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Chevron starts mega-LNG project in Australia

Last month, Chevron, which owns almost 50% of Gorgon, was among 10 USA oil companies whose credit ratings were cut by Standard & Poor’s due to the oil-price rout.

Chevron is also behind Australia’s 8.9 mta Wheatstone LNG project, whose costs have soared from US$23 billion to an estimated US$33 billion, according to analysts Macquarie.

“We congratulate the Gorgon workforce on this achievement…”

Chevron Corp. (NYSE: CVX) started producing LNG and condensate at the Gorgon Project on Barrow Island off the northwest coast of Western Australia, and the first LNG cargo is scheduled to ship next week, the company said March 7. Another of Gorgon’s big investors- Exxon Mobil Corp.-had its triple-A corporate rating placed on watch by S&P for a possible downgrade. “This is the result of the collaboration of hundreds of suppliers and contractors and many tens of thousands of people across the world during the project design and construction phases”, Watson continued. Osaka Gas, Tokyo Gas and Chubu Electric Power each have minor interests.

The project is a cornerstone in Chevron’s efforts to become a major LNG supplier over the next four years, with Gorgon and a neighboring development in Western Australia known as Wheatstone targeting growing demand for natural gas in the Asia-Pacific region.

Gas sales from LNG projects in the Asia-Pacific region such as Gorgon are linked to swings in oil prices, meaning returns on investment are more vulnerable to volatility in commodity markets than export-oriented facilities in the U.S. In 2015, LNG prices in Asia roughly halved.

Gorgon is the largest single-resource development in Australia’s history, and has cost around $54 billion to build. It is built on a Class-A Nature Reserve.

Construction started on the project in 2009.

“But the long-term benefits will be even greater”.

The first official cargo of LNG from Gorgon is expected next week.

The project, which is starting up more than a year late and more than $12 billion over budget, together with other new LNG projects starting production in the 2014-17 period, should ensure Australia overtakes Qatar as the world’s biggest exporter of the fuel by the end of the decade. Off-topic, inappropriate or insulting comments will be removed.

At least 40 killed in Tunisian border clash with Islamist gunmen

The statement says 28 “terrorists” have been killed in the fighting, seven civilians and 10 members of Tunisia’s security forces.

In Paris, France’s foreign ministry identified the gunmen as “coming from Libyan territory”. But Tunisian Prime Minister Habib Essid directly accused Islamic State, also known as ISIS or ISIL.

While the situation has calmed down, authorities said a curfew will be implemented in the city on Monday evening.

The IS also claimed responsibility for the June and November attacks.

Ben Gardane is a major border town near Libya, and has been accused of being a hub for arms smuggling by militants around the border.

Bodies of dead insurgents lay in the streets said residents.

“I see three corpses on the ground”, she said.

The AP quoted a witness who said the gunmen spoke of creating a caliphate and “liberating” the town.

Speaking from Tunis, Nicholas Noe, of MideastWire.com, said the latest attack is a “significant turn” for Tunisia and the regional security.

The militants – thought to have swarmed over from the Libyan side of the border – fought running battles with police and soldiers in the town of Ben Guerdan, not far from the tourist resort of Djerba.

Washington has said Chouchane was likely among the dozens of militants killed, and that the strike probably averted a mass shooting or similar attack in Tunisia.

Islamic State fighters are now estimated to number between 2,000 and 5,000 in several different cells across Libya.

“This is an unprecedented attack, planned and organized”.

The predawn firefight at Ben Guerdane, Tunisia, 18 miles from the border, killed 21 attackers, with six more captured.

Tunisian security forces killed at least 35 militants in a series of failed attacks on multiple border posts Monday morning.

Last week, Tunisian security forces killed five heavily-armed men in an hours-long gunfight after they crossed into the country from Libya with a larger group.

State Department spokesman John Kirby condemned the “cowardly attack” and offered fresh U.S. help to Tunis, while European Union foreign policy chief Federica Mogherini said the attack “once more demonstrates the gravity of the threat faced by Tunisia“.

Monday’s attack came weeks after a US airstrike killed almost 40 people at an Islamic State training camp in the Libyan city of Sabratha, near the Tunisian border.

A medic said a 12-year-old boy was among the dead. The interior ministry said at least four of the five militants were Tunisians who had entered from Libya in a bid to carry out attacks in their homeland.

Turmoil followed in other countries such as Libya and Egypt that were also caught up in what was called the Arab Spring, while protests in Syria spiraled into a bloody civil war that still rages today.

The Shadow Moses project has been officially cancelled

In October 2015, a fan began work on remaking Metal Gear Solid (the original game) using Unreal Engine 4.

“We have to cancel the Shadow Moses Project for reasons beyond our control”, said the developer on the project’s Facebook page. No clarification was given on that vague reasoning, but the statement did end by thanking everyone for their support. Dubbed Project Shadow Moses, from the island featured in the game, the behemoth – unofficial – undertaking by Airam Hernandez was impressive to say the least. If a remake of MGS1 would be developed for PS4, it will most surely be epic. But as it turns out this won’t happen and the project has been cancelled. Konami might have some other plans in the future if they’re going to do a remake of MGS1 or probably they’ll just make Metal Gear Solid VI. Some IP holders choose to let the fan projects go unchecked, and a few even promote those remakes, but the majority tends to shoot them down.

Sad news for Metal Gear Solid fans, it looks like the Shadow Moses Project is cancelled. Konami owns the rights to the IP and nobody else is allowed to make a video game on the Metal Gear franchise apart from them.

Most gamers aren’t surprised at this news either given that Konami is not like Valve, and it was pretty obvious that based on the history of how they treated Hideo Kojima, who was obviously their most recognized employee, why would they be more lenient or accommodating to a random modder?

Barclays loss doubles, to sell African bank unit stake

Under Staley’s plan, Barclays’ business will be divided into two divisions, Barclays UK, which will include the ring-fenced high street operation, and Barclays Corporate & International, housing the group’s investment banking division.

Share slide. The stock has fallen 21% this year, extending a two-year slump that’s left the bank trading 50% less than its book value.

Barclays is expected to book hefty provisions for mis-selling charges when it announces its full-year results.

Barclays bought a 55 per cent stake in South African bank Absa in 2005 for $5.5 billion, later increasing it to a 62.3 per cent stake and rebranding Absa as Barclays Africa in 2013.

Further, the company declared a final dividend of 3.5 pence per share, making 6.5 pence in total for 2015.

Mr. Staley, who took up his post in December, told the BBC that the bank was competing on an global level: “In the last four years Barclays bonus pool has been cut in half… this is a dramatic move but we need to pay competitively whether it’s a bank manager in Manchester or a banker in NY, we need to pay our people competitively for Barclays to be competitive”.

Analysts said Barclays could not be selling at a worse time and they will struggle to find buyers, but Chinese banks might be interested.

Total incentives, including bonuses, were £1.6bn in 2015, down 10 per cent from £1.8bn in 2014.

The bank has cut more 5,700 jobs from the group since it started the recruitment freeze in autumn previous year. Barclays has operated in the continent for nearly a century and owns a 62% stake in Johannesburg-based Barclays Africa Group, which was built up under former chief executives John Varley and Robert Diamond.

It remains to be seen whether Barclays Africa, which on Monday issued a statement reaffirming its commitment to Africa, will revive plans to acquire the Zimbabwean and Egyptian banks after Barclays Plc’s exit.

It has 12 million customers across 12 countries including South Africa, Kenya, Botswana, Ghana, Zambia, Mauritius, Mozambique, Seychelles, Uganda, and Tanzania.

Net income excluding some items plunged 69% to $1.34bn during the year as prices for metals and oil collapsed. “Barclays has been in Africa for over 100 years”, Staley said.

Barclays Africa Group Limited (BAGL) wishes to reiterate that we remain committed to Africa, where we continue to be optimistic about our growth prospects, and to operate in the normal course of business, according to the company official press statement.

Tesla Motors Inc Begins Sending Out Invites For Model 3 Event

Several analysts have stated their opinion on the company shares. Morgan Stanley reduced their price target on shares of Tesla Motors from $450.00 to $333.00 and set an “overweight” rating for the company in a report on Monday, February 1st. The mean price target is determined and based on coming up with go through the consensus of 4 brokerage companies.

Invitations are now being sent out for the eagerly awaited debut of the Tesla Model 3 electric vehicle at the end of this month. Tesla Motors Inc. was the topic in 38 analyst reports since July 21, 2015 according to Stockz Intelligence Inc. Global Equities Research reaffirmed a “buy” rating and set a $385.00 target price on shares of Tesla Motors in a research report on Monday, January 4th. Janus Capital Management raised its position in shares of Tesla Motors by 757.2% in the third quarter. The fund owned 683,140 shares of the electric vehicle producer’s stock after selling 27,140 shares during the period. They now have a Dollars 325 price target on the stock. American Century Companies Inc. now owns 591,908 shares of the electric vehicle producer’s stock worth $142,064,000 after buying an additional 289,298 shares during the last quarter. However, 0 analysts issued a “HOLD RATING” for the company.

Both programs encouraged Tesla owners to refer friends by offering cash bonuses to both referrer and referred, and prizes for owners that made the most referrals in a given region.

02/03/2016 – Tesla Motors, Inc. had its “buy” rating reiterated by analysts at Dougherty & Co. The stock is up 3.56% or $6.96 after the news, hitting $202.7 per share.

CNET CBSi

The average forecast of earning per share (EPS) for the present fiscal quarter for Corporation remains at $-1.30 while the earning per share (EPS) estimate for the present year is fixed at $-2.18 by 4.00 analysts. The Company provides services for the development of electric powertrain components and sells electric powertrain components to other automotive manufacturers. Finally, Vanguard Group Inc. boosted its stake in shares of Tesla Motors by 3.9% in the fourth quarter. The shares were sold at an average price of $229.49, for a total value of $1,147,450.00.

Tesla Motors, Inc. (Tesla) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. The Company sells and produces a vehicle under the name Model S, which is a fully electric, four-door, five-adult passenger sedan.