Scientists Come Closer to Solving Caribbean Seaweed Mystery
, Lapointe told Reuters, in a sequence he calls “a double whammy.”Experts note that peak Amazon River flooding pushes a plume of nutrients hundreds of kilometers out to sea in March and April, coinciding with major sargassum blooms. From there, currents push the seaweed around the coast of Venezuela into the Caribbean Sea and sometimes even farther north into the Gulf of Mexico.Climate change is also fueling stronger hurricanes, which at sea are pulling more nutrients up from the seabed to potentially fertilize sargassum.African dust and ashScientists have also theorized that dust from the
Vontobel and Candriam back Belize's barrier reef 'superbond' buyback
of Belize's GDP.The debt plan is by no means a done deal, however.M&G Investments, which holds 3.5% of the bond according to the EMAXX data, declined to comment while Austria's Kepler Fonds, which owns around 2%, said it was undecided for now.Roughly 10% is also effectively held by Venezuela which may not be able to put in its vote as it is under U.S. sanctions and the money would need to go through the U.S. financial system.Under the proposed deal, eligible holders who tender their bonds will receive 55 cents for every $1 in outstanding principal.The 45% "haircut", as bankers
U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices
to come on board with OPEC's continued efforts to bolster prices, and the country's largest oil producer, Rosneft, has been an opponent of the deal with OPEC to cut supply. Units of Rosneft, and its managers, were recently sanctioned by the United States due to its trade relationship with Venezuela.Trump administration officials will continue to reduce global oil output with sanctions on what the officials called bad actors in Iran and Venezuela, both of which are OPEC members, and their shipping networks, the officials said. To the extent that Russia is involved in marketing Venezuelan oil
Brazilian Beaches Hit by Second Oil Spill
, an ocean researcher at the Federal University of Ceará, told news website G1 that a large quantity of the same oil that appeared on beaches earlier this year still lay in the seabed and was moving to shore because of ocean currents.Brazilian government officials have said that tests indicated Venezuela as the probable origin of the oil. The country dismissed that assertion.(Reporting by Marcelo Teixeira; Editing by Peter Cooney
Schlumberger Revenue Misses Estimates
about 43 percent to $3.14 billion."Despite OPEC's recent decision to increase production, the global supply base continues to weaken," Chief Executive Officer Paal Kibsgaard said, pointing to uncertainty for producers and service providers due to sanctions on Iran, falling production from Venezuela and outages in Libya.The world's largest oilfield services company posted net income attributable of $430 million, or 31 cents per share, in the second quarter ended June 30, compared with a loss of $74 million, or 5 cents per share, a year earlier.Total revenue rose 11.3 percent to $8.30 billion
Schlumberger CFO Ayat to Retire Soon
a solid second half of 2018, James West, a senior managing director for Evercore ISI, wrote in a note on Monday.Biguet previously held positions as Schlumberger's treasurer and as controller of operations, according to its financial filings. He has worked at Schlumberger since 1995 with roles in Venezuela, Canada and France before taking on his current position in December, 2017, according to his LinkedIn profile.Biguet "is very skilled in managing the organization," said one person familiar with proposed changes. "Now, he needs to manage the Street."Ayat started at Schlumberger
JFSE Launches 'Excavation Plus' Package
and Gulf of Mexico and is planning to roll out the ‘Excavation Plus’ service worldwide. Clients will be able to tailor the package to suit their particular project requirements – providing a flexible approach. With bases in UK, USA, Africa, Singapore, Mexico, UAE, China and Venezuela, JFSE a CFE provider with more than 28 strategically based equipment spreads and a team responsible for the successful completion of more than 490 projects over the past 20 years
Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
solution, a way to speed it up," Marcio Felix, Brazil's oil and gas secretary, said on Monday. The Mexican regulator, the National Hydrocarbon Commission (CNH), opened all of Pemex's data to seismic firms, licensing them to reprocess and sell it. In countries including Brazil and Venezuela, state-run oil companies have kept most of their seismic data from rivals, giving them an advantage in areas where they are considered strong. "Pemex has had to give up a lot to make the reform work," said Luis Vierma, exploration and production consultant and former vice-president
Argentina Sticking with Submarine Program despite Disaster
the Jan Juan disaster is complete. Argentina spends about 1 percent of its gross domestic product on defense, less than its neighbors Chile, Brazil and Peru. Peru has six subs, Chile four and Brazil plans to increase its five-vessel fleet by four over the next few years. Ecuador and Venezuela each have two and Colombia has four. “Submarines are an excellent strategic weapon to use in inter-state conflicts. Thankfully, in our region we have optimal relations with our neighbors. But that can change,” Calle said. Subs are used to patrol sovereign maritime
February 2024
