Latest news with #RichardWard
Libya Review
07-05-2025
- Business
- Libya Review
US Oil Giant Weatherford Resumes Operations in Libya
The US-based oilfield services giant Weatherford has officially announced its return to Libya after more than a decade of absence, marking a significant development in the country's efforts to revitalize its energy sector and attract major international partners. The announcement was made during a meeting on Wednesday between Richard Ward, Deputy Executive Director of Weatherford, and Masoud Suleiman, Chairman of Libya's National Oil Corporation (NOC), at the NOC's headquarters in Tripoli. Ward confirmed that the company is fully prepared to resume its technical operations and field services in Libya, highlighting Weatherford's serious commitment to restoring its presence and contributing to the recovery of Libya's oil industry. Weatherford was previously active in the country but suspended its operations following the outbreak of conflict in 2011. Its return is seen as a sign of renewed international confidence in the Libyan market, particularly in the oil and gas sector, which remains the backbone of the national economy. During the meeting, both sides discussed practical steps to reinitiate services, including technical support for national oil companies, the implementation of advanced field solutions, and plans for long-term cooperation. The NOC welcomed the company's decision to return and emphasized the importance of leveraging international expertise to enhance operational efficiency and upgrade oil infrastructure across Libya. This renewed partnership is expected to play a role in boosting Libya's oil production capacity, which is crucial for economic recovery and fiscal stability. The NOC continues to encourage the return of international companies that had suspended work during past periods of instability, as part of a broader strategy to rebuild trust and ensure sustainable investment in the sector. Tags: libyanocoilusWeatherford
Libya Review
06-05-2025
- Business
- Libya Review
US Oil Services Giant Weatherford Resumes Operations in Libya
American oilfield services company Weatherford International has officially resumed its operations in Libya after more than ten years of suspension, in a significant step forward for the country's energy sector recovery. The announcement came during a meeting in Tripoli between Weatherford's Deputy CEO Richard Ward and the Chairman of Libya's National Oil Corporation (NOC). Ward confirmed that Weatherford has already restarted providing services to Libyan oil companies, operating from its new headquarters in the Hay Al-Andalus district of the capital. Ward stated that the company is fully prepared to deliver comprehensive technical and field services at the Jalu 59 oilfield. He emphasised Weatherford's readiness to support the Libyan energy industry with its expertise and advanced oilfield technologies. Expressing the company's commitment to long-term cooperation, Ward reaffirmed Weatherford's intention to work closely with Libyan oil institutions and maintain the highest standards of service delivery across all operations. This move marks a key milestone in Libya's efforts to revitalise its oil and gas infrastructure, which has suffered setbacks due to years of conflict and instability. Tags: libyanocoiltripoliusWeatherford
Business Times
30-04-2025
- Business
- Business Times
UK student homes taking longer to fill on weaker overseas demand
[LONDON] The proportion of UK student dorms that are leased for the next academic year has fallen sharply as a post-pandemic boom that's lured a plethora of the world's biggest private equity firms begins to fade. As of March, just 36 per cent of beds available for September had been signed, down from 46 per cent from a year earlier, according to data compiled by StuRents, an online portal for student accommodation. That's the lowest since the company began compiling the data four years ago and represents a more than 15 percentage point drop from the peak in March 2023 when more than half of beds were already accounted for, StuRents' data show. The historic under-supply of the kind of purpose-built accommodation that most appeals to wealthy overseas students has attracted a raft of global investors to the sector. Apollo Global Management, EQT Exeter, Brookfield and Lone Star are among sellers currently offering £2.5 billion (S$4.37 billion) of student housing for sale, Green Street News reported, while Blackstone's vast IQ Student Accommodation business is among its largest real estate bets in Europe. The post-pandemic surge in leasing caused by pent up demand 'has proved to be temporary,' said Richard Ward, the head of research at StuRents. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up 'We have seen a softening in leasing velocity, particularly in markets where development pipelines resulted in an uptick in accommodation just as international student numbers, especially at the postgraduate level, began to decline.' International students have become pivotal to the financial fortunes of both the UK higher education sector and the investors betting on student housing, given the higher fees paid and a propensity to stomach higher rents than domestic peers. While the number of European Union applicants has fallen significantly since Brexit, until recently that has been largely offset by a rise in foreign students from outside the bloc. But changes to visa requirements and increased competition from other countries have begun to impact numbers. And that's being compounded by a cost of living crisis that has encouraged some domestic students to skip university in favour of paid work. The number of both UK and non-UK university entrants is significantly below the sector's forecasts for 2024-2025, according to research published in November by the Office for Students. The headline data indicating supply shortages masks a more nuanced reality where some university towns and cities are starting to see a surfeit of space, according to Ward. Still, there are early indications that US President Donald Trump's targeting of US universities could lead to an increase in interest from students applying to study in the UK. 'Several cities that were previously considered strong student markets from an investor's perspective are likely to continue to experience challenges in filling beds over the next few academic cycles,' Ward said. 'The UK higher education market remains an attractive proposition for international students, albeit the current financial difficulties faced by many institutions should be closely monitored.' BLOOMBERG
Economic Times
30-04-2025
- Business
- Economic Times
UK student homes taking longer to fill on weaker overseas demand
Bloomberg Live Events You Might Also Like: India may need to check its high hopes on a UK visa bonanza amid FTA push The proportion of UK student dorms that are leased for the next academic year has fallen sharply as a post-pandemic boom that's lured a plethora of the world's biggest private equity firms begins to of March, just 36% of beds available for September had been signed, down from 46% from a year earlier, according to data compiled by StuRents, an online portal for student accommodation. That's the lowest since the company began compiling the data four years ago and represents a more than 15 percentage point drop from the peak in March 2023 when more than half of beds were already accounted for, StuRents' data historic under-supply of the kind of purpose-built accommodation that most appeals to wealthy overseas students has attracted a raft of global investors to the sector. Apollo Global Management Inc., EQT Exeter, Brookfield and Lone Star are among sellers currently offering £2.5 billion ($3.3 billion) of student housing for sale, Green Street News reported, while Blackstone Inc.'s vast IQ Student Accommodation business is among its largest real estate bets in post-pandemic surge in leasing caused by pent up demand 'has proved to be temporary,' said Richard Ward, head of research at StuRents. 'We've seen a softening in leasing velocity, particularly in markets where development pipelines resulted in an uptick in accommodation just as international student numbers, especially at the postgraduate level, began to decline.'(Join our ETNRI WhatsApp channel for all the latest updates)International students have become pivotal to the financial fortunes of both the UK higher education sector and the investors betting on student housing, given the higher fees paid and a propensity to stomach higher rents than domestic peers. While the number of EU applicants has fallen significantly since Brexit, until recently that has been largely offset by a rise in foreign students from outside the changes to visa requirements and increased competition from other countries have begun to impact numbers. And that's being compounded by a cost of living crisis that has encouraged some domestic students to skip university in favor of paid number of both UK and non-UK university entrants is significantly below the sector's forecasts for 2024-2025, according to research published in November by the Office for headline data indicating supply shortages masks a more nuanced reality where some university towns and cities are starting to see a surfeit of space, according to Ward. Still, there are early indications that President Donald Trump's targeting of US universities could lead to an increase in interest from students applying to study in the UK.'Several cities that were previously considered strong student markets from an investor's perspective are likely to continue to experience challenges in filling beds over the next few academic cycles,' Ward said. 'The UK higher education market remains an attractive proposition for international students, albeit the current financial difficulties faced by many institutions should be closely monitored.'
Time of India
30-04-2025
- Business
- Time of India
UK student homes taking longer to fill on weaker overseas demand
The proportion of UK student dorms that are leased for the next academic year has fallen sharply as a post-pandemic boom that's lured a plethora of the world's biggest private equity firms begins to fade. #Pahalgam Terrorist Attack The groundwork before India mounts a strike at Pakistan India considers closing airspace to Pakistani carriers amid rising tensions Cold Start: India's answer to Pakistan's nuclear threats As of March, just 36% of beds available for September had been signed, down from 46% from a year earlier, according to data compiled by StuRents, an online portal for student accommodation. That's the lowest since the company began compiling the data four years ago and represents a more than 15 percentage point drop from the peak in March 2023 when more than half of beds were already accounted for, StuRents' data show. The historic under-supply of the kind of purpose-built accommodation that most appeals to wealthy overseas students has attracted a raft of global investors to the sector. Apollo Global Management Inc., EQT Exeter, Brookfield and Lone Star are among sellers currently offering £2.5 billion ($3.3 billion) of student housing for sale, Green Street News reported, while Blackstone Inc.'s vast IQ Student Accommodation business is among its largest real estate bets in Europe. The post-pandemic surge in leasing caused by pent up demand 'has proved to be temporary,' said Richard Ward, head of research at StuRents. 'We've seen a softening in leasing velocity, particularly in markets where development pipelines resulted in an uptick in accommodation just as international student numbers, especially at the postgraduate level, began to decline.' (Join our ETNRI WhatsApp channel for all the latest updates) Bloomberg International students have become pivotal to the financial fortunes of both the UK higher education sector and the investors betting on student housing, given the higher fees paid and a propensity to stomach higher rents than domestic peers. While the number of EU applicants has fallen significantly since Brexit, until recently that has been largely offset by a rise in foreign students from outside the bloc. Live Events You Might Also Like: India may need to check its high hopes on a UK visa bonanza amid FTA push But changes to visa requirements and increased competition from other countries have begun to impact numbers. And that's being compounded by a cost of living crisis that has encouraged some domestic students to skip university in favor of paid work. The number of both UK and non-UK university entrants is significantly below the sector's forecasts for 2024-2025, according to research published in November by the Office for Students. The headline data indicating supply shortages masks a more nuanced reality where some university towns and cities are starting to see a surfeit of space, according to Ward. Still, there are early indications that President Donald Trump's targeting of US universities could lead to an increase in interest from students applying to study in the UK. 'Several cities that were previously considered strong student markets from an investor's perspective are likely to continue to experience challenges in filling beds over the next few academic cycles,' Ward said. 'The UK higher education market remains an attractive proposition for international students, albeit the current financial difficulties faced by many institutions should be closely monitored.'
