Offshore

GE gives rise to new oil behemoth

Just three weeks after the purchase of LM Wind Power, GE continues on its wave of consolidation. This time, the US conglomerate is seeking a partnership with annual revenue of more than USD 32 billion.
Photo: /ritzau/AP/Thibault Camus
Photo: /ritzau/AP/Thibault Camus
BY MAZ PLECHINGER, ENERGIWATCH

The energy industry is in the midst of global consolidation and GE is in many ways a poster child for the trend. Just three weeks after making an offer to buy Denmark's LM Wind Power, the US-based conglomerate is at it again.

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