In the news...

July 22, 2013

News Briefs July 22, 2013

Air Force considers drilling for oil at Vandenberg

U.S. Air Force officials said they will study the economic and environmental feasibility of a proposal to lease land on Vandenberg Air Force Base, Calif., to companies that want to drill for oil and natural gas on California’s central coast.

Mark Meier, chief counsel for the State Lands Commission, said the proposal, which is opposed by environmental groups, would require the first new offshore lease for drilling in state waters since the 1960s.

The proposal from Sunset Exploration Inc. and Exxon Mobil Corp. would employ a type of extraction called “slant drilling,” the Los Angeles Times reported. The drilling uses onshore equipment to reach offshore deposits, and it would have to be compatible with the base’s space missions.

Environmental groups have long fought drilling on California’s coast, saying it poses risks to marine life.

This would be a new oil drilling project along a very biologically rich and sensitive area of the California coast. It would threaten migrating whales and other important species with oil spills and other impacts that result from offshore oil drilling, Linda Krop, chief counsel for the Santa Barbara-based Environmental Defense Center, told the Times.

Sunset Exploration President Bob Nunn said the proposed operation is land-based and would avoid the marine environment, with its drill bit a half mile below the seafloor. He called it “the antithesis of offshore drilling.

Sunset and Exxon tried to drill on the land in 2006, but their application was found incomplete by Santa Barbara County because the military didn’t approve it.

Military officials say Vandenberg has five active oil wells.

To advance, the project also needs approval from the State Lands Commission and the California Coastal Commission. AP

U.K. revokes export licenses for Egypt’s military

The British government said July 19 it has revoked five export licenses for equipment destined for Egypt’s military and police in light of recent unrest in the country that has led to the deaths of civilians.

Egypt has witnessed street skirmishes and protests since the ouster of Mohammed Morsi as president. About 60 people have been killed in the clashes.

Business Secretary Vince Cable’s department said the decision was taken because of the Egyptian authorities’ recent actions with regard to crowd control.

The five licenses covered components for armored personnel carriers, machine guns, and armored fighting infantry vehicles, along with communications equipment for tanks and licenses for vehicle antennas and radio equipment.

Cable said the government had not had reports of British equipment being used in Egypt’s unrest, but took the decision to revoke the licenses upon advice from the Foreign Office.

The U.K. assesses all arms export licenses to ensure there is no risk that weapons and other equipment might be used for internal repression. AP

Rockwell Collins third quarter profit tops Street’s view

Aviation and military electronics maker Rockwell Collins said July 19 that its fiscal third-quarter net income dipped slightly as its income tax expense rose.

But the Cedar Rapids, Iowa, company’s earnings managed to top analysts’ estimates. It also narrowed its full-year earnings forecast on its year-to-date performance.

For the three months ended June 30, Rockwell Collins Inc. earned $164 million, or $1.20 per share. That’s down from $166 million, or $1.14 per share, a year ago. Earnings per share rose because there were fewer shares outstanding in the latest quarter.

Analysts expected earnings of $1.16 per share, according to a FactSet poll.

Revenue slipped 3 percent to $1.17 billion from $1.21 billion as sales from the government systems segment declined. The performance still met Wall Street’s forecast.

Income tax expense increased to $70 million from $64 million.

Rockwell Collins expects full-year earnings in a range of $4.55 to $4.60 per share. Its prior guidance called for earnings between $4.45 and $4.65 per share. Revenue is predicted to be about $4.65 billion, the midpoint of its previous outlook of $4.6 billion to $4.7 billion.

Analysts expect earnings of $4.58 per share on revenue of $4.62 billion.

The company’s CEO, Clay Jones, plans to retire at the end of the month. He will be succeeded by President Kelly Ortberg. Rockwell Collins said in April that Jones will remain with the company as non-executive chairman. AP




All of this week's top headlines to your email every Friday.


 
 

 

Headlines September 3, 2015

News Carter To China: US ‘Will Fly, Sail, Operate Wherever Law Allows’ Defense Secretary Ash Carter, in a speech billed as all about a new personnel approach for the Pentagon, laid out a clear line in the sand of the temporary islands the Chinese have been building. http://breakingdefense.com/2015/09/carter-to-china-us-will-fly-sail-operate-wherever-law-allows/ LRS-B details emerge: Major t...
 
 

News Briefs September 3, 2015

Soldier injured after parachute failed to deploy A soldier was injured during a U.S. Army Special Operations parachute training exercise in western Montana. Army officials at Fort Bragg, N.C., say 16 soldiers were conducting a free-fall parachute jump from two Blackhawk helicopters near Hamilton Aug. 31 when one soldier had an equipment malfunction and was...
 
 

Boeing, Jet2.com finalize order for 27 Next Generation 737-800s

Boeing and UK Leisure Airline Jet2.com have finalized an order for 27 Next Generation 737-800s, valued at approximately $2.6 billion at current list prices. Jet2.com currently operates an all-Boeing fleet of nearly 60 aircraft; however, this is the organization’s first direct Boeing order.† The aircraft will be used to take the company’s package holiday and...
 

 
boeing-emirates

Boeing, Emirates celebrate airline’s 150th 777 delivery

Boeing and Emirates Airline Sept. 3 celebrated the simultaneous delivery of three 777s — two 777-300ERs and one 777 Freighter — marking the entry of the 150th 777 into Emirates’ fleet. The delivery marks the first tim...
 
 

U.S. Air Force selects Chromalloy for F108 gas turbine engine module repairs

Chromalloy announced Sept. 2 that it has been selected by the U.S. Air Force to provide repairs on low pressure turbine modules for the F108 aircraft engine fleet, in a contract valued at up to $74 million. The one-year agreement was contracted by the Tinker Air Force Base in Oklahoma and includes four one-year options...
 
 
raytheon-colorado

Raytheon expanding in Colorado Springs

Raytheon will speed up growth of its Colorado Springs presence after signing a $700 million multi-year indefinite-delivery/indefinite-quantity contract to support operations at NORAD’s Cheyenne Mountain Complex. Under the...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>