Latest news with #TEN
Yahoo
5 days ago
- Entertainment
- Yahoo
Carnival sound system banned due to safety fears
A Notting Hill Carnival sound system will not be allowed to operate this year due to "public nuisance and safety concerns" after the applicant failed to turn up to a council licensing committee hearing. Kensington and Chelsea Council issued the Starliner Diamond Sound System and Bar Site with a counter-notice, effectively rejecting its application for a Temporary Event Notice (TEN). The decision was made after the applicant, Noel Gardner, did not attend a licensing meeting on 27 May or provide a risk assessment or event management plan. The system usually plays to festival-goers at the junction of Appleford Road and Bosworth Road. The committee agreed that in the absence of Mr Gardner and the required paperwork, it would refuse the application on the grounds of preventing public nuisance and ensuring public safety. The council's legal officer said a risk assessment and event management plan were essential for the committee to make an informed decision on the TEN. She also said Notting Hill Carnival Ltd was expected to sign off on all TENs for sound systems and associated bars, a new requirement being implemented this year. Met police fear 'mass casualty event' at carnival Carnival sound system banned after bottle attack Notting Hill Carnival is poorly run - Met chief It is the second sound system to be banned ahead of 2025's carnival. Volcano's licence was revoked after a man had a bottle smashed over his head last year. Notting Hill Carnival is Europe's biggest street festival, and is second only to Rio de Janiero's worldwide, attracting well over a million visitors. The event takes place annually in the north of the borough each August Bank Holiday weekend. According to Time Out, Starliner Diamond Sound System has been supplying drum-shaking reggae, soca, afro-beats and funky soul for more than 40 years. Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram. Send your story ideas to Notting Hill Carnival Kensington and Chelsea council
Yahoo
6 days ago
- Business
- Yahoo
The Government of Ghana, Tullow Oil, Kosmos Energy, PetroSA, GNPC and Explorco Sign Memorandum of Understanding to Extend Ghana Production Licenses to 2040
DALLAS, June 04, 2025--(BUSINESS WIRE)--The Government of Ghana, Tullow Oil plc (Tullow), Kosmos Energy (NYSE/LSE: KOS), PetroSA, Ghana National Petroleum Company (GNPC) and Explorco are pleased to announce that they have entered into a Memorandum of Understanding (MOU) to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licenses to 2040, which cover the Jubilee and TEN fields in Ghana. The MOU includes approval to drill up to 20 additional wells in the Jubilee field, representing investment of up to $2 billion in Ghana over the life of the licenses. As a result of the extension, the JV partnership expects to realize a material increase in gross 2P reserves. A number of principles are covered within the MOU that will help underpin the continued development of the Jubilee and TEN fields, including: A commitment to work to increase the supply of gas from the Jubilee and TEN fields to approximately 130 mmscf/day A reduced gas price for Jubilee associated gas A guaranteed reimbursement mechanism for gas sales Investment in GNPC and the Petroleum Commission's capacity with a focus on the use of advanced technology All terms and conditions of the existing WCTP and DWT Petroleum Agreements remain in place and continue unchanged. The next steps, following this MOU, are the submission for approval of a Jubilee Plan of Development (PoD) Addendum, entering into new fully termed gas sales agreements (GSA), and the submission for parliamentary approval of the payment security mechanism and license extensions planned before the end of the third quarter of 2025. The Honorable John Abdulai Jinapor, Ghana's Minister for Energy and Green Transition, said: "This Memorandum of Understanding between the Republic of Ghana and the DWT and WCTP partners marks a significant step forward in our nation's energy sector. Extending the licenses to 2040 demonstrates our commitment to fostering a stable and attractive investment climate. This MOU will not only ensure the continued production of oil, supporting our economic growth, but also allow us to further develop our infrastructure and create more job opportunities for our citizens. We are dedicated to responsible resource management and look forward to a prosperous future fuelled by sustainable energy practices." Richard Miller, Chief Financial Officer and Interim Chief Executive Officer of Tullow, commented: "This is a valuable step forward for the Government of Ghana, Tullow and our JV partners, highlighting the collaborative and constructive relationship we all have in reaching our shared goal of building a better future for the people of Ghana, through responsible oil and gas development. This extension and the fiscal stability of our contracts emphasizes the opportunity Ghana represents to deliver additional value through production and reserves additions, providing greater long-term optionality and materiality to these core assets." Andrew G. Inglis, Chairman and Chief Executive Officer of Kosmos, commented: "This memorandum of understanding recognizes the importance of oil and gas in Ghana and the desire of the new administration to create an attractive environment for new investment in the sector. Extending the Ghana production licenses is highly accretive, adding material reserves and enabling the partnership to continue investing in the country for the long-term. This investment is expected to maximize the value of the fields for the benefit of the country's economic development and Kosmos' shareholders. We look forward to working with President Mahama and his government to invest in and advance Ghana's energy sector." About Kosmos Energy Kosmos Energy is a leading deepwater exploration and production company focused on meeting the world's growing demand for energy. We have diversified oil and gas production from assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America (formerly the U.S. Gulf of Mexico). Additionally, in the proven basins where we operate we are advancing high-quality development opportunities, which have come from our exploration success. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company's Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos Sustainability Report. For additional information, visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos' estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words "anticipate," "believe," "intend," "expect," "plan," "will" or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos' Securities and Exchange Commission ("SEC") filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Management does not provide a reconciliation for forward looking non GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of our control or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward looking non GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. View source version on Contacts Investor Relations Jamie Buckland+44 (0) 203 954 2831jbuckland@ Media Relations Thomas Golembeski+1-214-445-9674tgolembeski@ Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
The Government of Ghana, Tullow Oil, Kosmos Energy, PetroSA, GNPC and Explorco Sign Memorandum of Understanding to Extend Ghana Production Licenses to 2040
DALLAS, June 04, 2025--(BUSINESS WIRE)--The Government of Ghana, Tullow Oil plc (Tullow), Kosmos Energy (NYSE/LSE: KOS), PetroSA, Ghana National Petroleum Company (GNPC) and Explorco are pleased to announce that they have entered into a Memorandum of Understanding (MOU) to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licenses to 2040, which cover the Jubilee and TEN fields in Ghana. The MOU includes approval to drill up to 20 additional wells in the Jubilee field, representing investment of up to $2 billion in Ghana over the life of the licenses. As a result of the extension, the JV partnership expects to realize a material increase in gross 2P reserves. A number of principles are covered within the MOU that will help underpin the continued development of the Jubilee and TEN fields, including: A commitment to work to increase the supply of gas from the Jubilee and TEN fields to approximately 130 mmscf/day A reduced gas price for Jubilee associated gas A guaranteed reimbursement mechanism for gas sales Investment in GNPC and the Petroleum Commission's capacity with a focus on the use of advanced technology All terms and conditions of the existing WCTP and DWT Petroleum Agreements remain in place and continue unchanged. The next steps, following this MOU, are the submission for approval of a Jubilee Plan of Development (PoD) Addendum, entering into new fully termed gas sales agreements (GSA), and the submission for parliamentary approval of the payment security mechanism and license extensions planned before the end of the third quarter of 2025. The Honorable John Abdulai Jinapor, Ghana's Minister for Energy and Green Transition, said: "This Memorandum of Understanding between the Republic of Ghana and the DWT and WCTP partners marks a significant step forward in our nation's energy sector. Extending the licenses to 2040 demonstrates our commitment to fostering a stable and attractive investment climate. This MOU will not only ensure the continued production of oil, supporting our economic growth, but also allow us to further develop our infrastructure and create more job opportunities for our citizens. We are dedicated to responsible resource management and look forward to a prosperous future fuelled by sustainable energy practices." Richard Miller, Chief Financial Officer and Interim Chief Executive Officer of Tullow, commented: "This is a valuable step forward for the Government of Ghana, Tullow and our JV partners, highlighting the collaborative and constructive relationship we all have in reaching our shared goal of building a better future for the people of Ghana, through responsible oil and gas development. This extension and the fiscal stability of our contracts emphasizes the opportunity Ghana represents to deliver additional value through production and reserves additions, providing greater long-term optionality and materiality to these core assets." Andrew G. Inglis, Chairman and Chief Executive Officer of Kosmos, commented: "This memorandum of understanding recognizes the importance of oil and gas in Ghana and the desire of the new administration to create an attractive environment for new investment in the sector. Extending the Ghana production licenses is highly accretive, adding material reserves and enabling the partnership to continue investing in the country for the long-term. This investment is expected to maximize the value of the fields for the benefit of the country's economic development and Kosmos' shareholders. We look forward to working with President Mahama and his government to invest in and advance Ghana's energy sector." About Kosmos Energy Kosmos Energy is a leading deepwater exploration and production company focused on meeting the world's growing demand for energy. We have diversified oil and gas production from assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America (formerly the U.S. Gulf of Mexico). Additionally, in the proven basins where we operate we are advancing high-quality development opportunities, which have come from our exploration success. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company's Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos Sustainability Report. For additional information, visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos' estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words "anticipate," "believe," "intend," "expect," "plan," "will" or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos' Securities and Exchange Commission ("SEC") filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Management does not provide a reconciliation for forward looking non GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of our control or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward looking non GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. View source version on Contacts Investor Relations Jamie Buckland+44 (0) 203 954 2831jbuckland@ Media Relations Thomas Golembeski+1-214-445-9674tgolembeski@ Sign in to access your portfolio
Scottish Sun
28-05-2025
- Health
- Scottish Sun
Woman, 24, watched a third of her skin ‘peel and detach' from her body just four days after taking routine NHS drug
Survivors of the condition have described the experience as feeling like they were being 'burned from the inside out' or 'cooked alive,' due to the intense pain and widespread skin loss it triggers SKIN HORROR Woman, 24, watched a third of her skin 'peel and detach' from her body just four days after taking routine NHS drug A YOUNG woman saw nearly a third of her skin peel away in sheets just days after starting a new medication. The 24-year-old had been prescribed lamotrigine, a drug commonly used on the NHS to treat mood disorders and epilepsy. Advertisement 3 The unnamed woman developed Lyell's syndrome, also known as toxic epidermal necrolysis Credit: Cureus 3 It caused the 25-year-old's skin to peel off in sheets Credit: Cureus 3 The skin condition carries with it a mortality rate between 20 and 40 per cent Credit: Cureus But just days after starting the medication to treat her bipolar, she noticed a red rash spreading rapidly across her body. By day four she decided to head to the hospital after the marks started blistering and large areas of skin started falling off. Doctors treating her at Cheikh Khalifa International University Hospital in Morocco quickly diagnosed her with Lyell's syndrome, also known as toxic epidermal necrolysis (TEN). This is a rare but life-threatening reaction to a medication - which in this case was lamotrigine. But it has also been associated with antibiotics, and anti-inflammatory painkillers like ibuprofen. Advertisement It happens when the body overreacts to a drug causing the outer layer of skin, known as the epidermis, to detach and peel away in sheets, exposing the raw, sensitive tissue beneath. In previous reports survivors of the condition have described the experience as feeling like they were being 'burned from the inside out' or 'cooked alive, due to the intense pain and widespread skin loss it triggers. In worst-case scenarios, it can leave those affected vulnerable to life-threatening complications like sepsis and organ failure - it carries a mortality rate between 20 and 40 per cent. In this case, published as part of a report in the journal Cureus, almost 30 per cent of her body surface area had been affected including her chest, back, arms, and thighs. Advertisement Large sections of skin had already sloughed off by the time she arrived at hospital, leaving painful, exposed areas that had to be treated like serious burns. Doctors also noted that her mucous membranes were involved, meaning the reaction had affected not just her skin but also the inside of her mouth and genitals, a common but dangerous feature of TEN. Charlotte's agony: Surviving Stevens-Johnson Syndrome Once admitted, the unidentified woman was transferred to a specialist burns unit, as TEN causes skin damage similar to that seen in people with major burn injuries. "TEN is often described as a severe burn-like skin reaction because it causes widespread epidermal necrosis and detachment similar to that seen in patients with extensive burns," the authors of the report wrote. Advertisement After intensive treatment in the burns unit including wound care, pain relief, and fluid replacement she began to recover. Doctors immediately stopped the lamotrigine to prevent further skin damage and prescribed another medication to manage her bipolar disorder safely. The authors stressed that while TEN is a rare reaction, patients starting drugs like lamotrigine should be monitored closely for early symptoms such as fever, rash, and blistering. "The early recognition and discontinuation of the offending drug is crucial in improving patient outcomes," they concluded. Advertisement
Irish Times
10-05-2025
- Business
- Irish Times
Irish-founded Tullow Oil faces $1.4bn refinancing headache amid falling crude prices
It didn't take Tullow Oil investors long to get over news in December that the Irish-founded company had been jilted by a second would-be partner in a little over two years. While the stock slumped almost 20 per cent over five days of trading before markets took a break for Christmas, it would rally strongly into the early days of the new year. A tie-up with US oil and gas group Kosmos Energy would have undone efforts by Tullow in recent years to lower its borrowings. Kosmos's debt burden, relative to earnings, was twice that of Tullow's. A deal would have resulted in a group with more than $4 billion (€3.55 billion) of net borrowings. Fuel was added to the stock when it emerged in the early days of January that an international arbitration organisation had ruled the company did not owe $320 million of certain taxes that had been charged by the government of Ghana, home of the company's prized Jubilee and TEN oil and gasfields. READ MORE It didn't last long. The shares have slumped almost 45 per cent since then and are currently changing hands at levels last seen five years ago. Lower-than-expected production and cash flow forecasts issued by the group in late January were followed two months later by the release of profits that came in at a fifth of analysts' expectations, driven by the explorer writing off more than $200 million of exploration costs. Donald Trump has also played his part, with his chaotic approach to tariffs last month igniting fears of a global recession – and leading to a slump in oil prices. [ Tullow Oil profit misses estimates amid €197m in asset charges Opens in new window ] The sell-off in oil – which remains the dominant source of energy globally, whether we like it or not – was exacerbated last weekend when Opec+ nations, consisting of members of the Organization for the Petroleum Exporting Countries and other oil producers, decided to ramp up output to defend the cartel's market share even as demand wanes. Brent crude has plunged 15 per cent since Trump's 'Liberation Day' speech and is currently hovering below $64 a barrel. While this is up from lows earlier in the week, it's four years since oil was trading at these prices. The big problem for Tullow is that it has $1.4 billion of bonds falling due in exactly 12 months' time. The increased risk the group faces in refinancing these loans – and replacing, more pressingly, a $250 million debt facility that expires next month – prompted S&P Global to cut its rating on Tullow by one notch last month to CCC+, which is seven rungs deep into junk status. S&P reckons brent crude will average $65 a barrel this year, resulting in Tullow generating 'minimal free operating cash flow'. Not what the company needs when it faces a massive debt maturity. Analysts elsewhere have been more active with their red pens this week, with the likes of Goldman Sachs now talking about it averaging $60 this year before falling to $56 in 2026. The past 10 years have been a lost decade for Tullow, a company set up in the mid-1980s by former Aer Lingus accountant Aidan Heavey with money raised from family and friends to rework some old gasfields in Senegal on the west coast of Africa. In late 2000, Tullow bought producing gasfields in the North Sea from BP, before doubling in size four years later with the takeover of Energy Africa, giving it assets in countries from Ghana to Namibia along the west coast of Africa. Tullow's takeover in 2007 of Australia's Hardman Resources boosted its position in Uganda, a landlocked country in east Africa, and helped propel the group into the FTSE 100. Spare a thought for group chief financial officer Richard Miller, who's also been double jobbing as interim CEO for the past three months All was going well until the price of crude oil, which peaked at $115 a barrel in 2014, began to fall – sending Tullow's share price tumbling. The company, which crashed out of the FTSE 100 in 2015, saw its net debt peak at $4.8 billion at the end of 2016. Heavey exited the company two years later. The stock would spiral downwards in the years that followed, amid a series of drilling and production disappointments, executive exits, massive asset writedowns and warnings about potential cash shortfalls. It closed its Dublin office in 2020 and quit the Irish stock market in 2022, although it retains a following among retail investors here. Asset sales and cost-cutting – together with higher oil prices – had helped Tullow pull off a $1.8 billion debt refinancing in 2021 and chip away at its debt mountain. It has upped the ante this year, agreeing in March to sell its assets in Gabon in west Africa for $300 million, and, more recently, striking an accord last month to offload its exploration assets in Kenya, where Tullow had long struggled to secure project approvals from the local government and a strategic partner, for $120 million. The deals are expected to result in upfront cash payments this year of $340 million, which will help meet some of the debt maturities – but mark the end of Tullow's pan-African ambitions as it focuses on its producing fields off the Ghana coast. Investor concerns about the May 2026 bonds are best captured by the market performance of the notes themselves. Having been trading at about 95 cents on the dollar in January, they have since fallen to close to 75c. Spare a thought for group chief financial officer Richard Miller, who's also been double jobbing as interim CEO for the past three months.
