Latest news with #526
Yahoo
29-05-2025
- General
- Yahoo
Charleston City Council discusses taking ownership of a portion Maybank Highway, adding a new lane
JOHNS ISLAND, S.C. (WCBD) – Charleston City Council members discussed taking control of a portion of Maybank Highway Wednesday which would allow them to add a new lane. During the Traffic and Transportation committee meeting, Mayor William Cogswell presented members with a proposal to take ownership of the stretch from River Road to the Paul Gelegotis bridge. The road is currently owned by the South Carolina Department of Transportation. 'My wife works at MUSC downtown, I know that she is often frustrated by the traffic situation. So, I think that adding another lane would be beneficial,' Kevin Gillen, a Johns Island resident, said. Nearby residents, like Gillen, told News 2, they are in favor of getting the additional lane as traffic can back up during peak hours. Officials said by owning this section, it can enable them to cut through red tape and expedite the process. 'So, what we're proposing is narrowing the lanes, but also slowing the speed limit so that people are safe. If you have an 11 foot lane you're not going 40 miles an hour. You're going 25 miles an hour,' Cogswell said. 'What that will do though is it may slow you down but the throughput is going to be obviously a lot more than just one lane.' Current designs from Charleston County and the SCDOT show the project taking over two years and the removal of many grand oak trees along the road. The city would be able to go around the requirements of the lane widths while maintaining safety and the trees. Additionally, this project would require funding from the County, which may come from money set aside from the 526 project. The settlement may allot for around $15 million. Gillen added living on Fenwick Hall Allee has allowed to get him and his wife to travel off the island faster, especially with the majority of the traffic being past the River Road zipper merge. 'It's one of the reasons why we picked the location we're in is that we knew it would be a short trip on Maybank to get to the bridge. My wife knew that because of the situation further down on Maybank. We've see a lot of growth here on the island, so I'm sure as more people move in and the population increases – it just makes sense to put another lane in to plan for the additional traffic that's coming.' The mayor said this is a quicker, cost-effective solution to an issue that affects many coming off of Johns Island. 'This is a real bottleneck, a real problem that's not going away anytime soon in fact it's only getting worse. I think it's incumbent on us in local government to try and address this as quickly as possible,' Cogswell said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
23-05-2025
- Business
- Yahoo
Oil & Natural Gas Corp Ltd (BOM:500312) Q4 2025 Earnings Call Highlights: Navigating ...
Profit After Tax (PAT): INR35,610 crores for FY '25, down 12.1% from INR40,526 crores in FY '24. Sales Revenue: INR1,37,361 crores for FY '25, slightly down from INR1,37,774 crores in FY '24. Operating Expenditure: Increased by 2.8% to INR27,478 crores in FY '25 from INR26,725 crores in FY '24. Exploration Costs: Increased by INR4,257 crores to INR9,826 crores in FY '25. Reserve Replacement Ratio: 1.35 from domestic fields, excluding JV share. Wells Drilled: 578 wells, the highest in 35 years, including 109 exploratory and 469 development wells. Capital Expenditure (CapEx): INR62,000 crores, the highest ever, with INR10,300 crores in exploration CapEx. Crude Oil Production: 18.558 million metric tonnes, up 0.9% from the previous year. Natural Gas Production: 19.654 BCM, slightly down from 19.978 BCM in FY '24. Dividend Payout: Total dividend of 245% with a payout of INR15,411 crores. Consolidated Profit After Tax: INR38,326 crores, down 30.7% from INR55,272 crores in FY '24. Consolidated Gross Revenue: Increased by 1.5% to INR6,63,262 crores in FY '25. Renewable Energy Capacity: Increased to 2.5 gigawatts from 192 megawatts. Warning! GuruFocus has detected 4 Warning Signs with BOM:500312. Release Date: May 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Oil & Natural Gas Corp Ltd (BOM:500312) achieved a reserve replacement ratio of more than 1 for the 19th consecutive year, indicating strong resource replenishment. The company drilled 578 wells, the highest in the past 35 years, showing a significant increase in exploration and development activities. A final dividend of 25% was recommended, with a total dividend payout ratio of 245%, marking the highest quantum of dividend paid by the company. The company reported an increase in standalone crude oil production by 0.9% over the previous year, reflecting successful production enhancement efforts. Significant investments in renewable energy have increased capacity to 2.5 gigawatts, positioning the company as a formidable player in the renewable sector. Profit after tax decreased by 12.1% from the previous year, primarily due to higher exploratory well write-offs. Operating expenditure increased by 2.8%, impacting overall profitability. Exploration costs, including survey and dry well costs, rose significantly by INR4,257 crores, indicating higher expenses in exploration activities. Consolidated profit after tax decreased by 30.7%, largely due to a decline in profits from subsidiaries HPCL, MRPL, and Opal. Natural gas production saw a slight decline from 19.978 BCM in financial year '24 to 19.654 BCM in financial year '25, indicating challenges in maintaining gas output levels. Q: Can you provide an update on the KG 98/2 oil and gas production levels and future targets? A: Currently, oil production is at 33,000 to 34,000 barrels per day, with a target of 45,000 barrels. Gas production is around 2.75 MMSCMD, expected to increase to 6-7 MMSCMD once the platform is completed, and eventually reach 10 MMSCMD. This increase is anticipated within the financial year '25-'26. (Arun Singh, CEO) Q: What is the current input mix for OPaL, and how will it change with future ethane imports? A: Currently, OPaL operates with a 60% naphtha and 40% ethane mix. This will remain the same, but the ethane source will shift from rich gas to US imports. Moving out of SEZ has saved INR700-800 crores due to the removal of customs duty. (Arun Singh, CEO) Q: What are the production targets for crude oil and natural gas for FY26 and FY27? A: For crude oil, the target is around 21.5 million tonnes for FY25-26, with a positive trajectory expected to continue. For natural gas, the target is 21 BCM for FY25-26, increasing to 22 BCM in FY26-27, reflecting a 5-6% annual growth. (Arun Singh, CEO) Q: How is ONGC managing cost controls and fleet investments? A: ONGC is benefiting from reduced rig rates and optimizing logistics by opening a new base in Gujarat. The company is considering investing in its own fleet due to vessel shortages and high market rates. Cost control measures are expected to yield further savings in the coming years. (Arun Singh, CEO) Q: What is the outlook for ONGC Videsh's international assets, particularly in Mozambique and Russia? A: Mozambique's LNG project is progressing well, with commissioning expected by late '27 or early '28. Production in Russia remains stable, and there are increases in Colombia, South Sudan, and Azerbaijan. ONGC Videsh's production increased by 9% last year, with further upside expected. (Unidentified Company Representative, ONGC Videsh) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
23-05-2025
- Business
- Yahoo
Oil & Natural Gas Corp Ltd (BOM:500312) Q4 2025 Earnings Call Highlights: Navigating ...
Profit After Tax (PAT): INR35,610 crores for FY '25, down 12.1% from INR40,526 crores in FY '24. Sales Revenue: INR1,37,361 crores for FY '25, slightly down from INR1,37,774 crores in FY '24. Operating Expenditure: Increased by 2.8% to INR27,478 crores in FY '25 from INR26,725 crores in FY '24. Exploration Costs: Increased by INR4,257 crores to INR9,826 crores in FY '25. Reserve Replacement Ratio: 1.35 from domestic fields, excluding JV share. Wells Drilled: 578 wells, the highest in 35 years, including 109 exploratory and 469 development wells. Capital Expenditure (CapEx): INR62,000 crores, the highest ever, with INR10,300 crores in exploration CapEx. Crude Oil Production: 18.558 million metric tonnes, up 0.9% from the previous year. Natural Gas Production: 19.654 BCM, slightly down from 19.978 BCM in FY '24. Dividend Payout: Total dividend of 245% with a payout of INR15,411 crores. Consolidated Profit After Tax: INR38,326 crores, down 30.7% from INR55,272 crores in FY '24. Consolidated Gross Revenue: Increased by 1.5% to INR6,63,262 crores in FY '25. Renewable Energy Capacity: Increased to 2.5 gigawatts from 192 megawatts. Warning! GuruFocus has detected 4 Warning Signs with BOM:500312. Release Date: May 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Oil & Natural Gas Corp Ltd (BOM:500312) achieved a reserve replacement ratio of more than 1 for the 19th consecutive year, indicating strong resource replenishment. The company drilled 578 wells, the highest in the past 35 years, showing a significant increase in exploration and development activities. A final dividend of 25% was recommended, with a total dividend payout ratio of 245%, marking the highest quantum of dividend paid by the company. The company reported an increase in standalone crude oil production by 0.9% over the previous year, reflecting successful production enhancement efforts. Significant investments in renewable energy have increased capacity to 2.5 gigawatts, positioning the company as a formidable player in the renewable sector. Profit after tax decreased by 12.1% from the previous year, primarily due to higher exploratory well write-offs. Operating expenditure increased by 2.8%, impacting overall profitability. Exploration costs, including survey and dry well costs, rose significantly by INR4,257 crores, indicating higher expenses in exploration activities. Consolidated profit after tax decreased by 30.7%, largely due to a decline in profits from subsidiaries HPCL, MRPL, and Opal. Natural gas production saw a slight decline from 19.978 BCM in financial year '24 to 19.654 BCM in financial year '25, indicating challenges in maintaining gas output levels. Q: Can you provide an update on the KG 98/2 oil and gas production levels and future targets? A: Currently, oil production is at 33,000 to 34,000 barrels per day, with a target of 45,000 barrels. Gas production is around 2.75 MMSCMD, expected to increase to 6-7 MMSCMD once the platform is completed, and eventually reach 10 MMSCMD. This increase is anticipated within the financial year '25-'26. (Arun Singh, CEO) Q: What is the current input mix for OPaL, and how will it change with future ethane imports? A: Currently, OPaL operates with a 60% naphtha and 40% ethane mix. This will remain the same, but the ethane source will shift from rich gas to US imports. Moving out of SEZ has saved INR700-800 crores due to the removal of customs duty. (Arun Singh, CEO) Q: What are the production targets for crude oil and natural gas for FY26 and FY27? A: For crude oil, the target is around 21.5 million tonnes for FY25-26, with a positive trajectory expected to continue. For natural gas, the target is 21 BCM for FY25-26, increasing to 22 BCM in FY26-27, reflecting a 5-6% annual growth. (Arun Singh, CEO) Q: How is ONGC managing cost controls and fleet investments? A: ONGC is benefiting from reduced rig rates and optimizing logistics by opening a new base in Gujarat. The company is considering investing in its own fleet due to vessel shortages and high market rates. Cost control measures are expected to yield further savings in the coming years. (Arun Singh, CEO) Q: What is the outlook for ONGC Videsh's international assets, particularly in Mozambique and Russia? A: Mozambique's LNG project is progressing well, with commissioning expected by late '27 or early '28. Production in Russia remains stable, and there are increases in Colombia, South Sudan, and Azerbaijan. ONGC Videsh's production increased by 9% last year, with further upside expected. (Unidentified Company Representative, ONGC Videsh) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-03-2025
- Politics
- Yahoo
Proposed law would give relief to residents whose neighborhood is covered in thick layers of grime: 'You could literally taste it'
Sun Valley residents have watched dust settle over their streets, their cars, and even the air they breathe for years. Thick layers of grime coat the neighborhood, kicked up by nearby industrial sites that process and store construction materials like concrete and asphalt. Complaints have piled up just as high as the dust, but little has changed — until now. State Senator Caroline Menjivar has introduced Senate Bill (SB) 526, pushing for stricter regulations on aggregate facilities so that neighborhoods can breathe easier, according to the San Fernando Valley Sun. "With each complaint having gone unresolved, residents have given up on hoping the government addresses their concerns," said Menjivar. "That ends today." These facilities release fine dust particles known as PM10, which can seep into homes, settle on playgrounds, and cause serious respiratory issues. Yet, the regulations meant to keep them in check haven't been updated since 2006. If passed, SB 526 would strengthen oversight and force these businesses to take real steps to control pollution. Facilities would need to install taller fencing to keep dust from escaping, limit the height of storage piles near homes and schools, and set up air quality monitoring systems at their boundaries. If they repeatedly exceed pollution limits, they'd be required to enclose their storage piles and undergo frequent inspections until they comply. Sun Valley is home to 11 aggregate facilities within a three-mile radius, including AMH Recycling, the largest in the San Fernando Valley, which sits directly across from homes, a park, and two elementary schools. Residents say the pollution is impossible to ignore. "Residents' cars were covered in a dust so thick you could literally taste it, and yet neighborhood kids were playing soccer in a park across the street from the facility," said Ian Bertrando, a UCLA law student who did research in the area. According to Mariam Moore, CEO of The Climate Corps Initiative, the "intrusion of industrial facilities" in Sun Valley has worsened the community's public health crisis. Long-term exposure to this type of pollution can lead to asthma, chronic respiratory diseases, and other serious health problems. Menjivar made it clear that the bill isn't about shutting down the industry but about forcing it to operate responsibly. "I'm not trying to get rid of them," she said. "But they need to be top-notch neighbors." The bill is advancing with a window for amendments, and Menjivar's team is focused on rallying support from community members and environmental justice groups. If passed, it could set a precedent for other communities facing similar environmental injustices, proving that residents don't have to accept pollution as an unavoidable part of life. Do you worry about air pollution in your town? All the time Often Only sometimes Never Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
