Category: tqngx

Total and partners secure $14.9bn financing for Mozambique LNG project

first_img The Mozambique LNG project involves the development of Golfinho-Atum offshore gas field. (Credit: gloriaurban4 from Pixabay) French oil major Total and consortium partners have secured $14.9bn financing from several banks for the $20bn LNG project in northern Mozambique.The Mozambique LNG project involves the development of Golfinho-Atum gas field located offshore Area 1 Block of the deep-water Rovuma Basin.It also includes construction of a 12.88 million tonnes per annum (Mtpa) onshore LNG facility on the Cabo Delgado coast.The Rovuma Offshore Area 1 consortium secured senior debt financing comprising Export Credit Agency (ECA) direct loans, ECA covered facilities, commercial banks loans, and a loan facility from African Development bank.It raised ECA direct loans from UK Export Finance (UKEF), the Export-Import Bank of the United States (US-Exim), Japan Bank for International Cooperation (JBIC) and Export-Import Bank of Thailand (Exim Thailand).ECA covered facilities came from UKEF, Atradius Dutch State Business, the Export Credit Insurance Corporation of South Africa Soc (ECIC), SACE and Nippon Export and Investment Insurance (NEXI).Total E&P Mozambique Area 1 operates Offshore Area 1 Block of Rovuma BasinTotal’s wholly-owned subsidiary Total E&P Mozambique Area 1 operates Offshore Area 1 with a 26.5% stake.Other partners in the project include ENH Rovuma Area (15%), Mitsui E&P Mozambique Areal (20%), ONGC Videsh Rovuma (10%), Beas Rovuma Energy Mozambique (10%), BPRL Ventures Mozambique (10%), and PTTEP Mozambique Area 1 (8.5%).JBIC said that the loan would primarily finance the development of the gas field and production of LNG in the project.It is expected that Japanese utility companies would offtake approximately 30% of the LNG from the Mozambique project, stated JBIC.This is considered to be the biggest private debt-financing in Africa inspite of the Covid-19 pandemic and volatility in the oil markets.The project faced several challenges to raise funding due to weakened oil prices as well as growing insurgency in the northern part of the Cabo Delgado province, reported Financial Times.Earlier this year, Air Products was selected to provide its LNG technology, equipment and related process license and advisory services for the Mozambique LNG project. The Mozambique LNG project also involves the construction of a 12.88 Mtpa onshore LNG facility last_img read more

President Biden moves swiftly to dismantle Trump’s oil legacy

first_imgShortly after becoming 46th President of the United States, Joe Biden made key interventions that will change the face of the country’s oil industry Oil lease sales in Alaska refuge blocked, days after first industry auctionAnother notable policy reversal came with a temporary ban on new oil lease sales in the Arctic National Wildlife Refuge in north-east Alaska.President Trump had succeeded where many others before him failed in opening up the protected federal land to oil and gas drilling, thanks to a provision for an auction process passed in a 2017 tax law.The former president expedited this sale process during his final months in office, overseeing the first-ever sale of drilling plots in the region earlier this month – a move heralded by the federal Bureau of Land Management as “a hallmark step and a clear indication that Alaska remains important to meeting the nation’s energy needs”.Alaska’s ANWR had been kept off-limits to oil development for decades (Credit: Troutnut/Shutterstock)In his executive order, President Biden directed the Interior Department to “place a temporary moratorium on all activities of the federal government” relating to the leasing process, requesting a review of the scheme and a “new, comprehensive analysis” of its environmental impact.While providing industry access to the ANWR – where decades-old estimates suggest there are almost 12 billion barrels of recoverable crude reserves – was a landmark achievement of the Trump presidency, the auction itself proved to be anti-climactic.Just $14.4m was raised by a sale from which major producers chose to steer clear amid the financial constraints brought on by the pandemic and potential reputational issues associated with drilling in the region.A total of 13 eligible bids were received, 11 of which came from the Alaska Industrial Development and Export Authority (AIDEA), a state government organisation which made the offers with a view to potential industry partnerships at some point in the future.On 19 January, the US Bureau of Land Management issued 10-year leases for nine of the 11 successful bids, after AIDEA withdrew its interest in two of the tracts.Adam Kolton, executive director of the Alaska Wilderness League, which is among a coalition of advocacy groups that have mounted legal opposition to the lease sale, said: “Alaska’s wild lands and waters were too often in the bullseye for an anti-conservation agenda these past four years.“We are thrilled that the incoming Biden administration has placed Alaska’s public lands among its top conservation priorities. We look forward to working together to realise Alaska’s significant potential to protect America’s resources at the landscape level, a key strategy for safeguarding vital biodiversity and addressing the climate crisis.” Joe Biden tasks EPA with tightening oil and gas industry emissions standardsThere was further intervention by Joe Biden to reverse the regulatory rollbacks of the Trump administration relating to vehicle fuel-efficiency standards and methane emissions across the oil and gas industry.The relaxation of industrial and transport emissions rules was highly controversial, even within the industry, and attracted legal opposition from environmental campaign groups.The most recent of these deregulatory actions came last August, when the Environmental Protection Agency (EPA) – now with new leadership under President Biden – finalised rules releasing oil and gas companies from the requirement to closely monitor and control methane emissions at production and processing facilities.Transmission and storage operators were also freed from methane-specific regulatory controls, as well as wider air-quality standards governing the release of volatile organic compounds (VOCs) into the atmosphere.Joe Biden has now directed the EPA to propose new industry regulations establishing strong standards for “methane and volatile organic compound emissions from existing operations in the oil and gas sector, including the exploration and production, transmission, processing, and storage segments”.His order stipulates for this to occur by September 2021. The API said it will “work closely with the Biden administration as it conducts regulatory reviews that may impact our industry”.Fred Krupp, president of the US-based Environmental Defense Fund, said: “Revising methane standards could bring quick climate benefits. Cutting methane emissions from oil and gas is the fastest and most high-impact way to slow the rate of global warming.” Joe Biden cancels development of Keystone XL oil pipelineA more sensitive issue was the withdrawal of a permit, granted by former President Trump in 2019, for development of the Keystone XL pipeline, linking Canadian oilsands to refineries across the US Gulf Coast.In 2015, then-President Barack Obama blocked the infrastructure project on environmental grounds, but the Trump administration reinstated the venture saying it would further the interests of US energy independence by reducing the need for imports from outside North America.In his executive order revoking this permit, President Biden said analysis made in 2015 concluded “the significance of the proposed pipeline for our energy security and economy is limited” and would “undermine US climate leadership” by undercutting its credibility as it urged other countries to take action on climate change.The near-2,000km-long pipeline would have stretched from oilfields in Alberta, Canada to a connection point in Nebraska, US, where it would join a pipeline network supplying US refineries around the Gulf Coast region.The $8bn project was tipped to transport around 830,000 barrels of crude oil per day, and its construction – supported by the Canadian government alongside owner and operator TC Energy, was heralded as a major source of both revenue and job creation.TC Energy said it was “disappointed” with the decision, adding it will now suspend the project and “consider its options”.The API labelled Biden’s decision to block Keystone XL a “slap in the face” to union workers who had been contracted for its development, warning the “misguided move will hamper America’s economic recovery, undermine North American energy security and strain relations with one of America’s greatest allies”.center_img Canada relations tested following Keystone XL blockIndeed, senior Canadian officials, including Alberta Premier Jason Kenney and Prime Minister Justin Trudeau, have expressed concern about the project’s cancellation.Kenney said in a statement: “As friends and allies of the United States, we are deeply disturbed that one of President Biden’s first actions in office has been to rescind the Presidential permit for the Keystone XL Pipeline border crossing.“A decision has been made without even giving Canada a chance to communicate formally with the new administration. That’s not how you treat a friend and ally.”The Alberta Premier called on President Trudeau to approach his US counterpart over the decision. “Failing an agreement with the American government, we call on the Government of Canada to respond with consequences for this attack on Canada’s largest industry,” he added.Prime Minister Trudeau released his own statement on the issue, saying attempts had been made after the US election to “make the case” for the pipeline to high-level officials of the new administration.He added: “While we welcome the president’s commitment to fight climate change, we are disappointed but acknowledge the decision to fulfil his election campaign promise on Keystone XL.”Environmental groups welcomed the pipeline’s cancellation. Catherine Collentine, an associate director at Sierra Club, said: “Rejection of Keystone XL [is] a huge and hard-fought victory for our communities, clean water, and climate.”Anthony Swift, Canada programme director at the Natural Resources Defense Council, added: “President Biden’s decision to reject the Keystone XL tar sands pipeline on its first day turns the page on a twelve-year fight over the energy future of our country and sets the stage for a more prosperous future powered by clean energy.” Joe Biden was elected on an agenda pursuing sweeping reforms to the US energy system (Credit: Crush Rush/Shutterstock) US President Joe Biden wasted little time in moving to undo some of his predecessor’s signature actions – most notably for the oil industry a block on development of the Keystone XL pipeline and a ban on further lease sales in Alaska’s Arctic National Wildlife Refuge (ANWR).Just hours after the inauguration ceremony yesterday at Capitol Hill, the new president issued a series of executive orders reversing hallmark policies of a Trump administration that had largely been a champion of industry and sought to advance oil projects in the interests of US energy independence.Among the Day One actions was the headline re-instatement of the US as a participant in the Paris Agreement on climate change, a move widely-welcomed by global leaders and industry alike.We’re back in the Paris Climate Agreement.— President Biden (@POTUS) January 21, 2021The American Petroleum Institute (API), an influential voice for oil and gas interests in the US, said it shares “President Biden’s goal of leadership in addressing climate change” and will “support the ambitions of the Paris Agreement” and global action to reduce greenhouse gas emissions.The lobbyist group confirmed that natural gas will continue to be key priority for its membership as a transitional fuel while the world moves forward with electrification.“Models show this agreement between nations cannot be achieved without access to natural gas, and that’s why we will continue to advocate for expanded US LNG exports as a path to transition countries toward cleaner fuels while ensuring millions of people in developing nations have access to electricity,” it said in a statement.last_img read more

Garth Hudson, Taj Mahal, Warren Haynes, & More Celebrate The Last Waltz’s 40th Anniversary In LA

first_imgEdit this setlist | More Warren Haynes setlists There are few places in this or any universe where and when one could truly replicate The Last Waltz, the famed final show played by The Band on Thanksgiving of 1976. In 2012, Levon Helm, the group’s most iconic voice, passed on to That Great Gig in the Sky. In 2015, Allen Toussaint, the New Orleans legend who arranged the horn section for the original show, passed on.And that’s to say nothing of all the members of The Band and their special guests who are now either deceased or have aged out of regular performance.That hasn’t stopped the music from carrying on through a 40th anniversary tour of The Last Waltz. Nor did it to do anything to dampen the spirit of the stop at the Orpheum Theatre in downtown Los Angeles. The ornately decorated venue proved to be a perfect host for Warren Haynes, Jamey Johnson and the cast of characters who’ve criss-crossed the country reviving a rock-and-roll classic.From The Band standards like “Up on Cripple Creek”, “Rag Mama Rag”, “The Night They Drove Old Dixie Down” and (of course) “The Weight” to blues standards and then-contemporary covers, this band breathed new life into an epic concert that, save for the fortunate few who were at the Winterland Ballroom in San Francisco on that November night, is left to musical lore beyond Martin Scorsese‘s famous concert film.Haynes, among the most decorated fill-in frontman for historic rock outfits, wailed with voice and axe through two rambling sets (and a two-song encore) with every bit of bravado and brilliance on display during his stints with the Dead, the Allman Brothers Band and Gov’t Mule. Johnson, a relative spring chick at 41, more than held his own belting out numbers, including “Georgia On My Mind”, and flaunting flowing locks from his head and beard. They were backed by a colorful cast of characters on horns (led by Mark Mullins), drums (Terence Higgins) and keyboard (Danny Louis).No tribute to The Last Waltz would be complete without a stack of cameos, and this one was no exception. Dave Malone, of New Orleans’ Radiators fame, joined in for a rendition of CSNY‘s “Helpless” and The Band’s “This Wheel’s On Fire.” Cyril Neville, of the Meters and the Neville Brothers, lent his talents on percussion and vocals, even stealing the show for a spell during the Bo Diddley classic “Who Do You Love.” Taj Mahal—clad in a red shirt, black pants and a white hat—seized the stage on multiple occasions, to belt out “The Shape I’m In”, “Life Is a Carnival” and Bob Dylan‘s “Forever Young” and rip some steel guitar on Robert Johnson‘s “Kind Hearted Woman Blues.”The crowd, which came to its feet after just about every song, got many a joyful earful from some who were on stage for the original Last Waltz. Steady Rollin’ Bob Margolin, who was then a young understudy to the aged Muddy Waters, “laid some pipe” on slide guitar during a rendition of Muddy’s “Mannish Boy” and regaled the audience with tales of late-night jams with Dylan, Helm, Eric Clapton, Ronnie Wood and Paul Butterfield. Dr. John, with the clothing and countenance of the same Crescent City eccentric he (presumably) was 40 years ago, banged away on the piano and lent his gravelly voice to Bayou favorites like “Such a Night” and “Down South in New Orleans.”And while most of The Band has either retired or passed on, there was one member with enough juice left in the tank to join this gang on the road: Garth Hudson. The silver-haired 79-year-old needed a hand shuffling onto and off of the stage, but once he sat down at the piano, it was as if no time had passed since the original show. He tickled the ivories to perfection toward the end of the show and into “The Weight” before the group concluded Set No. 2 with Dylan’s “I Shall Be Released.”Who knows how many (if any) of the original Waltzers will be around for a 50th anniversary in 10 years? By then, with any luck, there will be a whole new generation of great musicians who are ready, willing and able to get the ghosts of The Band back together for yet another Last Waltz.Below you can view fan-shot videos of both sets, courtesy of Pay Myers: Enjoy the gallery below, courtesy of Brandon Weil.center_img Load remaining imageslast_img read more

Appeals court weighs constitutionality of terror watchlist

first_imgFALLS CHURCH, Va. (AP) — A panel of federal appellate judges expressed concerns about ordering revisions to a government watchlist of roughly 1 million individuals labeled as “known or suspected terrorists,” despite a lower court finding that the list was constitutionally flawed. The 4th U.S. Circuit Court of Appeals in Richmond, Virginia, heard arguments Tuesday on the constitutionality of the watchlist. Government lawyers urged the judges not to intervene in the list’s administration. They argue that the problems encountered by those on the list, like enhanced screening at airports, were too insignificant to merit intervention on constitutional grounds. Opponents of the watchlist say the burdens are significant for those who must live with them and that most are on the list for no good reason.last_img read more

Saint Mary’s hosts annual Aquinas lecture

first_imgCollege students should not feel the need to be constantly happy, Notre Dame philosophy Professor Alasdair MacIntyre said in the annual McMahon Aquinas lecture Wednesday evening at Saint Mary’s. The lecture, “How Truth Is Approached Through Error: Rereading Aquinas’s Project at ‘Summa Theologiae’ Ia-IIae, qq. 1 and 2,” explored the teachings and writings of 13th century theologian Saint Thomas Aquinas. MacIntyre began his lecture by discussing the way Aquinas approached philosophy. He said Aquinas first introduced readers to the false conclusions reached by earlier philosophers in order to engage readers in an ongoing philosophical discussion. “We as human beings are truth seekers,” he said. Self-defeating, error-prone truth seekers.” MacIntyre explained how Aquinas examined the natural human tendency to desire happiness in the “Summa Theologiae.” To Aquinas, happiness was defined as an achievement of the virtues, particularly the Beatitudes, but as MacIntrye said, this is a difficult concept for 21st-centruy readers to understand. “Happiness has become the name of a psychological state,” he said. MacIntyre said people are less happy because they have become “foolishly self-indulged.” He said people have become “burdened by the notion of happiness” and feel ashamed to admit to being unhappy. Instead, MacIntyre proposed that people, particularly college students, discredit the concept of needing to be happy at all times. He said it is helpful to be unhappy because through displeasure with the current self, a person may then be motivated to grow in virtue. Thomas Graff, a sophomore philosophy major at Notre Dame, said he enjoyed the lecture as an introduction to Aquinas. “I appreciated [MacIntyre’s] ability to not only effectively communicate the misconceptions of human happiness, but also to emphasize the importance of philosophy and virtue as primarily an individual pursuit,” Graff said.last_img read more

NDSP offers online crime tracker

first_imgNotre Dame students now will be able to track campus crime patterns faster and more efficiently than ever before, using a digital mapping service that updates automatically. Notre Dame Security Police (NDSP) recently launched a subscription with CrimeReports, a mapping service that tracks crimes in a user-designated area. NDSP Crime Prevention Officer Keri Kei Shibata said this new mapping service will be a valuable tool for members of the Notre Dame community. “The more information people have, the more they are able to make good decisions about how to live safely and what kind of safeguards to take,” Shibata said. “I think it’s good for the public.” NDSP Director Phil Johnson said the previous method of providing crime-tracking information students was done manually, and the information was released less often. “We would send you a safety beat each month,” he said. “We plotted the crime data onto a map. Now this will happen on an automatic interface that is routinely available quickly.” Shibata said one benefit of the program is students can register for free with the website and customize “neighborhoods” with geographic areas on campus they want to receive crime updates about. “What a ‘neighborhood’ does is it lets me see alerts about the crimes that I am interested in,” she said. “So if I want to only want to know about thefts in my residence hall, I can set it for the area around my residence hall and it will send me an email whenever a theft in my residence hall gets posted.” In addition to recognizing possible particular areas on campus where certain crimes such as theft may occur often, Johnson said he hopes NDSP may receive more tips as students become more aware of criminal activity on campus. “You may see something on here that you have information about and you contact us because you now know you have information about a reported crime,” he said. Shibata said the program’s launch has been in the works for a year. She said information from NDSP’s reporting system is pulled directly by CrimeReports daily at midnight. This information is then plotted using Google Maps. “I think it is more user-friendly,” she said. “Rather than going to a line of text, it is more visual.” Shibata said an additional benefit of the program is it releases information in a timely, accurate manner. “We may sometimes receive more information that changes the classification of a crime, and that will update on a map,” she said. Johnson said CrimeReports, which provides crime-plotting information for the United States and internationally, is also in the process of being launched by the South Bend Police Department. He said this would be a valuable information source for those who live off campus. “We think an informed campus constituency is safer,” Johnson said. “In particular for our South Bend faculty, staff, and students, if you hear a rumor about something happening in your neighborhood, you can look at the map and see nothing happened.” Rather than replacing any notification methods, Johnson said he views CrimeReports as a supplementary source of safety information. He said NDSP will continue to send out serious crime alerts as mandated by federal law through emergency messaging and ND Alert, the student notification system. “This is just one more tool in our communications resources to help us keep the community informed of what is happening and to help the community be aware of crimes so they can take steps to protect themselves,” Johnson said.last_img read more

Financial Planners Invest in Moondyne Agency

first_imgThe Patrick Group has partnered with Burlington communications company Moondyne Agency for their new marketing developments. Moondyne Agency will address re-branding and the creation of various collateral for the South Burlington based financial planning firm.Additionally this month, Moondyne relocates its offices to 5 Lawson Lane in Burlington. Kohn, a New York City advertising veteran, opened the agency doors last spring, bringing creative brand advertising solutions to a wide range of regionally based businesses. Lawson Lane is located between St. Paul Street and Pine Street, just west of Burlington’s City Hall Park. For more information call (802) 310-3326 or visit is external).last_img

Environmental consulting firm offers new services

first_imgTerese Churchill, Master of Science, has recently joined the environmental consulting firm The Johnson Company of Montpelier, Vermont. Her practice can provide safety program implementation, mock OSHA inspections, air quality investigations, safety training, and other related services. Ms. Churchill has 20 years of experience as an occupational health and safety compliance officer for the state of Vermont, and as an environmental health and safety manager in private industry. She has worked for Ben & Jerrys, Husky Injection Molding, and Ethan Allen furniture in senior management where she reduced worker compensation costs and injury rates by establishing solid safety programs. In 2001 her work led to the Vermont Governors Award for Environmental Excellence, and in 2008 her work guided Ethan Allen into the Vermont Business Environmental Partnership program. Ms Churchill has been selected as one of 50 people invited to attend the first International Environmental Leadership Management Symposium at Rochester Institute of Technology in New York. Ms. Churchill lives in Barton where she managed a dairy farm with her ex-husband for 25 years. She holds a private pilots license and enjoys hiking, skiing, and working with her agility dog. For more information, or to contact Ms. Churchill for an interview, call her at 802.673.3369last_img read more

U.S. Military Operation Martillo to Reinforce Guatemalan Police

first_img A total of 171 United States Marines will provide support, starting this week, to the Security Forces of Guatemala, in an operation called Martillo, focusing on countering drug trafficking in Central America, reported an official source on Aug. 21. The Guatemalan Defense Minister, Ulises Anzueto, said operations will last two months and will aim to neutralize the drug gangs that smuggle drugs across the Guatemalan Pacific. “‘We try to counteract drug trafficking and provide the restraint needed for their entry into Guatemalan territory, and if they enter, bring them to a place where we can stop or disrupt their activities,” said Anzueto to the internet newspaper, Prensa Libre. The actions will cover six departments of southwestern Guatemala. Operation Martillo is an initiative of the U.S. government to combat drug trafficking, together with Central America and the Caribbean, and so far, it has only been implemented in Honduras. According to Anzueto, the joint operation will involve some two thousand Guatemalan soldiers. The Americans used the South Air Command in Retalhuleu, about 105 miles from the capital as a strategic point, but the Brigade Base Paratroops of Puerto San José (South) of Central Air Command, in the capital, will be added to the Task Force operation of Northwestern San Marcos (southwest), explained Anzueto. The drug traffickers began to use the south coast, especially since the sea is easy access. What they do is unload [the drugs] at sea, and then they use routes to move toward the border of Mexico’, reported the Guatemalan President, Otto Pérez last Monday. The presence of foreign military in Guatemalan territory, under the Constitution, can only be approved by the legislature, which has not happened so far. By Dialogo August 23, 2012last_img read more

Dinner, with a lesson

first_imgRecently, I had the pleasure of dining with a number of successful credit union CEOs.  As much as I could, I sat back and listened.At one point, one of the CEOs joked that her job really boiled down to showing up at parades and kissing babies.  We all laughed.  But then I had to ask her this…What really is your job?The question really seemed to hit home, and one-by-one, all the CEOs took a minute and discussed how they saw their work. No one gave exactly the same answer, but they all spoke about similar things.Focus.  They spent time and effort making sure their teams focused on what mattered most.  One CEO said that when she started, she boiled the list of things to focus on down to only three. If what you were doing didn’t fit into one of the three things, you stopped doing it.  Now that’s focus. Strategy. Each CEO said that they had to build a strategic vision. Some worked with their boards.  Others were delegated with that task.Communication. This was universal. Every CEO said that much of their job was continuous communication – both giving information and listening. Communicate the vision.  The strategic plan. Priorities. Over and over.  And all of them championed the idea that good leaders had to get out of their office and visit with their colleagues. Shepherding. If the credit union or a particular executive was getting away from priorities, each CEO said a good part of their job was diplomatically getting things back on track. Stewardship. Finally, each CEO spoke of stewardship. Protecting and empowering employees.  The credit union’s brand. The credit union’s membership. Its vision. You could see the ownership and care that each leader had in his or her voice.That’s a good list. And it was a great dinner.  And the food wasn’t bad either.  12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Anthony Demangone Anthony Demangone is executive vice president and chief operating officer at the National Association of Federal Credit Unions (NAFCU). Demangone oversees day-to-day operations and manages the association’s education, membership, … Web: Detailslast_img read more