Mr Carter, a former peanut farmer, served one term in the White House between 1977 and 1981, taking over in the wake of the Watergate scandal and the end of the Vietnam War. After his defeat by Ronald Reagan, he spent his post-presidency years as a global humanitarian, winning the Nobel Peace Prize in 2002. His death on Sunday was announced by his family and came more than a year after he decided to enter hospice care. He was the longest-lived US president. His son, Chip Carter, said: “My father was a hero, not only to me but to everyone who believes in peace, human rights and unselfish love. “My brothers, sister and I shared him with the rest of the world through these common beliefs. “The world is our family because of the way he brought people together, and we thank you for honouring his memory by continuing to live these shared beliefs.” Mr Carter is expected to receive a state funeral featuring public observances in Atlanta and Washington DC before being buried in his home town of Plains, Georgia. A moderate democrat born in Plains in October 1924, Mr Carter’s political career took him from the Georgia state senate to the state governorship and finally the White House, where he took office as the 39th president. His presidency saw economic disruption amid volatile oil prices, along with social tensions at home and challenges abroad including the Iranian revolution that sparked a 444-day hostage crisis at the US embassy in Tehran. But he also brokered the Camp David Accords between Egypt and Israel, which led to a peace treaty between the two countries in 1979. After his defeat in the 1980 presidential election, he worked for more than four decades leading the Carter Centre, which he and his late wife Rosalynn co-founded in 1982 to “wage peace, fight disease, and build hope”. Mrs Carter, who died last year aged 96, had played a more active role in her husband’s presidency than previous first ladies, with Mr Carter saying she had been “my equal partner in everything I ever accomplished”. Earlier this year, on his 100th birthday, Mr Carter received a private congratulatory message from the King, expressing admiration for his life of public service.The New York Rangers are still desperately seeking answers following their blockbuster trade of captain Jacob Trouba earlier this month. They'll try to regain some stability when they visit the Florida Panthers on Monday evening in Sunrise, Fla. New York is 3-8-0 since trading Trouba to the Anaheim Ducks on Dec. 6 in a roster shakeup that hasn't ignited anybody. They've dropped three in a row and six of seven, most recently losing at the Tampa Bay Lightning 6-2 on Saturday. "Right now, it's just frustrating," New York coach Peter Laviolette said. "We're in the business of winning hockey games and we're not getting it done right now, so it's tough to sit here and tell you good things. We're losing hockey games. We need to win hockey games and we're not getting that done." New York had high expectations after reaching the Eastern Conference finals for the second time in three years last season. Hopes of getting past that hurdle and reaching the Stanley Cup Final for the first time since 2014 were heightened after the Rangers improved to 12-4-1 with a 4-3 win at the Vancouver Canucks on Nov. 19. They haven't won two games in a row since. "Result-wise, this is not what we wanted," Rangers center Mika Zibanejad said. "We can talk about a reset, we can talk about whatever, but if the result is not there, it's not going to matter." In the loss to the Lightning, special teams once again played a big role. The Rangers went 0-for-4 on the power play while Tampa Bay went 2-for-5. "We don't score on our power play, we let in two goals, we put ourselves in a bad spot," Zibanejad said. "I don't think that's the effort. I don't think that's the team itself or how we came out, how we started. I don't think that's why we lose a game. We had (44) shots, we've got to get in front of a few more and get some quality chances, but I thought we did. It's frustrating." The Rangers will face a hungry Florida team that has been shut out the past two games, the second time that's happened this month. "Yeah, there is something to that. We are playing the perimeter game for the most part," Panthers coach Paul Maurice said. "That has a lot to do with it." The Panthers most recently fell to the visiting Montreal Canadiens 4-0 on Saturday afternoon, failing to get one past a goalie making his NHL debut in Jakub Dobes. "I don't think we are going to dwell on this one, just kind of move on," Florida forward Sam Bennett said. "Mistakes are going to be made. It's about how you help each other and fix them. We are just going to move on from this game." Sergei Bobrovsky will start in goal for the Panthers. He's 5-2 in seven starts this month with a 2.24 goals-against average and a .910 save percentage. He made 24 saves in a 3-1 win against the Rangers on Oct. 24. Overall, the two-time Vezina Trophy winner is 15-12-3 in 31 career starts against New York with a 2.83 GAA, a .908 save percentage and one of his 45 career shutouts. Rangers goalie Igor Shesterkin was pulled after giving up five goals on 13 shots in 28:08 against the Lightning. He took the loss against Florida in October while making 26 saves and is 4-3-0 with a 2.87 GAA and a .915 save percentage against the Panthers all-time. --Field Level MediaPRINCETON, N.J., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) ("Company”) today announced that it has entered into a binding agreement to acquire the operational Tuolumne Wind Project from Turlock Irrigation District. Tuolumne Wind Project is a 137 MW wind project located in Klickitat County, WA that achieved commercial operations in 2009. The project will sell power under a new PPA with Turlock Irrigation District, an investment-grade regulated entity, with an initial contract term of 15 years to 2040. In conjunction with the acquisition, the Company also has received from Turlock Irrigation District a contractual extension option to enable a potential future repowering of the project. After factoring in estimated closing adjustments and new non-recourse project-level debt, the Company expects its total long-term corporate capital commitment to acquire the project to be approximately $70-75 million, which the Company expects to fund with existing sources of liquidity. Based on current expected terms and conditions of the new non-recourse financing, the acquisition is expected to provide incremental annual levered asset CAFD on a five-year average basis of approximately $9 million beginning January 1, 2026. The Company expects the transaction to close in the first quarter of 2025, after which its targeted contribution to fiscal year 2025 results will be communicated. "Clearway continues its successful track record of executing accretive, third-party acquisitions. We look forward to providing clean, reliable electricity to Turlock Irrigation District and its customers for years to come. Additionally, this transaction, along with other recent investments, underscores Clearway's expanding presence in Western states alongside our historical core in California, contributing further to our strong incumbency in these attractive markets for clean power,” said Craig Cornelius, Clearway Energy, Inc.'s President and Chief Executive Officer. "We are also pleased to note that this acquisition is the next step in our path to meeting our long-term financial objectives, including our goal to deliver the midpoint or better of $2.40 to $2.60 in CAFD per share in 2027.” About Clearway Energy, Inc. Clearway Energy, Inc. is one of the largest owners of clean energy generation assets in the US and is leading the transition to a world powered by clean energy. Our portfolio comprises approximately 11.7 GW of gross capacity in 26 states, including 9 GW of wind, solar, and battery energy storage and over 2.7 GW of conventional dispatchable power capacity providing critical grid reliability services. Through our diversified and primarily contracted clean energy portfolio, Clearway Energy endeavors to provide our investors with stable and growing dividend income. Clearway Energy, Inc.'s Class C and Class A common stock are traded on the New York Stock Exchange under the symbols CWEN and CWEN.A, respectively. Clearway Energy, Inc. is sponsored by our controlling investor, Clearway Energy Group LLC. For more information, visit investor.clearwayenergy.com. Safe Harbor Disclosure This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as "expect,” "estimate,” "target," "anticipate,” "forecast,” "plan,” "outlook,” "believe” and similar terms. Such forward-looking statements include, but are not limited to, statements regarding, Clearway Energy, Inc.'s (the "Company's”) dividend expectations and its operations, its facilities and its financial results, statements regarding the likelihood, terms, timing and/or consummation of the transactions described above, the potential benefits, opportunities, and results with respect to the transactions, including the Company's future relationship and arrangements with Global Infrastructure Partners, TotalEnergies, and Clearway Energy Group (collectively and together with their affiliates, "Related Persons”), as well as the Company's Net Income, Adjusted EBITDA, Cash from Operating Activities, Cash Available for Distribution, the Company's future revenues, income, indebtedness, capital structure, strategy, plans, expectations, objectives, projected financial performance and/or business results and other future events, and views of economic and market conditions. Although the Company believes that the expectations are reasonable at this time, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, the Company's ability to maintain and grow its quarterly dividend, impacts related to COVID-19 (including any variant of the virus) or any other pandemic, risks relating to the Company's relationships with its sponsors, the failure to identify, execute or successfully implement acquisitions or dispositions (including receipt of third party consents and regulatory approvals), risks related to hazards customary in the power industry, weather conditions, including wind and solar performance, the Company's ability to operate its businesses efficiently, manage maintenance capital expenditures and costs effectively, and generate earnings and cash flows from its asset-based businesses in relation to its debt and other obligations, the willingness and ability of counterparties to the Company's offtake agreements to fulfill their obligations under such agreements, the Company's ability to enter into new contracts as existing contracts expire, changes in government regulations, operating and financial restrictions placed on the Company that are contained in the project-level debt facilities and other agreements of the Company and its subsidiaries, and cyber terrorism and inadequate cybersecurity. Furthermore, any dividends are subject to available capital, market conditions, and compliance with associated laws and regulations. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The Cash Available for Distribution are estimates as of today's date and are based on assumptions believed to be reasonable as of this date. The Company expressly disclaims any current intention to update such guidance. The foregoing review of factors that could cause the Company's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect the Company's future results included in the Company's filings with the Securities and Exchange Commission at www.sec.gov. In addition, the Company makes available free of charge at www.clearwayenergy.com, copies of materials it files with, or furnishes to, the Securities and Exchange Commission. Contacts: Appendix Table A-1: Adjusted EBITDA and Cash Available for Distribution Reconciliation The following table summarizes the calculation of Estimated Cash Available for Distribution and provides a reconciliation to Net Income/(Loss): Non-GAAP Financial Information EBITDA and Adjusted EBITDA EBITDA, Adjusted EBITDA, and Cash Available for Distribution (CAFD) are non-GAAP financial measures. These measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. The presentation of non-GAAP financial measures should not be construed as an inference that Clearway Energy's future results will be unaffected by unusual or non-recurring items. EBITDA represents net income before interest (including loss on debt extinguishment), taxes, depreciation and amortization. EBITDA is presented because Clearway Energy considers it an important supplemental measure of its performance and believes debt and equity holders frequently use EBITDA to analyze operating performance and debt service capacity. EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Some of these limitations are: Adjusted EBITDA is presented as a further supplemental measure of operating performance. Adjusted EBITDA represents EBITDA adjusted for mark-to-market gains or losses, non-cash equity compensation expense, asset write offs and impairments; and factors which we do not consider indicative of future operating performance such as transition and integration related costs. The reader is encouraged to evaluate each adjustment and the reasons Clearway Energy considers it appropriate for supplemental analysis. As an analytical tool, Adjusted EBITDA is subject to all of the limitations applicable to EBITDA. In addition, in evaluating Adjusted EBITDA, the reader should be aware that in the future Clearway Energy may incur expenses similar to the adjustments in this news release. Management believes Adjusted EBITDA is useful to investors and other users of our financial statements in evaluating our operating performance because it provides them with an additional tool to compare business performance across companies and across periods. This measure is widely used by investors to measure a company's operating performance without regard to items such as interest expense, taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired. Additionally, Management believes that investors commonly adjust EBITDA information to eliminate the effect of restructuring and other expenses, which vary widely from company to company and impair comparability. As we define it, Adjusted EBITDA represents EBITDA adjusted for the effects of impairment losses, gains or losses on sales, non-cash equity compensation expense, dispositions or retirements of assets, any mark-to-market gains or losses from accounting for derivatives, adjustments to exclude gains or losses on the repurchase, modification or extinguishment of debt, and any extraordinary, unusual or non-recurring items plus adjustments to reflect the Adjusted EBITDA from our unconsolidated investments. We adjust for these items in our Adjusted EBITDA as our management believes that these items would distort their ability to efficiently view and assess our core operating trends. In summary, our management uses Adjusted EBITDA as a measure of operating performance to assist in comparing performance from period to period on a consistent basis and to readily view operating trends, as a measure for planning and forecasting overall expectations and for evaluating actual results against such expectations, and in communications with our Board of Directors, shareholders, creditors, analysts and investors concerning our financial performance. Cash Available for Distribution A non-GAAP measure, Cash Available for Distribution is defined as of September 30, 2024 as Adjusted EBITDA plus cash distributions/return of investment from unconsolidated affiliates, cash receipts from notes receivable, cash distributions from noncontrolling interests, adjustments to reflect sales-type lease cash payments and payments for lease expenses, less cash distributions to noncontrolling interests, maintenance capital expenditures, pro-rata Adjusted EBITDA from unconsolidated affiliates, cash interest paid, income taxes paid, principal amortization of indebtedness, changes in prepaid and accrued capacity payments, and adjusted for development expenses. Management believes CAFD is a relevant supplemental measure of the Company's ability to earn and distribute cash returns to investors. We believe CAFD is useful to investors in evaluating our operating performance because securities analysts and other interested parties use such calculations as a measure of our ability to make quarterly distributions. In addition, CAFD is used by our management team for determining future acquisitions and managing our growth. The GAAP measure most directly comparable to CAFD is cash provided by operating activities. However, CAFD has limitations as an analytical tool because it does not include changes in operating assets and liabilities and excludes the effect of certain other cash flow items, all of which could have a material effect on our financial condition and results from operations. CAFD is a non-GAAP measure and should not be considered an alternative to cash provided by operating activities or any other performance or liquidity measure determined in accordance with GAAP, nor is it indicative of funds available to fund our cash needs. In addition, our calculations of CAFD are not necessarily comparable to CAFD as calculated by other companies. Investors should not rely on these measures as a substitute for any GAAP measure, including cash provided by operating activities.
Blowout loss to Packers leaves the 49ers on the playoff brinkQuestions surround QB Quinn Ewers as Texas faces must-win game against A&M
(The Center Square) - California Gov. Gavin Newsom said if President-elect Donald Trump ends the $7,500 electric vehicle rebate program, he’ll get Californians to pay for new credits. However, the credits would not include Tesla, which is the most popular EV company and the only EV manufacturer in the state. This comes weeks after Newsom and his administration passed new refinery and carbon credit regulations that will add up to $1.15 per gallon of gasoline and require Californians with gasoline-powered cars to earn up to another $1,000 per year in pretax income to afford. “We will intervene if the Trump Administration eliminates the federal tax credit, doubling down on our commitment to clean air and green jobs in California,” said Newsom in a statement. Tesla CEO Elon Musk, whose rocket launches were recently blocked by a California regulatory board that cited his personal politics, shared his disapproval on his social media platform, X, after Newsom staff told Bloomberg that Tesla models would not qualify for California rebates. “Even though Tesla is the only company who manufactures their EVs in California,” said Musk. “This is insane.” Musk recently moved SpaceX and X out of California, citing a new law signed by Newsom banning parental notification for gender change requests from K-12 students. The credits would be paid for through California’s cap-and-trade program, which requires carbon emitters to purchase credits from the state — costs which are generally passed on to consumers in the form of more expensive gasoline, energy, and even concrete. Emitters buy a few billion dollars worth of credits from California each year, with the state’s $135 billion high speed rail project getting the lion’s share of the revenue. The California Resources Board — all but two of whose voting members are appointed by the governor — recently approved $105 billion in EV charging credits and $8 billion in hydrogen charging credits to be largely paid for by drivers of gas cars and diesel trucks. An investigation by The Center Square found the change was pushed by EV makers and the builders of EV charging systems. Buyers of EV chargers, who pay for the energy and own the charger, sign installation contracts that permanently give away their rights to government or other EV charging credits generated from fueling a vehicle with electrons instead of gasoline. These chargers are often bundled with the purchase of an EV, or covered entirely by utility or government rebates, meaning they are permanent, zero-or-low-cost revenue streams for the company collecting the credits. Get any of our free email newsletters — news headlines, sports, arts & entertainment, state legislature, CFD news, and more.
METAIRIE, La. (AP) — If Saints interim coach Darren Rizzi has any definite ideas about who'll play quarterback for New Orleans against Washington on Sunday, he's not ready to share that information. Rizzi maintained on Wednesday that there's still a chance that Derek Carr could clear the concussion protocol and function well enough with his injured, non-throwing left hand to return against the Commanders. Meanwhile, reserve QBs Jake Haener and Spencer Rattler split first-team snaps during Wednesday's practice, which Carr missed, Rizzi said. “We're not going to name a starter right now,” said Rizzi, who also made a point of noting that Carr would not be placed on the club's injured reserve list and would not need surgery. “We're going to see how that progression plays out, first with Derek and then obviously with Jake and Spencer.” Carr, whose latest injury occurred when he tried to dive for a first down during Sunday's 14-11 victory over the New York Giants , has already missed three starts this season because of a separate, oblique injury. New Orleans lost all three of those games, with Rattler, a rookie, starting and Haener, a second-year pro, serving as the backup. In his three starts, Rattler completed 59 of 99 passes (59.6%) for 571 yards, one TD and two interceptions. Haener has gotten sporadic work this season in relief of both Carr and Rattler, completing 14 of 29 passes (48.3%) for 177 yards and one TD without an interception. Rizzi said he finds the 6-foot-1 Haener and 6-foot Rattler “very similar in a lot of ways," adding that whichever of those two might play “doesn't change a whole bunch" in terms of game-planning. “They're both similar-size guys. Their athletic ability is very similar,” Rizzi said. “They're similar-style quarterbacks. We're not dealing with opposites on the spectrum.” The Saints also signed another QB this week — Ben DiNucci — to help take scout team snaps at practice, now that Rattler and Haener are not as available to do that while competing to possibly start if Carr is indeed unable to play. The Saints (5-8) have won three of four games since Rizzi took over following the firing of coach Dennis Allen. That allowed New Orleans to remain alive in the NFC South Division, currently led by Tampa Bay (7-6). Rizzi said Carr has not had any setbacks this week in terms of progressing through the NFL's concussion protocol. “By the end of the week, if's he's not able to get any reps in any form or fashion, then obviously we'll go with one of the other guys,” Rizzi said. NOTES: RB Alvin Kamara did not practice on Wednesday because of an illness. ... WR Chris Olave, who is out indefinitely because of concussions this season, has returned to meetings at Saints headquarters. He as not, however, made plans to return to practice yet because he still plans to meet first with neurological specialists to try to assess the risks of returning to action during what's left of this season. Rizzi said the possibility of Olave playing again this season remains “on the table” for now. AP NFL: https://apnews.com/hub/NFLA special election will be held next year for the vacant 36th state Senate district seat. The primary will be held on Tuesday, Feb. 25, and the general election will take place on Tuesday, April 29, per Gov. Gavin Newsom’s proclamation ordering the special election. The 36th state Senate district — which spans Orange and Los Angeles counties — was most recently represented by Republican Janet Nguyen , who was sworn in last week as Orange County’s First District supervisor . The district is predominantly coastal, stretching from Seal Beach down to San Clemente. It stretches inland to include Cypress, Fountain Valley, Garden Grove and Westminster in Orange County, as well as Artesia and Cerritos in Los Angeles County. Republicans account for 37.11% of registered voters in the district, as of the secretary of state’s latest tally on Oct. 21 , and Democrats make up 33.93% while 22.61% are no party preference. Huntington Beach Councilmember Tony Strickland, a Republican, has already launched a bid for the seat . He previously spent 10 years in the California Legislature where he represented parts of Ventura and Santa Barbara counties. The governor’s proclamation Tuesday also set a special election on the same dates for the 32nd Assembly district seat, which was represented by now-Rep. Vince Fong. The San Joaquin Valley Republican had been on the ballot twice in November, for the Assembly seat as well as the House seat to replace former Speaker Kevin McCarthy. Staff writer Hanna Kang contributed to this report.
Cyber-espionage group ‘ Salt Typhoon ’ targeting ‘at least’ eight US telecom and telecom infrastructure firms, according to The Guardian . U.S. government agencies have held a classified briefing for the House of Representatives on Salt Typhoon. This was the largest intelligence compromise in US history and it sparked a call to all U.S. citizens to switch to encrypted communications. Providing insights on Salt Typhoon and how organizations can proactively defend against APTs for Digital Journal is Renuka Nadkarni, Chief Product Officer at Aryaka . Nadkarni explains why the recent incident carries potential concerns for businesses: “Events like Salt Typhoon underscore how enterprises and users remain susceptible to breaches due to dependencies on external infrastructure. As distributed applications increasingly rely on public clouds, SaaS, and global service providers for computing, storage, and networking, organizations face expanding attack surfaces outside of their control. Breaches become a matter of “when” not “if.” There are structural reasons why vulnerabilities occur, linked to organizational setup and culture. Here Nadkarni reasons: “Many organizations rely on fragmented solutions from various vendors, leading to a lack of integration and limited visibility across their infrastructure, making it challenging to detect hidden malware. There is a lack of visibility due to complex environments such as sprawling IT systems with numerous endpoints, servers, and cloud integrations, which makes monitoring harder. Many organizations don’t log enough data or retain it long enough to trace the full extent of the compromise.” As a solution, streamlining is key. Nadkarni thinks: “Operational simplicity remains key for organizations to detect Salt Typhoon activity. These processes can become burdensome and difficult to sustain. Establishing clear roles and responsibilities for managing security policies and procedures is essential to maintaining an effective and manageable defence.” There are other measures that can be taken. Nadkarni recommends: “In addition to the guidance released by the FBI and CISA, organizations should adopt a zero-trust architecture that requires authentication and authorization for every access request, to help limit lateral movement and minimize the impact of a breach.” Furthermore, Nadkarni proposes: “Additionally, organizations should prioritize threat hunting by monitoring known APT-related indicators of compromise (IOCs) and indicators of Attack (IOAs). By utilizing network segmentation and AI-driven automation, organizations can quickly detect, triage, and respond to APT activity.” Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news.Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.
Percentages: FG .526, FT .625. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
With an estimated 14.2 trillion cubic metres (Tcm) of gas reserves in place plus 18 billion barrels of gas condensate, Iran’s 3,700-square kilometre (sq.km) South Pars gas field is one part of the world’s largest gas field. The other is Qatar’s 6,000-square km North Dome, with around 36.8 Tcm of gas reserves in place and about 32 billion barrels of gas condensate. Split into 24 Phases for development, with production targets ranging from 28 million cubic metres per day (mcm/d) to 57 mcm/d, it is the fortunes of Iran’s South Pars Phase 11 that have become emblematic of the Islamic Republic’s attempts to navigate around the sanctions imposed on it at various points since the 1979 Revolution. According to the chief executive officer of the Islamic Republic’s Pars Oil and Gas Company, Touraj Dehghani, gas production from Phase 11 is now rising, and its output will reach a capacity of 28 mcm/d in the next few weeks. Production increases are also expected by Iran’s Petroleum Ministry in other Phases of the South Pars field, a senior energy sector source who works closely with the Ministry exclusively told OilPrice.com last week. According to the source, two key factors conspire in this optimism in Iranian quarters. The first is Qatar’s more constructive approach to gas extraction across the entire reservoir’s maritime border area in the Persian Gulf. “In early 2017 before Qatar lifted the moratorium on production from the North Dome [in place since 2005], the two sides [Iran and Qatar] has discussed the optimal ways of proceeding with developing the joint reservoir, in light of claims that Iran had been excavating gas in a way that might damage the longevity of both fields [South Pars and North Dome],” said the Iran source. “It was agreed that they would more closely coordinate activities once Qatar lifted its production moratorium [in April 2005], but even from then Qatar has claimed that Iran has continued to use damaging production practices, and with some justification,” he added. “A big part of the problem was that when sanctions were reinforced again in 2018 [after the U.S. unilaterally withdrew from the Joint Comprehensive Plan of Action, JCPOA or ‘nuclear deal’] the local firms did not have the skill, experience, technology, or machinery to take up where the foreign firms had left off, and they were also under pressure to drill more to monetise the gas,” he told OilPrice.com last week. “This meant they often rushed the excavations without much thought to maintaining the structural integrity of the wells, and this has significantly affected future output from several of them,” he continued. That said, senior oil and gas industry figures from both sides met again last month to reinstitute better excavation practices on both sides. This followed recent assessments from Iran’s own National Development Fund that its gas production will fall by at least 25 percent within the next 10 years due to falling pressure in the fields, with South Pars seeing a 30 percent decline. if(window.innerWidthADVERTISEMENTfreestar.config.enabled_slots.push({ placementName: "oilprice_medrec_atf", slotId: "oilprice_medrec_atf" });';document.write(write_html);} Related: OPEC Cuts Oil Demand Projections A 5th Straight Month These developments tie into the second factor for Iran’s renewed optimism over Phase 11 of South Pars and for the huge field as a whole. In March, the Petroleum Ministry finalised a US$20 billion programme to build 28 massive platforms to boost pressure on the South Pars site, initially being spearheaded by several local firms. However, following the recent meeting with Qatari officials, some technical support is anticipated to come from the Emirate, which in turn has encouraged further help from Chinese and Russian firms still working across the South Pars development. Originally, Beijing had been a keen participant in the newly-reopened commercial possibilities available in Iran after Implementation Day of the Joint Comprehensive Plan of Action (JCPOA, or colloquially ‘the nuclear deal’) on 16 January 2016, especially in its huge oil and gas sector. However, at that point the bulk of the best contracts went to Western firms, with France’s then-Total being the 50.1 percent stake holder in Phase 11, with the China National Petroleum Corporation (CNPC) having a 30 percent stake, and the remaining 19.9 percent being held by Iran’s Petropars. Despite having invested around US$1 billion and moved the Phase 11 project on significantly from essentially a standing start, Total was pressured to exit the project after the U.S. withdrew from the JCPOA in May 2018. CNPC at that stage added Total’s stake in Phase 11 to its own, under the terms of the contract, but was itself forced to pull out as tension between the U.S. and China escalated in the Trade War under then-President Donald Trump. From that point, Beijing’s involvement in several major Iranian oil and gas projects has focused on multiple ‘contract-only’ projects, such as drilling-only, field maintenance-only, parts replacement-only, storage-only, technology-only, and so on, as analysed in depth in my latest book on the new global oil market order . As it stood just after CNPC’s official withdrawal from Phase 11 in October 2019, according to comments at the time from Reza Dehghan, the National Iranian Oil Company’s deputy chief executive officer for engineering, 40 such ‘contract-only’ work projects had been defined for the implementation of Phase 11’s drilling operations. Phase 11’s original target production capacity was 57 mcm/d and this is still seen as the ultimate output goal to many in the Petroleum Ministry, according to the Iran source. Output from the site is also still intended to be one of several key supply sources for the roll-out of an eventually world-scale liquefied natural gas (LNG) business for Iran. Given that LNG has become the world’s swing energy supply since Russia’s invasion of Ukraine on 24 February 2022, these plans are still in play. At the end of January, the Petroleum Ministry stated that it intends to begin 1.5 million metric tonnes per year (mtpy) of LNG production at a medium-sized plant at Asaluyeh in 2026. However, it is to be built on the site of the original much-larger ‘Iran LNG Project’ around Tombak Port, around 30 miles north of Asaluyeh itself. This will ultimately draw on gas from South Pars and from North Pars, which has a conservatively estimated recoverable volume of gas of approximately 47 trillion cubic feet. Again, an early entrant to the original Iran LNG Project was the China National Offshore Oil Corporation (CNOOC), which signed a memorandum of understanding (MoU) in September 2006 with the National Iranian Oil Corporation (NIOC) to develop the North Pars gas field with a view to building out an LNG capability there. This deal was extended in December 2006 to incorporate the development of a four-train (LNG liquefaction and purification facility) complex with a 20 mtpy capacity, before slow progress on CNOOC’s part prompted the NIOC to suspend the deal. At that point, just before the U.S. and European Union (E.U.) ramped up sanctions against Iran in 2011/12, German chemicals giant Linde Group took over the main development of the Iran LNG Project. Within a relatively short time, Linde Group had 60 percent-completed the US$3.3 billion flagship LNG export facility that was set to produce at least 10.5 mtpy of LNG, with expectations that it would take less than a year to finish. Again, though, due to further later sanctions, progress on the Project stalled again. With U.S. sanctions firmly back in place in 2018, Russia’s Gazprom signed two MoUs with the NIOC concerning the rollout of a two-fold joint strategy regarding Iran’s gas, as also analysed in depth in my latest book on the new global oil market order . The first part was a gas cooperation roadmap between the two companies, and the second part detailed the construction of Iranian LNG facilities in partnership with Iran’s Oil Industry Pension Fund. Initially, this would allow Gazprom to, in effect, take over from Linde on the existing 60 percent-complete LNG complex and later to be integral in the construction of the mini-LNG complexes. Iran and Russia reasoned that mini-LNG complexes – with production capacities ranging from 2,000 to 500,000 tons of LNG per year, compared to a typical large scale plant capacity of between 2.5 and 7.5 million tons per year – would be less vulnerable to U.S. or Israeli attacks. Gazprom would take payment for its work from the sale of gas both from this complex and from part of the output from fields feeding gas into it. As it stands, according to the Iran source, the North Pars field development will be the focus of LNG development efforts at this point, with investment at Phase 11 from China and Russia focused on stabilising the 28 mcm/d production level and then gradually increasing it to the original target of 57 mcm/d. If successful, the method of cooperation between Iran, China, Russia, and Qatar will be used on other Phases of the South Pars site, the Iran source concluded. if(window.innerWidth ADVERTISEMENTfreestar.config.enabled_slots.push({ placementName: "oilprice_medrec_btf", slotId: "oilprice_medrec_btf" });`;document.write(write_html);} By Simon Watkins for Oilprice.com More Top Reads From Oilprice.com
Canada not a significant source of fentanyl flowing into U.S., CBSA says
NEW YORK (AP) — Major League Baseball switched a pair of series involving the Tampa Bay Rays to the first two months of the season in an attempt to avoid summer rain at open-air Steinbrenner Field, their temporary home following damage to Tropicana Field. Tampa Bay is scheduled to play 19 of its first 22 games at home and 37 of 54 through May 28, then play 64 of its last 108 games on the road. The Rays are home for eight games each in July and August. A series scheduled at the Los Angeles Angels from April 7-9 will instead be played at Tampa, Florida, from April 8-10, MLB said Monday. The second series between the teams will be played at Anaheim, California, from Aug. 4-6 instead of at St. Petersburg, Florida, from Aug. 5-7. Minnesota's first series against the Rays will be played at Steinbrenner Field from May 26-28 and the Twins' second will be at Target Field in Minneapolis from July 4-6. Tampa Bay heads into the All-Star break with a 10-game trip to Minnesota, Detroit and Boston, and has a 12-game trip to the Angels, Seattle, Oakland and San Francisco from Aug. 4-17. Tropicana Field, the Rays’ home since the team started play in 1998, was heavily damaged by Hurricane Milton on Oct. 9 , with most of its fabric roof shredded. The Rays cannot return to the Trop until 2026 at the earliest, if at all. Tampa's average monthly rainfall from 1991 to 2020 was 2.25 inches in April and 2.60 in May , according to the National Weather Service, then rose to 7.37 in June , 7.75 in July and 9.03 in August before falling to 6.09 in September . The Class A Tampa Tarpons, the usual team at Steinbrenner Field, had six home postponements, two cancellations and four suspended games this year from June 21 through their season finale on Sept. 8. The Rays are now scheduled to play their first six games at home against Colorado and Pittsburgh, go to Texas for a three-game series, then return for a 13-game homestand against the Angels, Atlanta, Boston and the New York Yankees. The Tarpons will play their home games on a back field. AP MLB: https://apnews.com/
Tweet Facebook Mail A 19-year-old Perth man has been charged with a range of offences and his car impounded after he allegedly performed burnouts near members of the public. On November 18, Western Australia Police became acquainted with vision online that appeared to show a white Ford Falcon ute doing burnouts in the middle of Abernethy Road, Byford, and in a nearby shopping centre carpark. The alleged reckless driving took place on November 16 at about 9.50pm, police say. READ MORE: Woman dies after being found with burns in unit block stairwell Police in Perth impounded a ute they allege was used to do burnouts in a shopping centre carpark. (WA Police) Several wheels and a trolley jack appeared unrestrained in the tray of the ute, and spilled onto the road. Several spectators and members of the public were in the vicinity at the time. On Saturday, November 23, police executed a search warrant at a home in Seville Grove and allegedly found ammunition and the Ford ute. READ MORE: Blackout fears in two states with generators offline for scorching heat The driver had allegedly tried to disguise the car. (WA Police) Police allege the accused tried to conceal the car by removing the tray and spray-painting it a different colour. The ute was impounded. A 19-year-old man has been charged with multiple driving offences and ammo possession. He is due to appear in court on December 4. DOWNLOAD THE 9NEWS APP : Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play .Drone mystery deepens with Chinese man's troubling Google history after his arrest for 'flying over US base'Former President Jimmy Carter, honored more widely for his humanitarian work around the globe after his presidency than for his White House tenure during a tumultuous time, has died. He was 100. “Our founder, former U.S. President Jimmy Carter, passed away this afternoon in Plains, Georgia,” the Carter Center confirmed on Sunday. In November 2023, the Nobel Peace Prize-winner’s wife of 77 years, Rosalynn, also passed away in the modest house they built together in 1961, when he had taken over his father’s peanut warehouse business and was only beginning to consider a political career. In February 2023, he had announced he was ending medical intervention and moving to hospice care. Jason Carter had visited his grandparents at the time of the announcement and said “They are at peace and – as always – their home is full of love,” he posted on Twitter. At peace, perhaps, but still political: The former president vowed he wanted to cast a ballot for Vice President Kamala Harris in the 2024 presidential election. After serving a single term in the White House, Jimmy Carter became one of the most durable figures in modern American politics. Evicted from the White House at age 56, he would hold the status of former president longer than anyone in U.S. history, and in 2019 he surpassed George H. W. Bush as the nation’s oldest living ex-president. Carter remained remarkably active in charitable causes through a series of health challenges during his final years, including a bout with brain cancer in 2015. He was admitted to Emory University Hospital in Atlanta in November 2019 for a procedure to relieve pressure on his brain, a consequence of bleeding that followed a series of falls. A few months earlier, in May, he had undergone surgery after breaking his hip. In the White House from 1977 to 1981, Carter negotiated the landmark Camp David peace accords between Israel and Egypt, transferred the Panama Canal to Panamanian ownership, dramatically expanded public lands in Alaska and established formal diplomatic relations with the People’s Republic of China. But the 39th president governed at a time of soaring inflation and gasoline shortages, and his failure to secure the release of Americans held hostage by Iran helped cost him the second term he sought. After losing his reelection bid to Ronald Reagan, and until well into his 90s, Carter continued working as an observer of elections in developing countries, building houses through the nonprofit Habitat for Humanity and teaching Sunday school at the tiny Maranatha Baptist Church in Plains, Georgia, his hometown. He was awarded the Nobel Peace Prize in 2002, 22 years after he left the White House. Culled from USA Today
Chicago mayor releases 2023 tax returnsPolice say suspect in UnitedHealthcare CEO killing wasn't a client of the insurer
Plea alleges fund misuse in Saini’s rally
The Chicago Bears continue to repeat their mistakes. Those repeats are the reason the Bears have lost five games in a row. Chicago, at one point, had a 4-2 record entering their bye, now have a 4-7 record with the NFC North first-place Detroit Lions looming on Thanksgiving Day. The Bears lost to the Green Bay Packers via a blocked field goal attempt at the end of regulation. Head coach Matt Eberflus was criticized for not trying to improve the Bears field position leading up to the block. On Sunday, the Bears had a field goal blocked in the second quarter with the opportunity to take a 10-7 lead. Instead, after the blocked kick, the Vikings scored a touchdown on the next offensive possession to go up 14-7. Chicago Bears HC Matt Eberflus blames players for missed kick Following the Bears’ 30-27 loss to the Minnesota Vikings, Eberflus faced questions as to why Chicago didn’t appear to correct their mistake one week after losing from a blocked field goal. During his press conference on Monday, Eberflus said the reason for the blocked kick against the Vikings was due to improper technique. “I just think it’s technique, it’s just technique,” Eberflus said. “It’s getting your foot down, bracing up there, staying lower. I just think it’s technique, and we just have to do a better job there.” The Bears emphasized field goals at practice Jason Lieser with the Chicago Sun-Times asked Eberflus how the lapse against the Vikings happened when the Bears had a whole week to work on protecting a field goal attempt. Eberflus confirmed Chicago put extra emphasis on field goals in their preparation for the Vikings, but they failed to provide the proper product against the Vikings. “It was emphasized, Ebuerflus said. “Like I said we just gotta do a better technique.” This article first appeared on ChiCitySports and was syndicated with permission.AP News Summary at 6:13 p.m. ESTPhiladelphia Eagles quarterback Kenny Pickett was knocked out of Sunday’s game against the Dallas Cowboys on a huge hit from Micah Parsons. Pickett took a hit to the body from Parsons while throwing a pass in the third quarter of Sunday’s game. Pickett had dealt with a rib injury during the week leading up to the game, and this play appeared to aggravate the issue. Kenny Pickett is being looked at on the sidelines after taking a hit from Micah Parsons pic.twitter.com/HtWgIIeYmB — FOX Sports: NFL (@NFLonFOX) December 29, 2024 Pickett went to the locker room after the hit and did not return after several minutes. Third-string quarterback Tanner McKee took over for him on the next drive and led the Eagles to another touchdown to put the team up 34-7. With the score that lopsided, Pickett did not return, as there is little reason to risk him further in a blowout, even if he was able to play. The only reason Pickett was starting Sunday was because Jalen Hurts was sidelined by the concussion he suffered last week . Fortunately, Hurts should be back for the playoffs, but the Eagles have suddenly become very thin at the quarterback position in the short-term. This article first appeared on Larry Brown Sports and was syndicated with permission.