Russia’s Lukoil awarded stake in ADNOC’s Ghasha concession

first_imgThe Ghasha gas project is expected to have production capacity of over 40 million cubic meters per day of natural gas and 120,000 barrels per day of crude oil and gas condensate Image: The agreement was signed by Vagit Alekperov, President of PJSC LUKOIL, and Sultan Ahmed Al Jaber, Group CEO of the Abu Dhabi National Oil Company (ADNOC). Photo courtesy of LUKOIL. Russian energy firm PJSC Lukoil has reached a concession agreement with Abu Dhabi National Oil Company (ADNOC) for a 5% stake in the Ghasha ultra-sour gas concession offshore Abu Dhabi.The Ghasha gas project involves the development of previously undeveloped deposits of gas, oil and gas condensate as part of nine shallow fields in the Arabian Gulf west of Abu Dhabi.Through the stake, the Russian company joins Eni (25%), Wintershall Dea (10%) and OMV (5%) as ADNOC’s partners in the sour gas concession.The project is expected to have a production capacity of over 40 million cubic meters per day of natural gas and 120,000 barrels per day of crude oil and gas condensate.Lukoil president Vagit Alekperov said: “The development of the Ghasha concession is the first LUKOIL project in the UAE and we are pleased to partner with ADNOC and cooperate with RDIF in this project. LUKOIL has extensive experience in offshore fields, both independently and in consortia with other major international companies.“We are glad to enter the project in the UAE with such a significant resource base and with such experienced partners. Joining this project is fully consistent with our strategy.”ADNOC, Lukoil and RDIF sign framework agreementA framework agreement has also been signed by ADNOC, Lukoil and the Russian Direct Investment Fund (RDIF) to explore potential future cooperation in relation to the Ghasha concession.ADNOC Group CEO Sultan Ahmed Al Jaber said: “We are very pleased to partner with LUKOIL on this crucial project, which also marks the first time that we partner with a Russian energy company across our full value chain.“LUKOIL joins our other value-add partners on the Ghasha concession, which is integral to our objective of enabling gas-self sufficiency for the UAE.“The transaction is consistent with ADNOC’s targeted approach to engage with strategic partners that contribute the right combination of best-in-class expertise and advanced technology, market access or capital to unlock maximum value from Abu Dhabi’s resources for our mutual benefit while delivering the greatest possible returns to the UAE.”Last year, Austrian oil and gas firm OMV was awarded a 5% stake in the Ghasha concession from ADNOC.The Ghasha ultra sour gas project involves the development of the Hail, Ghasha, Dalma, Nasr, Sarb and Mubarraz sour gas fields.last_img read more

Access to energy is still the priority in developing countries – not climate change, says industry veteran

first_imgWhy access to energy is still an important priority in developing countriesBrinded, a former executive board member at Royal Dutch Shell who was president of the UK-based Energy Institute professional body from 2017 to 2019, told the organisation’s IP Week industry conference in London that affordable and reliable energy had been a “major transforming force for good and progress in the world over the past 100 years”.“During my lifetime, life expectancy has risen by 50% from 48 to 72 globally,” the 66-year-old said.Former Energy Institute president Malcolm Brinded speaking at IP Week in London (Credit: Twitter/Energy Institute)“This is driven by reductions in hunger, progress in medicine, but underpinning that is economic growth – and underpinning economic growth is affordable and reliable energy.“And that’s what’s transformed our standard of life, health and human happiness.“But global use of energy remains incredibly unequal. Three-times as much energy per head is consumed in the OECD as the non-OECD world.“People in the USA each use 10-times as much energy as people in India. And that’s 30-times as much as the 170 million people in Bangladesh, and hundreds of millions in Africa.“So as we think about the huge changes in the global energy system needed to address what is clearly a climate emergency, we have to recognise the very important principle of shared, very differentiated responsibility to take action quickly on reducing greenhouse gas emissions.“A lot of the discussion we tend to hear is very much from an OECD perspective. The reductions required in the developed world are massive and urgent, which is why commitments to net zero by countries and companies are so important both practically and from a global equity perspective.“But for many lower and middle-income countries, unsurprisingly, that priority at the moment is less about reducing emissions and much more about providing access to affordable energy.” An estimated three billion have no access to clean cooking facilities, according to the 2019 Energy Progress Report (Credit: Flickr/Karan Singh Rathore; While the world seeks solutions to stem the tide of rising emissions, the wealthiest nations mustn’t forget that developing countries are still tussling with the issue of people gaining access to energy in the first place.That’s the view of former Shell executive Malcolm Brinded, who believes much of the climate change discussion comes from the perspective of the Organisation for Economic Co-operation and Development (OECD), whose 36 members are from developed nations predominantly in North America and Europe.While their energy policies often focus on replacing fossil fuels with renewables, countries in regions such as Africa and Asia have different priorities to reduce fuel poverty. Countries in the OECD can take for granted the fact they have access to affordable and reliable energy, but hundreds of millions in Africa and Asia are still without clean cooking facilities Climate change is one of just two emergenciesAccording to the 2019 Energy Progress Report compiled by multiple international agencies including the UN and International Energy Agency, there are still 840 million people without any power at all in the world.It also found that three billion have no access to clean cooking facilities, with many preparing food on open fires of animal dung, wood and charcoal – mostly inside their homes.Common theory has suggested each person needs 100 gigajoules of energy per year in order to achieve a high standard of human development – but Brinded said six billion consume below this amount.“So the world actually has two emergencies – one on climate and another one on access to energy,” he added.“It’s very important to think about how we can actually deliver and address both those challenges.“They are daunting but I’m an optimist about the pace of technological change, the astonishing progress in driving down the cost of renewables and the revolution in shale gas – which is now producing well over 15 million barrels of oil equivalent per day just from the US alone, and displacing coal around the world.“Such unexpectedly fast progress gives me hope for the future, but it’s also changing the geography of energy production and trade much quicker than was previously expected.“So we can be sure the race to address both the climate and access to energy emergencies, together with the ever-more rapid progress in technology, will lead to seismic shifts in economic and geopolitical power.” Regional differences in energy transition needs greater considerationThe so-called energy transition is a topic that has grabbed the entire industry’s attention as a combination of wind, solar and hydro take on an increasingly important role alongside traditional sources like oil, natural gas and coal.But in some parts of the world, a diverse energy mix is a relatively alien concept.Speaking at IP Week, Dr Carole Nakhle, an energy economist who is the founder and CEO of London-based consultancy Crystol Energy, pointed out how many parts of the Middle East and Africa are powered by only oil and gas, which are also the backbones of their economies.Crystol Energy CEO and founder Dr Carole Nakhle speaking at IP Week in London (Credit: Twitter/Energy Institute)She said: “If these countries are going to implement the definition of the energy transition as we have in Europe or the rest of the OECD, this means they’re going to have to invest significantly in renewable energy and nuclear power.“For me, it’s quite a simple equation as the more revenues they’ll need to generate from oil and gas in order to invest in these technologies.“It would be very misleading to say everyone is in the same boat. Of course, we’re all facing the same challenges but our interpretation of what should be done is quite different from one region to another.”last_img read more

HMCS Athabaskan Holds Fleet Week New Orleans Reception

first_img Share this article View post tag: americas Back to overview,Home naval-today HMCS Athabaskan Holds Fleet Week New Orleans Reception View post tag: HMCS Athabaskan Authorities View post tag: New Orleanscenter_img April 27, 2015 The Royal Canadian Navy’s top officer hosted allied participants of Fleet Week New Orleans April 25 aboard the Royal Canadian Navy Iroquois-class destroyer HMCS Athabaskan.Vice Adm. Mike Norman, commander of the Royal Canadian Navy, welcomed aboard Sailors and Marines from the U.S. and U.K. who are in New Orleans until April 29.The Fleet Week is a weeklong celebration and collaboration between six ships representing the U.S. Navy, U.S. Marine Corps, U.S. Coast Guard, Royal Navy, Royal Canadian Navy and the community of New Orleans.U.S. Navy ships participating in Fleet Week NOLA include amphibious assault ship USS Wasp (LHD 1), and Arleigh Burke-class guided-missile destroyers USS Cole (DDG 67) and USS James E. Williams (DDG 95). The Royal Navy sent the Duke-class British frigate HMS Lancaster.[mappress mapid=”15791″]Image: US Navy HMCS Athabaskan Holds Fleet Week New Orleans Reception View post tag: Fleet Weeklast_img read more


first_imgWhasats on your mind today?Todays “READERS POLL” question is”We urge you to take time and click the section we have reserved for the daily recaps of the activities of our local Law Enforcement professionals. This section is located on the upper right side of our publication.If you would like to advertise or submit and article in the CCO please contact us City-County [email protected] FacebookTwitterCopy LinkEmailSharelast_img

National Read Across America Day

first_imgShare:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window) MGN Stock Image.JAMESTOWN – Monday is National Read Across America Day.According to, it is celebrated each year on March 2, which is Doctor Seuss’ Birthday.However, if the day falls on a weekend, the observance is held on the nearest school day. That’s because the National Education Association’s Read Across America Initiative is meant to encourage reading in children.The observance was first held in 1998. Locally, Chautauqua County Executive PJ Wendel is participating in the day by reading The Lorax to students at Westfield Elementary School.last_img

Collect ‘Em All! 10 Eerie Into the Woods Animated Posters

first_img View Comments All of those Into the Woods movie photos from last week were great and all, but did they move?! No. No, they didn’t. Check out these 10 animated posters promoting the new film, featuring one dark and spooky image for each star. We’ve got Meryl Streep as the Witch, Johnny Depp as the Wolf, Anna Kendrick as Cinderella, James Cordon as the Baker, Emily Blunt as the Baker’s Wife, Mackenzie Mauzy as Rapunzel, Daniel Huttlestone as Jack, former video blogger Lilla Crawford as Little Red, Chris Pine as the Prince and Billy Magnussen as, um, “The Other Prince.” Check out the awesome new GIF-posters below!last_img

Watch Michelle Obama Sing ‘Friend Like Me’ With Aladdin’s Cast

first_imgWishes were granted when Adam Jacobs, Courtney Reed, Tony winner James Monroe Iglehart and members of the Aladdin ensemble recently performed a selection of highlights from the hit tuner at the White House. The previously reported visit was for the Kids’ State Dinner and First Lady Michelle Obama even joined in with a rendition of “Friend Like Me!” Check out a video of the shining, shimmering, splendid evening below, and then the musical on Broadway at the New Amsterdam Theatre. Related Shows Aladdin from $57.50 View Commentslast_img

Children Make Up Nearly Half of Colombia’s Guerrillas, Says New Study

first_img Springer: Kids are often tricked into joining FARC UN urges Colombia to do more to fight child warrior phenomenon Diego Molano, director of the Colombian government’s Family Welfare Institute which is in charge of protecting children, questioned the report’s finding that the country currently has 18,000 child warriors. But he also admitted that the government lacks solid figures of its own. “What’s important is that no child should participate in the armed conflict,” Molano told reporters. However, Colombia’s illegal armed groups have always included many children. Some were born to female guerrilla and paramilitary fighters. Others followed the footsteps of their warrior fathers, uncles or older siblings. But the pace of forced recruitment of minors has jumped as seasoned fighters and drug gang leaders are gunned down. Rebel commanders have increasingly turned to teenagers and even pre-teens to fill out their ranks while the bandas criminales have found many advantages in deploying kids rather than adults. They’ve also found a large pool of desperate children to target. Though national statistics show a decrease in Colombia’s poverty rate, many rural areas remain backwards and isolated, and beyond the control of the government security forces. Despite the tough conditions, the guerrilla groups and drug gangs sometimes provide rudderless youths a sense of power and — however skewed — direction. BOGOTA — Although the intensity of Colombia’s long-running civil conflict has diminished over the past decade, a new study outlines one particularly devastating trend: Marxist guerrillas and drug trafficking gangs are increasingly recruiting children by force. The study estimates that more than 40 percent of the country’s guerrillas are children. In 2001, Colombian officials put that figure at about 30 percent. In addition, the report said more than half of the members in the so-called bandas criminales — drug trafficking groups made up largely of former right-wing paramilitary fighters who demobilized in the 2000s — are minors. That compares to a 40 percent child warrior rate for the now-defunct paramilitaries, the report said. Released last week, the 120-page study was authored by Natalia Springer, a Colombian expert on international law and human rights. In the absence of clear data about the recruitment of minors, she and about 80 fellow investigators spent four years interviewing nearly 500 demobilized child warriors. Besides focusing on gun-toting kids, the report also estimated that at least 100,000 children labor in drug production and other facets of Colombia’s illegal economy. “This is a humanitarian emergency,” Springer said in a telephone interview with Diálogo. “The level of forced recruitment of children is extremely high.” “The FARC is using minors to make and plant land mines, purchase medicine and carry out intelligence missions,” the UN report said. It added that sexual abuse is rampant and that girls — who make up 43 percent of child recruits — are often forced to have abortions after they become pregnant. Springer suggested that Colombians may be overlooking the problem of child warriors, in part, because the rebels have been weakened by a military offensive while the bandas criminales are less powerful and violent than the Medellín and Cali cartels that dominated the illegal narcotics trade in the 1980s and ‘90s. “There may be the impression that the war is over but I don’t believe that,” Springer said. In fact, the country’s two main guerrilla organizations – FARC and the National Liberation Army, or ELN — are nowhere near defeated, and have stepped up their attacks over the past three years. Meanwhile, the bandas criminales continue to traffic huge shipments of cocaine. Children, Springer says, are “a huge part of this dynamic.” Even so, very few children these days sign up on their own free will. In several southern departments, Springer said, the Fuerzas Armadas Revolucionarias de Colombia (FARC) now forces each family to provide the rebel organization with at least one son or daughter. The FARC’s minimum age used to be 14 or 15 but now Springer said those guidelines have gone out the window and that the average age of child recruits is 12. In one of the most brazen recent cases, FARC rebels burst into a country school in southern Putumayo department in May and forcibly marched 13 students into the jungle. They were between the ages of 10 and 15. “They tricked them by promising the students a better life and then took them away,” Colombian politician Gloria Inés Flórez said of the mass kidnapping. In her report, Springer quoted one former child guerrilla, who went by the name of Juan, as saying he joined the FARC at the age of 10. “The guerrillas asked us which side we were on,” Juan said. “I didn’t want to join them but, come on, you can’t say ‘no’ to these people.” center_img Government disputes study’s conclusions Children like Juan provide illegal armed groups with several advantages. They are easily brainwashed and adapt quickly to the physical demands of fighting in the mountains and jungles. They are not paid salaries and have no way of protesting. They’re often the sons and daughters of impoverished migrant workers who may not be noticed when they go missing, Springer said. Drug gangs, in turn, often rely on youngsters because — when caught — they go through the more lenient juvenile court system, meaning authorities face far more restrictions when it comes to questioning children. In addition, Springer said, it’s harder for those authorities to gain access and information from child gang members because government security forces are prohibited from using minors to infiltrate criminal organizations. Springer’s investigation comes on the heels of a United Nations report released in May that urges the Colombian government to do more to separate children from the country’s illegal armed groups. The UN report said the guerrillas usually recruit children in rural areas while the bandas criminales focus on urban areas. It said that children as young as 8 have been forced to join their ranks, and that several children in FARC uniforms were among those killed in recent military bombardments of rebel camps. Children are ‘huge part’ of cocaine trafficking network By Dialogo August 27, 2012last_img read more

Mortgage success through member education

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Credit unions can win over banks in this Nicole HamiltonCredit unions have a unique opportunity to capture new members and market share around home ownership, and a distinct competitive advantage over other institutions to do so.Americans have much of their money in their homes. In fact, 80 percent of home owners have 66 percent of their net worth in the equity on their house, according to the Century Foundation’s white paper: A Tale of Two Recoveries. This makes their home by far their largest investment.Yet the statistics on how much people understand about mortgage concepts are grim. Mortgages are complex, but are often sold simply, with the focus on interest rate and monthly payment. In addition, few home buyers are aware of how much equity they might have in their homes in the future, given different available products and offers, or what the trade-offs are with regard to overall cost of the loan.Mortgage originators need to be concerned with ability to pay, and the qualification standards are high these days, preventing precarious financial commitments that many homeowners found themselves in during the pre-mortgage crash. Banks that originate mortgages are generally focused on mortgage origination volume, and keeping their complaints and production costs down, but not necessarily on creating educated customers or optimizing those customers’ long-term financial outcomes well into the future. continue reading »last_img read more

US Congress urges Trump administration to get tougher on China’s Xinjiang crackdown

first_imgThe group also asked the administration to work with allies and partners to hold a Security Council meeting at the United Nations to appoint a special rapporteur to look into the situation in Xinjiang province.The United States and China have been at loggerheads for months over the handling of the coronavirus pandemic and Beijing’s imposition of a new security law in Hong Kong. It is also ramping up pressure on China’s treatment of Muslim Uighurs in Xinjiang.The United Nations estimates that more than a million Muslims have been detained in camps there. China has denied mistreatment and says the camps provide vocational training and help fight extremism.Last month, President Donald Trump signed a bill, which Congress passed with only one “no” vote, calling for sanctions over the repression of Uighurs. The legislation for the first time calls for sanctions on a member of China’s powerful Politburo, Xinjiang’s Communist Party secretary, Chen Quanguo, as responsible for “gross human rights violations.”Topics : More than 75 US senators and House members on Thursday urged the Trump administration to take a tougher stance on China over its crackdown in that country’s Xinjiang province and make a formal determination whether its treatment of Muslim Uighurs and other groups constitutes an atrocity, including genocide.”It is time for action,” members of the Senate and House of Representatives, led by Republican Senator Marco Rubio, wrote Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin, asking them to sanction the Chinese officials responsible for the mistreatment of Uighurs.”These human rights abuses demand a response from the United States as well as the international community because evidence strongly indicates that the Chinese government is intentionally working to destroy and essentially wipe out Uyghur families, culture, and religious adherence and encouraging violence against women,” said the letter, seen by Reuters.last_img read more