• NOPSEMA requires Equinor to modify and resubmit environment plan

    first_imgThe opportunity to modify and resubmit does not represent a refusal or rejection of the environment plan Image: An Equinor building. (Credit: Ole Jørgen Bratland/Equinor ASA) NOPSEMA issued a notice to Equinor requiring them to modify and resubmit their environment plan for proposed drilling in the Great Australian Bight.Equinor must provide NOPSEMA with further information about matters relating to consultation, source control, oil spill risk, and matters protected under Part 3 of the Environment Protection and Biodiversity Conservation Act 1999.The opportunity to modify and resubmit does not represent a refusal or rejection of the environment plan. This is a normal part of NOPSEMA’s environment plan assessment process. NOPSEMA is required by law to provide titleholders a reasonable opportunity to modify and resubmit their plan if it doesn’t meet the regulatory requirements for acceptance.Through the iterative assessment process under the Commonwealth Environment Regulations, NOPSEMA previously requested further information from Equinor on 27 June 2019 to input into its environment plan.Equinor has 21 days to respond to NOPSEMA’s request to modify and resubmit its environment plan. However, Equinor may request an extension to this timeline. Source: Company Press Releaselast_img read more

  • How the Abu Dhabi National Oil Company is using technology to increase productivity

    first_imgWhat the technology means for workers at Abu Dhabi National Oil CompanyWhen new technology and software is integrated into companies, there is often a feeling that it is to replace part of the workforce – but AVEVA insists this is not the aim.Hayman emphasises that every aspect his company is involved in is about providing technology that will assist people in some way – and that in industries such as oil and gas, labour costs only make up a small percentage of company expenditure.AVEVA’s CEO Craig Hayman leading a press meeting on his company’s technology (Credit: AVEVA)Again venturing into an analogy, Hayman recalls how a customer once complained about a piece of equipment being carefully operated by a worker like it was a family saloon car.He says: “The customer realised that if the worker was to drive it a little bit faster, the company would generally be more productive – but he didn’t want to do that because he didn’t want to break it.“He told me, ‘I need him to drive it like it’s a Formula One car and I just need him to know when I flag him to come in for the lap to get the oil changed, then that’s the preventative maintenance’.“If I know that it’s going to fail on this in the next week, then I can schedule some maintenance before it actually fails.“So that’s where, for the worker who is driving that piece of equipment, you want to give them the tools so they can be successful – driving higher output and preventing unplanned downtime.” Planning and operationsThe third step ADNOC uses is planning and operations by optimising the feedstock, which is the raw material used to supply or fuel a machine.He gives the example of oil extraction in which the various levels of sulphur content can determine different types of uses, such as aviation fuel and heating oil, as well as deciding which refinery would be best to produce it.It could also be used to optimise which types of ships are used to transport materials most efficiently.“And I can look at the spot market prices, and my carbon offset prices for the whole thing,” Hayman adds.“I can run an optimisation across the entirety of that. In the same way that SAP might run an optimisation for a spare part for a car, you could run an optimisation around the feedstock – in this case, oil.“Every time ADNOC runs that, and it runs it 12 times a year, it generates $100m of economic value. That’s $1 a barrel.“You have to go a long way to find another initiative that will drive $1 a barrel of productivity improvement, without physically deploying any hardware.“So once you lay out these three steps to a company like ADNOC, it gets really hooked and we can now work with it on other initiatives.” Any business worth its salt will be aware of Industry 4.0 – now a slice of an energy industry that’s sometimes felt a little behind the times is getting used to the concept of Oil and Gas 4.0.Similar to how the so-called fourth industrial revolution represents trends towards smart and autonomous systems fuelled by data and machine learning being used in manufacturing, companies that produce oil and gas are having to embrace next-generation technologies to improve efficiency and value of their natural resources.For the state-owned Abu Dhabi National Oil Company (ADNOC), it has pioneered new tech that predicts failures and drives even more production from the rich oil supply at its disposal.The Middle Eastern business has teamed up with UK-based multinational IT firm AVEVA to integrate software that also helps workers manage assets and improve safety in the rapidly changing sector.AVEVA’s CEO Craig Hayman says: “For customers who have an Oil and as 4.0 or energy transformation agenda, the way we see it is that there is a very clear path of how to digitise their business.“But they are challenged to do that in a way that works with their employees and works with their existing shareholder commitments – and that’s where the technology comes in.” ADNOC has an oil and gas 4.0 model as part of its digital transformation (Credit: Flickr/Michael Panse) Like many energy companies, the Abu Dhabi National Oil Company is using new technologies like artificial intelligence and industrial internet of things to improve efficiencies and maximise returns in production. Working behind the scenes is software firm AVEVEA, whose CEO Craig Hayman explains to James Murray how the industry is in the midst of Oil and Gas 4.0. What is Oil and Gas 4.0?Oil and Gas 4.0 is putting the fourth industrial revolution, which is the trend towards automation and data exchange in manufacturing technologies, into an oil and gas context.Producers within the sector are using industrial internet of things, big data, advanced visualisation and artificial intelligence to integrate and maximise return across asset and supply chains.ADNOC aims to be a leader in adapting and integrating new technology from outside of its own domain, to see if it can add value to the company’s production, the economy, and the world as a whole.Hayman believes oil and gas companies are in a big transformation as they look towards technology to improve their businesses.He says: “Two years ago, they were beginning to get educated about digital transformation. Now they are very educated about it.“They have chief technology officers and chief digital officers, who are challenged to drive a transformation agenda inside what was historically oil and gas companies.“In fact, most of them now would refer to themselves as energy companies, or they will talk about it as Oil and Gas 4.0, which is what ADNOC does.“And what that means is that they had an operating model where they typically had operating companies with shared ownership and they were okay for them to work independently and their way to scale was to add more operating companies and more facilities.“So the path to profitability was to drive more production.“What they realised is, we’re soon going to reach peak oil, while the energy production needs of the world could be served through other means.“So, therefore, their attention has turned to efficiency of cost, efficiency of CO2 emissions, and efficiency of all sorts of other aspects.”As part of ADNOC’s digital transformation, it partnered with AVEVA to help drive the company forward, with the help of three key steps. Will there be an Oil and Gas 5.0?Whenever Industry 4.0 is mentioned, it is often followed by suggestions the fifth industrial revolution isn’t too far away given that the gap between each transformational era has shortened every time due to the quickening pace of change.With this in mind, and companies like ADNOC no doubt keen to continue integrating new technologies, could we one day soon see an Oil and Gas 5.0?Not for Hayman, who recognises how renewables are becoming more important to the modern-day energy mix.“It will quickly become Energy 4.0,” he adds.“These companies see that once they go through the digital transformation to Oil and Gas 4.0, they quickly turn that into Energy 4.0. It’s more of the evolution of their business.” Integrated software is helping ADNOC save hundreds of millions of dollars across the production line Asset performance managementOnce the operations centre was completed, the next stage was asset performance management to help prevent failures and increase efficiency.ADNOC has more than 10 million tags or sensors that are integrated and monitored using AVEVA’s software.Hayman explains: “An example is that they have got hundreds of compressors and just by looking at the data, we can predict when they’ll fail to prevent unplanned downtime.“That saves the cost of shipping in the replacement parts and the production outage.” Three key steps for the Abu Dhabi National Oil Company’s digital transformationOperations centreThe first stage of ADNOC’s move towards Oil and Gas 4.0 was to create the panorama digital command centre.It is a fully integrated, real-time data visualisation centre, displayed on a 50-metre screen, which helps to gain insights, unlock efficiencies and identify new pathways to optimise performance.The software has more than 120 dashboards, displaying 200,000 data points and is integrated into ADNOC’s 14 companies.It claims it can save between $60m and $100m in optimisation through just a single run of its integrated production planning model.One of AVEVA’s operation centres that ADNOC is using (Credit: AVEVA)Hayman says: “Part of our success in oil and gas and with energy companies has been showing them, ‘okay, keep running your facilities but drive more efficiency into them in some way and while you do that, free up operating expense and use some of those savings to power more digital while returning some of it to your investors’.“So with ADNOC, the scenario was for the first eight weeks, the operations centre will visualise the data in a way that they’ve never seen before.“Everyone had a view of how it would look but no one really saw it.”last_img read more

  • Next Chapter Homes Ltd

    first_imgHome » News » Agencies & People » Next Chapter Homes Ltd previous nextAgencies & PeopleNext Chapter Homes LtdThe Negotiator18th May 20190473 Views We recently published a news story called “Purplebricks has broken the spell of agents having branches” which referred to an estate agency run by Steve Betts. In the article the agency was referred to as being called “Next Chapter Property”, the name or brand under which its founder, Steve Betts, has presented the agency.The directors of Next Chapter Homes Ltd has asked us to point out that Next Chapter is the registered trading name of Next Chapter Homes Ltd, trademark number UK00003124986 (class 36 – Estate agency; Estate agency services; Estate agency services for sale and rental of buildings), trading as Next Chapter, Next Chapter Property and/or Next Chapter Estate Agents.The use of the name “Next Chapter” as a trading name and trade mark is reserved to Next Chapter Homes Ltd and should not be confused or mistaken for the agency founded and run by Steve Betts which he refers to as “Next Chapter Property”.Next Chapter Homes Ltd has been trading since 2013 and is a multi-awarding agency and winner at The Negotiator Awards.We apologise to our readers and to Next Chapter Homes Ltd and its directors for any confusion caused by the article referring to “Next Chapter Property” in relation to the agency run by Steve Betts.Next Chapter May 18, 2019Grant LeonardWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

  • Ocean City Faces Absegami in Playoff Hockey Showdown

    first_imgBy Lesley GrahamOcean City High School’s field hockey team looks to return, once again, to the NJSIAA South Jersey Group 3 final with a win versus Absegami on Tuesday. The game is slated for a 2 p.m. start at Ocean City’s Carey Stadium.Absegami (8-9-2) is a familiar foe for the Red Raiders, a conference opponent in the Cape Atlantic League, American Division.Both teams received a bye in the first round of the playoffs. The Absegami Braves are on a two-game win streak with a victory over Bridgeton to end their regular season, earning them the No. 4 seed in the Group 3 South Jersey bracket. Last week, they defeated Gloucester Tech 2-1 in overtime to advance.Victoria Clarke leads all scorers for Absegami with nine goals on the season. She had a goal and an assist in the team’s last victory.In Ocean City’s first playoff game last Thursday, the team defeated ninth-seeded Cherry Hill West 10-0. The Red Raiders saw seven different goal scorers, with five of their 10 goals assisted. Ocean City is the No. 1 seed in South Jersey Group 3.Ocean City (17-3-1) has faced Absegami twice this season and been victorious in both matchups. The first time they played, Ocean City won 4-0. Less than two weeks ago, the Red Raiders came out on top 9-0.  Reese Bloomstead leads all goal scorers for Ocean City with 26 goals on the season, while teammates Jaclyn Charbonneau and Molly Reardon both have 20. All three players scored last time out for the Red Raiders. The winner of the Ocean City-Absegami game will face the winner of Clearview-Mainland on Nov. 1. Ocean City’s hockey team poses for a group photo on the Boardwalk while having a celebratory dinner Monday evening hosted by Brown’s Restaurant. (Courtesy Maureen Schneider)last_img read more

  • Bay Avenue Construction Closure

    first_imgConstruction work will cause detours on Bay Avenue. Starting on Wednesday, Bay Avenue will be closed from Eighth Street to Ninth Street as part of the Cape May County Municipal Utilities Authority project to replace the main that carries wastewater to the treatment facility at 46th Street.Please plan to use West Avenue to travel southbound or to access the outbound lanes of Ninth Street. Southbound traffic on Bay Avenue will be detoured at Eighth Street and northbound traffic at Ninth Street.This traffic pattern will remain in effect until the county’s work crews can excavate an access pit to make all the necessary tie-ins — approximately a week and a half.Work continues on other parts of Bay Avenue and 31st Street. To follow updates on this project and to sign up for email notifications, visit www.ocnj.us/projectupdate.last_img read more

  • Bakery numbers decline

    first_imgData from the Office for National Statistics (ONS) has revealed a 5% decline in the number of bakery retail businesses in the UK last year, while the number of bakery manufacturers fell by 0.8%.The figures show there were 2,880 bakery retail businesses in the UK in 2006, operating a total of 6,405 units. In addition, there were a total of 1,740 bakery manufacturers, down 15 year on year.The figures, gathered on March 17, 2006 and published in September, give details of turnover and location of companies classified as bakeries.They show a 5% decline in the number of bakery retail companies by 145 year on year. The number of outlets operated also dropped, 5% or 305 from 6,710 in 2005.Consolidation among small bakery businesses is one possible explanation for the decline.There were 2,260 retail bakers with up to four employees in 2006, down from 2,475 in 2005.The statistics also reveal the regional spread, age and the turnover brackets of the companies registered. Many bakery retail companies are based in the north, according to the data. Some 390 were listed in the north-west and 265 in Yorkshire and the Humber. There were 245 registered retail bakery businesses in Scotland, 145 in Wales and 355 in London.The coded data, available from the ONS’s Inter-Departmental Business Register, also covers the bakery manufacturing industry. It shows there were 1,550 manufacturers of bread, fresh pastry and cakes in the UK in 2006 (included in the 1,740 tally above) – up 10 on 2005.Of these, 110 had a turnover of under £50,000 and 90 of over £5m in 2006. Greatest year-on-year decline in numbers was seen in companies with turnovers of between £100,000 and £5m, the figures reveal. For example, there were 455 companies with turnover of between £100,000 and £249,000 in 2006 down from 475 in 2005.The ONS also listed 190 manufacturers of rusks and biscuits, preserved pastry goods and cakes in 2006 (a separate category) down from 215 in 2005.A separate classification is used for takeaway businesses, including sandwich shops. There were 61,935 takeaway outlets in 2006.last_img read more

  • VMEC offers new “Green Generalist Online” training

    first_imgThe Vermont Manufacturing Extension Center (VMEC) has teamed up with Purdue University’s Technical Assistance Program to offer Green Generalist Online training, an interactive and educational online course that provides awareness of the key environmental issues facing companies and ways to redesign their business practices using environmentally friendly techniques. The Green Generalist Online workshop is appropriate for the entire workforce and all business sectors. Green Generalist Online has seven sections, seven tests, and three interactive simulations. It takes up to four hours to complete. The cost is $175 per person using a special ‘Discount Code’ available through the VMEC website.  A Green Generalist Certificate is also available from Purdue TAP upon course completion. Registration is possible through the VMEC website atwww.vmec.org(link is external) or www.vmec.org/online-courses(link is external). According to VMEC Director and CEO Bob Zider, ‘Wherever possible, it’s important that manufacturers continue to reduce and manage their energy and raw material use, reduce waste by-products of production, and integrate environmental best practices into company operations and product development.  Investing in training, technologies, production methods and business processes that create resource and cost savings is essential to maximize competitive advantage and market share.’   The new Green Generalist Online training complements a full-day Principles of Green 101 workshop that VMEC introduced last year and is now periodically offered around Vermont.  At a reasonable cost, the shorter Green Generalist Online course developed by Purdue University provides students with flexibility to learn on their schedule and at their pace, with 24/7 accessibility from any computer location having internet access.   To learn more about the Green Generalist Online workshop, visit www.vmec.org(link is external) or call VMEC at 802-728-1432.   About VMEC VMEC’s primary mission since 1995 has been “To improve manufacturing in Vermont and strengthen the global competitiveness of the state’s smaller manufacturers.” This is done through confidential consulting, one-on-one coaching and public/onsite workshops to help Vermont’s manufacturers increase their productivity, improve their manufacturing and business processes, reduce costs, identify and adopt innovative new growth strategies, and improve their competitiveness.last_img read more

  • Advances in Technology Open Southeast U.S. to Wind Farms

    first_img FacebookTwitterLinkedInEmailPrint分享Bloomberg News:Anchored by General Electric Co.’s turbine factory in Pensacola, Florida, the southeast is home to more than 100 manufacturing sites supplying the U.S. wind industry.Yet most of the product gets shipped out to the wind belt running from Texas to North Dakota. Nine southern states have no wind farms at all, but that may soon change after a Virginia utility requested proposals for 300 megawatts of new clean power plants.A combination of taller towers, longer blades, smart controls and lower costs are driving interest in turbines in the region with the weakest winds in the U.S., said John Hensley, deputy director of industry data at the American Wind Energy Association.“Manufacturers clustered around the Southeast where GE makes a lot of turbines,” Hensley said in an interview Thursday. “Now the machines are bigger and smarter, and you’re seeing the market open up to a low-wind region.”Virginia Seeks First Wind Farm in Region With Slowest Breezes Advances in Technology Open Southeast U.S. to Wind Farmslast_img read more

  • 2019 mid-year review: Rates, deposits and their effect on financial institutions

    first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,James Lutter D. James (Jim) Lutter is the Senior Vice President of Trading and Operations at PMA Financial Network and PMA Securities where he oversees PMA Funding, a service of both companies … Web: pmafunding.com Details The first half of 2019 was interesting on multiple fronts. After growing approximately 3 percent in 2018, GDP entered the first quarter of 2019 at a strong 3.2 percent. However, according to the Atlanta Fed’s GDPNow forecast, second quarter GDP is estimated to be substantially lower at 1.6 percent.Unemployment and wage gains remain strong, along with consumer spending and business confidence, but headwinds from slowing global economic growth and continued trade tensions are forcing the Fed to change course. After four years of rate increases, the Fed is expected to deviate and cut rates one to two times throughout the remainder of 2019. This would result in the effective fed funds rate at sub 2.00 percent. Figure 1 below provides a historical view of the current rate cycle comparing effective fed funds to other market indicators.  Figure 1Interest rates remained the hot topic throughout the first half of 2019. Most notably, President Trump (in Trump-ian fashion) tweeted on multiple occasions about his displeasure with the Fed for perceived unnecessary rate hikes. Since 2016, the Fed raised rates eight times in a bid to meet its dual mandate of maximum employment and stable prices (i.e. 2% inflation). With uncertainty about how the Fed may react to pressure from the markets and executive branch, the general interest rate market is experiencing significant volatility. Market rates such as 1 and 3 Month LIBOR have fallen by 10bps and 37bps respectively throughout the first half of the year (see Figure 1). This is due to the perceived notion that the Fed would continue modest rate increases in 2019, but consequently has diverted in a different direction. Volatility in these market rates are making it difficult for financial institutions to effectively price loans and deposits. The result is increased pressure on margins as cost of funds increases, while yields on loans are decreasing (see Figure 2 below).Figure 2In 2018, a majority of financial institutions experienced an increase in their cost of funds as rate increases incentivized depositors to seek higher returns. However, during the first quarter of 2019, money center and regional institutions began to see marginal decreases in their cost of funds, while community-sized financial institutions experienced increases. This stems from several factors. Larger financial institutions using market based indices like LIBOR experienced a decrease in cost of funds, as those rates began to fall in anticipation of Fed movement. However, most community-sized financial institutions that are utilizing Fed-based pricing are lagging and can continue to experience upward pressure on cost of funds (see Figure 2 above).Figure 3Furthermore, time deposits tend to make up a larger share of a community-sized financial institution’s deposit composition. Time deposits have grown across all financial institutions over this recent rate cycle, but have grown most significantly across money centers (see Figure 3 above).Figure 4Usage of wholesale funding has varied by size of financial institutions (see figure 4). Most notably, all financial institutions have increased their usage of listing services as a funding source. However, both community and money center institutions have relied more heavily on the brokered market, whereas regional institutions have tapped the FHLB as a means for funding.Figure 5As financial institutions gear up for growing deposits, the era of loans outpacing deposits may be coming to an end, at least in the near term. During the first half of this year, loan growth has slowed at all financial institutional sizes. Both community and money center institutions have experienced marginal growth in deposits. This trend may reverse if the Fed does in fact cut rates, which should incentivize borrowing (see Figure 5 above). In conclusion, the first half of 2019 has been marred with uncertainty, both at home and abroad.  The continued signs of global economic slowdown have forced the central banks to change course on monetary policy in anticipation of navigating a potential crisis.  Financial institutions are anxiously awaiting central bank outcomes as market-based rates have collapsed onto effective Fed Funds; continually whittling away at margin. Global economic growth and trade tensions will continue to be a headwind, thus directly facing financial institutions through the remainder of 2019.last_img read more

  • Parler, the Conservative Social Media Platform, Gets Backing from Mercer Family: Report

    first_imgSocial media platform Parler, which styles itself as a “free speech-driven” space, gets funding from hedge-fund investor Robert Mercer and his daughter and conservative activist Rebekah, the Wall Street Journal reported on Saturday. US right-wing social media users have flocked to Parler, messaging app Telegram, and hands-off social site Gab, citing the more aggressive policing of political comments on mainstream platforms such as Twitter and Facebook.Parler Chief Executive Officer John Matze, who describes himself as libertarian, has said he founded the company in 2018 as a bipartisan platform but has doubled down on marketing to conservatives as they took to the site. Those who have joined include commentator Candace Owens, President Donald Trump’s lawyer Rudy Giuliani, and right-wing activist Laura Loomer, who handcuffed herself to the door of Twitter’s New York office in November 2018 to protest a ban on her by the site.- Advertisement – – Advertisement – “John and I started Parler to provide a neutral platform for free speech, as our founders intended, and also to create a social media environment that would protect data privacy,” Rebekah said in a post on Parler. “The ever-increasing tyranny and hubris of our tech overlords demands that someone lead the fight against data mining, and for the protection of free speech online,” she addedThe company’s user base more than doubled to 10 million in under a week, making it difficult for its roughly 30-person staff to keep up with the new sign-ups, according to the Wall Street Journal.Will Xbox Series S, PS5 Digital Edition fail in India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.- Advertisement –last_img read more