Bali governor closes beaches a day after reopening for foreign surfers

first_imgBali Governor I Wayan Koster has said he would revoke Badung Tourism Agency’s decision to reopen two beaches in Badung regency for foreign surfers.”I’ll inform the head of [Badung] tourism agency that we haven’t reopened our tourism yet. I disagree [with the reopening] and the decision should be annulled,” Koster said on Tuesday as reported by kompas.com.Koster said he had issued a circular that regulates the closure of tourist destinations in Bali until further notice and he had not yet revoked it.”We had instructed to close tourist attractions through a circular and we have not reopened them yet,” he said.On Monday, Badung Tourism Agency opened access to two beaches in Badung regency, Canggu Beach and Labuan Sait beach, for foreign surfers.Read also: Hotels in Bali brace for travel-restriction relaxation, ‘new normal’The agency head, I Made Badra, said the beaches were still off limits to domestic tourists and non-surfers.”The foreign surfers are stressed-out after staying indoors for three months, so we gave them a little leniency as long as they follow health protocols,” Badra said. “[Before entering the beaches], they had to be examined in Balawista posts and by the [COVID-19] task force of the two villages where the beaches are located.”He also said that all foreign surfers were required to wear face masks.”We’ll check the temperature of each visitor, those who have a high temperature will be taken to the nearest community health center [Puskesmas] immediately,” Badra said.As of Monday, Bali recorded 482 cases of COVID-19 with five fatalities and 334 recoveries. (nal)Topics :last_img read more

Pertamina to drill up to 180,000 bpd from Rokan oil block after takeover

first_img“At this time, we are collaborating closely with SKK Migas to prepare the technical implementation,” a CPI spokeswoman told The Jakarta Post on Thursday.“We are grateful for the government’s direction and initiative to provide solutions to invest to optimize national oil production,” she added.SKK Migas had previously ordered Chevron to drill 11 new oil wells in November this year. The new wells are expected to boost block output by 3,000 bopd, prior to the takeover.Despite being one of the country’s most celebrated blocks,  Rokan block’s output has steadily declined over the past few years due to the natural exhaustion of reserves.The government expects nationalizing the block to maintain production levels, which saw a landmark decline of 9.2 percent year-on-year to 190,131 bopd in 2019. Prior to 2019, the oil block was the country’s most productive.Topics : He went on to say that PHE, a subsidiary of state-owned oil giant Pertamina, would continually drill new wells in the aging Rokan block in pushing production up to 200,000 bopd. He did not mention a timeline.The block yielded 190,131 bopd last year under the helm of PT Chevron Pacific Indonesia (CPI), a subsidiary of one of the world’s biggest oil companies, Chevron.Pertamina will be taking over the 50-year-old block, which is the country’s second-most productive oil block, from CPI next year, when the latter company’s permit is slated to expire.Pertamina, Chevron and the Indonesian government, through the Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas), have formed a steering committee to ensure Rokan’s smooth takeover, defined as one without a sharp drop in output. Pertamina Hulu Energi (PHE) aims to produce between 170,000 and 180,000 barrels of oil per day (bopd) from the celebrated Rokan block in Riau once it takes the block over next year.PHE president director Budiman Pahursip said on Wednesday the company aimed to maintain such output levels by drilling new oil wells starting “the first day” of the takeover, which is on Aug. 8, 2021.“This is important during a takeover to ensure production does not drop sharply,” he said during a webinar hosted by extractive industry watchdog Publish What You Pay (PWYP) Indonesia.last_img read more

KAS looks to ‘export’ Dutch transparency standards to Germany

first_imgVogel acknowledged that the bank, after holding talks with the industry, could conclude that this would make sense only for certain Durchführungswege – including Pensionskassen and Pensionsfonds – but this, he said, “remains to be seen”.He stressed that KAS Bank would take “small steps” on the question of transparency in Germany, as the industry was “not nearly as experienced” in collecting these data sets as its Dutch counterpart.Vogel said that, eventually, more in-depth data such as, for example, target fund costs in fund-of-hedge-fund structures, could be used in a portfolio optimisation analysis.“The pension industry knows it has to increase cost transparency,” he said.“The question is how.” The financial assessment framework (FTK) for second-pillar pensions in the Netherlands could be successfully “exported” to Germany with a few “adaptations”, according to KAS Bank.Frank Vogel, managing director of KAS Bank Germany, told IPE the banking group’s Germany subsidiary was now considering to “bring Dutch expertise” to the country.One of the models he wants to apply is the FTK’s cost-transparency regulation, which includes “a simple catalogue on how to collect data on costs”.“We are now in talks with German pension funds and associations trying to gauge which data can be reported, which makes sense and what is possible for which form of pension fund,” he said.last_img read more

PRI consults on challenges to ESG, active ownership in passive investing

first_imgThe Principles for Responsible Investment (PRI) has launched a consultation to try to identify ways of overcoming challenges to incorporating environmental, social and governance (ESG) factors and active ownership into passive investing.The organisation hopes to obtain feedback from asset owners, investment managers, and index providers.According to Toby Belsom, director of investment practices at the PRI, the growth of ESG in passive investing was facing two challenges. One category of challenges had to do with technical issues surrounding ESG data quality and index construction, while the other was about how investors could ensure they remained active owners while following a passive strategy.For example, passive asset managers may not be incentivised to recall any shares on loan to vote at annual general meetings because of the bigger difference stock lending makes in terms of income for passive funds compared with active funds. The organisation intends to collect feedback via a short survey and events. The survey is not restricted to PRI signatories; questions are also being asked on the organisation’s “collaboration forum”, which is only for signatories. The consultation process will run until the end of October.The survey asks respondents to rank challenges, in order of significance, to ESG incorporation as well as active ownership. The challenges named include consistency of corporate data, complexity of benchmarks and indices, and unintended portfolio skews. For the active ownership question, challenges named include lack of research and resourcing, “free-riding”, and divestment.The survey also asks what impact the EU’s taxonomy of environmentally sustainable activities will have on the passive investment market. In a discussion paper, the PRI itself said the full implications of the taxonomy would not become clear for some time, but it was likely to influence the construction of ESG indices and passive funds. The PRI has already published research and case studies focusing on the integration of ESG into passive, quantitative and smart-beta strategies, but said it was launching the consultation because it was interested in “developing market thinking in this area due to its rapid development over the last couple of years and the increasing importance of passive strategies”.Signatories had registered significant interest on the topic, according to the PRI.last_img read more

Netherlands roundup: ICT scheme to continue pensions accrual with PNO Media

first_imgThe €475m Dutch pension fund for the digital sector (TrueBlue) is to place its pensions accrual with PNO Media, the much larger scheme for the creative industry.It said the €6.7bn PNO Media scheme would take over both TrueBlue’s defined benefit and defined contribution arrangements as of 1 April 2020.TrueBlue added that at PNO Media, the identity of the ICT sector would be guaranteed, and that PNO would be able to implement both pension arrangements almost unchanged and against lower costs.Rob de Ridder, TrueBlue’s chair, said his scheme had been facing increasing costs, in part because of insufficient growth on the number of participants. “PNO Media offered certainty and continuity,” he said.Nelly Altenburg, chair of PNO Media, noted that part of TrueBlue’s participants could benefit from PNO’s new proposition of DC life cycle arrangements, a hybrid pension plan.The ICT scheme adds 2,700 workers, 5,100 deferred participants as well as 600 pensioners affiliated with 99 employers.Currently, PNO Media has 17,000 active participants, 31,000 deferred members and 10,000 pensioners affiliated with 400 companies.The coverage ratio of both schemes stood at 97.1% and 98.9%, respectively, at the end of October.NN IP enters partnership with Venn on residential mortgagesThe €287bn Dutch institutional investor Nationale Nederlanden Investment Partners has taken a majority stake in mortgage investor Venn Hypotheken.It said the acquisition would broaden its proposition for institutional players that want to invest in Dutch residential mortages.The majority stake in the UK and Spain-based company enabled NN IP to come up with mortgage products for clients that prefer an investment mandate rather to an investment fund, it argued.Since 2015, NN IP offered investments in its Dutch Residental Mortgage Fund, which has attracted €2.7bn of institutional assets so far.Venn Hypotheken has been established by property financier Venn, who has invested €1bn in residential mortgages issued by Venn Hypotheken.NN IP said Venn Hypotheken would keep on issuing loans to Venn’s Cartesian securitisation programme.last_img read more

ConocoPhillips wraps $350M Greater Sunrise Fields stake sale

first_imgWorth noting, apart from the maritime border disputes between Timor-Leste and Australia, the companies and the Timor-Leste gov’t have differed in the view on how to develop the field. While the companies involved in the Woodside-operated project prefer the offshore facility development, Timor-Leste has been leaning towards an onshore LNG facility development in the country.Following the sell-off by Conoco and Shell, the onshore facility in Timor-Leste is the most likely way forward.Energy Intelligence firm Wood Mackenzie in October 2018 said the development via an onshore LNG plant in Timor-Leste would require the construction of a new liquefaction plant and associated infrastructure; an FPSO to process and handle the condensate, and construction of a pipeline connecting the FPSO to shore. Related: Timor-Leste, Australia settle border dispute, opening path for development of Sunrise gas fields“Timor-Leste authorities are determined to harness the economic benefits of an onshore development. The Timor-Leste government is also pursuing the development of Sunrise to replace declining revenues from the mature Bayu Undan field,” Wood Mackenzie’s analyst David Low said in October.“We believe the key onshore project risk is the construction of a greenfield LNG project in a country that has historically lacked large-scale infrastructure projects. The next step is for the project to put forward a viable development plan that all the project participants would be willing and happy to commit too,” Low added.Woodside: Sunrise is a keeper, but offshore option preferredIn its recent annual report, Woodside, the operator of the project with a 33.44 percent stake, said that while the new PSC arrangements are being negotiated, the Sunrise Joint Venture will meet its obligations under existing PSCs (JPDA 03-19 and JPDA 03-20) and Retention Leases (NT/ RL2 and NT/RL4), continue ongoing social investment activities in Timor-Leste and maintain an office in Dili. According to the report, production from the Sunrise project is not expected before 2027.Asked in February if Woodside had been approached to sell its stake too, at what are believed to be good prices received by Shell and Conoco, Woodside CEO Peter Coleman said: “We’ve been very clear that we’re not a seller in Sunrise. And if you look at it, yes, the pricing on an equity basis looks fine… Our view is […] that Sunrise is a keeper for us.”He also said that Woodside was happy to invest in the offshore development, “but we’re certainly not comfortable in putting any significant capital into an onshore development at this point.”“But we’ve also offered that, if Shell and ConocoPhillips do exit, then we would be the technical operator for the onshore part of it.” Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options. By Bartolomej TomićThe Greater Sunrise fields, comprised of the Sunrise and Troubadour gas and condensate fields, are located some 150 kilometers south-east of Timor-Leste and 450 kilometers north-west of Darwin, Northern Territory. Woodside is the operator of the project.The offshore gas fields were discovered in 1974 and hold gross (100%) contingent resources (2C) of 5.13 Tcf of gas and 225.9 million barrels of condensate. The development has been hampered by a dispute on the maritime border between Timor-Leste and Australia. On March 6, 2018, Timor-Leste and Australia signed their new Maritime Boundaries Treaty opening path for development of the Sunrise gas fields.Negotiations between the two Governments and the Sunrise Joint Venture on the new Greater Sunrise PSC started in November 2018.ConocoPhillips has sold a 30 percent share to the Timor-Leste government for $350 million and is no longer involved in the project.“We are pleased to complete this transaction with the government of Timor-Leste,” said Matt Fox, executive vice president, and chief operating officer. “ConocoPhillips recognizes the importance of the Greater Sunrise Fields to the nation of Timor-Leste, and this sale gives them a significant working interest in this important development.”To remind, ConocoPhillips first announced the agreement to sell off its Greater Sunrise interest in October 2018. Come November, Shell also announced it would exit the long-stalled project by selling its 26.6 percent interest to the Timor-Leste government for $300 million.Onshore development optioncenter_img U.S. oil and gas firm ConocoPhillips has wrapped up the previously announced sale of its interest in the Greater Sunrise Fields in the Timor Sea.last_img read more

Paris draws new climate rally

first_imgA protester holds a French flag as he takes part in a demonstration on Act 25 (the 45th consecutive national protest on Saturday) of the yellow vests movement in Paris, France , Sept. 21, 2019. REUTERS Demonstrators carried signs with sloganssuch as “End oil now” and “End of the world” and displayed an effigy ofPresident Emmanuel Macron wearing a crown marked “King of bla-bla.” (Reuters) The climate protest drew some 16,000participants, according to the police, a day after several thousand youngpeople had turned out in Paris, as in other cities worldwide, to demandgovernment action over climate change.center_img PARIS – Climate protesters marchedthrough Paris for a second day on Saturday in a rally that saw sporadic clashesbetween masked demonstrators and police who also broke up “yellow vest” groupstrying to stage unauthorized gatherings in the capital.last_img read more

Bulldogs Baseball Teams Grounds Eagles

first_imgBatesville’s offense was working on Saturday, as the Bulldogs beat Jac-Cen-Del 19-7.The Bulldogs got things moving in the first inning. Quinn Werner drove in two when he doubled, but scored four in the inning.Batesville tallied five runs in the seventh inning. Calvin Sherwood, Lane Oesterling, Kyle Siefert, and Jayden Beal all contributed in the big inning with RBIs.Jac-Cen-Del scored three runs in the fourth inning. Conner Toops and Colton Comer each had RBIs in the big inning.Freshman, Trey Peters got the win for the Bulldogs. He surrendered four runs on seven hits over four innings, striking out seven and walking zero. Shane Meer and Trey Heidlage entered the game out of the bullpen and helped to close out the game in relief.James Buford took the loss for Jac-Cen-Del. He allowed eight hits and 11 runs over four and two-thirds innings, striking out five.Batesville tallied 16 hits in the game. Werner, Sam Wade, Siefert, Sherwood, Beal, and Heidlage all racked up multiple hits for the Bulldogs. Werner went 3-for-4 at the plate to lead the Bulldogs in hits. Batesville didn’t commit a single error in the field. Caleb Raab had 11 chances in the field, the most on the team. Sherwood led Batesville with four stolen bases, as they ran wild on the base paths with 15 stolen bases.With the win, Batesville takes their record to 13-10 on the year and 5-7 in the EIAC. The Bulldogs will compete in conference action on Monday against South Dearborn.Courtesy of Bulldogs Coach Justin Tucker.The Batesville Bulldogs JV Baseball team improved their record to 11-3 on the season beating the Jac Cen Del Eagles 17-1.Casey Werner pitched well for the Bulldogs, in 4 innings he didn’t surrender a hit and struck out 8 batters. He also led the second inning off with a solo home run to right field.The Bulldogs aim to finish their season out strong with their last conference series on Monday night at the BHS field at 5:30 p.m. and at South Dearborn on Thursday at 5:30 p.m.Courtesy of Bulldogs Coach Jason Meyer.last_img read more

Top-Ranked Argonauts Seek Revenge Against #6 Fighting Knights

first_imgTop-Ranked Argonauts Seek Revenge Against #6 Fighting Knights Share April 5, 2007PENSACOLA, Fla. – West Florida’s dream of a national championship three-peat ended last season in the national semifinals. Lynn University knocked off West Florida last season and the Fighting Knights are poised to duplicate their success this year. On Friday, top-ranked West Florida (19-2) will host sixth-ranked Lynn (13-2) at 1 p.m. CST at the Ralph “Skeeter” Carson Tennis Complex.West Florida is on a six-match winning streak. During the streak, West Florida has defeated second-ranked Drury, eighth-ranked Ouachita Baptist and ninth-ranked St. Edward’s. West Florida’s match against fifth-ranked Florida Southern was rained out on Sunday.Fourth-ranked Diego Zorzi (Buenos Aires, Argentina) is 12-0 in singles. Dante Bottini (Buenos Aires, Argentina), the ninth-ranked singles player, has played all but one singles match in the first position. He has posted a 10-3 record. The Argonauts fourth-ranked doubles team of Bottini and Nicolas Barrientos (Cali, Colombia) are 16-3 in first position doubles matches. Zorzi and Luis Arboleda (Medellin, Colombia) are 18-1 while playing primarily in the second doubles position.Before facing the top-ranked team in Division II, Lynn will face NAIA number one Auburn Montgomery on Thursday. Lynn’s only two previous losses of the season were against Florida Southern and third-ranked Armstrong Atlantic. Going into action on Thursday, Lorenzo Cava was the top-ranked singles player in Division II. He was 13-1 with 10 consecutive singles wins. Sixth-ranked Julien Carsuzaa has posted a 12-2 record.A free cookout for those in attendance will be offered during the matchPrint Friendly Versionlast_img read more

Schurrle sets heart on Brazil berth

first_img Press Association The 22-year-old joined Chelsea from Bayer Leverkusen this summer, becoming Jose Mourinho’s first signing of his second spell, and is well aware of the Portuguese’s warning that players must feature regularly for their clubs to earn a place at next summer’s showpiece tournament in South America. Although the warning was interpreted as a ruse to sign Manchester United’s Wayne Rooney, it could equally apply to the Chelsea players bidding to impress Mourinho. Andre Schurrle hopes to feature often enough at Chelsea to earn a place in Germany’s squad for the 2014 World Cup in Brazil.center_img “For every player it’s important,” Schurrle said. “You have to do a good job for the World Cup. We have big goals for the German national team next year. It’s really important. “We have to see. We have so many matches, so many games to play, so every player is needed and is important for the team and so am I. “Everything is a big motivation now for me. The World Cup, of course, but here in the team to play, to improve myself.” Schurrle is competing for one of three forward berths behind a central striker where competition is intense. Eden Hazard, Kevin de Bruyne, Victor Moses, Juan Mata and Oscar – the latter duo are both absent from the club’s Asia tour following the Confederations Cup – are all in contention for the roles. There is also the potential for Rooney to fill one of the positions, if he signs, although Mourinho would favour the England man as a striker. Schurrle is unfazed. “In every big club there will always be good competition,” he said. “That’s what I wanted. I wanted this move, I wanted this step. I have to train hard, I have to work hard and then we will see. “I want to improve myself, I want to improve all the time and what I really want is to help the team, with my qualities, to be successful.” last_img read more