General Electric power chief identifies issue with new gas turbine
(Reuters) - General Electric Co has identified an "oxidation issue" that affects the lifespan of its new, larger H-class gas turbines, GE Power Chief Executive Russell Stokes said in a blog post on the company's LinkedIn page.
"Obviously, this was a frustrating development, for us, as well as for our customers," Stokes said in the blog first posted on Wednesday, adding that the company had implemented a fix that had the turbines working within targetted parameters.
"The minor adjustments that we need to make do not make the HA any less of a record setting turbine – they are meeting – and in many cases exceeding – their performance goals at every customer site today."
GE shares were down around 2 percent to $12.65 in trading before the bell on Thursday after J.P. Morgan analyst Stephen Tusa highlighted the blade failure in a note reducing his price target on the stock to $10 from $11. (Reporting by Ankit Ajmera in Bengaluru; editing by Patrick Graham)
- Gasum powers Equinor's platform supply vessel with bio-LNG
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Golar LNG signs EPC deal for $2.2-B MK II FLNG conversion project
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- Brazil's fossil push undermines Lula's green ambitions
Comments