Friday September 21, 2018 15:28

Energy Press Release : 16 Jul 2018

PTTEP divests its stake in Montara field in alignment with strategic plan Energy—16 Jul 18

As part of portfolio rationalization, PTTEP announces the divestment of a 100% stake in the Montara field to align with the company's business strategy aimed to focus on the operations and projects in the strategic locations. Somporn Vongvuthipornchai,

GCL System Integration Raises Guidance for 1H 2018 To RMB 20.41 million RMB 30.02 million Energy—16 Jul 18

SUZHOU, China--16 Jul--PRNewswire/InfoQuest

GCL System Integration (SZ: 002506) (GCL-SI), the world's leading provider of one-stop, cutting-edge, integrated energy systems, has revised its forecast for net profit attributable to shareholders in the first half of 2018 to between RMB 20.41 million and RMB 30.02 million (US$3.05 million to US$4.49 million), matching last year's performance and representing a significant turnaround from the loss projected in its the first quarter earnings report.

In GSL-SI's first quarter report, net loss attributable to shareholders was RMB 147 million, with performance loss in the same period expected to be between RMB 100 million and RMB 0. GCL SI's second quarter profit was estimated to be around RMB 200 million yuan.

According to the second quarter announcement, thanks to a cyclical peak season for the photovoltaic industry, GCL SI had sufficient orders to sustain booming production and sales. Although the impact caused by the "5.31 New Deal", such as reduced domestic demand for PV products, was felt strongly in the installed capacity of Chinese domestic PV power plants, the company has already shifted its focus to overseas markets to diversify and expand its customer base. The company's share of sales to overseas m