Shell begins divestment of Masela block

first_imgShell has received government permission to open geological data on the gas-rich Masela block in Maluku to potential buyers, marking its first step in divesting the asset.The company will divest the block over an estimated 18 months time while the block’s lead operator, Japan’s Inpex Corp, and the Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas) would focus on developing the nationally-strategic Abadi gas project within the block, said an SKK Migas official.Read also: Shell plans to exit gas-rich Masela Block project“The aim is to have [Abadi] onstream by 2027 and we have agreed with operators to try and stick with this schedule,” SKK Migas head Dwi Soetjipto told lawmakers on Monday.He emphasized that Shell would continue developing the Abadi field despite having received permission from the Energy and Mineral Resources Ministry and the Investment Coordinating Board (BKPM) to begin divestment.Shell’s plan to exit the Masela block dealt a major blow to Indonesia’s energy ambitions as the block, which holds 10.7 trillion cubic feet of proven gas reserves, carries the biggest investment value among Indonesia’s four nationally-strategic oil and gas assets.The Masela block, which is 35 percent operated by Shell and 65 percent operated by Japan’s Inpex Corp, holds the Abadi project slated to produce 347 thousand barrels of oil equivalent (mboepd) per day, which is more than the other three assets, SKK Migas data show.The block’s Abadi project reached 2.2 percent completion as of June this year, below the targeted 10.5 percent, due to lockdown-related delays, according to the data.Read also: As Chevron exit looms, Indonesia eyes Italian Eni to take over IDD gas megaproject”[Shell] looked at the global portfolios under them and decided that investment in other countries was more profitable,” said Inpex Indonesia corporate service vice president Henry Banjarnahor, also on Monday.He said Inpex and SKK Migas were working to procure equipment, complete an environmental impact assessment, acquire land, secure gas buyers and map local weather patterns, among others activities, in the Abadi field.Shell Indonesia did not immediately respond for comment.Topics :last_img read more

Governor Wolf’s Statement on Civil Service Commission Banning the Box

first_img SHARE Email Facebook Twitter Governor Wolf’s Statement on Civil Service Commission Banning the Box Criminal Justice Reform,  Jobs That Pay,  Press Release,  Statement Harrisburg, PA – Governor Tom Wolf released the following statement on the Civil Service Commission’s decision, at his urging, to ‘ban the box’ on employment applications starting on July 1, 2017.“I applaud the State Civil Service Commission’s decision to ‘ban the box’ and make opportunities for reentrants more accessible and create economic opportunity to combat recidivism. Banning the box will allow prospective applicants with criminal records to be judged on their skills and qualifications and not solely on their criminal history, while preserving a hiring agency’s ability to appropriately screen applicants as part of the hiring process.”Today’s announcement comes after Governor Wolf’s change to ‘ban the box’ on non-civil service job applications last week.center_img May 09, 2017last_img read more

Latvian pension funds post negative returns over first quarter

first_imgStock market turbulence caused Latvia’s 12-month second-pillar pension fund returns for the end of the first quarter 2016 to fall to -3.07%, from 9.5% a year earlier, according to the Association of Commercial Banks of Latvia (LKA).The eight active, equity-weighted plans suffered the biggest hit, returning -4.05%, in contrast to 2015, when they generated 11%.The returns of the four balanced funds fell from 9.2% to -3.17%, and those of the eight conservative bond-weighted funds from 5.9% to -0.64%.The improved year-to-date returns – of 0.57% for the conservative plans, -0.07% for the balanced funds and -0.75% for the equity ones – reflected the global stock market rebound in February and March. Changes in asset allocation strategies since the end of 2015 varied depending on the class of fund.The active funds maintained their cash holdings at 15%, one of the highest shares for this asset class for more than five years, and that of equity and equity funds at 26%, while the bond and bond fund share declined by 2 percentage points to 48%.The balanced funds’ portfolio structure remained virtually unchanged, with bond and bond funds accounting for 70%, equity and equity funds 17% and free cash 9%.The conservative funds markedly increased their liquidity, with the cash holding growing by 5 percentage points to 14%, and that of bank deposits by 1 percentage point to 9%, while the share of bonds and bond funds fell by 6 percentage points to 77%.Euro-denominated assets accounted for 92% of all second-pillar assets, followed some way behind by the US dollar at 6%.Geographically, the most significant shift was a 3-percentage-point drop in Western European holdings, to 13%.Latvian assets accounted for the bulk, at 43%, followed by Eastern Europe at 21%, global assets (13%), North America (5%) and Asia (4%), while only 0.4% were invested in Russia.Second-pillar assets grew by 11.6% year on year to €2,408m, of which an estimated €400m is net investment income, while membership increased by around 15,500 to 1.26m.Voluntary third-pillar returns also declined over the year, from an average 10.28% to -3.27%, with the active plans returns falling from 14.85% to -5.41%, and those of the balanced plans from 8.41% to -2.28%.Asset allocation remained relatively similar to that at the end of 2015.The main change was a 1-percentage-point fall in the equity and equity fund share, to 9% for the balanced funds and 33% for the active ones, in favour of bank deposits.As in the case of the second-pillar funds, most (91%) of the assets were euro-denominated and invested in Latvia (32%).Over the year, assets increased by 9.5% to €332m, and membership by 18,415 to 258,670.last_img read more

Nautilus: Smart Ships Could Change Seafaring

first_imgSeafaring could see a transformation amid the new generation of high-tech vessels, which are likely to operate with increasingly reduced crew levels, Nautilus International’s UK branch seminar on maritime automation heard.“Where there are seafarers on ships, they will be in small numbers but will be highly trained and specialist,” Mike Barnett, Southampton Solent University Emeritus Professor, predicted.“The traditional divisions of deck and engine departments may well go and there are big questions about how social life onboard may be affected by these changes,” Barnett added.Furthermore, there will be challenges for mental and health and wellbeing for small crews over extended periods and “if we are using condition monitoring for machines there could well be a case for doing it for seafarers as well, with sensor equipment to send back data on physical and mental variables.”Nautilus professional and technical officer David Appleton said it was hard to see the financial logic of automated ships when crew costs are so low. However, he added, while the shipping industry needs to look at the way the aviation industry has improved its safety record with greatly increased use of automated systems it must also look at some of the resulting risks – including the degradation of key skills as a consequence of automation, the ‘startle’ effect when systems fail, diminished situational awareness and alert fatigue.Grant Hunter, head of contracts and clauses with BIMCO, described the scale of the challenge of revising the global regulatory regime to control the operation of remote-controlled and autonomous ships. He added that many of the international conventions “do not sit comfortably with the concept of automation,” and it could well take more than a decade to overhaul STCW, SOLAS and the collision prevention regulations.The meeting was presented with preliminary findings of the Nautilus Federation’s survey of almost 900 maritime professionals from countries including the UK, the Netherlands, the United States, Denmark, Norway, Sweden, Australia and New Zealand. the results reveal that 83% of seafarers consider automation to be a threat to jobs, 85% see it as a threat to safety and almost 80% believe that radical changes in training and certification are required.However, the survey showed that there are also significant numbers of professionals who see the potential for using technology to improve the working lives of seafarers and to enhance their performance.last_img read more

St Kitts-Nevis police commissioner appeals to local media to be more responsible

first_imgNewsRegional St Kitts-Nevis police commissioner appeals to local media to be more responsible by: – January 12, 2012 Share Share Sharing is caring! Sharecenter_img 31 Views   no discussions Tweet Commissioner of the Royal St Christopher and Nevis Police Force, C. J. WalwynBASSETERRE, St Kitts (CUOPM) — Commissioner of the Royal St Christopher and Nevis Police Force, C. G. Walwyn, is urging the media in St Kitts and Nevis to be responsible and balanced in their reporting of crime in the Federation.“I became concerned when I read an internet radio station’s website report of ’17 tourists robbed in the Federation’,” said the police chief in a statement on Wednesday.Walwyn said the headline is very alarming if the report was true but the fact is that 17 tourists were not robbed in the Federation.“Some members of a ship were dropped off in New Town to play soccer. While they were playing soccer and involved in the game, a young man believed to be from the area walked over to the unattended bags, took one and left. He was observed by one of the players leaving the area with the bag, but that player said he was so involved in the game, he did not alert the other players,” said Walwyn, adding: “There was no confrontation between the suspect and the owner of the bag. Because there was no confrontation (actual or implied) there was no robbery. The charge then would be larceny, based on the dollar value of the contents.”Walwyn also refuted other news reports that masked men were involved in an incident on Tuesday at the Charles E. Mills Secondary School.“It was students who were involved in the altercation,” said Walwyn, who added: “It is indeed very troubling to see media outlets publishing stories without first seeking clarification or verification.”Walwyn said urged media houses need to be more responsible in publishing stories without having substantiated information.“Just this week, there were three stories on one internet media outlet that publishes some stories without verifying the information,” said the police chief.“Credibility is a word that should not be regarded lightly. Media houses that report unsubstantiated information should be concerned about their credibility,” said Walwyn.He gave the assurance that the police have a duty to protect victims of crime and cannot give details of the incident “because it is either under investigation or the next of kin has not yet been notified.”“As Commissioner, I want the media to be a part of the important role in fighting crime,” said Walwyn.He said the police force’s press and public relations officer and other senior members are willing to provide any information requested as long as it does not compromise ongoing investigations.Caribbean News Nowlast_img read more

Richard J. “Hollywood” Stapleton

first_imgRichard J. “Hollywood” Stapleton, age 42 of Batesville, died Wednesday, October 4, 2017 at his home.  Born October 19, 1974 at Fort Thomas, Kentucky, he is the son of Martha (Nee: Edwards) and Richard G. Stapleton.  A 1992 graduate of Hernando High School in Brooksville, Florida, he would attend College in Berea, Kentucky.  He married his soul mate Michele McCord March 1, 2002 in Versailles, Indiana.  Rick worked over 20 years as a machinist and enjoyed his career.Spending time with his family was what he loved most, whether it was playing pool, video games or just watching movies.  Rick was also an avid fisherman.  A member of the U.S.A. Bassin Club, he and his son Nathan were fall Division Champions in 2014, which allowed them to complete in Tennessee for scholarship money.Rick is survived by his wife Michele; son Nathan; his father Richard Stapleton of Brooksville, Florida; mother Martha Stapleton of West Harrison, Indiana; sister Rachel Wall of Brooksville, Florida; brothers Adam (Kellie) Stapleton of Brooksville, Florida, Guy (Lori) Ollier of Hebron, Kentucky, Jason (Jessica) Ollier of Brooksville, Florida; sister-in-law Erin McCord Shepherd of Lawrenceburg, Indiana; four nieces and seven nephews.  He is preceded in death by his grandparents Paul and Clare Dameron, Jim and Ethyl Edwards and father-in-law James McCord.Visitation is Wednesday, October 11th, from 11 a.m. until 2 p.m. at the Weigel Funeral Home.  Funeral services will follow at 2 p.m.  Following services, Rick’s wishes were to be cremated.  Memorials may be made to the funeral home to help with funeral expenses.last_img read more

EC Trojan Soccer Standout Kaitlyn Miller Signs Collegiately With Ravens

first_imgEast Central Lady Trojan Soccer Standout Kaitlyn Miller Signs Collegiately With Anderson University majoring in Exercise Science. Kaitlyn is the daughter of Randy and Missy Miller.Courtesy of East Central Athletic Administration Assistant April McFarland.last_img

Keogh surprised by Ireland omission

first_img The 27-year-old Derby defender marked his first start for Ireland with a goal in the 4-0 friendly demolition of Georgia in June, but did not even make Giovanni Trapattoni’s provisional squad for Friday night’s clash with the Swedes and Tuesday’s trip to Vienna. He told the Derby Telegraph: “I am disappointed not to be in the squad, to be honest. I feel like I have started the season well and when I went away with Ireland last time, I thought I did well. Richard Keogh has admitted his disappointment at his omission from the Ireland squad for the crucial World Cup qualifiers against Sweden and Austria. “But that’s football and I can only keep doing what I’m doing. I’m sure if I keep playing well for Derby, I’ll get back in there. “I’d be lying if I said I wasn’t disappointed. I think my form over the past three seasons has been consistent enough to be in with a shout. “But it will give me a chance to recharge my batteries (during the international break) as I’ve played a lot of football.” Trapattoni has had to contend with a series of problems with defenders since naming a 29-man party, with Sean St Ledger having withdrawn through injury and Stephen Kelly for family reasons, while full-back Marc Wilson has been nursing an ankle problem. But when the Italian called for a reinforcement, it was Bristol City’s Greg Cunningham who got the nod to join up with the squad earlier this week. center_img Press Associationlast_img read more

Mexico, Panama to contest CONCACAF Beach Soccer final

first_imgPANAMA qualified for the 2017 FIFA Beach Soccer World Cup and advanced to the 2017 CONCACAF Beach Soccer Championship final after a dramatic triumph on penalty kicks, 2-1, after a 2-2 draw with El Salvador in the semi-finals.In just their second CBSC appearance, the Panamanians battled back from a goal down to move within three minutes of winning in normal time, only for Agustin Ruiz to level with an overhead kick late in the encounter.However, with the contest eventually going to penalties, Jose Ruben Batres and Heber Antonio Ramos faltered, while Julio Watson and Rafael Garcia found the net for Panama.Defending champions Mexico earned a 3-0 win over Guadeloupe to advance to the final and book a ticket to the 2017 FIFA Beach Soccer World Cup.Jose Ramon Maldonado Alonso struck for two and Diego Oswaldo Rodriguez added another, while Guadeloupe played without suspended star forward Sebastien Hell.With a victory over Panama in yesterday’s final, Mexico can clinch its fourth CONCACAF title.last_img read more