Category: ksvuwpee

Equinor and partners sanction $160m Åsgard B low-pressure project

first_img Aker Solutions has won the EPCI contract for the Åsgard B low-pressure project. (Credit: Øyvind Hagen / Equinor) Equinor and its partners in the Åsgard field in the Norwegian Sea have agreed to move ahead with the NOK1.4bn ($160m) Åsgard B low-pressure project.According to Equinor projects senior vice president Geir Tungesvik, the Åsgard B low-pressure project will boost production from the existing wells in the Smørbukk deposit.Besides, the low-pressure project will help in achieving the planned production from the Åsgard field, said Tungesvik.The Norwegian field has been producing since 1999. Equinor said that the Åsgard field’s shift to low-pressure production is significant in securing improved recovery.Equinor Åsgard operations vice president Randi Hugdahl said: “We can still produce 400-500 million barrels of oil equivalent from the field. This means value creation in the order of NOK 150 – 200 billion.“The current recovery rate for the field is almost 50 percent, but our ambition is to extract 60 percent of the hydrocarbons in the reservoirs before the field will have to be shut down.”The Åsgard B low-pressure project involves modification of the platform to decrease inlet pressure. This is planned to be achieved through the replacement of the reinjection compressors and by reconstructing parts of the processing facility.Equinor expects the low-pressure production from the Åsgard field to begin in 2023.The Norwegian company is the operator of the field with a 34.57% stake. Its partners in the field are Petoro (35.69%), Vår Energi (22.06%), and Total E&P Norge (7.68%).Aker Solutions has been given the contract for modifying the Åsgard B platform to enable the low-pressure production. The engineering, procurement, construction, and installation (EPCI) contract is worth about NOK800m ($93.16m).The company will begin the work immediately and is expected to continue through 2024.Prior to this, Aker Solutions had executed the front-end engineering and design (FEED) for the modification work on the same semisubmersible gas and condensate processing platform.Aker Solutions electrification, maintenance, and modifications executive vice president Linda Litlekalsøy Aase said: “In projects like this, it is important to perform the offshore installation work safely and with a minimum of interruption of the ongoing production on other parts of the platform. Hence, we have developed special expertise and models to execute such contracts.” Aker Solutions awarded EPCI contract for modifying the Åsgard B platform, offshore Norway, as part of the projectlast_img read more

US Navy Releases FY-12 SECB Results to Sailors

first_img View post tag: News by topic View post tag: sailors View post tag: Naval Authorities View post tag: SECB US Navy Releases FY-12 SECB Results to Sailors View post tag: US View post tag: Navy February 15, 2012 Results from the Fiscal Year (FY) 2012 performance-based board for continuation of senior enlisted (SECB) were posted in Bupers Online (BOL) for individual Sailors access, according to NAVADMIN 054/12, released Feb. 14.More than 7,000 senior enlisted Sailors reviewed by the FY-12 performance-based board for continuation of senior enlisted were selected for continuation.“A performance-based board for continuation of senior enlisted Sailors with more than 19 years of active service is part of our continuing strategy to optimize the quality of those serving. It focuses on retaining our top performers, while managing the force,” said Vice Adm. Scott Van Buskirk, chief of naval personnel.The FY-12 board convened Dec. 5, 2011, and considered 7,684 active duty, full-time support and Reserve candidates with more than 19 years of service and three years’ time-in-grade for continuation who met eligibility guidance outlined in NAVADMIN 194/11. Of these eligible senior enlisted, 7,091 candidates were selected for continuation; 593 candidates were not selected for continuation.Senior enlisted considered by the FY-12 board are classified in one of three categories in BOL:S – Selected for continuation.N- Not selected for continuation.H- Not selected for continuation – In a hold status.Sailors not selected for continuation must transfer to the fleet reserve or retire by Sept. 30, 2012 and will have access to the Navy’s Transition Assistance Management Program.Like Perform to Serve for junior enlisted, and the Selected Early Retirement Board for officers, the senior enlisted continuation board is a force management measure, allowing Navy to retain the best Sailors while meeting current and future planned end-strength controls.The senior enlisted continuation board is a performance-based board, meaning there are no quotas. The board is directed to select or not select as many senior enlisted for continuation as they deem appropriate within the guidance provided in the precept. Continuation of candidates with no documented substandard or marginal performance indicators in their record is presumed.[mappress]Naval Today Staff , February 15, 2012; Image: navy View post tag: Results Back to overview,Home naval-today US Navy Releases FY-12 SECB Results to Sailors View post tag: releases View post tag: FY-12 Share this articlelast_img read more

The master distiller

first_imgThis past April, right before exams, most Harvard Law School (HLS) students were camped in the library studying legal precedents. Meanwhile, Jason Harrow was appearing before packed crowds in Boston’s 1st U.S. Circuit Court of Appeals, making a compelling case to overturn one.Five months after he argued his team to victory at HLS’s Ames Moot Court Competition, Harrow found himself giving another oral argument in federal court — and this time, the stakes were real. Harrow’s work will help decide the fate of Joel Tenenbaum, a Boston University graduate student fined $675,000 for illegally downloading and distributing 30 songs, and possibly the future of copyright law.“We just don’t think that this incredible penalty was ever intended for a college kid sharing music like everyone else,” said Harrow, who graduates this week. “Did Congress really think that when they passed [a digital copyright law in 1998] they were subjecting someone like him to these penalties?”It was a cogent case that Charles Nesson, Weld Professor of Law, called “the best student oral argument ever.”“He has an excellent ability to articulate the issue and to speak to it in a way that just makes sense,” said Nesson, who has led Tenenbaum’s defense against the record-industry lawsuit since 2007 and who agreed to let Harrow argue at the appellate hearing.But Harrow offered more than a talent for shaping an argument. In a school where students can easily get caught up in the rat race, competing for law review spots or prestigious summer associate positions, Harrow devoted himself to Tenenbaum’s underdog cause with rare passion.“He’s not the gunner,” Nesson said, referring to the HLS term for overachievers. “But he delivers.”A Philadelphia native, Harrow attended Princeton planning to become a doctor. But even after he took the MCAT, he couldn’t shake the feeling he might make a good lawyer. Upon graduating he moved to Washington, D.C., and became an assistant for Tom Goldstein, an appellate lawyer and co-founder of the popular Supreme Court news website SCOTUSblog. After two years on the job, he decided to matriculate at HLS.“I had put a lot of time into organic chemistry,” Harrow said, “but it became pretty clear that I liked doing this more.”Harrow knew he wanted to participate in moot court from the start. The 100-year-old competition isn’t for the faint of heart. Over three semesters and three rounds, Harrow and his team wrote hundreds of pages of legal briefs on fictional cases and spent weeks preparing for oral arguments, which take place before real judges — including, in the final round, Chief Justice of the United States John G. Roberts Jr. ’76, J.D. ’79.“I considered my strength to be the distiller” of the group, Harrow said, “the person who could take a deeply complex argument that my smarter colleagues thought of and say it in 30 seconds before you get cut off by a judge.”All the while, Harrow was helping Nesson with Tenenbaum’s case. Drawn to the complex mix of constitutional, technological, and cultural issues the case represented, Harrow joined the defense team right after Tenenbaum lost at trial in July 2009 and decided to appeal. Harrow and Nesson spent long hours drafting briefs and hashing out complex legal arguments, wading into uncharted territory. (The case is the first of its kind to make it to the federal level.)At 27, Harrow is the same age as his client. A music junkie himself, he remembers the days of free-for-all file sharing, before services like iTunes made it easy to obtain digital copies of songs legally.“I love music, and I want to pay for it,” Harrow said. “But I don’t think the record industry should be able to use the law to bully people into protecting an old business model that nobody wants.”This summer, Harrow will begin a yearlong clerkship with the 9th U.S. Circuit Court of Appeals in San Francisco, followed by a year working for a trial judge in New York. After that, he’d like to find a position that allows him to dig even deeper into intellectual property issues.Meanwhile, Tenenbaum’s case remains in limbo. As a federal court employee, Harrow will no longer be permitted to help, which is “a bummer,” he said.  “But I’m sure there will be a fresh supply of talented, more energetic law students to keep it going.”last_img read more

McWatters to Cordray: Do more to help credit unions

first_img 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NCUA board chairman H. Mark McWatters yesterday sent out a forceful letter to Richard Codray urging him to categorically exempt credit unions from many of the pending HMDA mandates, and called on it to clarify the scope of its Unfair and Deceptive Acts and Practices (UDAP) powers in guidance or regulations. This letter is proverbial music to the ears for those of us who believe that the benign dictator of consumer finance and former supreme court clerk has either been too cautious or too unwilling to utilize his authority to exempt credit unions from Dodd- Frank mandates.Here is my favorite quote; “Section 1022(b)(3)(A) of the Dodd-Frank Act, provides that the bureau may exempt any class of persons, service providers or consumer financial services from certain regulations. Use of this permitted, yet underutilized statutory authority is appropriate to address compliance costs and the unintended consequences of limiting access to affordable financial services for many millions of middle class credit union members, through the enactment of needless regulatory burdens.” continue reading »last_img read more

Only 1 in 5 CUs offer free checking

first_imgMoebs Services is reporting that credit unions have dramatically reduced their offerings of free checking.Free checking has declined by 59.2 percent so far this year at credit unions.According to Moebs Services, only 20 percent of credit unions offered free checking in 2019. At the end of 2018, 49 percent of all credit unions offered free checking.In comparison, 19.4 percent of banks provided free checking. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Governor Wolf Asks Senator Toomey to Consider Bipartisan Concern Over Medicaid Cuts

first_img June 21, 2017 Healthcare,  Human Services,  Medicaid Expansion,  National Issues,  Press Release,  Public Health,  Seniors Harrisburg, PA – In a letter to Senator Pat Toomey, Governor Tom Wolf today highlighted his bipartisan efforts to detail the terrifying impact of drastic federal cuts to Medicaid. Sen. Toomey sits on the Senate Republican’s committee drafting the bill and has reportedly sought deeper cuts to Medicaid than the U.S. House Affordable Care Act repeal.“For hundreds of thousands of Pennsylvanians, Medicaid is not a handout – it is a lifeline,” Governor Wolf wrote. “It helps families care for an aging parent or a child with a disability. It is helping our state battle the opioid epidemic by diverting people from punitive criminal justice settings and into the treatment they desperately need. It allows kids with intellectual and physical disabilities to go to school and learn.“Even your Republican colleagues from neighboring states – Senators Portman and Capito – have expressed reservations with the rumored Medicaid changes that would cap Medicaid spending, shift it to a lower future growth rate, and ultimately force cuts at the state level unless state taxes are increased to cover the funding cut at the federal level. Republican governors Kasich, Sandoval and Baker, along with my Democratic colleagues, also raised a red flag over Medicaid cuts in our letter.”Read full text of the letter below. You can also view the letter on Scribd and as a PDF.Full letter:Dear Senator Toomey,I write you today in complete frustration with the process regarding health care changes in Washington. We had spoken last month, and on May 30th, per your request, I sent you a letter regarding my concerns with the approach you and your leadership, along with Republican leadership in the House of Representatives, were taking. I also offered a variety of areas of focus and issues related to health care that would actually help Pennsylvania improve and expand health care coverage to residents. I did not hear back.Regardless, last week, I sent a letter with six other bipartisan governors, including Republican governors from Ohio, Nevada and Massachusetts, asking Majority Leader McConnell to involve us in this process as ultimately we will have to implement many of these changes and deal with the terrifying reality of deep cuts to Medicaid.To my frustration, every indication appears that these bipartisan governors, along with countless health advocacy groups, patient advocates, medical professionals, hospitals, and more, will also be ignored and shut out of the Senate’s process.This is too important – too vital – for secrecy and partisanship. The current path stands to leave possibly a million Pennsylvanians without health insurance over the next decade.With your proposal about to be unveiled, I want to take this moment to talk about Medicaid.  For hundreds of thousands of Pennsylvanians, Medicaid is not a handout – it is a lifeline. It helps families care for an aging parent or a child with a disability. It is helping our state battle the opioid epidemic by diverting people from punitive criminal justice settings and into the treatment they desperately need. It allows kids with intellectual and physical disabilities to go to school and learn.Even your Republican colleagues from neighboring states – Senators Portman and Capito – have expressed reservations with the rumored Medicaid changes that would cap Medicaid spending, shift it to a lower future growth rate, and ultimately force cuts at the state level unless state taxes are increased to cover the funding cut at the federal level. Republican Governors Kasich, Sandoval and Baker, along with my Democratic colleagues, also raised a red flag over Medicaid cuts in our letter.Unfortunately, press reports indicate you have advocated for Medicaid cuts to go even further than the House. Even worse, statements from your office have seemingly sought to confuse your constituents about this issue. Saying that these changes won’t make anyone ineligible for Medicaid is disingenuous and does not reflect the budgetary reality of covering these populations should you choose to cut federal funding for your state, which you know faces legacy financial challenges.Under Medicaid cuts in the House proposal, Pennsylvania will be forced to either significantly scale back the health care programs we currently offer to vulnerable residents, such as seniors and individuals with disabilities, or will be forced to weigh decisions about who to cover against other critical state funding obligations, including education, infrastructure, and the environment.Worse for older Pennsylvanians, the House bill charges older Pennsylvanians an “age tax” of up to five times what younger Pennsylvanians will pay. For low-income seniors currently receiving income-based tax credits, this, on top of Medicaid cuts, will be especially devastating.I ask you to join me and Republican governors and Senators to support a more open, bipartisan and intellectually honest debate about the future of health care in this country. Any debate about health care should be about how we cover more people, not less.I extend to you and your staff an open invitation to have an honest, in-depth conversation about how your approach to Medicaid would hurt Pennsylvania’s state budget, and, more importantly, the people who need lifesaving care. I will make myself available to your schedule.Thank you,Tom WolfGovernorGovernor Letter to Pat Toomey by Governor Tom Wolf on Scribd Governor Wolf Asks Senator Toomey to Consider Bipartisan Concern Over Medicaid Cutscenter_img SHARE Email Facebook Twitterlast_img read more

Wolf Administration Launches Commonwealth of Pennsylvania Critical Medical Supplies Procurement Portal

first_img March 26, 2020 Healthcare,  Press Release,  Public Health Governor Tom Wolf announced the creation of a new web portal that will expedite the procurement of critical medical supplies for Pennsylvania’s health care system during the COVID-19 pandemic.“The commonwealth, and the nation, is facing an unprecedented and uncertain time, and as we work to flatten the curve we must also ramp up efforts to provide Pennsylvania’s health care system with the critical supplies it needs to treat individuals with COVID-19,” said Gov. Wolf. “By consolidating the efforts of various state agencies, we will streamline the procurement process and allow these supplies to get to our health care providers and medical professionals as quickly as possible.”The Commonwealth of Pennsylvania Critical Medical Supplies Procurement Portal was developed through a joint effort between the Pennsylvania Emergency Management Agency, the Department of Health, the Department of General Services, and the Department of Community and Economic Development to source the most needed supplies for medical providers, emergency responders, and health care professionals.The Portal is for manufacturers, distributors and other suppliers to inform us of supplies available for purchase and will allow us to more quickly and efficiently procure these supplies for hospitals and medical facilities across Pennsylvania.Links for the Expansion of Supply Chain Capacity and Manufacturing Innovation and Donations will also be available very soon for those organizations who wish to inform the commonwealth of their expanded supply chain and manufacturing capacity or to donate goods and services for distribution across Pennsylvania.Most needed personal protective equipment (PPE) includes: surgical/procedure masks, N95/N99 Form Fitting Respirators, face masks with integrated shields, Powered Air Purifying Respirators (PAPR), and alcohol-based hand rubs. Needed hospital supplies include: ventilators with PEEP functionality, ventilator circuits, endotracheal tubes, and hospital gowns. Needed lab supplies include: UVT 3 mL with flocked flex minitip and Nasopharyngeal (NP) flocked swabs and viral transport media tubes (1-3 mL). Needed diagnostic supplies include: Roche MagNA Pure 96 DNA and Viral NA small volume kits, Roche MagNA Pure 96 system fluid and tips, Roche MagNA Pure 96 external lysis buffer, and Biomerieux NuciSENS EasyMAG extraction system and supplies.Questions on the portal can be directed to the Department of General Services at [email protected] the most up-to-date information on COVID-19, Pennsylvanians should follow and SHARE Email Facebook Twittercenter_img Wolf Administration Launches Commonwealth of Pennsylvania Critical Medical Supplies Procurement Portallast_img read more

Island network

first_imgRARELY today are railway investment projects justified solely as tools for regional development. Even rarer are ones as ambitious as the 2000 km network proposed on the Philip-pine island of Mindanao. Despite the considerable problems afflicting PNR’s main lines on Luzon, the government rightly believes that rail can play a significant role in generating investment and industrial growth. Hence last month’s decision to set up a Mindanao Rail Project Task Force, comprising representatives from the Department of Transportation & Communications and from the Southern Philippines Council for Peace & Development, whose chairman Nur Misuari was an early supporter. Next stage will be to carry out a detailed 200m pesos feasibility study to assess the prospects for lines to link the cities of Zamboanga in the far southwest and Davao in the southeast with Iligan and Cagayan de Oro in the north.Potential contractors are already eyeing the opportunities, with 10 companies looking to form a bidding consortium. These include Adtranz, Siemens and Grinaker Construction International and local firms, while Transnet of South Africa may join them. Rivals could include CAF of Spain, which is involved in the 76 km line to the planned international airport at Clark air base (p500) – this, incidentally, will be welcomed by those spending up to 5h in taxis between the present airport and central Manila.The project has a 12-year timescale, but whether it ever progresses beyond lines on maps remains to be seen. olast_img read more

ESG investing does not cost more, research shows

first_imgThe consultant said the results didn’t need to be adjusted for a pension fund’s scale “as the largest schemes were always high on the VBDO list”.“Earlier research has shown that there is no link between scale and costs,” Siegelaer said. “Large schemes do have benefits of scale, but usually have larger investments in expensive asset classes, such as private equity and infrastructure.”An improved ESG score based on governance, policy, implementation and accountability didn’t lead to higher costs, he argued.Siegelaer found that, for example, the pension funds Detailhandel (€21bn), Hoogovens (€8.7bn) and ABN Amro (€26.5bn) had all improved their ESG scores in recent years, while only Hoogovens experienced higher costs – up by just one basis point. Costs at Detailhandel and ABN Amro fell by the same amount.According to Siegelaer, the cost level at all three schemes was below average.He said that smaller schemes in particular were concerned about increasing costs when adopting an ESG approach: “They don’t know where to start and aren’t keen to spend days formulating ESG policy.”He added that pension funds could start ESG investing without overhauling their investment policy in three ways.“Pension funds with an active investment policy could, for example, switch from a traditional approach to active investing tasking the asset manager with specifically factoring in ESG considerations,” Siegelaer said. “They could also use indices that take ESG criteria into account.”A third way of improving ESG performance without additional costs was to combine engagement with a passive investment strategy, according to the consultant.“A pension fund can compensate the additional costs of engagement through increasing its passively managed mandates based on ESG indices,” Siegelaer said. Pension funds performing well on environmental, social and corporate governance (ESG) factors don’t incur higher asset management costs, according to research.Research by Dutch consultant Gaston Siegelaer indicated that improvements to investors’ ESG policies did not increase costs either.Siegelaer analysed cost data from 2016 and 2017 at the 50 largest Dutch schemes monitored by the Association of Investors for Sustainable Development (VBDO), and found no correlation between the level of asset management costs – including transaction costs – and their VBDO ranking.“Schemes with a high ESG score didn’t incur higher costs than pension funds at the bottom of the list,” he said, adding that spikes in costs couldn’t be explained by ESG efforts.last_img read more

Developers set for first home buyers rush

first_imgAbey Bosley will build her first home at Aura by Stockland.“I chose Aura because it is close to work (Sunshine Toyota) … about 10 minutes,” she said.“And I chose Ausmar Homes (to build her house) as we already have an affiliation with them at work.”Ms Bosely said that while she did not need the extra $5000 to get in to her own home, she wanted to make the most of the full grant. She said her parents would be moving in to help with the repayments.“It had always been my goal to have my own home,” she said. “And I wanted a new house so that I could tweak it to suit my needs.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus18 hours ago“I changed a few things around … rearranged the bathrooms and the outdoor area, got rid of the laundry to extend the kitchen.”Once completed, Aura will consist of 20,000 houses. The Kate Release was launched on June 11, and consists of 19 house sites, two duplex lots and nine terrace lots.First home buyers make up around 50 per cent of Stockland’s residential customers nationally, according to the developer.Sunshine Coast Lightning player Laura Scherian has purchased a block of land at Harmony by AVID Property Group, and will build her first home. Laura Scherian has bought land at Harmony by AVID Property Group, and will soon build her dream home.“I was so thrilled when my partner fell in love with Harmony as well — we just love the community,” Ms Scherian said.“The location of Harmony is perfect, with the generous amount of parkland throughout the development and being so close to schools, the university, hospitals and the highway, which makes travelling to Brisbane a breeze.“What’s even better is that we are only a short drive or bike ride away from the beach and I couldn’t think of anything better to do on the weekend than spend it on the sand.”The $3 billion masterplanned Harmony community is being constructed at Palmview, and will deliver more than 4800 homes for 12,000 residents over the next 15 to 20 years.The developer recently released its seventh stage — Prosperity — which has 21 block of land on offer, ranging in size from 300sq m to 555sq m and starting from $242,500.Meanwhile, more than 60 per cent of buyers at Woodlinks Village at Collingwood Park are living their own great Australian dream — home ownership. Woodlinks Village at Collingwood Park. Photo: SuppliedVillage Building Co CEO Travis Doherty said the vast majority of purchasers so far have been first home buyers, with many drawn to the masterplanned community due to its affordable land and proximity to existing and proposed infrastructure.“The residential communities proximity to Brisbane, Ipswich and Springfield as well as access to retail, education, health and recreation facilities, established public transport and employment, is driving its popularity,” Mr Doherty said.“A multibillion-dollar program of infrastructure development is already underway in the region and is anticipated to see local jobs rise significantly proving to be a real drawcard.”According to Village Building Co, first home buyers, in particular, have been driving the demand and growth in the region.Woodlinks Village will be released over 12 stages and consist of 777 home sites. It is expected to be home to 2500 people once completed. Land in stage seven is currently selling from $171,500. House and land packages are available from $360,848.center_img WITH just one week to go until the First Home Owners’ Great Start Grant reduces from $20,000 to $15,000, residential developers are finalising contracts in a bid to meet the deadline.The cut will take place from July 1, and will revert back to $15,000 — with that grant extended for another 12 months.Real Estate Institute of Queensland media manager Felicity Moore said they were expecting to see a last minute rush of activity in the new home market.“Queensland is already the most active state for these first-timers, with about 25 per cent of lending activity allocated to first home buyers, thanks to our affordable property and the boosted grant,” she said.“It will be interesting to see how that percentage changes once the grant reverts to $15,000 — will we continue to be such a busy hotbed of activity for rookie property buyers?”Porter Davis CEO Adrian Hondros is confident the reduction will have little to no impact on the first home buyers market, suggesting it will instead force builders and developers to come up with more competitive offerings.“What first home buyers need to keep in mind is the overall outlook for the market, which is promising,” he said. “The number of first home buyers has been in decline and although these changes may tighten budgets for some, having an incentive in place will continue to help younger generations get on the ladder.”Mr Hondros said that the reduction would present both opportunities and challenges within the house building industry, and the onus would be on new home builders to provide the correct product to suit the needs and budgets of first home buyers.One of Australia’s biggest residential developers, Stockland, is also confident the market will remain strong.“We have been working very hard to help dozens of first home buyers finalise their land contracts in order to have building contracts in place by the June 30 cut-off,” Stockland’s David Laner said.“It is important for first home buyers to remember that there is still a generous incentive ($15,000) for building or buying a brand new home.”***What you need to do to qualify for the $20,000 grant:— The value of the grant depends on your contract date. Contracts finalised on or before June 30 may be eligible for the $20,000 grant— Contracts not finalised before June 30 will be eligible for the $15,000 grant— The $15,000 grant has been extended until the end of the 2018/19 financial year— The grant is only applicable to new homes and apartments valued at less than $750,000***First home buyer Abbey Bosley signed the contract for her new home on June 10 — with 20 days to spare before the reduction.The 20-year-old has bought a $402,500 house and land package at Stockland’s Aura community on the Sunshine Coast, and will build a single-storey, three bedroom house on a 250sq m lot.last_img read more