Latest news with #FID
Yahoo
a day ago
- General
- Yahoo
Police respond to report that men 'brandished gun' at Ashland MA train station
Two men who are accused of brandishing a firearm on Thursday, May 29, at the MBTA Commuter Rail station platform in Ashland sparked a large police presence, authorities said. Police have charged the two men, who are both in their 20s, according to a press release from the Ashland Police Department. According to the release, police from Ashland, Framingham and Hopkinton, as well as the MBTA Transit Police, responded at 4:23 p.m. Thursday to the platform after fielding a 911 call. The caller told police that Commuter Rail employees removed two men from the train and that the pair 'were observed brandishing a firearm,' according to the release. More: How MetroWest benefits from MA transit agency's $9.8 billion capital investment plan Upon arrival, police, along with several police dogs, soon found the first suspect walking near the station. When the man saw police, he pulled a mask over his face and put both of his hands in his pockets, according to the release. Police stopped the man and took him into custody. When they frisked him, they found a 9mm Glock high-capacity magazine, police said in the release. Witnesses told police the second man had run into some nearby woods. Police found him soon after and took him into custody. He did not possess a gun, police said in the release. 'This incident highlights the dedication and bravery of the men and woman of the Ashland Police Department' Deputy Police Chief Michael Viniciulla said in a statement. 'The residents of Ashland can remain confident in the commitment of their police department to public safety at all times.' The two men, both of Marlborough, are charged with assault with a dangerous weapon; possession of a firearm without an FID card; and carrying a firearm without a permit. More: MetroWest transit agency has new, larger buses for its busiest route One man was also charged with assault and battery with a dangerous weapon. The second man was also charged with possession of ammunition without an FID card and possession of a large capacity feeding device. The case is being investigated by the MBTA Transit Police. They could not be reached for comment on Friday, May 30. Both suspects were arraigned Friday in Framingham District Court. Judge Michael Callahan ordered both held without bail, pending hearings to determine whether they are dangers to the public. One man's hearing is scheduled for Monday, June 2, and the second man's hearing is Wednesday, June 4. Norman Miller can be reached at 508-626-3823 or nmiller@ For up-to-date public safety news, follow him on X @Norman_MillerMW or on Facebook at This article originally appeared on MetroWest Daily News: Two men charged in gun incident at Ashland MBTA commuter rail station
Yahoo
a day ago
- Business
- Yahoo
Cobalt Blue to supply cobalt hydroxide to Glencore's Kwinana Refinery in Australia
Cobalt Blue Holdings has signed a contract to supply up to 50% of the feedstock requirements for Glencore International's Kwinana Cobalt Refinery (KCR). The refinery will be situated on Iwatani Australia's property in the Kwinana-Rockingham industrial precinct, offering logistical advantages due to its proximity to Fremantle port. The feedstock agreement, which spans three years, will commence with the start-up of KCR's commercial operations. The contract stipulates a minimum supply of 3,750 tonnes (t) of cobalt hydroxide over its term, with pricing linked to Fastmarkets' indices. Payments will be made in US dollars, and the terms of performance and termination rights align with standard industry practices. The feedstock for KCR will come from Glencore's operations in the Democratic Republic of Congo, the world's largest cobalt supplier. Despite Cobalt Blue's preference for Australian cobalt hydroxide, market dynamics have led to the exploration of international sources to meet the refinery's needs. Cobalt Blue CEO Andrew Tong said: 'We are thrilled to formalise a relationship with Glencore. Locking in at least 50% of KCR's feedstock requirements is a significant step in derisking the project that brings us closer to FID [final investment decision]. 'Developing a commercial partnership with one of the world's largest diversified miners helps solidify COB's [Cobalt Blue Holdings] position as a participant in the global cobalt industry. This relationship will also enable COB to play a strategically important role in building new battery and critical minerals supply chains among like-minded countries.' The KCR project, developed in partnership with Iwatani Australia, aims to be Australia's first cobalt sulphate refinery, contributing to the country's Critical Minerals Strategy. It is designed to produce battery-grade cobalt sulphate for the precursor cathode active material industry and cobalt metal for industrial and defence applications. Cobalt Blue and Iwatani Australia signed a pre-FID consortium deed to advance the project towards an FID by 31 December 2025. Cobalt Blue's Broken Hill Technology Centre has been piloting the KCR flowsheet since early 2024. The company has engaged Tetra Tech for engineering works and Green Values for permit applications in Western Australia. "Cobalt Blue to supply cobalt hydroxide to Glencore's Kwinana Refinery in Australia" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
3 days ago
- Business
- Yahoo
Woodside Energy Expands into U.S. LNG Market
Suppose you wanted to get into the LNG business in the U.S. to take advantage of the global low-cost of supply advantage held by America. So the desire and the rationale are there, but you'd like to avoid some of the headaches associated with building a liquefaction facility. Site selection, permitting, financing, and associated infrastructure to support moving field gas to your site; essentially 7-10 years' worth of work and trouble before you ever make a dime. In the meantime, maybe your stock tanks from upfront capex and interest charges, perhaps the commodity market turns against you, or a competitor beats you to the market and soaks up all the good offtake contracts. A myriad of stinging little flies to potentially beset you as you lurch toward FID. If you're a typical CEO, your consumption of aspirin and antacids begins to rise exponentially. Or you could just buy one off the shelf. One fully the biggest of these headaches, with ground already broken from an operator nearing bankruptcy and willing to sell for a song. It should also be noted that Driftwood was advantaged by sitting just below one of the largest gas fields in North America, with access to other basins already in place, and new, company-owned pipelines to bring gas already under development. That's the position Woodside Energy found itself in last fall. It didn't hesitate long before picking this plum off the ground. Woodside Energy, (NYSE:WDS), Australia's largest energy operator, has moved into the North American LNG market in a big way over the last 6-9 months. Beginning with its take-out of troubled LNG startup, Tellurian last fall, the company has moved at breakneck pace to move the fully permitted Driftwood LNG project along to FID. Just last month Woodside stunned the investing community by announcing FID approval for the first three trains of the 27.6 mpta Driftwood, now renamed Louisiana LNG. This is a bold move for this Australian energy producer that will bring on-line 16.5 mpta, and CEO Meg O'Neill noted the profound impact on the company in the press release- 'Louisiana LNG is a game changer for Woodside, set to position our company as a global LNG powerhouse and deliver enduring shareholder value for decades to come. Louisiana LNG combines access to an abundant US gas resource, a prime location with best-in-class EPC and technology partners. It builds on Woodside's proven strengths in project execution, operational excellence, and LNG marketing to deliver significant cash generation potential and drive long-term shareholder value.' Perhaps this move shouldn't have been a surprise. The company has been building a portfolio in the LNG space for some time now as noted in the next slide. With ground already broken by the former operator and an EPIC contract in place with Bechtel, one of the top engineering and consulting companies, much of the uncertainty around pre-FID was resolved enabling WDS to move rapidly in this regard. Some challenges remain as only about 1 mpta of the plant's approved 16.5 mpta output has been placed under long-term SPA's (Sales and Purchase Agreement), in a contract with Uniper-a, a German utility company. Other recent U.S. Gulf Coast LNG plants, notably Venture Global, and NextDecade, took the route of selling out 2/3 of their capacity before taking FID. By moving forward and entering the market in the late 2020s, WDS can leapfrog other potential projects and corner the market for supply gas. RBN in a recent blog post noted the impact that LA-LNG could have on projects still under FID review- 'An FID on a project of Louisiana LNG's magnitude — again, three trains with a combined capacity of 16.5 MMtpa — is sure to have an effect on developers promoting other, pre-FID projects along the Gulf Coast. These developers will now have a tougher job selling their projects, especially to investors and potential offtakers. Some pre-FID projects have large portions of their capacity 'contracted' but these deals are done with Heads of Agreement (HOAs) rather than SPAs, the latter of which is a binding contract for offtake while the former is a less formal agreement that either party can back out of.' Woodside's plan to derisk the project involves a significant reduction in its equity stake. One major announcement of an equity partner came last April, with Stonepeak taking a 40% equity interest in LA-LNG and funding 75% of the capital expense through 2026, thereby enabling WDS to defer its capex to 2027, when Scarborough is expected to be online. CEO Meg O' Neill was quoted at CERAWeek in a WSJ article- 'Woodside is involved in intensive discussions with a couple of parties interested in participating in its newly approved $17.5 billion Louisiana LNG gas-export project. Woodside wants to reduce its capital commitments to roughly half the cost of developing the project, which will be built in phases and is targeting production of liquefied natural gas for the first time in 2029.' Through the development of its Pacific Basin (Australian) projects, including Pluto and Scarborough, Woodside has emerged as an experienced LNG plant developer. The opportunity to acquire a derisked and permitted facility with access to low-cost U.S. gas was dangling in the market, and was ultimately seized by the company. The U.S. is the low-cost provider of natural gas globally and much of the current growth in supply from shale is being underpinned by export opportunities to capture more advantageous pricing in the Korean-JKM, and Dutch-TTF, markets. Your takeaway Woodside stock has taken a shellacking over the last year, down 25%. This is primarily due to the downdraft in commodity prices affecting cash flow, combined with high capex outlays for Scarborough. I think the company rates a buy at current levels irrespective of multiples in anticipation of a cash waterfall a few years hence for patient investors as sales ramp up and capex diminishes. With three trains online WDS has the capacity to be exporting a couple of hundred cargoes out of LA-LNG as the next decade starts, with an additional ~150 cargoes from the later brownfield development of trains 4-5. The buy case for WDS is certainly around Scarborough and LA-LNG coming on line as we head into the 2030's The company trades at a pretty attractive EV/EBITDA multiple-4.11X in comparison with other participants in the LNG cohort, including segment leader, Cheneire Energy, (NYSE:LNG) at 11X. It also pays a nearly 9% yielding dividend that is well covered by cash flow, with a payout ratio-68% that might bear a little watching. There are risks to this thesis, notably the $9.0 billion in debt the company has accumulated building Scarborough. In contrast, they have $4 billion in cash and an undrawn $6.5 billion RCF. Maturities are spaced out every 4 years, preventing any sort of a credit squeeze. The LNG market appears to have a long runway, thanks to increasing energy demand projections in Asia, Africa, and Latin America. If they don't pan out, the company could have some problems. Most analysts view the long-term market for LNG as being robust for the next several decades. If you're one of those investors who looked at Cheneire a dozen years ago at $15.00 and passed, and watched it ramp ever higher ever since, this could be your chance to get in on the fun. By David Messler for More Top Reads From this article on 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
3 days ago
- General
- Yahoo
Two arrested in Holyoke traffic stop connected to shots fired incident
HOLYOKE, Mass. (WWLP) – Two suspects were arrested in Holyoke on Tuesday in connection with a shots fired investigation. Holyoke Police Chief Brian Keenan stated in a social media post that at approximately 9:55 p.m. on Sunday, officers received a report of shots fired in the area of East Dwight Street and Center Street. Approximately 13 shell casings were located, but no victims or property damage was found. Springfield police seize gun and drugs from suspect found in Hennessy Park Police began an investigation into the incident and identified two suspects, 42-year-old Glenn Jacobs of Holyoke and 20-year-old Xavier Medina of Springfield. Officers were granted a warrant for their arrest. On Tuesday, members of the Hampden County Narcotics Task Force, including Holyoke officers, conducted an unrelated traffic stop at approximately 4:05 p.m. near the intersection of Lyman Street and Open Square Way. Troopers discovered that Jacobs was the driver and Medina was a passenger of the vehicle, and both were arrested. Glenn Jacobs is charged with: Arrest Warrant – Holyoke District Court Discharging a Firearm within 500 Feet of a Building Possession of a Firearm without an FID Card Possession of Ammunition without an FID Card Xavier Medina is charged with: Arrest Warrant – Holyoke District Court Discharging a Firearm within 500 Feet of a Building Possession of a Firearm without an FID Card Possession of Ammunition without an FID Card WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
3 days ago
- General
- Yahoo
Shots-fired call leads to 2 arrests in Holyoke
HOLYOKE — A shots-fired incident over the weekend led police to make two arrests in the case on Tuesday, according to the Holyoke Police Department. On Sunday at about 9:55 p.m., Holyoke police were dispatched to East Dwight and Center streets because of gunfire. Officers collected 13 shell casings at the scene, but found no victims or property damage. Through their investigation, officers identified two suspects, Glenn Jacobs, 42, and Xavier Medina, 20, and were granted a warrant for their arrests. On Tuesday, the Hampden County Narcotics Task Force was working on an unrelated investigation, but around 4:05 p.m. conducted a traffic stop at Lyman Street and Open Square Way in which Jacobs was the driver and Medina the passenger. They were both arrested. Jacobs, of Holyoke, and Medina, of Springfield, are both charged with discharging a firearm within 500 feet of a building, and possession of both a firearm and ammunition without an FID card. Read the original article on MassLive.
