enhance its strategic position within the industry securing major orders both regionally and internationally. It’s becoming one of the most active companies worldwide with an increasing presence in many international markets and adhering to high standards of quality and reliability. The company is playing an integral role in the growth and development of the cables industry.
|Today we feature a very interesting press release from Exxon Mobile who have just drilled for oil deeper than anyone else before. It was drilled off the east coast of Russia, and set the world record by drilling 11,282 metres which works out at over 7 miles. For the full article please read on:
World-Record Well drilled by ExxonMobil
ExxonMobil’s subsidiary, Exxon Neftegas Limited (ENL), has completed drilling of the Z-11 well, the longest measured depth extended-reach drilling (ERD) well in the world. Located on Sakhalin Island offshore Eastern Russia, the record-setting Z-11 achieved a total measured depth of 37,016 feet (11,282 meters) or over seven miles.
The multiphase Sakhalin-1 Project includes the Chayvo field which is located 5 to 7 miles (8 to 11 kilometers) offshore. The Z-11 was drilled to the Chayvo reservoir
from the Yastreb rig, the world’s largest land-based drilling rig. Overall, the Chayvo field reached its peak production rate of 250,000 barrels (34,000 metric tons) per day in February 2007 after an on-schedule startup in October 2005. The Z-11 is the 17th ERD producing well to be completed as part of the Sakhalin-1 Project. It was drilled in 61 days, more than 15 days ahead of schedule and below expected cost with no safety or environmental incidents.
Since the first Sakhalin-1 well was drilled in 2003, the time required to drill these world-class wells has been reduced by more than fifty percent. When compared to industry benchmarks, Sakhalin-1 wells are the world’s fastest drilled ERD wells.
“ExxonMobil, through the operatorship of Exxon Neftegas Limited, is pleased that the Sakhalin-1 Consortium achieved this record-setting milestone,” said Neil Duffin, president of ExxonMobil Development Company. “Our consortium is committed to the continuing development of the Sakhalin-1 Project which will require significant investment, planning, execution, operating expertise and the employment of leading-edge technology.”
The project team applied ExxonMobil proprietary technologies, including Integrated Hole Quality (IHQ) technology and the Fast Drill Process, to deliver the Z-11 well.
“The physics based modeling and experimental validations of our IHQ technology allowed us to successfully design and drill the Z-11,” said Steve Cassiani, president of ExxonMobil Upstream Research Company. “With this technology we were able to take into account a broad range of interdependent design variables including rock strengths, stresses, and wellbore hydraulics to successfully drill this well.” Used in conjunction with IHQ technology was an optimization process called Fast Drill, which is a unique energy-based analysis tool and work process that allows rig site and drilling engineering personnel to maximize performance in every foot of hole drilled. The Sakhalin-1 Project will bring significant economic benefits to Russia including over US$50 billion in direct revenues to the Russian state, major infrastructure improvements, technology transfer and the supply of natural gas to customers in the Khabarovsk Krai in the Russian Far East. Notably, over 80 percent of the Sakhalin-1 Project drilling rig operators are Russian nationals and project contract awards to Russian companies have reached approximately US$3.8 billion. Exxon Neftegas Limited (30 percent interest) is operator for the project, which includes the Japanese company Sakhalin Oil and Gas Development Co. Ltd., (30 percent); affiliates of Rosneft, the Russian state-owned oil company, RN-Astra (8.5 percent), Sakhalinmorneftegas-Shelf (11.5 percent); and the Indian state-owned oil company ONGC Videsh Ltd. (20 percent).
|If you have an indepth knowledge of the Oil & Gas Industry, are attending the OTC in Houston 2007 and would like to win $5000 then you must visit the Draka Stand. Read on for full press release
Visit Draka at OTC—and win!
Think you know offshore wire and cable? Visit Draka in booth #1353 at OTC and play the $5,000 Make the Connection Challenge. See if you’re a $50 instant winner, then test your knowledge of offshore wire and cable—and Draka—for a chance to win big.
$2,000 First Prize
$1,000 Second Prize
$500 Third Prize
Help develop the next generation of oil and gas professionals
When you play the Draka $5,000 Make the Connection Challenge, we’ll donate US$5.00 to the Society of Petroleum Engineers scholarship fund on your behalf. (If you are unable to accept a prize, Draka will happily donate your winnings to the SPE scholarship fund on your behalf, as well.)
Join with Draka to support the young people who will be tomorrow’s industry leaders.
See the latest in offshore wire and cable innovation
Draka Marine, Oil & Gas International has built a 30-year reputation as the dependable provider of wire and cable solutions for offshore oil and gas operations. Visit booth #1353 to see the wide range of products we offer for your maintenance, repair, and new-build projects.