Global Energy News Roundup: April 14


The Forum on Energy weekly news roundup brings together a mix of global energy stories from around the web. It is published every Thursday and is available on Twitter via @forumonenergy

Toshiba Publishes Finances, Warns of Uncertain Future

Toshiba published its third quarter results after two postponements, showing significant growth in losses, projecting a $9.2 billion loss for the fiscal year. The results were unaudited because the auditor count not reach a conclusion due to uncertainties related to the acquisition of U.S. nuclear construction company CB&I Stone and Webster. In a statement, the company said, “There are material events and conditions that raise substantial doubt about the company’s ability to continue as a going concern.”

Source: The Guardian, USA Today

Trump Administration Climate Demands Confound G-7

At a meeting of G-7 energy ministers, Trump administration officials pushed to include strong pro-coal, pro-nuclear language in a proposed joint statement on energy policy. Other officials, namely Europeans, balked, and without assurances that the U.S. would plan to stay in the Paris Climate Agreement, scrapped the joint statement. Energy Secretary Perry stated that the Trump administration “is in the process of reviewing many of its policies and reserves its position on this issue.”

Source: Politico

Westinghouse CEO Seeks to Allay Employee Concerns

Jose Emeterio Gutierrez, interim President and CEO of Westinghouse Electric Co. has spent recent days touring the company’s sites. His aim is to educate the workforce on the bankruptcy protection filing the company has undertaken. He projects that the bankruptcy process is working, and that employees will keep their jobs. “I’m becoming more and more optimistic as we go through this process that Westinghouse will be a better company at the end.”

Source: PowerSource

Exelon, JAPC Form Joint Venture

Exelon Generation and Japan Atomic Power Company have formed a joint venture company “to leverage Exelon’s expertise in operational excellence and safety among international operators using Japanese reactor technologies.” The new company, JExel Nuclear, is expected to sign an “advisory services” contract with Horizon Nuclear Power, Hitachi’s UK subsidiary that is developing two Advanced Boiling Water Reactors in Wales.

Source: World Nuclear News