Latest news with #CERAWeekby
Yahoo
12-03-2025
- Business
- Yahoo
GE Vernova CEO Sees Order Backlog Stretching Into 2028
(Bloomberg) -- Many of the energy companies at the CERAWeek by S&P Global conference are customers of GE Vernova Inc., the maker of power-generation equipment. NYC Congestion Pricing Toll Gains Support Among City Residents Trump DEI Purge Hits Affordable Housing Groups Electric Construction Equipment Promises a Quiet Revolution Where New York City's Zoning Reform Will Add Housing Open Philanthropy Launches $120 Million Fund To Support YIMBY Reforms Some of those customers are having to wait patiently in line: Vernova's boss said Tuesday that his company's backlog of orders for gas turbines, power transformers and switchgear stretches into 2028. 'I would expect by the end of the summer, we will be largely sold out through the end of '28 with with this equipment,' Chief Executive Scott Strazik said in an interview with Bloomberg Television's Alix Steel. And despite the massive interest at the Houston conference around artificial intelligence and its thirst for electricity, Strazik says a very small proportion of the company's backlog is explicitly related to AI. 'That's why there's so much growth to come, because we're really just starting,' he said. For more on CERAWeek — Day 2, click here for our TOPLive blog. (Removes erroneous percentage from fourth paragraph on story published March 11.) How Natural Gas Became America's Most Important Export How America Got Hooked on H Mart Disney's Parks Chief Sees Fortnite as Key to Its Future Germany Is Suffering an Identity Crisis 80 Years in the Making The Mysterious Billionaire Behind the World's Most Popular Vapes ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
10-03-2025
- Business
- Bloomberg
Oil CEOs Back Trump's Energy Agenda as Crude Hits Six-Month Low
Executives from some of the world's top oil and gas producers offered full-throated support for President Donald Trump's 'Energy Dominance' on Monday, even as financial markets slumped on broader concerns about his economic agenda. The hallways and sessions on the first day of the annual CERAWeek by S&P Global conference in Houston were filled with buzzy chatter and the vibes of an industry that's looking forward to an upswing.
Axios
10-03-2025
- Business
- Axios
CERAWeek: Super Bowl of energy events unfolds on oil's home turf
HOUSTON — A huge, plush gathering on the oil industry's home turf will mix elation and concern about Trump 2.0 decisions that are reshaping strategies across the energy landscape. Why it matters: The CERAWeek by S&P Global conference — the Super Bowl of U.S. energy events — opens Monday as policy evolves at breakneck speed. "So much is happening, so fast, that partly CERAWeek will be an effort to just assimilate how much has changed, and what is the impact going to be," S&P's Dan Yergin, the energy historian and CERAWeek emcee, tells Axios. The big picture: The exclusive, $10,000-per-head event is many things: big-name onstage interviews with CEOs and Cabinet heads, closed-door government-industry huddles, sideline dealmaking, and more. Energy Secretary Chris Wright is slated to have a private meeting on Monday with execs of major energy companies, Axios has learned. And while CEOs of oil giants take center stage Monday, the conference is far wider, spanning power, finance, and a clean tech wing with startups galore. State of play: Oil and gas firms are mostly psyched about President Trump's anti-regs, "energy dominance" approach. But oil execs are worried about Trump's whiplashing trade policies and their effect on demand and project costs. (How overtly they're willing to complain is another question.) This year's conference opens just days after crude prices hit three-year lows before regaining a little ground. And C-suite concerns extend far beyond the oil patch. "There's going to be a lot of discussion about tariffs and trade and supply chains," Yergin said. Inside the room: Interior Secretary Doug Burgum, who heads the new White House energy "dominance" council, and Wright dined with an international group of CEOs on Sunday night ahead of CERAWeek's opening. The wide-ranging meeting included the CEOs of TotalEnergies, Freeport-McMoRan, Occidental Petroleum, and EQT, based on eyewitnesses and a participant granted anonymity to discuss the private event. Reuters has other names. Dinner conversation touched on permitting, nuclear power, energy production, the new White House council that Wright vice-chairs, and more, attendees said. "There was a lot of discussion about the AI race between China and the U.S.," the person said. The gathering underscores how CERAWeek is concentric circles of exclusivity, ranging from onstage interviews and panels to private, off-the-record events. Here are a few other themes we'll be watching... The climate reset:"One of the big themes of CERAWeek 2025 is going to be the rethinking and recalibration of energy transition," Yergin said. The shift goes beyond just Trump as fossil fuel demand keeps rising and corporate and government climate targets slip further out of reach. "The gap between objectives and actually how things are playing out is just so striking," Yergin said. Expect lots of eyes on BP CEO Murray Auchincloss just two weeks after his firm ditched plans to curb oil and gas production. Data centers and AI: This year's conference is packed with events about data center power growth and how to meet it. One of the opening sessions is about this with Google president Ruth Porat and NextEra Energy president John Ketchum. The U.S. clean energy vibe: It's a window into how companies large and small assess Trump's assault on Biden-era low-carbon policies, which is already slowing or halting some projects. Organizers expect 250 startups this year, far more than last year. So it's a nice window into how they see the world. What's next: Things get rolling on Monday with Wright, the CEOs of Saudi Aramco, Chevron, Shell, United Airlines and more.
