On Wednesday, General Electric Company (NYSE:GE)’s shares inclined 2.18% to $30.98.
With Pakistan facing a projected 5 gigawatt (GW) energy shortfall, the Federal Government of Pakistan is moving forward with plans to avoid blackouts and meet growing power needs. As part of the government’s plan, GE (GE) will provide two high-efficiency 9HA gas turbines, one steam turbine (engineered by Alstom and now incorporated into GE’s portfolio) and associated equipment to Harbin Electric International Company Limited (HEI) for the new 1.2 GW Balloki combined-cycle power plant. Harbin, a longtime business associate with GE, will handle engineering, procurement and construction of the plant.
This move follows the October declaration of the new 1.1 GW Bhikki combined-cycle power plant in Pakistan, which will also comprise two 9HA gas turbines and one steam turbine (engineered by Alstom); both the Bhikki and Balloki plants are predictable to enter commercial operation in 2017. The Balloki plant marks the 24th and 25th worldwide orders for GE’s HA, the world’s largest, most efficient gas turbine. Together, Bhikki and Balloki will be able to provide the equivalent power needed to supply more than 12 million Pakistani homes.
“The Balloki plant is part of our game-changing approach to providing sustainable, efficient energy to meet Pakistan’s growing demand for power,” said Rashid Mehmood Langrial, CEO of National Power Park Administration Company Limited (NPPMCL), the holding company of the Balloki Power Plant. “We are happy to work with GE on the advanced technologies needed to drive economic growth and improve the welfare of our people.”
General Electric Company operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Oasis Petroleum Inc. (NYSE:OAS)’s shares dropped -7.72% to $8.49. The company’s total market capitalization is $1.28 billion along with 139.12 million shares outstanding. 52 week range of the stock remained $8.04 - $19.63, while its day lowest price was $8.28 and its hit its day highest price at $9.32.
Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin.
At the end of Wednesday’s trade, GrubHub Inc (NYSE:GRUB)‘s shares dipped -1.67% to $23.60.
GrubHub, declared that its delivery service is accessible in the Phoenix market. Through GrubHub’s delivery service, restaurants in Phoenix, counting those that did not formerly offer delivery, can now expand their customer base and grow their order volume. GrubHub’s online ordering platform has been accessible to Phoenix area diners since 2011 and now with the addition of the company’s new delivery capabilities, Phoenix diners will be able to choose from even more local favorites.
GrubHub presently provides delivery services for more than 60 restaurants in Phoenix and Scottsdale, a number that will continue to grow, counting local favorites such as:
- Wadaa Street Tacos
- Arcadia Tavern
- Humble Pie - 7th Street
GrubHub’s national scale lowers the overall cost of delivery to diners, which, in turn, assists encourage diner loyalty. This allows restaurants to focus on making great food while GrubHub can assist to grow their business. GrubHub’s delivery service launched in June of 2014 and has since expanded to 30 markets. By the end of 2015, GrubHub anticipates that delivery will be accessible in more than 40 markets across the country.
GrubHub also declared a partnership with Fatburger, a national chain. This partnership will allow people near the 75+ franchise locations to quickly and easily order Fatburger for delivery on GrubHub’s platform.
GrubHub Inc., together with its auxiliaries, provides an online and mobile platform for restaurant pick-up and delivery orders in the United States. The company connects about 35,000 local restaurants with diners in about 900 cities.
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