Govt says decommissioning included in agreement

first_imgGovernment has debunked claims that decommissioning has not been included in the agreement it signed with U.S oil giant ExxonMobil, cautioning citizens to be careful of so-called pundits.Natural Resources Minister Raphael Trotman has said that Guyanese must equip themselves with the necessary knowledge to be able to determine right from wrong, and who is telling the truth.Natural Resources Minster, Raphael TrotmanThe Minister was referring to recent comments made by former Parliamentarian Charles Ramson Jr, who claimed that no provisions were made to exclude decommissioning costs from “cost oil.”ExxonMobil is expected to use revenue from its production in order to recoup its capital investment. This will be categorised as “cost oil”. Whatever remains of this is the ‘profit oil,’ which Guyana will have to split between the oil company and its associates.Decommissioning, on the other hand, is a process consisting of the removal of industrial installations and any relevant structures that have come to the end of their productive life in a certain industry, particularly oil.Trotman said, “Everyone has pronounced himself or herself an expert, and I don’t know if the Ministry (Natural Resources) could try to answer every so-called expert every day.“But it would be absurd that we won’t consider decommissioning …the Petroleum Exploration and Production Act deals with that. It states how the decommissioning should be done.”According to him, ExxonMobil has a licence which deals with the decommissioning. In fact, the Minister explained, the cost will be shared by both parties when that time has arrived.In fact, Article 5 of the oil agreement signed between the two parties speaks to relinquishment, referring to several sections of the Petroleum Exploration and Production Act which deals with decommissioning.Ramson had said that in an offshore production, such as where Guyana’s well is located, the costs can range in the region of a few million dollars to over US$500 million per oil and gas reservoir, for which plugging and abandonment is one of the highest cost factors – representing about 60 per cent of the total decommissioning cost.The former MP had claimed that ExxonMobil can write off any decommissioning cost as expenses and that would significantly lessen future revenue for Guyana, or ExxonMobil could seek partial funding from the Guyana Government to offset that cost, as is being done in the UK.Ramson also alluded to Guyana missing out on a chance to have a stake in the venture, as a partner with Exxon. He noted that because of this, the country had lost revenue, not to mention a chance to be recognised at an international level.But it was impossible for Guyana not to include decommissioning in its laws, especially when this process is legally governed by an international regulatory framework.On the decommission dealt with at international level, the main legal international principles (meaning principles not covering decommissioning within the States’ territorial waters, where it is entirely regulated by national laws) are contained in the 1958 Geneva Convention on the Continental Shelf and the 1982 United Nations Convention on the Law of the Sea, among others.There is also a human rights aspect to the decommissioning, especially since there is consideration of the dangerous nature of these activities on the environment and human life. And if decommissioning is not done to standard, it represents a huge risk for the life of the companies involved.For such reasons, in recent years, oil and gas companies have become increasingly active in paying proper attention to the international legislation addressing the care and protection of human rights.The 2013 Oil and Gas Sector Guide on Implementing the UN Guiding Principle on Business and Human Rights, issued by EU, aims at identifying a set of human rights affected by the activities in the oil and gas sector, as well as at providing guidance on how to spread knowledge about their existence with a view to promoting their protection through proper risk management activities.last_img read more

Remembering Declan Doherty RIP

first_imgHundreds of mourners formed a human shield of umbrellas as hailstones exploded from the black skyline over Kilmacrennan.Such a sight would no doubt have caused Declan Doherty to crack off one of those brilliant smiles.All these mourners here to remember him and him having the last laugh. Declan was only 33 when he took seriously ill at his beloved grandmother Mary’s home in Kilmacrennan on Sunday last.Unfortunately, he never made it back and surrounded by his loving parents Susan and Declan, brother Kevin and sister Ellen, he passed gently onto the next chapter of his being on Monday last at Letterkenny University Hospital.A lot of stories were told this week about Declan’s relatively short life on this earth.But the common theme was of a young man whose gentle approach to life touched everyone he came into contact with. The late Declan Doherty, RIP.Fr Paddy Dunne recalled the typical snapshot of Declan bouncing along Letterkenny Main Street, shoulder bag on board, converse, jeans and a fitted jacket.And not forgetting the mop of curly hair, glasses and that disarming smile.He also recalled how everyone seemed to give Declan lifts.My last encounter with him was indeed giving him one such lift to his grandmother’s house a few weeks back and I’ll cherish the memory of that bumpy ride whenever I think of him.Everyone had a story to tell of their encounters with Declan. Former President of St Eunan’s College, Fr Michael Carney had mourners in tears of sadness and laughter when he recalled his time with the then young student.He recalled how he often wondered if Declan was actually studying law in a parallel universe such was his ability to defend himself when he landed himself in a little hot water.There’s so much you want to say about Declan and that numbing, empty feeling left by his sudden departure will stay with us for many days, weeks, months and years to come.Many who are raising young people to send them out into the world can only hope that they can find a safe path and a life that they find their own level of happiness in. Declan fought hard to find that path and to find that happiness but some illnesses simply overpower the human body and mind.The one thing that will never be in doubt and the one thing no illness will ever kill is the love Declan’s family had and will always have for him.Rest gently young man.SMRemembering Declan Doherty RIP was last modified: December 13th, 2019 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:curlsDeclan DohertykilmacrennanletterkennyMUSICsmilelast_img read more

‘Basic Four’ recommit to climate agenda

first_img26 January 2010Ministers from the “Basic Four” countries – South Africa, India, China and Brazil -have affirmed their commitment to work together for an agreed outcome at the United Nations Climate Change Summit in Mexico later this year.It follows up on the summit that was held in Copenhagen last month, where South Africa was represented by Water and Environmental Affairs Minister Buyelwa Sonjica.Sonjica was one of the ministers who met in New Delhi on Sunday to evaluate the inroads that were made in Copenhagen while also preparing for the Mexico round of talks.“The ministers underscored the centrality of the climate change framework process and the decision of the parties to carry forward the negotiations on the two tracks of ad hoc working group on long-term cooperative action,” read a statement issued by the group.They reiterated that all negotiations must be conducted in an inclusive and transparent manner.Setting bold targetsWhile the Copenhagen accord produced political commitments to mitigate climate change by some leaders, rich nations were slammed for their failure to set bold targets on greenhouse gas emissions.The members of the Basic Four group have already announced a series of voluntary mitigation actions for 2020 and have expressed their intention to communicate information on their voluntary mitigation actions to the United Nations Framework Convention on Climate Change (UNFCCC) by January 31.They also called for the early flow of the pledged US$10-billion in 2010 with focus on the least developed countries, small island developing states and countries of Africa, as proof of their commitment to urgently address the global challenge of climate change.The four ministers expressed hope of a successful conclusion of ongoing negotiations leading to Mexico.‘Show of commitment’The World Wide Fund for Nature (WWF) described the group’s early lead on continuing climate negotiations as a show of commitment shown by the countries to a fair and effective UN-based outcome to climate change this year.“South Africa is standing by its commitment to negotiate a multilateral agreement as part of the Africa Group and to maintain the two-track process under the UNFCCC,” said the organisation’s Richard Worthington.SAinfo reporter and BuaNewsWould you like to use this article in your publication or on your website?See: Using SAinfo materiallast_img read more

The Business Case for ‘Smaller Is Better’

first_imgBeing surrounding in the pages of GBA by a lot of folks whose credentials make mine pale in comparison, I have to be sure never to wander too far from home. And the perspective I am privileged to represent here is one of “Business Advisor,” which means you won’t see me straying too far afield into Building Science, Sustainable Design, or God knows else I would like to pontificate on but that may be outside my purview.Thus, when I consider “big vs. small: which is greener?” I want to respect the different directions this question can be approached from and focus my firepower on the business case for or against the subject at hand. And for me, it’s a no-brainer. When it comes to green, smaller is better. (Oops! I mean greener! Oh, well.) Here’s why.All things being equal, a smaller home will take less time to build than a larger home. A home built in less time means that the client moves in sooner, gets back to normal more quickly, is productive at work faster, and benefits from the energy efficiency and healthy features in the home more immediately. As well, the neighbors have the construction crews out of their lives that much faster, the local government is earning tax revenue, and the client’s kids are back in school earning straight As! And smaller homes require fewer resources to build and operate over the course of their lifetimes. Smaller jobs are completed fasterAll well and good, but where’s the business case for smaller is greener, you ask? Let’s be selfish here for a moment and consider why it is better for business to build smaller. Because a home built in less time means that I earn my compensation for building it more quickly. And if I can earn 12 months of salary in 11 months, even better. Building mansions and McMansions (green or otherwise) can have its own rewards — and in many cases, those rewards can be financial — but let’s put assumptions aside and look more closely.Does a $3M home built over 30 months make more sense than a $650K home built over five months? The former generates revenue of about $ 23K/weekly, and the latter, $32K/weekly. What about gross profit? When you look to see if a potential project is right for you, do you look at the gross profit it will generate for you on a weekly basis? I know having $3M on the books for the next 30 months has it own rewards, which cannot be overlooked (improved cash flow, an ability to pay down debt, freed up resources for long-term strategic planning, to name a few), but please do not let that override other important metrics. Calculate your anticipated gross profitFor a variety of reasons, I turned down the opportunity to bid on a custom ICF home earlier this year. It was a 90-minute drive from my office, the client insisted on a free bid, did not want to pay me for services, and only wanted to pay cost plus 10% on a $1.5M home! At the end of the phone call, I was very straightforward and explained that I could not go to my partners and justify the deal. A gross profit of $150K on a home that would take at least 12 months to build wouldn’t make sense when we could kick out five remodels for the same price and gross more than three times that in the same period of time. Not to mention we would have more net profit on the smaller projects because we would not have to drive so far and we would have a lot less liability exposure than if we were building a big ICF home.Turnover is the key, and if you don’t do the math, you may be tying up resources on projects that generate lower sales or gross profit dollars than could be generated elsewhere. Your Building Advisor is telling you: Big is not always better, and there is a lot of green to be made in building smaller!last_img read more

Brooks Koepka caps record week with US Open title

first_imgDon’t miss out on the latest news and information. What ‘missteps’? MOST READ 1 dead in Cavite blast, fire Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games World’s 50 Best Restaurants launches new drinking and dining guide Lacson: SEA Games fund put in foundation like ‘Napoles case’ “It was a long phone call for us — it was like two minutes,” Koepka said. “But he just said a few things, and just stay patient. And I’ll win if I stay patient and just keep doing what I’m doing.”What he did looked awfully familiar Sunday at Erin Hills, minus any mess involving the rules.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSMalditas save PH from shutoutWith athleticism and power, and four straight putts over the back nine that allowed him to pull away, Koepka capped off his hardscrabble journey around the world and found stardom at home as the U.S. Open champion.He closed with a 5-under 67, only realizing after his par on the final hole that a birdie would have set yet another U.S. Open record in a week filled with them. LATEST STORIES It’s not much different from Johnson.They are close friends on the golf course and in the gym, and they play a similar game of power off the tee, a clean strike with the iron and a knack for looking calm even as the pressure is ramping up.And now their names are on the U.S. Open trophy, one after the other.It capped quite a journey for the Floridian. Without a card on any tour when Koepka got out of Florida State, he filled his passport on the Challenge Tour with stamps from Kazakhstan to Kenya, Scotland and Spain, India and the Madeira Island.One night in Scotland, he called his agent and wanted to come home, even though he was leading the tournament. He had been on the road for so long, in so many different countries, and was feeling lonely. He won the next day to graduate to the European Tour. The next year, he earned a spot in the U.S. Open through a qualifier in England, and his tie for fourth at Pinehurst No. 2 helped him earn a card on the PGA Tour.Koepka took it from there — a victory in Turkey against a strong field, his first PGA Tour victory in the Phoenix Open, his first Ryder Cup and now a major championship.“To go over there, I think it helped me grow up a little bit and really figure out that, hey, play golf, get it done, and then you can really take this somewhere,” he said.Koepka became the seventh straight first-time winner of a major championship, and it was the first time since 1998-2000 that Americans won their national championship three straight years.Tommy Fleetwood, who played alongside Koepka and closed with a 72 to finish fourth, played the Challenge Tour a year before Koepka arrived.“It gives you a good grounding,” Fleetwood said. “Obviously, Brooks dealt with it amazingly. He came and kicked everyone’s (behind) over there, didn’t he? But he’s proven for a long time how good he is. Now he’s done it in a major.” View comments Heart Evangelista admits she’s pregnant… with chicken WATCH: Firefighters rescue baby seal found in parking garage Diana Taurasi stands alone atop WNBA scoring list Koepka finished at 16-under 272, matching the lowest score to par first set by Rory McIlroy six years ago at Congressional.Tied for the lead with six holes to play, Koepka holed an 8-foot par putt on the 13th hole that gave him confidence with his stroke and momentum to pour in birdies on the next three holes to turn the final hour into a celebration of another young star in golf.The 27-year-old Koepka wound up winning by four shots over Brian Harman, who was done in by back-to-back bogeys right when Koepka was making his run, and Hideki Matsuyama, who closed with a 66.“That’s probably the most emotion I’ve ever shown coming down the stretch,” Koepka said. “It feels amazing to get my name on this trophy with so many other great names. It’s truly an honor.”Emotion? The most he displayed was a light fist pump, his hand clenched a little tighter with each birdie, and a double fist pump on the 18th when he tapped in for par.ADVERTISEMENT It was only fitting that Koepka left Erin Hills with yet another record matched or broken.McIlroy finished at 16-under 268 when he won on rain-softened Congressional in the 2011 U.S. Open. But the low scoring went much deeper than that. Only six players had ever reached double digits under par in the previous 116 times at the U.S. Open. McIlroy and Tiger Woods (12 under at Pebble Beach in 2000) had been the only players to finish there.This week alone, nine players reached at least 10 under and seven finished there.Xander Schauffele, a rookie on the PGA Tour playing in his first U.S. Open, birdied his last hole for a 69 to tie for fifth at 10-under 268 along with Bill Haas (69) and Rickie Fowler (72), who was poised at yet another major to win only to fall back. Fowler started one shot out of the lead at the Masters this year and shot 76. He was only two behind when he made the turn, but bogeys on the 12th and 15th holes — and no birdies until No. 18 — ended his hopes.Justin Thomas, coming off a 9-under 63 that matched the major championship scoring record and was the first 9-under round at a U.S. Open, went out in 39 and closed with a 75 to tie for ninth.The week ended with 31 players under par, breaking the U.S. Open record of 28 players at Medinah in 1990. There were 133 sub-par rounds, nine more than the previous record in that 1990 U.S. Open.Sports Related Videospowered by AdSparcRead Next Jordan delivers on promise: 2 Cobra choppers now in PH Heart Evangelista admits she’s pregnant… with chicken Brooks Koepka reacts on the 18th hole during the fourth round of the U.S. Open golf tournament Sunday, June 18, 2017, at Erin Hills in Erin, Wis. (AP Photo/Chris Carlson)ERIN, Wis. — Brooks Koepka received a short piece of advice from a valuable source on the eve of the final round at the U.S. Open.Defending champion Dustin Johnson was doing most of the talking.ADVERTISEMENTlast_img read more

Important Role of Restorative Justice Highlighted

first_imgStory Highlights Coordinator of the Restorative Justice Unit in the Ministry of Justice, Dr. Kahilah Whyte, says restorative justice continues to play a pivotal role in circumventing conflicts in the Jamaica society. She was speaking at a Restorative Justice Youth Empowerment session, held at the Hilltop Juvenile Correctional Facility in Bamboo, St. Ann, on Tuesday, February 5. Coordinator of the Restorative Justice Unit in the Ministry of Justice, Dr. Kahilah Whyte, says restorative justice continues to play a pivotal role in circumventing conflicts in the Jamaica society.“It [restorative justice] continues to be important in the effort to circumvent what we commonly refer to as jungle justice here in Jamaica. Restorative justice really gives males, women and young people the opportunity to be heard. It allows for the victims to tell their truth [and] for the offender to hear how the crime they have committed has impacted not only the victim but the community at large,” Dr. Whyte said.She was speaking at a Restorative Justice Youth Empowerment session, held at the Hilltop Juvenile Correctional Facility in Bamboo, St. Ann, on Tuesday, February 5.Coordinator of the Restorative Justice Unit in the Ministry of Justice, Dr. Kahilah Whyte, speaking at a Restorative Justice Youth Empowerment Session, at the Hilltop Juvenile Correctional Facility in Bamboo, St. Ann, on Tuesday, February 5.center_img “It [restorative justice] continues to be important in the effort to circumvent what we commonly refer to as jungle justice here in Jamaica. Restorative justice really gives males, women and young people the opportunity to be heard. It allows for the victims to tell their truth [and] for the offender to hear how the crime they have committed has impacted not only the victim but the community at large,” Dr. Whyte said. Dr. Whyte informed that more persons are turning to restorative justice, with 810 conferences held at its 14 centres across the island in 2018. Of the 810 conferences conducted, 691 led to an agreement to resolve the conflict.“Currently, we have an 85 per cent agreement rate, which means that when victims and offenders get together, more often than not they will come up with an agreement. The agreement highlights tenets that they would like to have followed, whether it is restitution, the issue of an apology, doing some community service or giving back after a crime has been committed,” she noted.The session was held as part of activities to mark Restorative Justice Week, which is being observed from Sunday, February 3 to Friday, February 8, under the theme ‘A Restorative Approach to School to Prison Pipeline in Jamaica’.The 30-plus males at the Juvenile facility were educated on the value of restorative justice and how the process can be used to resolve conflicts.last_img read more

When Does It Make Sense To Trade Mike Trout

Welcome to the latest episode of Hot Takedown, our podcast where the hot sports takes of the week meet the numbers that prove them right or tear them down. On this week’s show (Feb. 16, 2016), we take a look at parity in men’s college basketball and the lack thereof on the women’s side, we wonder about the state of defense in the NBA All-Star Game and ask whether it’s always been this way, and we discuss whether the Los Angeles Angels should trade star player Mike Trout. Plus, a Significant Digit on Max Hooper, the Oakland University senior guard who shoots only threes.Stream the episode by clicking the play button, or subscribe using one of the podcast clients we’ve linked to above. Links to what we discussed are here:Ben Morris ranks every NBA All-Star.Neil Paine and Jonah Keri on how to build a great baseball team.Mike Trout wasn’t last season’s MVP, but he might be the G.O.A.T.Why baseball farm systems are important.Kate Fagan tells the Los Angeles Angels why they should trade Mike Trout if they get a haul in return.Significant Digit: 206. That’s the number of 3-point attempts by Oakland guard Max Hooper this year. He hasn’t tried a single 2-pointer.Max Hooper shooting bombs. More: Apple Podcasts | ESPN App | RSS Hot Takedown If you’re a fan of our podcasts, be sure to subscribe on Apple Podcasts and leave a rating/review. That helps spread the word to other listeners. And get in touch by email, on Twitter or in the comments. Tell us what you think, send us hot takes to discuss and tell us why we’re wrong. read more

Mens Hockey No 4 Ohio State ties 22 with No 15 Bowling

Then-junior forward Freddy Gerard celebrates as Mason Jobst scores an empty net goal during the third period of Ohio State’s 5-1 victory over Denver in the NCAA Tournament. Credit: Nick Hudak | For The LanternThe No. 4 Ohio State men’s hockey team skated to a 2-2 tie with No. 15 Bowling Green after dropping its first game to the Falcons on Friday night.Looking to get off to a better start than they did the night before, allowing eight goals and allowing the Falcons to convert on four of eight power play opportunities, the Buckeyes scored just six minutes into the game with a goal from junior forward Carson Meyer, his fourth of the season, with assists from senior defenseman Sasha Larocque and senior forward Freddy Gerard.After Meyer’s goal, Ohio State (3-2-1) retained the 1-0 lead until Bowling Green (5-1-1) junior forward Lukas Craggs tied the game up less than two minutes into the third period. The Falcons then scored on a power play with just under five minutes remaining to take the 2-1 lead, their first of the game.Though the penalties were still an issue for the Buckeyes, giving up five in regulation and one in overtime, the penalty kill for Ohio State allowed one power play goal on the six opportunities they gave the Falcons.After giving up the lead, Gerard scored for the Buckeyes with less than three minutes remaining in regulation. He was assisted on the goal by Meyer and senior forward Mason Jobst. This was Gerard’s second goal of the season and both he and Meyer’s second points of the game. The game remained tied as regulation came to an end. In overtime, neither team was able to score to finalize the 2-2 tie. Each team had three shots in overtime and overall Bowling Green outshot Ohio State 30-25.Offensively, the Buckeyes didn’t convert any of their four power play attempts during the game. Through their first six games, Ohio State has only scored on four of its 30 power plays. The .133 success rate is No. 47 in the nation.Sophomore goaltender Tommy Nappier allowed two goals on 30 shots, both of which came in the third period. No. 4 Ohio State will stay on the road next weekend against No. 1 Notre Dame, with the puck dropping at 7:30 p.m. on Friday and Saturday. read more

Jurgen Klopp on Dejan Lovrens injury

first_imgJürgen Klopp has given an update on Dejan Lovren who is set to face a short spell on the sidelines due to a pelvis issueDejan Lovren returned to Melwood earlier this week but failed to participate in the club’s training due to the problem. He is likely to miss Liverpool’s upcoming fixtures.However, Klopp is anticipating Lovren will be back in training shortly, telling his post-match press conference following the Reds’ win over West Ham United: “He is not fit. Let me say it like this, last year he already had a few problems with that, but he could obviously play – and played really good.Roberto Firmino, LiverpoolVirgil van Dijk praises Roberto Firmino after Liverpool’s win Andrew Smyth – September 14, 2019 Virgil van Dijk hailed team-mate Roberto Firmino after coming off the bench to inspire Liverpool to a 3-1 comeback win against Newcastle United.“Recovery days were always enough then it was not a problem, and he was in the next session again. We did not train a lot in the end of the season, of course, because we were more or less constantly playing, but he played constantly.“Now in the World Cup, [playing] three times [for] 120 minutes it got a bit worse, but I am pretty sure it will settle in the next one, two or three weeks. In that time he can probably for sure train already, but not the full programme, so that will then take time.“In the end, it is serious but not that serious, so it’s not that we need to be afraid that it will take him until whenever. At the moment he is not available, that’s true.”last_img read more