Eni to take up $4 billion impairment hit due to lower oil price outlook

first_imgThe amountof the estimated impairment losses are expected to be recorded in Eni’sconsolidated results for the second-quarter 2020 due to be released on 30 July 2020. The company is assuming that the long-term price for Brent would stand at a long-term price $60 a barrel from 2023 onwards, down from a previous forecast of $70. Eni addedthat it was still working on its assessment of the impairments and that theestimate might vary by around 20 per cent, up or down. Of the pre-taximpairment charges estimated at $3.16 billion, the Italian firm expectswrite-downs of about $2.26 billion related to its upstream assets and around $900million in its refining operations. The estimate also includes devaluation oftax credits of around $790 million. Eni said onMonday that it was cutting its forecasts for oil and gas prices, both in theshort and long term. Eni confirmsemissions reduction strategy Eni added onMonday that the market developments linked to the spread of the COVID-19pandemic made the robustness of the company’s strategic path and its long-termchoices even more compelling. For theyears 2020-2022, Brent prices are expected respectively at $40, 48, and 55 per barrel,compared to the previous assumptions of $45, 55, and 70 per barrel Claudio Descalzi, Eni’s CEO, said: “We confirm our strategy to become a leader in the decarbonization process, notwithstanding the enduring impacts of the COVID-19 pandemic on the global economy and the company. center_img Namely, thedistinctive element of this strategy is the fixed 2050 absolute emissionsreduction target of 80 per cent covering all of the company’s products. According toBP, non-cash impairment charges and write-offs in the second quarter areestimated to be in an aggregate range of $13 billion to $17.5 billion post-tax. Italian oil major Eni is expecting to report impairments of around 3.5 billion euros (cca. $3.96 billion) as a result of a lower outlook for energy prices. This is wellabove the 70 per cent threshold indicated by the IEA in the SustainableDevelopment Scenario that tracks the reduction of emissions compatible with theParis Agreement. “Our changed long-term assumptions reached four months after the outbreak of the COVID-19 pandemic, reflect our current expectations about future prices and will be incorporated in our processes of capital allocation”. Eni is not the first major company to announce such an impairment hit. Namely, BP is also expecting massive reductions to asset values during the second quarter of 2020 as a result of the combined hit of the oil price plunge and the COVID-19 pandemic. “We are assessing how to speed up our plans. This ongoing evolution will allow the company to achieve a better-balanced portfolio, reducing the exposure to the volatility of hydrocarbon prices, while progressing towards our targets of sustainability and profitability.last_img read more

Mayor Of Roseau Calls On Residents and Members of The City Council To Play Their Part

first_imgLocalNews Mayor Of Roseau Calls On Residents and Members of The City Council To Play Their Part by: – May 6, 2011 Share Tweet Sharing is caring! Sharecenter_img 42 Views   no discussions Share The Mayor of Roseau HIS Worship Mr. Cecil Joseph has made a call to residents of the cityof Roseau to pay their rates in order to maintain and enhance the city. He made this call during DBS’s Talking Point talk show with host Alvin Knight.Click to listen to audio:  He also made mention of the members of the Roseau City Council who are laid back and relaxed and doing little or no work which cannot continue. He said that they should hear the cry and understand the problem of the city.Click here to listen to audio:The Mayor reminded the public that the city belongs to all of us and therefore we should all ensure that we play our part in its development and enhancement.News Reporter: Ms. Grace HendersonDominica Vibes Newslast_img read more

NegOcc rejects return of 88 stranded OFWs

first_imgThe Western Visayas Regional TaskForce on COVID-19 recently drew up protocols on returning OFWs. * OFWs shall submit their COVID-19real-time Polymerase Chain Reaction (PCR) test results from their country oforigin should it be available. BACOLOD City – Theprovincial government of Negros Occidental has refused to accept the return ofsome 88 Negrense seafarers stranded in Manila. * OFWs are required to undergo 14-dayquarantine and must be asymptomatic prior to departure from their immediatepoint of entry. In a letter dated April 25 addressedto Cabinet Secretary and IATF member Karlo Nograles, Leonardia said that he andNegros Occidental Governor Eugenio Jose Lacson were caught by surprise that aboatload of OFWs will supposedly be arriving today. Their health status – whether positiveor not for the coronavirus disease 2019 (COVID-19) – is a big concern, according to Dr. Jonathan Lobaton, chief of theProvincial Incident Management Team (PIMT). He added that due to the limitedaccommodation of the provincial quarantine facility, the provincial governmentwould be prioritizing non-overseas Filipino workers (OFWs). Authorities at the Ninoy Aquino International Airport Terminal 1 use thermal imaging cameras to detect travelers with signs of coronavirus. CNN PH In a letter dated April 26 addressedto Regional Disaster Risk and Reduction Management Council chief Jose RobertoNuñez, Lobaton signified the province’s refusal to accept the scheduledarrivals of the seafarers to the province this week. In Resolution No. 12, the task forcelisted the following conditions that returning OFWs must meet “to ensure thegeneral welfare of the repatriates and the safety of residents in Region 6”:center_img * OFWs shall undergo RT PCR test priorto departure from their immediate point of entry. Only those whose resultsare negative will be allowed to depart and accepted in Region 6. OnlyDepartment of Health-approved tests shall be accepted as valid results. “As much as we wanted our residentscome home, we also have to consider protecting the health and safety of ourpeople here,” he added. “For the time being, they may stay in quarantine untilwe can allocate and schedule their return after they were able to comply withrequirement.” “We thought the Overseas WorkersWelfare Administration wasthe proper agency to work with. Now, we do not know of the batch of BacolodOFWs that OWWA is ready to process is the same or differentfrom.those supposedly arriving on April 27 and thereafter,” the mayor said.  “We currently have 130 persons in ourquarantine facility area manned 24/7 by our personnel thus the arrival of 88seafarers will hamper our operation,” said Lobaton. According to Leonardia, they found outthat 44 of these OFWs were bound for different local government units in theprovince, and 58 for Bacolod City, as authorized by Secretary Carlito GalvezJr., chief implementer for COVID-19 national action plan. Leonardia said that this hasconsiderably messed up the city’s own coordination with the Overseas WorkersWelfare Administration on the scheduling of repatriation trips for BacolodOFWs. Meanwhile,Mayor Evelio Leonardia has written a letter to the Inter-AgencyTask Force (IATF) on the Emerging Infectious Diseases, requesting for closercoordination on the repatriation of the OFWs from various places in thePhilippines to the province of Negros Occidental and Bacolod City. Leonardia said Gov. Jose EugenioLacson was supposed to co-sign the letter with him as a joint statement, butthe governor is in San Carlos City and has asked him instead to cite theexperience of the province on the OFW repatriation issue./PNlast_img read more

Cardinals And Squires Battle It Out On The Links

first_imgThe St Louis golf team finished off its season Monday night against South Dearborn at Hoosier Links Golf Course. South Dearborn was able to over come the soggy conditions and shoot a team score of 231 to St Louis’ 243.Leading the scoring for St Louis was Brandan Simmermeyer with a 54, Evan Voglesang had a 61, Jacob Deutsch a 63, Aaron Weber a 65, Zeb Streator a 66, Thomas Raver a 65, and Adam Voglesang a 68.Courtesy of Cardinals Coach Randy Streator.last_img

Mikel one of five Premier League most annoying players — Referee

first_imgRelatedPosts Mane double eases Liverpool to win over 10-man Chelsea EPL: Chelsea, Liverpool in cagey duel Chelsea sink Brighton to make winning start Former Premier League referee Mark Clattenburg has revealed five of the most annoying players he has come across as an official.The former top-flight ref revealed the players who tested his patience the most in his column with the MailOnline. And two of those players are former stars of London clubs.Ex-Chelsea midfielder John Obi-Mikel made the list with some very serious reasoning from Clattenburg.“I have picked Mikel because of the incident during a Chelsea v Manchester United match in 2012 when he accused me of making a racist comment, which was not right and I was later cleared by the FA,” he wrote.“He has never apologised and that is disappointing because it could have ruined my life. I fell out of love with refereeing for a while after that but couldn’t quit because I had a family to support and no other career to pursue.“It all left a bad feeling that still lingers today. Mikel only heard the allegation from his team-mate Ramires, who did not speak English. Other Chelsea players have since apologised but nothing from Mikel.” Clattenburg also picked out former Arsenal keeper Jens Lehmann for his “whinging”.“He was just so irritable and never stopped, one of those miserable blokes who would whinge about everything and everyone,” he added.“If the ball was round, he would whinge. If the ball was white, he would whinge. You would think: ‘Just give it a rest.’”He added: “But he would do snidey, little things himself that made it difficult and I didn’t enjoy refereeing him at all. He was erratic and his antics were not easy to deal with.”Former Liverpool, Newcastle and Man City winger Craig Bellamy headed up the list, followed by Manchester United legend Roy Keane and ex-Real Madrid defender Pepe. Tags: ChelseaJens LehmannJohn Mikel ObiMark ClattenburgRamireslast_img read more

Chelsea new boy makes great start

first_imgRecent signing Patrick Bamford scored twice on his first appearance in a Chelsea shirt as the Blues’ reserves beat Gillingham 5-4 on Tuesday afternoon.Teenage forward Bamford, a pre-deadline arrival from Nottingham Forest, netted as Chelsea’s second string raced into a 4-1 lead. Jacob Mellis, George Saville and Reece Mitchell also scored.Gillingham clawed their back to 4-4 before Bamford got the winner from the penalty spot after being fouled in the area.AdChoices广告Follow West London Sport on TwitterFind us on Facebooklast_img read more

WSOC : Orange bounces back to beat Villanova after loss to Georgetown

first_img Comments Before every game, Brittany Anghel and her Syracuse teammates pick a word or phrase, scribble it on a piece of medical tape with black permanent marker and wear the tape around their wrists.One game it was ‘commit.’ Another game it was ‘rise above.’For the Orange’s match against Villanova, the phrase was ‘our time.’‘Our time,’ Anghel said. ‘Our time to shine. Our time to show what we can do, that we can beat this team. That, that performance against Georgetown wasn’t really us.’Coming off a disappointing 3-1 loss to Georgetown on Friday, Syracuse turned things around on Sunday at Syracuse Soccer Stadium, picking up a critical 1-0 win over the Wildcats. SU’s (3-4-3, 2-2 Big East) lone goal came off a toe poke from the right foot of Megan Hunsberger in the 57th minute, breaking a scoreless tie in front of 412 spectators.AdvertisementThis is placeholder textSU head coach Phil Wheddon said that a critical win after Friday’s loss meant added pressure for the Orange.‘They know that we have to go 1-1 or at least that’s the goal to go 1-1 at least every weekend,’ Wheddon said. ‘So they’re aware of a certain amount of pressure, and I think they really stepped up today.’A freshman netted her first career goal and was one player in particular who really stepped up.Hunsberger sprinted down the left sideline and received a precise pass from midfielder Tina Romagnuolo, who had volleyed it over the head of a Wildcats defender.Villanova had two options: foul Hunsberger or let her take the open shot. The Wildcats decided on the ladder and with just the goalkeeper to beat, Hunsberger knocked in her first career goal by shooting to the far side of the net.With her goal, she also put SU in front. The emotion of the first goal of her career was overwhelming.‘It was awesome,’ said Hunsberger. ‘I didn’t even know what to do.’Early on, SU head coach Phil Wheddon wasn’t pleased with how his team came out. The Orange dealt with the same problems it had against Georgetown — not controlling the tempo and not possessing the ball with proficiency.To him, this was not Syracuse soccer.‘We didn’t play our brand of soccer for sure,’ Wheddon said. ‘ … I don’t think we executed the game plan in the first half.’At halftime, Syracuse made some adjustments to get around Villanova’s attempts at clogging up the center of the field with three midfielders. The Orange put more of a focus on playing out on the flanks and getting more mobility on the wide parts of the field, Wheddon said.So with the changes, SU’s offense was able to push the Wildcats defense back and apply more pressure on Villanova’s back line.‘In the second half, we were very dynamic,’ Wheddon said. ‘We were moving the ball. Getting open for the ball and when we do that I think we’re an exciting team to watch, and we create options that we did today.’SU had a couple key chances within the first seven minutes of the second half in the form of shots on net by Romagnuolo and Brielle Heitman.But after that strike from Hunsberger in the 57th minute, things started to get a little tense. Villanova was issued two yellow cards.Jenna Rickan was tripped to the ground by a Villanova defender after she had a legitimate scoring opportunity, and Brittany Kinmond was dropped to the ground deep in Villanova’s zone.It was the only way the Wildcats could slow down SU’s faster second-half pace.‘Even at the end, you could just tell it was getting chippier and chippier,’ Rickan said. ‘But we just kept going and realized it doesn’t matter who has the most yellow or whatever. It just matters that we won 1-0.’It especially matters that the Orange escaped with the dramatic victory because it’s hoping to have a realistic shot at a Big East tournament berth. And splitting weekend conference games is a necessity to achieve that goal.And after falling to Georgetown on Friday, SU couldn’t bear dropping another Big East contest against a beatable Villanova squad that isn’t at the elite stature it was a couple of years back, when it made it to the NCAA tournament.Today, it was SU’s time to take control.‘We’re sick and tired of saying this is our game, this is our game,’ Rickan said. ‘We want to just go and do it.’dgproppe@syr.edu Facebook Twitter Google+center_img Published on September 25, 2011 at 12:00 pmlast_img read more

MLB Trade Rumours: Angels, Indians battle hard to sign up Corey Kluber and Carlos Carrasco

first_imgAlso Read | MLB Trade Rumours: Houston Astros Consider Trading Carlos Correa To Free Funds?The Angels’ side lost the Gerrit Cole sweepstakes as he was traded from Houston Astros to New York Yankees. And they would be now looking for another high-profile starter. According to Sherman, there are reports that Angels have also looked at Indians’ player Carlos Carrasco.Also Read | MLB Trade Rumours: Philadelphia Phillies Snap Up Didi Gregorius In $14 Million Deal FOLLOW US Akhil Nambiar COMMENT Also Read | MLB Trade Rumours: Gerrit Cole Deal Could Have Domino Effect On Other Free Agent MovesCorey Kluber and Carlos Carrasco: Rough season so farCorey Kluber and Carlos Carrasco had been incredible in the seasons prior to the recent 2019 one. Meanwhile, in the 2019 campaign, both Kluber and Carrasco had an unexpectedly rough time. Carrasco was diagnosed with leukaemia, so he had to miss a large portion of the season. However, he made an inspiring return at the start of September 2019. On the other hand, Corey Kluber missed the final few months of MLB as he was suffering from a fractured right forearm. Before getting injured, Corey Kluber, who is a two-time Cy Young winner, bloated 5.80 ERA over seven starts and 35 2/3 innings. Even as the last season was a struggle for Kluber and Carrasco, teams won’t stop from trying to have a trade, looking into their statistics. They are the current top free agents.Also Read | MLB Trade Rumours: Chicago Cubs Surprise Many By Holding Talks With Josh Lindblom WATCH US LIVE Thanks to the Modern Game Committee, Ted Simmons is headed to the @baseballhall.Few have matched his consistent excellence behind the dish – before or since. pic.twitter.com/5bUWRCh2zl— MLB Stats (@MLBStats) December 9, 2019 Cleveland Indians and Los Angeles Angels are reportedly in discussions to trade Corey Kluber, but the Angels’ side are facing fierce competition from other teams in Major League Baseball (MLB) too. According to Jeff Fletcher of the Orange County Register, this trade will lead to the reuniting of Corey Kluber and Mickey Callaway. Callaway is a former Indians pitching coach, who is currently serving the Angels in a similar capacity.Also Read | MLB Trade Rumours: Anthony Rendon Inks Whopping $245 Million Deal With Los Angeles Angels Since Statcast began tracking in 2015, there have been 7 instances of a qualified hitter’s xBA being within .002 of his BA, in a year he hit .300 or better.Anthony Rendon is the only player on the list twice.His unique consistency & what it tells us:https://t.co/lvt8OGFAOv— Sarah Langs (@SlangsOnSports) November 25, 2019center_img Also Read | MLB Trade Rumours: New York Yankees Trying To Make Room For Cole? J.A. Happ Exit LoomsAlso Read | MLB Trade Rumours: Stephen Strasburg Re-signs With Washington Nationals In Record Deal First Published: 12th December, 2019 18:29 IST Written By Players with 20+ HR & 40+ 2B in each of the last 3 seasons:Mookie BettsFrancisco LindorAnthony Rendon pic.twitter.com/WIcyQRwQhq— MLB Stats (@MLBStats) December 12, 2019 LIVE TV SUBSCRIBE TO US Last Updated: 12th December, 2019 18:29 IST MLB Trade Rumours: Angels, Indians Battle Hard To Sign Up Corey Kluber And Carlos Carrasco Cleveland Indians and Los Angeles Angels are reportedly in discussions to trade Corey Kluber, but Angels’ side are facing fierce competition from other teamslast_img read more

Ghana players get royal audience with Asantehene

first_imgMembers of the Black Stars team will be welcomed to the Palace of the Asantehene, Otumfuo Osei Tutu II in Kumasi on Thursday afternoon.The visit by the team to the Manhyia Palace at 12:00pm will precede their day’s build up for the 2014 FIFA World Cup qualifier against Sudan on Sunday.Kwesi Appiah and his team arrived in the Ashanti Regional capital on Wednesday afternoon to continue with preparations after one workout in Accra the day before.After the meeting with Otumfuo Osei Tutu II, the Black Stars will play a test game on against second-tier side Asokowa Deportivo at the Baba Yara Stadium in Kumasi.The Asantehene, King of the Ashantis is an ardent supporter of the team.last_img read more