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GE, Statoil to partner on green initiative

Jan. 28, 2015 2:54 PM ETGeneral Electric Company (GE) StockGE, EQNRBy: Carl Surran, SA News Editor19 Comments
  • GE and Statoil (STO) launch an R&D partnership to work on ways to cut greenhouse gas emissions, in a bid to show that fossil fuels can have a long-term future under increasingly tough climate regulations.
  • The two companies are seeking technologies that can reduce emissions and cut costs, for example by reducing the wasteful flaring of associated gas released during oil production, FT reports.
  • The partnership is a first for GE’s oil and gas services division, which believes technologies to cut the use of fuel and other resources will prove commercially attractive at a time of weak oil prices.

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