Category: rzrcthstfcah

Saudi Aramco profits down 20% in 2019 on low oil prices and disrupted production

first_imgSaudi Aramco profits hit by rollercoaster 2019A rollercoaster 2019 for Saudi Aramco also included a drone missile attack on its Abqaiq and Khurais facilities in September, which temporarily forced it to suspend production to the tune of around five million barrels per day (bpd).The onset of coronavirus has further disrupted the market since the turn of the year, hitting oil producers hard as both demand and commodity prices plummet.Company president and CEO Amin Nasser said: “2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances – some planned and some not – the world was offered unprecedented insight into our agility and resilience.“The recent Covid-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape.“We have already taken steps to rationalise our planned 2020 capital spending.“As the world deals with the difficult and dual challenge of satisfying demand for more energy alongside responding to the rising desire for cleaner energy, I believe we are well-positioned given our oil production is among the least carbon-intensive in the world.” Despite completing its record-breaking IPO in December, profits at Saudi Aramco fell to $88.2bn in 2019 – while Covid-19 and oil price crash spell further dangers ahead Saudi Aramco’s Khurais production plant (Credit: Saudi Aramco) Profits at Saudi Aramco fell more than 20% in 2019 on low crude oil prices and production volumes, prompting it to cut spending plans for the year ahead.Saudi Arabia’s state-owned oil and gas producer, the world’s largest, said capital expenditure for 2020 had been revised down to between $25bn and $30bn – compared to $32.8bn in 2019 – and that spending plans for 2021 are now “under review”.Despite the fall in profits, from $111.1bn in 2018 to $88.2bn in 2019, the national oil firm remains the world’s most profitable company – as well as the most valuable publicly-listed firm following its record-breaking IPO last December that raised more than $30bn on a $1.7tn market valuation.Lower refining and chemical margins, as well as a $1.6bn impairment charge associated with its Sadara Chemical Company subsidiary, were also attributed to the fall in profits throughout the year.Shares in Saudi Aramco, which is listed on the domestic Tadawul stock exchange, were down almost 3% in trading today (16 March), sitting at around 27.9 riyals per share at the time of writing – which compares to the 32 riyals IPO purchase price.The company confirmed it paid $73.2bn in dividends in 2019, and intends to complete the $75bn dividend for 2020 set out in its IPO prospectus.center_img Covid-19 and Saudi-Russia price war have sent oil prices into freefallAs the de facto leader of the Opec organisation, Saudi Arabia agreed production-cut measures last December to bolster oil prices in the face of global oversupply – but the impact of coronavirus since January has exacerbated the situation, sending crude prices into freefall.Failed negotiations between Opec and Russia – the nominal leader of the Opec+ alliance – to implement additional cuts in response to Covid-19 left the two major oil producers in a stand-off that has sparked a price war and commitments from Saudi Arabia to raise output and flood the market with heavily-discounted reserves.The kingdom plans to increase current production levels by 2.5 million bpd to 12.3 million bpd next month, once the existing Opec cutback agreement expires.Last week, Saudi Aramco confirmed it had been instructed by Riyadh to increase its maximum sustainable production capacity from 12 million bpd to 13 million bpd.Prices of Brent crude are currently less than $33 per barrel – which compares to roughly $50 per barrel before the Opec+ fall-out and $70 per barrel in January before the spread of the pandemic.last_img read more

Sceneplay: The Awful Truth

first_imgby Laura WilliamsFrom the 1930s until as late as the mid-’60s, American movies were subject to a production code that imposed massive restrictions upon what they could and could not show on the screen. The list of rules included regulations banning portrayals of ‘vulgarity’, ‘excessive or lustful kissing’, ‘sex perversion’ (homosexuality), and forbidding the villain from ever being allowed to get away with his crimes. The resulting films portrayed an idealised America, a reassuring social morality and an optimism about everyday life which was lacking in the decade following the Wall Street Crash. The Awful Truth is one such film, but it deserves to be remembered as more than just another 1930s slapstick comedy. Cary Grant and Irene Dunne star as a newly separated couple, who spend the ninety days before their divorce is finalised sabotaging each other’s new romances, obviously still crazy about each other. The witty dialogue and physical humour creates a hugely underrated comedy film of a quality rarely seen since.The couple’s misadventures culminate with Grant arriving at Dunne’s singing teacher’s house, suspecting the two are having an affair, and he tries to barge in. During a tussle with the doorman, Grant does a hilarious pratfall – almost his trademark in his early films, a talent from his vaudeville days – he lands almost entirely on his face. Eventually bursting through to the living room, he find his wife singing to a crowded room, with her teacher accompanying her on the piano. Astonished, Grant slowly takes off his hat, listening to his wife sing, then sits down awkwardly on a chair at the back, while Dunne glares at him, still singing. It’s not over yet, as Grant leans back on his chair and falls again, and the fall just keeps on going. Eventually, he rights himself and looks over to his wife with an expression of endearing helplessness. As Dunne catches her husband’s eye in the last phrase of the piece, she laughs a little out loud – perfectly on key – and then ends the song. She’s not only realised that her husband has shown up because he’s still in love with her, but also that she’s still in love with him, and all she can do is laugh. The scene is a perfect moment in life and cinema, showing love, huge and simple, in that instant – and it gets me every time.What makes this film even more enchanting is that much of the script was improvised. When shooting began, director Leo McCarey only had a very sketchy script for the cast to work with, and both the leads, convinced that without a script the film would be a flop, tried to walk out. (Cary Grant allegedly wrote an eight-page letter to the film studio entitled ‘Things that are wrong with this picture’.) As it turned out, Grant was the one who was wrong. Irene Dunne was nominated for an Oscar for her performance, and Grant was rocketed into super stardom, becoming one of the most sought after leading men for the next three decades.last_img read more

Ocean City Rolls Over Oakcrest, 48-0

first_imgCarl Wanek hands off to Noah Murray as the Red Raiders churn out yardage. The Jake and Joe Show simply was too much.Quarterback Jake Repetti threw four touchdown passes, three of them to wide receiver Jake Schneider, leading Ocean City to a dominating 48-0 win over Oakcrest on Friday night in Mays Landing.The Red Raiders breezed to a 41-0 lead at halftime en route to their second straight win of the 2020 season. The Falcons fell to 0-2.Ocean City’s running and passing game executed with precision.Besides finding Schneider three times for scores, Repetti also connected with tight end Brad Jamison for a touchdown pass to fuel the high-powered offense.The Red Raiders were also potent on the ground. Jacob Wilson rushed for two touchdowns and Elijah Cochran ran for one.Ocean City plays at Cedar Creek next Saturday at 12 p.m.last_img read more

Briefs

first_imgn Full-time student bakers are being encouraged to enter a new competition that showcases their bread-making and confectionery talents using California raisins.Organised by the California Raisin Administration Committee, first prize in the competition will see the winning team taken on a trip with the famous Richemont School. Second prize is kitchen equipment for the student’s college and third prize is a California Raisins product.The competition will be held at Thomas Danby College, Leeds, on 23-24 March 2007. For more information contact Dee Cassey on 020 8741 8513 or e-mail [email protected] A colleague of the Fine Lady Bakeries worker stabbed to death outside the bakery in Banbury has been charged with his murder. Shahid Rehman worked with the victim Imran Shah. Shah suffered multiple stab wounds at about 2.30am on 27 November in the bakery’s car park and was pronounced dead soon after.n Foodservice supplier Brake Brothers is being prepared for a stock market listing in the first half of next year and could be valued at up to £500m, according to newspaper reports.n A survey of more than 1,400 people undertaken on behalf of the Home-Grown Cereals Authority has revealed an “alarming lack of knowledge” surrounding wholegrains. Over 30% of people failed to recognise a granary loaf as a wholegrain product, although 59% did know that wholegrains can help reduce the risk of heart disease.last_img read more

Sorin and Walsh Halls experience water outage

first_imgSorin and Walsh Halls experienced a water outage Wednesday and are awaiting testing to ensure the water is drinkable, according to emails sent to the dorm communities.At 1:56 p.m. Wednesday, Sorin residents received an email from their rector, Fr. Bob Loughery, informing them that the water was out in both Sorin and Walsh Halls and that the toilets were not usable. University spokesperson Dennis Brown said water was restored to the buildings Wednesday evening.“Sediment in the water main that serves these residence halls constricted the water flow to both buildings,” he said in an email. “The line has been cleared and was returned to service about 9 p.m. Wednesday. The line has been flushed twice, and water samples have been taken for each building.”The outage was connected to Corby Hall construction, according to the email sent from Loughery to Sorin residents Wednesday.“Water to Sorin and Walsh was diverted to another pipe after the start of construction,” Loughery said in the email. “Though the pipe was able to handle that water usage during the summer, the pipe was not able to support the sudden surge in usage these past couple days.”In an email to Sorin and Walsh residents Wednesday, the Residential Life Team said Campus Utilities staff had been working throughout the day to restore water and would test the water “[o]ut of an abundance of caution.”Bottled water was delivered to the dorms to ensure access to potable water during testing. Badin and St. Edward’s Halls opened their bathrooms to Walsh and Sorin while their showers and toilets were impacted by the water outage.Brown said the University expects to receive the test results Friday afternoon.Tags: Construction, Sorin Hall, Walsh Hall, water outagelast_img read more

Kristallnacht anniversary: ‘We were frightened for our lives’

first_img– Advertisement – – Advertisement – A Jewish witness to the violent attacks carried out during Kristallnacht is sharing his experiences to help educate future generations.On 9 November 1938 more than 1,000 synagogues were attacked in Germany and Austria. It was the outbreak of mass violence against Jews which was to end in their mass murder. It became known as Kristallnacht – ‘The night of broken glass’.- Advertisement –center_img To mark its anniversary, 96-year-old Jakob Sanger is working with Jroots, a charity that specialises in Holocaust education using accounts of survivors.last_img read more

Mexico posts new case record to overtake Spain, official says virus ‘slowing’

first_imgMexico on Wednesday posted a fresh record for new coronavirus cases reported on a single day, with 6,995 infections, overtaking Spain to register the world’s eighth highest case count, according to a Reuters tally.Despite the soaring figures, Mexico’s coronavirus czar, Hugo Lopez-Gatell, said the pandemic was “slowing.”The figures pushed Mexico’s overall tally of infections to 275,003 cases. Mexico on Wednesday also recorded 782 additional fatalities, bringing its overall death toll to 32,796, the world’s fifth highest total. The government has said the real number of infected people and deaths is likely significantly higher than the confirmed numbers due to low levels of testing.Lopez-Gatell, the deputy health minister and who spearheads Mexico’s coronavirus response, said the new figures do not mean the spread of the virus is accelerating.”The epidemic in Mexico is slowing down,” he said, adding that the velocity of the spread was decreasing.He highlighted progress in Mexico City, the epicenter of the virus. He said despite officials in the capital loosening restrictions and reopening for business two weeks ago, there have been no signals the virus was on the rise.But he warned the virus remains “active,” and citing a rise in infections in Western Europe, said Mexico faces a risk of fresh outbreaks now that it has reopened its economy.Mexico’s previous one-day record was last week on Thursday when 6,741 new cases were registered.Topics :last_img read more

Public relations bureau head Febri Diansyah resigns from KPK

first_imgFebri Diansyah, the head of the Corruption Eradication Commission’s (KPK) public relations bureau, has resigned from the antigraft agency.KPK spokesperson Ali Fikri confirmed Febri’s departure on Thursday, saying that the commission’s human resources bureau had received his resignation letter.“Following the KPK’s policy, employees who resign must submit a written notice one month in advance,” Ali told reporters Thursday. Febri’s official resignation is presumed to take effect on Oct. 18.In the resignation letter dated Sept. 18, a copy of which was obtained by The Jakarta Post, Febri cited “changes in the KPK’s political and legal condition” over the past 11 months as the reason for his departure — presumably referring to the changes caused by the controversial revision to the KPK Law that was passed in September last year.“Through this letter, I also want to thank the KPK leaders, my direct supervisors, the secretary-general and other colleagues at the KPK, all the learning processes, differences of opinion and joint work that have been done before,” Febri writes in the letter, the authenticity of which has been confirmed by Ali.Febri confirmed his resignation to journalists on Thursday. “Yes, with all my love for the KPK, I bid my farewell,” he said.Prior to joining the KPK, Febri was an activist of Indonesia Corruption Watch (ICW). He served as the commission’s spokesperson and public relations bureau head in 2016 until the commission appointed two acting new spokespersons in December last year.Laode M. Syarif, a former KPK commissioner who served from 2015 to 2019, wished Febri good luck in a written statement.“His resignation from the KPK should be regretted because he is an important asset of the commission in maintaining its dignity,” Laode said, “I really believe that wherever he is, he will always fight to prevent and eradicate corruption, because anti-corruption is in his DNA.”Topics :last_img read more

Escape the city life in this rainforest retreat

first_img366 Tomewin Mountain Rd, Currumbin Valley.Set on a sprawling 1.97ha block in the Gold Coast’s Currumbin Valley, the two-level residence features a variety of unique crafted details with timber a prominent fixture throughout.One-of-a-kind camphor laurel bench tops are found in the kitchen and main bathroom while distinctive staircase stands out.“When we first moved in Barb said we should replace the hand rail on the stairs and no as that was one of the features I loved about the house,” he said. 366 Tomewin Mountain Rd, Currumbin Valley.He said he had many favourite features but sitting out on the back deck was one of the standouts.“Being out there on any morning having a coffee is awesome, it’s simply magic,” he said.“The property backs on to 40 a national park.”And it would be hard not to mention the resort style free-form lagoon pool, enhanced by the winding timber path ways surrounding it. 366 Tomewin Mountain Rd, Currumbin Valley.A free standing studio offers views to the pool and rainforest and there is also a self contained one-bedroom bungalow for guests.Mr Newman said the property would suit several potential buyers. “It’s really for somebody who loves timber, unique designs and wants a one-off home,” he said.“It you want something different then this is the place for you.”The couple are selling to make way for a sea-change.Ken Jacob of Ray White Tugun is marketing the property at offers over $1 million. 366 Tomewin Mountain Rd, Currumbin Valley.IF a unique property hidden in the rainforest is what you’re after, look no further.Bob Newman and Barb Roberts bought their “private oasis” 11 years ago and were sold on it almost instantly.“We pulled up out the front and walked down the driveway,” Mr Newman said.“The rainforest basically enveloped the property and I just fell in love with the place from that moment.”center_img 366 Tomewin Mountain Rd, Currumbin Valley.“We take our dog for a 5km walk every day and the minute I get home I usually jump in the pool,” he said.“The pool is 2.5m deep in some parts so you can really enjoy it, jump off the bridge, it’s absolutely fantastic.“It has a beach entry and then off the edge it drops down to 1.5m and then very quickly goes to 2.5m.” 366 Tomewin Mountain Rd, Currumbin Valley.An open plan kitchen, high pitched ceiling and extensive picture windows are found on the ground level as well as multiple living and dining areas, office and laundry.The second level features three bedrooms and the main bedroom with walk through wardrobe and ensuite. More from news02:37International architect Desmond Brooks selling luxury beach villa18 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“We have basically modernised it since we bought it,” Mr Newman said. “We painted it and added a fifth bedroom.”last_img read more

Corner block development potential motivates buyers

first_img MISSED OUT ON THIS ONE? The level block has the potential to be subdivided and a new house built alongside the restored post-war home.The house sold to a local developer for $656,000 who has decided to do up the house, rather than demolish it.More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020 MORE REAL ESTATE STORIES Plenty of love needed to restore 76 Besham Parade, Wynnum, but the new owner has a big heart.DEVELOPERS swooped on this bayside corner block with two written offers presented to the seller within three days of it being listed.The original post-war home at 76 Besham Pde, Wynnum was being offered for sale for the first time and its 809sq m footprint attracted developers from Brisbane to the Gold Coast. As people were inspecting the property, others were on the phone to the agent offering for the house.“When you get 809sq m on a corner, there’s always going to be interest from the small local developers so I had 15 I could call on the first day.“I had three people on site inspecting when this person rang to put an offer on the house.“He turned up within 15 minutes.“Then by the time this gentleman had signed the contract, a lady who was a developer from the Gold Coast also put an offer in, so we had two offers to present to the seller.”center_img Traditional Real Estate Wynnum agent Kate Roeth said the elderly seller was happy her family home was being restored.“There was a potential for the house to be removed but he’s going to restore the old retro house,” Ms Roeth said. SEE WHAT OTHER 800SQ M BLOCKS ARE AVAILABLE IN WYNNUMlast_img read more

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