Latest news with #Sharing
The Star
3 days ago
- Business
- The Star
Myanmar, Thai firm sign exploration deal for Mottama offshore block Min Ye Thu project
YANGON: On May 29, the Myanmar Oil and Gas Enterprise under the Ministry of Energy, and Gulf Petroleum Myanmar Co., Ltd., a Myanmar-based Thai-owned company, signed a Production Sharing Contract (PSC) to explore, drill, produce and exploit oil and gas in Mottama offshore block (M-10) (Min Ye Thu project) at the office of the Ministry of Energy, Nay Pyi Taw. The ceremony was attended by Union Minister, Deputy Minister, Director General of the Union Cabinet, Directors General and Managing Directors of Departments, Heads of Departments, and officials from Gulf Petroleum Myanmar Co., Ltd. Union Minister U Ko Ko Lwin said that the Ministry of Energy is committed to exploring, drilling, producing and exploiting oil and gas in order to meet the country's energy needs and increase national revenue. We are continuously working to increase production," he said. "Most countries in the world still rely on natural gas, which is a clean energy source." The demand for natural gas has increased significantly, he added. "Our country has sufficient natural gas reserves and needs to systematically extract and use them. The current large offshore projects are naturally decreasing in production and the completion of the projects is approaching." Therefore, Myanmar plans to explore, drill and produce oil and natural gas in blocks with good potential. The Mottama Offshore Block M-10 will provide benefits such as increased investment in oil and natural gas exploration, drilling and production, increased foreign exchange earnings, creation of local job opportunities, and meeting the domestic demand for oil and natural gas from one source, he predicted. He urged the respective parties to work hard to achieve the project target of producing first natural gas by 2028, and thanked all the related ministries, staff from Gulf Petroleum Myanmar Co., Ltd. and the Ministry of Energy for their cooperation in signing the contract. The state currently has four major offshore projects, namely Yadana, Yetagun, Zawtika, and Shwe, which are currently exploring, drilling, and producing oil and natural gas, and two more offshore projects that are currently exploring, drilling, and producing. There are a total of six major offshore projects, so the Mottama Offshore Block M-10 is the seventh major offshore project of the country and the first offshore project to be implemented under the State Administration Council. - Eleven Media/ANN
Barnama
15-05-2025
- Business
- Barnama
PETRONAS, XRG, Hazarnebit and Turkmennebit Partner On Strategic Gas Asset In Turkmenistan
ASHGABAT, May 15 (Bernama) -- PETRONAS, XRG, State Enterprise Hazarnebit, and State Concern Turkmennebit have signed a new Production Sharing Contract (PSC) for the Block I gas and condensate fields in Turkmenistan. As part of the transaction, a long-term Gas Sales Agreement (GSA) was also signed with State Concern Turkmengas. Under the terms of the PSC, PETRONAS will hold 57% participating interest as the operator, partnering with XRG (38%), with State Enterprise Hazarnebit holding the remaining 5%.
CBC
26-03-2025
- Automotive
- CBC
Canada freezes rebate payments to Tesla, bars it from future programs due to tariffs
Social Sharing Canada has frozen all rebate payments for Tesla and banned the electric-vehicle maker from future EV rebate programs, Transport Minister Chrystia Freeland said on Tuesday. No rebate payments will be made until each claim is individually investigated and determined to be valid, Freeland said in an emailed statement shared by her office. Freeland also directed Transport Canada to revise eligibility requirements for future Incentives for Zero-Emission Vehicles (iZEV) programs to ensure that Tesla vehicles are not eligible as long as the "illegitimate and illegal U.S. tariffs are imposed against Canada." Tesla did not immediately respond to a Reuters request for comment. U.S. President Donald Trump has imposed a slew of tariffs, with the bulk due in early April, in the form of 25 per cent taxes on most goods from Canada. Trump on Monday said automobile tariffs are coming soon, although not all of his threatened levies would be enforced on April 2 as previously indicated. Canada has frozen $43 million in rebate payments for Tesla. The order to stop the payments came before Liberal Leader Mark Carney announced a general election would take place April 28, according to the Toronto Star, which reported the news earlier. The Star reported earlier this month that Tesla filed an extraordinary number of EV rebate claims in the final days of the program in January, with a single Tesla dealership in Quebec City claiming nearly $20 million in public subsidies by documenting more than 4,000 electric vehicle sales over a single weekend. Ontario stopped providing financial incentives for Teslas purchased as taxis or ride shares because of trade tensions with the U.S. earlier this month. Tesla CEO Elon Musk, a close ally of Trump, has been leading the White House effort to shrink the federal government and budget as the head of the Department of Government Efficiency.
Yahoo
21-03-2025
- Yahoo
Cruise passengers were told to draw curtains and turn off lights as they passed through a pirate hot spot
Cunard's Queen Anne cruise ship heightened its security while navigating piracy-prone waters. Passengers were told to avoid the deck overnight, draw their curtains, and turn off their lights. Cunard said it was standard procedure when sailing in certain waters. Passengers aboard Cunard's Queen Anne cruise ship were advised to take precautions last week as the 114,000-ton vessel navigated a piracy-prone area in Southeast Asia during its maiden world voyage. The 111-night trip, which began in Germany in January, saw the ship traveling between Darwin, Australia, and Manila in the Philippines last week, passing through the Sulu-Celebes Sea. Prior to navigating the waters, which the International Centre for Counter-Terrorism once described as a "hotbed for crime, piracy, and terrorism," the captain issued an onboard safety warning. In a video of a loudspeaker announcement to passengers, which Cunard didn't dispute took place, the captain informed passengers the ship would be operating at a "heightened level of security alertness" while crossing an area known for piracy threats. As part of these security measures, passengers were told over the loudspeaker that the external promenade decks would be closed overnight, and only essential open-deck lights would remain on to minimize the ship's visibility. Passengers were also asked to turn off their stateroom lights when not needed and to keep their curtains drawn. The Queen Anne is Cunard's fourth luxury cruise ship. It can accommodate 2,996 guests, as well as 1,225 crew, and has thousands of pieces of art on board, as well as facilities for activities such as archery and pickleball. The waters between Indonesia, Malaysia, and the Philippines were once notorious for kidnapping-for-ransom incidents, particularly by the Abu Sayyaf Group, a jihadist militant and pirate group. Between late 2016 and mid-2022, ships were advised to avoid the area, with ReCAAP's Information Sharing Centre, which tracks piracy in Asia, deeming the threat of abduction to be high. No abduction incidents have been reported in the area since January 2020, and the threat level was downgraded to "low" in January 2025. While attacks on cruise ships are rare, they're not unheard of. In 2009, Somali pirates attempted to board the MSC Melody near the Seychelles. Passengers threw tables and deck chairs overboard before pistol fire caused the pirates to retreat. Pirates typically target oil tankers and container ships rather than cruise ships. Nonetheless, a spokesperson for Cunard said taking such precautions was standard procedure in certain areas. "As part of standard maritime procedures, our Captains may make precautionary announcements when sailing through certain regions," the spokesperson told Business Insider. They added: "There was no specific threat to the ship or its guests, and our onboard experience remained uninterrupted." Read the original article on Business Insider
CBC
18-03-2025
- Business
- CBC
Holt Liberals prepare first budget amid economic uncertainty
Social Sharing The Holt government tables its first budget today, a document the Liberals once confidently predicted would feature campaign promises fulfilled, combined with a modest fiscal surplus. Instead, with economic uncertainty from the threat of U.S. tariffs on Canadian exports, the question is how big the budget deficit might be. Finance Minister René Legacy warned last month that a deficit appeared unavoidable in the upcoming 2025-26 fiscal year. "I would say it's getting obvious that it's highly likely," he said at the time. In a social media video last Friday, Premier Susan Holt said her government "cannot keep kicking the can down the road" and would bring "transformational change" to some government services, including the delivery of primary care. "That means the services we deliver won't look the way they did in the past," she said. It was not clear whether that meant an even larger infusion of spending, or potentially controversial cuts designed to avoid a deeper deficit. The centrepiece of Holt's campaign commitment to improve primary care was a promise to open 30 collaborative care clinics by 2028, including 10 in the coming year. According to Liberal platform documents, that promise would cost only $3.8 million in 2025-26, an amount that would not include, for example, what doctors and nurse practitioners in those clinics would bill to Medicare. Holt said in her state of the province speech in January that the threat of U.S. tariffs by President Donald Trump was already slowing down the pace of hiring and investment in the province. The Liberal premier promised balanced budgets in every year of her mandate but has said the current year's projected deficit of $398.9 million doesn't count against that commitment because the budget had been set by the previous Progressive Conservative government. Some of the spending contributing to that deficit this year, however, is the result of Liberal choices, including an additional $60 million for nurse bonuses and $32 million in sales-tax rebates on N.B. Power bills. Holt's video said the province's dire fiscal situation was unforeseeable. "The financial conditions in front of us are more difficult than anyone could have anticipated," she said. "This is not the situation we expected, but it is the one in front of us, and we have hard decisions to make. But we will not waver in our commitment to help New Brunswickers today." The Opposition Progressive Conservatives say there were ample warnings that the rapid growth in population, tax revenue and federal transfers in the previous four years were unlikely to continue. "It's starting to slow down," Ernie Steeves, the PC finance minister at the time, warned last September, just before the election campaign began. The PCs also accused the Liberals of a major accounting error in the costing of their election platform, saying they double-counted $450 million in harmonized sales tax revenue when they said they'd be able to fund their promises. The Liberal campaign team responded that a PC promise to cut the HST appeared to be based on an expected major influx of tax revenue — a "surplus surprise" the Liberals said would also cover their commitments. That hasn't materialized. "They're either going to break their promises, or they're going to break the province keeping their promises, and that's for them to decide," PC Leader Glen Savoie said. "They're going to have to be the ones to face New Brunswickers and say, 'We couldn't keep our promises because we over-promised,' or they're going to have to say to New Brunswickers, 'You're going to have to pay more to get less because we kept our promises."
