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NEW YORK, March 22, 2018 /PRNewswire/ — ION Investment Group announced today that it completed its acquisition of Openlink Financial, a global provider of trading and risk management solutions. Financial terms were not disclosed.
Openlink provides complementary solutions that further expand ION's footprint across energy companies, financial services institutions, and commodities-intensive corporates.
Clients will benefit from ION's additional scale and reach, with global capabilities that enhance Openlink's existing offerings and expertise, and advance Openlink's product and delivery excellence.
To learn more about Openlink, visit www.openlink.com.
About ION Investment GroupION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporates. For more information, visit www.iongroup.com.
SOURCE Openlink Financial LLC
HEFEI, China and HAMBURG, Germany, March 22, 2018 /PRNewswire/ — Sungrow Power Supply Co., Ltd ("Sungrow"), the global leading inverter solution supplier for renewables with over 60 GW installed worldwide, announced to have received VDE 4120 compliance for its string inverter SG60KTL, becoming the first PV pure player to receive this certificate in the string inverter segment worldwide.
VDE-AR-N 4120:2015 fulfills the technical conditions necessary for the connections and operations of the Sungrow SG60KTL to the high voltage network. Sungrow has teamed up with leading global quality assurance and risk management company DNV GL on certification of the SG60KTL, one of the Company's bestselling products in Europe. DNV GL has issued a Type Certificate for Sungrow's PV inverter SG60KTL demonstrating compliance with the German guideline VDE-AR-N 4120 [Technische Bedingungen für den Anschluss und Betrieb von Kundenanlagen an das Hochspannungsnetz (TAB Hochspannung)].
The SG60KTL is a compact 66 kVA three-phase inverter with a maximum efficiency of 98.9% in a very compact and light weight design for easy installation. More information on the product can be found here.
"We are very proud having received VDE 4120 compliance," said Stefan Froboese, Technical Director for Sungrow EMEA. "Product safety and compliance are paramount for the success of Sungrow and our customers likewise. With this certification, we have shown once more that we are taking the lead in product compliance in all relevant markets. Third-party independent verification with regards to all applicable technical standards is required in today's markets and we have taken the necessary steps accordingly."
"We are happy to provide Sungrow with this type certificate which gives Sungrow an internationally recognized proof that its PV inverter was developed and manufactured to rigorous quality and safety standards and is in line with the respective grid connection requirements," said Bernd Hinzer, Head of Grid Connection Certification at DNV GL.
Sungrow Power Supply Co., Ltd ("Sungrow") is a global leading inverter solution supplier for renewables with over 60GW installed worldwide as of December 2017. Founded in 1997 by University Professor Renxian Cao, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 20-year track record in the PV space, Sungrow products power installations in over 50 countries, maintaining a worldwide market share of over 15%. Learn more about Sungrow by visiting www.sungrowpower.com
DNV GL in the power and renewables industry
DNV GL delivers world-renowned testing and advisory services to the energy value chain including renewables and energy management. Our expertise spans onshore and offshore wind power, solar, conventional generation, transmission and distribution, smart grids, and sustainable energy use, as well as energy markets and regulations. Our experts support customers around the globe in delivering a safe, reliable, efficient, and sustainable energy supply.Learn more at www.dnvgl.com/energy.
SOURCE Sungrow Power Supply Co., Ltd
The company delivers value through knowledge-based operations and data-driven maintenance
LONDON, March 21, 2018 /PRNewswire/ — Based on its recent analysis of the building energy management systems (BEMS) segment, Frost & Sullivan recognizes EcoEnergy Insights, formerly EcoEnergy, with the 2017 Global Customer Value Leadership Award. EcoEnergy Insights' customer-centric BEMS solution, powered by its energy management platform, has earned it a leadership position in the global BEMS segment. Its value-oriented energy management platform and shared-savings business model have made it the BEMS supplier of choice for a range of companies across verticals and regions. By offering IoT-enabled products, data analytics, and outstanding customer-centric services, EcoEnergy Insights is set to dominate the segment for years to come.
EcoEnergy Insights' energy management services, such as centralized monitoring, demand response, and energy benchmarking, add great value to a customer's bottom line by delivering tangible outcomes at a lower cost. The company's revenue is sometimes tied to its customers' success, providing even more incentive to enable savings for its customers.
"EcoEnergy Insights understands the importance of delivering stellar customer service as its projects extend for long contract periods of up to 10 years and involve enterprise customers," said Frost & Sullivan Industry Analyst Anirudh Bhaskaran. "They are well aware that the customer ownership experience is not a one-time sales event but an evolving process with continuous opportunities for improvement. EcoEnergy Insights mines the data and continuously looks for new opportunities to deliver positive impact to customers' operations thereby engaging with more high-value projects."
Furthermore, to avoid purchase hassles and enhance its customers' ownership experience, EcoEnergy Insights has devised a flexible and transparent purchasing model. Its unique payment structure is determined by a combination of the geographic location of the customer and the vertical for which the solution is provided.
"EcoEnergy Insights, being a value-driven brand, employs several process improvement techniques such as Six Sigma Kaizen, and lean principles in its workflow to improve its operational efficiency," noted Anirudh Bhaskaran. "Its energy management platform plays a huge role in data-driven maintenance by performing three core operations—anomaly detection, fault diagnostics, and actionable intelligence. Above all, EcoEnergy Insights is dedicated to utilizing automation through machine-to-machine learning across all operations so that it minimizes human intervention and adds significant value to customers."
For its industry-leading focus on enriching customer experience and customer ROI with its BEMS solutions, Frost & Sullivan is excited to recognize EcoEnergy Insights with the prestigious 2017 Global Frost & Sullivan Award for Customer Value Leadership.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on investment that customers make in its services or products. The award recognizes the company's focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and ultimately customer base expansion.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community.
Andrea Steinman P: 210.477.8425 F: 210.648.1003 E: mailto:email@example.com
SOURCE Frost & Sullivan
Revenue Increases by 18.13% to RMB91,962 Million
Continuously Tamping the Foundation of Production and Operation
Continuous Optimization of Operation and Cost Reduction
HONG KONG, March 21, 2018 /PRNewswire/ — Sinopec Shanghai Petrochemical Company Limited ("Shanghai Petrochemical" or the "Company") (HKEX: 00338; SSE: 600688; NYSE: SHI) today announced the audited operating results of the Company and its subsidiaries (the "Group") prepared under International Financial Reporting Standards ("IFRS") for the year ended 31 December 2017 (the "Year").
According to IFRS, revenue of the Group for the Year increased by 18.13% to RMB91,962 million. The net profit attributable to owners of the Company was RMB6,143.2 million, representing an increase of 2.93% compared to last year. Basic earnings per share amounted to RMB0.569 (2016: RMB0.553). The Board of Directors proposed the distribution of final dividend in respect of the year ended 31 December 2017 of RMB0.30 per share (including tax) for the Year (2016: RMB0.25 per share).
Mr. Wu Haijun, Chairman of Shanghai Petrochemical, said, "In 2017, the world economy had shown strong recovery with accelerated growth of developed economies and overall growth rally of emerging and developing economies. China had pushed forward supply-side structural reform to continue to release economic vitality, power and potential, which achieved national economy in stable state with good momentum and annual GDP (gross domestic product) growth of 6.9% that was better than expectation. China's petrochemical industry was operated in stable trend with good momentum with basically steady production, overall stable market demands, risen product price and improved industrial efficiency. During the year, centered on overall efficiency and profits, the Group made great efforts to seize the favorable market situation and actively carried out safety and environmental protection, optimizing operation, market development and cost reduction, which achieved good results in production and operation and created a high level of economic benefits in history."
In 2017, the Group's net sales amounted to RMB79,218.3 million, representing an increase of 20.14% year-on-year. Benefited from the increase in the costs of raw materials, the sales price grew generally compared to the last year. Net sales of synthetic fibres, resins and plastics, intermediate petrochemicals, petroleum products and trading of petrochemical products increased by 8.07%, 4.30%, 14.08%, 34.99% and 15.12%, respectively.
The Group operated facilities smoothly during the Year. Basically flat processing volume of crude oil and less processing business made increasing amount of product and commodity of the Group with total volume of commodities of 13,717,500 tons, increasing 6.91% than in last year. Compared with last year, the Group processed 14,352,800 tons of crude oil in 2017 (including 1,605,600 tons of processing on given materials) with slight increase of 0.35%. The Group produced 3,166,100 tons of gasoline, up by 9.98%; 3,863,800 tons of diesel, down by 0.47%, and 1,574,100 tons of jet fuel, down by 1.51%. The Group produced 766,900 tons of ethylene, down by 7.11%; 632,900 paraxylene, down by 5.62%. The product sales rate was 99.80% and the loan return rate was 100%. The product continued to keep high quality.
In 2017, international crude oil prices showed a V-shaped trend. The average unit cost of crude oil processed by the Group (for its own account) was RMB2,581.35 per ton, up by 30.40% over the previous year. The Group's cost of processing crude oil in 2017 accounted for 45.45% of the total cost of sales.
For the Year under review, the Group continuously tamped the foundation of production and operation. It continued to strengthen Health, Safety and Environment management, made clear responsibilities of production safety for correspondent parties, carried out risk identification and control, as well as continuously developed hidden danger troubleshooting activities in different ways and made rectification. In addition, it intensified the source control of environmental protection and paid special attention to the equipment maintenance, so as to enhance process management and smoothly complete overhaul and realized normal establishment and stable operation. On the other hand, the Group continued to optimize its production and operation, and costs reduction to strive to expand its margin. The Group accurately grasped the pace of crude oil procurement, controlled reasonable crude oil inventory, strengthened storage and transportation management of crude oil and reduced the cost of crude oil. Also, it actively strived for the optimal allocation of refined oil, optimized gasoline blending by measures of optimization and adjustment of catalytic device operation and outsourcing processing of low octane components to try to improve the gasoline production and high-grade gasoline ratio.
Looking forward, Mr. Wu Haijun said, "In 2018, the world economy is expected to continue its recovery momentum. China will continue to maintain the general keynote of work which is to make progress while ensuring stability; continue with the supply-side structural reform as the main direction; and make overall plans for carrying out various tasks to maintain growth, boost reforms, readjust the structure, improve people's livelihood and prevent risks. China's economy is anticipated to remain stable with good development momentum. As the escalating global economy will fuel an increasing demand for petrochemical products, the global petrochemical industry is expected to remain stable with a rise trend in 2018. Since the supply-side reform is proceeding and the growth in downstream demand remains stable in China, the petrochemical industry is expected to continue to see structural improvement to the supply and demand. However, since there is no fundamental change in the imbalance between the supply-side structural surplus and the structural shortage in the domestic refined oil market and petrochemicals market, the expansion of the scale of domestic large private refining and petrochemical enterprises and the recovery of coal chemical production capacity will further intensify market competition in the future. In 2018, the Group will continue to adopt a market-oriented and benefit-centred approach, step up safe and green development as well as the management of production and operation, optimize resources allocation and tone up structural adjustment, striving to maximize the overall value."
Shanghai Petrochemical is one of the largest petrochemical companies in China in terms of sales revenue and was one of the first Chinese companies to complete a global securities offering. Located at Jinshanwei in southwest Shanghai, the Group is a highly integrated petrochemicals enterprise which processes crude oil into a broad range of products such as synthetic fibres, resins and plastics, intermediate petrochemicals and petroleum products.
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks such as the risk that the PRC economy may not grow at the same rate in future periods as it has in the last several years, or at all, due to the PRC government's implementation of macro-economic control measures to curb over-heating of the PRC economy; the risk of uncertainty as to global economic growth in future periods; the risk that prices of the Company's raw materials, particularly crude oil, will continue to increase, the Company may not be able to raise the prices of its products as appropriate, which would adversely affect the Company's profitability; the risk that new marketing and sales strategies may not be effective; the risk that fluctuations in demand for the Company's products may cause the Company to either over-invest or under-invest in production capacity in one or more of its four major product categories; the risk that investments in new technologies and development cycles may not produce the benefits anticipated by the management; the risk that the trading price of the Company's shares may decrease for a variety of reasons, some of which may be beyond the control of the management; the risk of competition in the Company's existing and potential markets; and other risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update this forward-looking information, except as required under applicable laws.
Encl: Consolidated Income Statement
Sinopec Shanghai Petrochemical Company Limited
2017 Annual Results
(Prepared under International Financial Reporting Standards)
Consolidated Income Statement
For the year ended 31 December
Sales taxes and surcharges
Cost of sales
Selling and administrative expenses
Other operating income
Other operating expenses
Other gains/ (losses) – net
Finance income – net
Share of profit of investments accounted for using the equity method
Profit before income tax
Income tax expense
Profit for the year
Profit attributable to:
– Owners of the Company
– Non-controlling interests
Earnings per share attributable to
owners of the Company for the year
(expressed in RMB per share)
Basic earnings per share
Diluted earnings per share
SOURCE Sinopec Shanghai Petrochemical Company Limited
– GLP and Brookfield establish 50:50 joint venture to develop and operate rooftop solar projects on logistics and commercial rooftops in China
– Partnership intends to become the largest rooftop solar power provider in China
– Expected capacity of 300 megawatts in three years, with a broader 1 gigawatt development pipeline — equivalent to the annual consumption of approximately 750,000 households
SHANGHAI and NEW YORK, March 21, 2018 /PRNewswire/ — GLP, the leading global provider of modern logistics and industrial facilities and technology-led solutions, and Brookfield Asset Management (TSX:BAM.A) (NYSE:BAM), a leading global alternative asset manager, today announced the formation of a 50:50 joint venture dedicated to building China's largest platform for distributed solar energy on logistics and commercial rooftops.
The joint venture, by affiliates of GLP and Brookfield, intends to install 300 megawatts of rooftop solar projects over the next three years, with a broader 1 gigawatt development pipeline, which is equivalent to the annual power consumption of approximately 750,000 households.
The partnership will leverage GLP's growing footprint of approximately 33 million square meters of logistics facilities in China and Brookfield's extensive expertise as a leading global owner, operator and developer of renewable power assets. The partners expect to pursue development opportunities on third party-owned rooftops in the country and may expand into other areas of co-operation in the future.
Ming Mei, Co-Founder and CEO of GLP, said: "This new partnership with Brookfield will allow us to leverage each other's strengths to further capitalize on GLP's high-quality assets. Investing in infrastructure beyond GLP's logistics platform is part of our strategy to develop an ecosystem that harnesses technology to deliver better outcomes for our customers and communities."
"This partnership represents an attractive opportunity to expand our footprint in China's rapidly growing renewables market, with a strong local partner in GLP," said Bruce Flatt, CEO of Brookfield Asset Management.
Stewart Upson, CEO of Brookfield Asset Management Asia Pacific said, "We look forward to working closely with GLP and leveraging our experienced local operating team and significant renewables development expertise to establish a leading rooftop solar platform in China."
GLP is a leader in building environmentally-friendly logistics facilities globally. In Japan, GLP is one of the largest solar power providers from rooftop panels on logistics facilities. In addition, GLP buildings across China, Japan, the US, Europe and Brazil have achieved LEED certification, including four LEED Platinum certifications, the highest possible rating.
Brookfield, a leading global alternative asset manager, operates one of the largest, public pure-play renewable businesses globally. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia and totals more than 16,000 megawatts of installed capacity. Brookfield also has an extensive history of developing renewable power projects globally. Through this partnership, Brookfield is well positioned to advance the significant backlog of projects and to expand its existing capabilities in distributed rooftop solar generation.
About GLP (www.glprop.com)
GLP is the leading global provider of logistics solutions. Through its network of strategically-located properties and ecosystem partners, GLP is able to offer both space and technology-led solutions to drive value for its customers. GLP is one of the world's largest real estate fund managers, with over US$46 billion of assets under management and a global portfolio of 62 million square meters (667 million square feet) spread across eight countries globally.
Please note that the Company's name has changed to GLP effective January 2018.
About Brookfield Asset Management
Brookfield Asset Management Inc. is a leading global alternative asset manager with approximately US$285 billion in assets under management. The company has more than a 100 year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Through its affiliate, Brookfield Renewable Partners, Brookfield operates one of the world's largest publicly traded, pure-play renewable power platforms.
For further information, please contact
Ambika Goel, CFASVP- Capital Markets and Investor Relations Tel: +65 6643 6372Email: firstname.lastname@example.org
Brookfield Asset Management
Claire HollandVice President, Media and CommunicationsTel. +1-416-369-8236Email. Claire.email@example.com
Avery HawVice President, Investor RelationsTel. +1-416-359-1955Email. Avery.firstname.lastname@example.org
This news release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this news release may not contain, and you may not rely on this new release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of Brookfield or GLP. This news release contains forward-looking statements and information within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words "intend", "aim", "will", "may", "expect", "expand", "estimate", "build", "believe", "anticipate" and derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements regarding the objectives, plans and goals of each of Brookfield and GLP in respect of the joint venture. Although each of Brookfield and GLP believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, you should not place undue reliance on them, or any other forward-looking statements or information in this news release. Future performance and prospects of each of Brookfield and GLP are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield or GLP to differ materially from those contemplated or implied by the statements in this news release include (without limitation) weather conditions and other factors which may impact generation levels at facilities; economic conditions in the jurisdictions in which Brookfield or GLP operate; ability to sell products and services under contract or into merchant energy markets; changes to government regulations, including incentives for renewable energy; ability to complete development and capital projects on time and on budget; inability to finance operations or fund future acquisitions due to the status of the capital markets; health, safety, security or environmental incidents; regulatory risks relating to the power markets in which Brookfield or GLP operate, including relating to the regulation of our assets, licensing and litigation; risks relating to internal control environment; contract counterparties not fulfilling their obligations; changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and other risks associated with the construction, development and operation of power generating facilities. For further information on these known and unknown risks as they relate to Brookfield, please see "Risk Factors" included in the Form 20-F of Brookfield Renewable Partners L.P.
The foregoing list of important factors that may affect future results is not exhaustive. The forward-looking statements represent Brookfield's and GLP's views as of the date of this news release and should not be relied upon as representing Brookfield's and GLP's views as of any subsequent date. While we anticipate that subsequent events and developments may cause our views to change, each of Brookfield and GLP disclaim any obligation to update the forward-looking statements, other than as required by applicable law.
References to Brookfield are to Brookfield Asset Management Inc. together with its affiliates unless the context reflects otherwise.
References to GLP are to GLP Pte. Ltd. together with its affiliates and subsidiaries unless the context reflects otherwise.
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TAIZHOU, China, March 21, 2018 /PRNewswire/ — Jolywood (Taizhou) Solar Technology Co. Ltd ("Jolywood" or "the Company"), a leader in the research, development, and mass production of N-type bifacial solar cells, has signed a cooperation agreement ("the Agreement") with the Australian solar company Golden Invest Pty Ltd. The cooperation marks a further step for Jolywood in penetrating the Australian market by providing local energy projects with N-type bifacial solar cells.
Per the agreement, Golden Invest will develop power projects with a total capacity of 100 MW in Australia, which will exclusively utilize N-type bifacial solar modules manufactured and supplied by Jolywood. The N-type Bifacial Solar Cells meet their requirements, as they bolster stronger resistance to LID, maintain better performance under weak illumination and have a lower cost compared to other options such as P-type modules.
Cao Xiaorong, General Manager of Jolywood Overseas Sales, said, "We are thrilled to work with Golden Invest, which has rich experience in developing solar power projects in Australia. This partnership is yet another recognition of the quality and value of our N-type bifacial solar products from a global company."
Jolywood and Golden Invest have successfully collaborated before. The first project that they completed together in Renmark, South Australia, generates 248 KW of electricity using Jolywood's N-type bifacial solar cells. Based on the actual amount of power generated and other performance data tracked, the modules deliver high efficiency with longer power generation time and better performance in weak light condition. Mark Yates, General Manager of Golden Invest, has expressed great confidence in the future sales potential for the N-type bifacial solar modules in the Australian market.
Golden Invest is a leading Engineering Procurement Construction (EPC) company that also invests and develops solar energy and energy storage in Australia. Its director Mark Yates has 14 years' experience in project development and management. By the end of 2017, Mark Yates had successfully accomplished the development, design and installation of projects delivering a combined capacity of 200MW.
Jolywood has been actively exploring international markets in recent years. Apart from this Agreement, it signed a distribution agreement with IMI Industry in Thailand last year and just entered into a business partnership with Solar Systems from Ukraine. "We hope, through more global cooperation opportunities, that we can help more communities and people build a greener future," said Cao.
About Golden Invest Pty Ltd.
Golden Invest Group is a pioneer investing company specialized in renewable energy. The company is based in Adelaide, South Australia. It has built close relationships with local councils and SAPN (South Australia Power Networks). Golden Invest started a joint venture company Green Gold Energy with Yates Electrical Services, which had more than 10 years' experience in solar energy. Green Gold Energy is specialized in solar PowerStation EPC. It has opened grounds and shaped the SA solar industry. Golden Invest currently holds numerous solar projects and has more than 20 on-going solar projects in its subsidiaries. Golden Invest is a young yet experienced and fast-growing company. It is leading the industry and will continue to for the next decade.
About Jolywood (Taizhou) Solar Technology Co. Ltd.
Jolywood (Taizhou) Solar Technology, a wholly-owned photoelectric technology subsidiary of Jolywood (Suzhou) Sunwatt Co. Ltd., is engaged in the research & development, production and marketing of solar cells, solar energy, silicon, and technical advisory services. The company has been accumulating new technologies since its founding and has applied for over 60 patents to date, with 23 of them having been successfully granted. Founded in 2008, Jolywood (Suzhou) Sunwatt Co. Ltd. is the largest professional manufacturer of PV backsheet worldwide, with an annual production capacity of over 100 million meters. The company also tops the global solar industry with 2.1GW in manufacturing capacity of N-type bifacial solar cells.
For more information, please visit: http://en.jolywood.cn/
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HONG KONG, March 20, 2018 /PRNewswire/ — CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that Weizhou 6-13 oilfield has commenced production ahead of schedule.
Weizhou 6-13 oilfield is located in Beibu Gulf in the South China Sea with an average water depth of approximately 35 meters. In addition to fully utilizing the existing facilities of Weizhou 12-1 oilfield, the project has also built one wellhead platform. Currently, there are seven wells in production and the project is expected to reach a peak production of approximately 9,400 barrels of crude oil per day in 2019, exceeding its ODP approximately 3,000 barrels of crude oil per day.
Weizhou 6-13 oilfield is an independent oilfield in which the Company holds 100% interest and acts as the operator.
Mr. Yuan Guangyu, CEO of the Company, said: "Weizhou 6-13 oilfield not only commenced production ahead of schedule, but also exceeded its ODP's estimates in both reserves and production. This is attributable to the Company's efforts in strengthening of its innovation and technology-driven philosophy and reinforcing its quality and efficiency enhancements."
Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com.
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company's expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, whether the transactions entered into by the Group can complete on schedule pursuant to their terms and timetable or at all, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People's Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the Annual Report on Form 20-F filed in April of the latest fiscal year.
Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.
For further enquiries, please contact:
Ms. Jing LiuManager, Media & Public RelationsCNOOC LimitedTel: +86-10-8452-3404Fax: +86-10-8452-1441E-mail: email@example.com
Ms. Iris WongHill+Knowlton Strategies AsiaTel: +852-2894-6263Fax: +852-2576-1990E-mail: firstname.lastname@example.org
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SOURCE CNOOC Limited
TAICHUNG CITY, Taiwan, March 16, 2018 /PRNewswire/ — The "Taiwan-Europe Wind Industry Summit – Supply Chain Building & Green Talent Training," with the Taichung City Government Economic Development Bureau, European Chamber of Commerce Taiwan (ECCT), Taiwan International Ports Corporation (TIPC), and Metal Industries Research & Development Centre (MIRDC) serving as organizers, TUV Rheinland and the Taiwan Wind Turbine Industry Association (TWTIA) as co-organizers, was held at the 4F Assembly Hall of Taichung City Hall on March 15 (Thu). European wind-industry experts as well as local industry, government, and academic representatives were invited to take part in the Summit, which was focused on cooperation and talent cultivation in the wind-industry supply chain. The event attracted participation by more than 500 attendees. Localization development policies, and the best ways to implement these policies, were discussed by experts from different backgrounds with the objective to promote active cooperation between Taiwanese and European businesses.
To realize the goal of a "Nuclear-free Homeland" by 2025 and support the transformation of Taiwan's energy structure, a letter of intent on the establishment of a joint Taiwan Wind Power Training Center was signed during the Summit. The construction of a cooperative platform for the wind-industry supply chain and for talent cultivation will help bring about the localization of the wind industry. Taiwan's "Ministry of Economic Affairs" (MOEA) forecasts indicate that up to TWD 33.2 billion will be invested in the domestic wind-industry value chain by 2025, generating industry output worth TWD 121.8 billion.
The green energy infrastructure component of the "Forward-looking Infrastructure Development Program" sets a target of 4.2GW (1.2GW onshore + 3GW offshore) in cumulative installed wind-power capacity between 2017 and 2025. The goal is to develop internationally competitive wind farms for Taiwan. Taichung Port has also been designated by the Executive Yuan as the central Taiwan port for handling large components, and Changhua Fishing Port as location of a dedicated dock for operation & maintenance. Together, the two ports will create a key center for the development of the wind industry.
Government official such as Taichung City Deputy Mayor Lin Yi-ying, ECCT Chairman Hakan Cervell, and Head of European Economic and Trade Office (EETO) Madeleine Majorenko were invited to speak at the Summit. Jan Steinkohl, a Policy Officer in the European Commission's Directorate General for Energy, was also invited to deliver a speech on the European Union's regulatory framework and support schemes for offshore wind power.
The goal of offshore wind industry policy is to stimulate the long-term development of the wind-turbine manufacturing, maritime engineering, and wind farm O&M industries. Taiwan is set to move forward at full speed on the development of offshore wind power, but there is a shortage of maritime engineering expertise. The unique conditions related to working at sea means there are significant hidden risks, and the health and safety of workers are also at stake. The required talent will need to be cultivated through long-term cooperation between the industry and universities. TUV Rheinland is now helping the industry to cultivate local Taiwanese expertise, and provides professional training for those interested in entering the wind industry. This include courses on offshore wind-power HSE management, wind farm certification, technical personnel qualifications, NDT training , and welding certification, boosting industry competitiveness in key areas.
The purpose of this Summit was to promote the development of the wind industry by connecting resources from different sources. Representatives from each sector also held forums on topics such as wind-industry policy, supply-chain strategy, cultivation of onshore and offshore wind-power talent, as well as a road map and action plan for wind-power localization. Alex Chu, Vice General Manager of Industrial Services TUV Rheinland, was invited to chair the forum on the cultivation of onshore and offshore wind-power talent. Chu has over 12 years of experience in the wind industry. His expertise covers wind-industry testing, inspection, certification, and O&M. During the Summit, he shared his insights and engaged with other industry peers.
Photo – https://photos.prnasia.com/prnh/20180315/2081068-1
SOURCE TUV Rheinland
OPET ranks second in terms of market share in the fuel retail industry thanks to its approach of improving the customer experience and its outstanding and innovative services.
LONDON, March 15, 2018 /PRNewswire/ — Based on its recent analysis of the fuel retail industry, market research and consulting firm Frost & Sullivan recognized OPET Petrolcülük A.S. (OPET) with the 2017 Best Practices Award for its approach of improving the customer experience and its outstanding and innovative services. Frost & Sullivan announced, "OPET increased its market share through a wide network of fueling stations and value-added services based on consumer needs while developing innovative services for its customers by leveraging technology."
OPET General Manager Cüneyt Ağca said receiving an award from a globally prestigious organization like Frost & Sullivan meant a great deal to the company. "We've been voted the leader in customer satisfaction in our industry for the last 12 years. We're happy to keep our leadership as the first brand that comes to mind in satisfaction surveys, which is an outcome of the importance we attribute to customer satisfaction. We're going to continue satisfying our customers with our results-oriented, long term, inclusive social responsibility projects and our high-quality products," Ağca commented.
Frost & Sullivan market analyst Hikmet Çakmak said the following: "OPET has leveraged technology to develop value-added services for customers, while using data insights to improve its market share. In addition, OPET's focus on social responsibility projects has allowed the company to make a material contribution to the well-being of the region. OPET's Clean Toilets Campaign is a massive public undertaking with nation-wide hygiene training in schools and various institutions as well as improved sanitation in the company's filling stations. For these reasons, OPET Petrolcülük A.Ş. has earned Frost & Sullivan's 2017 Best Practices / Customer Service Leadership Award in Turkey's fuel retail industry."
OPET has dedicated time and resources to additional customer value-added services, such as fast customer response. On the call center side, OPET employs computer telephony integration and dynamic interactive voice response solutions, which are linked to OPET's own loyalty and station automation systems, to ensure quick customer response times. The company provides service with a 100-agent call center to handle customer concerns and issues. Field teams can access real-time customer complaints through the company's online portal while dealers can communicate with the headquarters with speed and efficiency via a dedicated portal.
In early 2017, OPET launched the Smart Fueling system, wherein customers register their vehicles through SMS, mobile app, or Web site to link their registration plates with the required fuel type, which enables faster, automated service and helps eliminate fueling mistakes at the pumps. Capturing all fuel transactions, the company uses its customer relationship management infrastructure to segment customer data based on their contribution to its revenue, measured in total spending, per-visit purchases, and spending trends, to provide better targeted customer service. Furthermore, OPET has embarked on a novel digital campaign through partnerships with other brands. Customers can use numeric codes printed on partner brands' product packaging to obtain free fuel.
With the Clean Toilets Campaign that has been going on since 2000, OPET managed to spread clean toilets and toilet hygiene and make them permanent starting with its own filling stations. Personal hygiene training was given to 9.5 million people during the campaign that has been conducted across Turkey for 18 years. The campaign received an invitation from the Turkish Standards Institution which was impressed by its success in large-scale awareness-building in sanitation and hygiene supported with school seminars and partnership with numerous public and private organizations. The standards promoted by the campaign were made mandatory by the Ministry of the Interior in sanitation facilities in work places and restaurants along with public toilets. The concept of Clean Toilets became identified with the OPET brand as a result of this campaign.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About OPET Petrolcülük A.Ş.In the fuel distribution industry, OPET is engaged in the fields of retail, commercial and industrial sales, storage and international trading as well as mineral oils and jet fuel through its subsidiaries. Noted for its innovative products and services, rapidly expanding network of filling stations, and approach to social responsibility that makes a difference, OPET is the only domestic company among the industry's major players. The unchanging leader in customer satisfaction in Turkey's fuel distribution industry, OPET has more than 1,500 filling stations including those under the SUNPET brand. Boasting a storage capacity in excess of 1 million m3 which gives it a solid competitive advantage, OPET is also hailed as the company that puts technology to best use in the fuel industry.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, collaborates with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, Frost & Sullivan has been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion
Contact:Andrea SteinmanP: 210.477.8425 F: 210.348.1003E: Andrea.Steinman@frost.com
SOURCE Frost & Sullivan
TURIN, Italy, March 15, 2018 /PRNewswire/ — Four-time F1 World Champion Lewis Hamilton and teammate Valtteri Bottas yesterday celebrated the unveiling of PETRONAS' new $60 million Global Research & Technology (R&T) Centre in Turin, Italy.
(Photo: https://mma.prnewswire.com/media/654712/PETRONAS_Lewis_Hamilton_and_Valtteri_Bottas.jpg )
The World Champions joined guests in previewing Mercedes-AMG PETRONAS Motorsport's title sponsor's state-of-the-art facility, where the technical fluids that have powered them to four consecutive drivers' and constructors' championship titles will be made in future.
The event highlighted PETRONAS' quest for a responsible and energy-efficient future, including the development of products for the hybrid-powered Mercedes W09 EQ Power+, which will be designed, tested and blended at the new Global R&T Centre. It will also be the home of fuels for next-generation road car engines using technology proven on the race track.
Lewis Hamilton said: "It's been years in the making so it's great to get a feel for how this amazing facility is coming to life. PETRONAS is a central pillar of our team and every success that we earn has been achieved together. It is very important to place the achievements that we make on the track into the bigger picture, and this new facility represents the depth of technology which is the lifeblood that powers our cars."
Valtteri Bottas said: "PETRONAS' new Global Research and Technology Centre is about developing new technology solutions that will take us further, and do so with even greater awareness of our responsibility to use energy in efficient ways."
"As a company, we are dedicated to moving the world with better, more efficient fluid technology solutions. Our success in achieving that goal leads to the success of our customers and partners, which is exemplified by the Mercedes-AMG PETRONAS Motorsport Team's tally of four consecutive constructors' and drivers' championship titles," said Giuseppe D'Arrigo, Group Chief Executive Officer, PETRONAS Lubricants International.
"PETRONAS demonstrates through F1 that it is a world leader in the global fluids industry – this new facility reflects the scale of the company's ambitious development programme," said Toto Wolff, Team Principal of Mercedes-AMG PETRONAS Motorsport.
"After visiting this state-of-the-art facility and meeting the talented scientists who will be working here, it's clear how committed PETRONAS is to invest in an even brighter future through research and technology, he added.
"As a racing team, we are responsible for developing the next generation of technologies for the world's leading automotive manufacturer – and our mission is mirrored by PETRONAS new Global R&T Centre."