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Friday, August 31, 2012
International Chinese coal projects
On Dec. 4, 2011, a top China official said Bangladesh and China are set to sign a memorandum of understanding (MoU) to build a 1,320 megawatts (mw) coal-fired power plant in Chittagong under a joint venture. Chairman of the state-owned Bangladesh Power Development Board (BPDB) said the plant would be be built by the BPDB and China Hudian Hong Kong Company. Both the firms will decide on share of stakes of respective firms, timeframe and costs to implement the power plant under the joint venture. The power plant will run initially on imported coal, and will consume local coal to generate electricity in future subject to its availability.
BPDB earlier signed MoU with Indian National Thermal Power Company (NTPC) in September 2010 to build another 1,320MW power plant in Khulna, near Mongla Port. Although one year has already been passed there is no headway in implementation of the proposed joint venture power plant between the BPDB and NTPC.[1]
Dawei power station
The Dawei power station is a 4,000-6,000 megawatt power station which has been proposed for Dawei, Burma, to be operated by the Thai company, Italian-Thai Development Plc. It has been reported that firms from China, Korea and Japan are also interested. The output from the power station is notionally slated for a major industrial estate that includes a steel mill and petrochemical facilities.[2]
Kalewa power station
The Kalewa power station is a proposed 600 megawatt power station under construction by China Guodian Corporation and Tun Thwin Mining Co., Ltd. The power is proposed to be sold to the Monywa copper project which is operated by Chinese weapons manufacturer Norinco. The output from the Monywa mine will go to China, with a statement in 2009 on the Norinco website saying that the deal would ?enhance the influence of our country in Myanmar [Burma]?. The article also noted that a similar agreement will also allow China?s Taiyuan Iron and Steel (Group) Company, the largest steel manufacturer in the world, to mine the Sagaing division for nickel.[3]
Tigyit power plant
The Tigyit power plant is the only operating coal-fired power station in Burma. A Pa?O Youth Organisation report states that "in September 2001 the regime?s Vice-Senior General Maung Aye arrived and chose the place for the power plant, instructing local military to confiscate over 100 acres of local farm lands. No compensation was provided. The CHMC of China and Eden Group of Myanmar built the plant under the supervision of the Energy Ministry. Construction began in September 2002 and was completed in April 2005."[4]
In September 2010, Chinese company Erdos Electrical Power & Metallurgical Co. announced plans to build a 700-megawatt coal power plant in the coastal province of Preah Sihanouk in Cambodia.[5]
In November 2011, the Canadian government announced a new funding deal among Chinese backers for the $860-million Gething coal project, a 40-year metallurgical coal mine. Project proponent Canadian Kailuan Dehua (CKD) Mines said it will address both environmental issues and aboriginal concerns surrounding the coal mine in northeast British Columbia. West Moberly First Nation Chief Roland Willson said the Gething project is situated near Hudson's Hope, on top of an area of strong cultural significance. CKD's vice general manager Judy Matkaluk said the Prince Rupert Port is an important gateway for China and can handle additional coal capacity.[6]
Power Construction Corporation of China plant in southern India=
On April 13, 2012, Power Construction Corporation of China said it had signed a $2.4 billion contract to build the second phase of a coal-fired power complex for India's Infrastructure Leasing & Financial Services (IL&FS) in southern India. The second phase will include the addition of four generators each with a capacity of 660 megawatts (MW).
IL&FS said it would import coal from Indonesia, Australia and South Africa to fuel the plant, the first phase of which included two generators each with capacity of 600 MW. It has acquired a mine in Indonesia to supply the generators. IL&FS plans to sell the power from the project to state-run distribution companies on a long-term basis as well as in the open market.[7]
Sasan Ultra Mega Power Project
On June 29, 2011, Jotun India and Jotun China secured a contract for Reliance Power's Sasan Ultra Mega Power Project, a 6 x 660 MW plant in India. In China, 90,000 metric tons of turbine house steel structure will be coated with Jotun coatings, in addition to six sets of BTG (boiler, turbine and generators). In 2010, Jotun China Protective Management decided to set up a team to take care of international engineering companies and Chinese EPC companies active with cross border projects. With the help of Jotun's sister companies including Jotun Australia, Indonesia, Vietnam, India, Singapore and Philippines, U.A.E and Jotun Korea, a dozen cross border projects have been secured in the past years and supplied by Jotun China including: Australia Karara Mining project; Indonesia Tanjung Awar-Awar 2x350MW power plant project; Vietnam Ca Mau Fertilizer plant project; India Kamalaka 3x350MW power plant project; Philippines Mariveles 2x300 MW power plant project.[8]
CLP India
CLP India is a subsidiary of CLP Holdings, a company founded as China Light and Power Company Limited in Hong Kong. On its website the company states that the "CLP Group started its India innings by acquiring a stake in the 655 MW gas powered Gujarat Paguthan Energy Corporation (GPEC) in Bharuch, Gujarat in 2002. Since then, CLP India's portfolio has expanded to about 2,614 MW which include around 640MW of wind energy projects and a 1,320 MW coal fired power plant in Jhajjar, Haryana."[9] The Jhajjar Power Plant is a 1,320 MW (2 x 660 MW) supercritical coal-fired power station located at Village Khanpur, Dist. Jhajjar, Haryana. CLP states that the plant is scheduled to be commissioned "in late 2011". "Eighty-five per cent of it capacity is contracted for supply to the Haryana DISCOMs (UHBVNL and DHBVNL) and the remaining available capacity will be sold outside the state of Haryana to Tata Power," CLP states. The plant proposes to use domestic coal.[10] CLP India has also been reported to be bidding for a 4,000 MW project in Orissa.[11]
Mining
Between 2000 and 2007, Indonesian coal deliveries to China increased by 157%. In August 2010, China's sovereign wealth fund, China Investment Corporation (CIC) announced that, in order to "secure more resources in Southeast Asia and benefit from increasing trade in the region" it would "plough" US$2 billion into coal, electricity and port projects in Indonesia. No time limit was given for fulfilling these objectives, but CIC said it was interested specifically in three Indonesian state firms: the coal mine company PT Tambang Batubara Bukit Asam; the state electricity company, PLN; and port operator, Pelindo.[12]
Power generation
China Huadian
In October 2004 the Vice-President of China Huadian Corporation (CHD) met with a senior official from the Chinese Embassy in Indonesia seeking support for its plans for greater involvement in the Indonesia market.[13] The following year CHD won a $US400 million contract for the construction of 2?300MW coal fired power plant project in West Java, Indonesia.[14] The project was to supply power to PT Pembangkitan Jawa-Bali (PT PJB), a government-owned utility commonly referred to as PT PJB. The consortium selected to build the project was PT. Indika Inti Energy[13], a wholly-owned subsidiary of the Indika Group.[15]
In March 2005 there was a further high level meeting between CHD officials and the head of the state-run electricity company, PT PLN.[16] The following month CHD signed a Memorandum of Understanding with the governor of South Sumatra, Mr.Syahrial Oesman, for the development of a 4X600MW mine mouth power station in South Sumatra.[17] A few months later the formal Memorandum of Agreement was signed with the Indonesian President, Susilo Bambang Yudhoyono and Chinese vice premier Zeng Peiyan at a business luncheon. Signing the agreement were Mr. He Gong, the president of China Huadian Corporation, Mr. Eddie Widiono, the president director of Indonesian state-run electricity company PT PLN, Mr. Ismet Harmaini, president of Indonesian state-run coal company PTBA and Mr. Hendrik Tee, president of Indika. "This project is to be developed by 55% majority holding of China Huadian corporation," a CHD media release stated.[18] The project is the Banko Tengah power plant.[19][20][21] However, an October 2010 JP Morgan research report referred to the project as having stalled.[22] The plant was proposed to be built adjoining the Banko Tengah mine.
In September, 2010, China Huadian Corporation (CHD) announced that it had embarked on a "going abroad" path by launching the 180 MW Asahan No 1 hydropower plant in North Sumatra, Indonesia.[23] CHD also established a branch in Indonesia in August 2010, which became the first foreign-funded company licensed to operate a power plant in Indonesia. CHD Power Plant Operation Co (PPOC) general manager Jin Yingjun said, "Through this project, we have developed a new model for running power stations overseas. We aim to build up our team through this project and then further press ahead overseas."[23][24] The company also stated in a media release that PPOC had "signed plant operation deals with Indonesia and Malaysia worth $200 million last year" and falgged that it was "currently seeking to build a thermal plant in Vietnam."[23]
CHD also stated that the National Development and Reform Commission (NDRC) had approved a plan of China Huadian Engineering Co, a CHD subsidiary, to build a 65 MW coal-fired power plant on Batam Island, Indonesia.[23]
As of early 2011, the following projects were in various stages of development by China Huadian Engineering in Indonesia:[25][26]
- Lafarge, 33 MW coal-fired power plant, Aceh Besar, Sumatra - operating
- Asahan, hydropower station, Sumatra - operating
- Batam, hydropower station, Sumatra - under construction
- Indorama, 60 MW coal-fired power plant, Java - construction completed
Malawi
The Malawi Power Station is a 1,000 MW coal fired plant proposed for Malawi, Africa. China Gezhouba Group plans to build the plant for US $500 million. The plant is scheduled to start in 2013 and be completed by 2015.[27]
In 2009, China Huadian Company signed plant operations deals with Indonesia and Malaysia valued at $200 million.[23][24]
May 2011: Protests against coal mining operations break out in Inner Mongolia
As of 2011, Inner Mongolia is China's top coal producer, accounting for about a quarter of all domestic supply ? double what it was in 2005,[28] and squeezing out the indigenous Mongolian community from their homelands.[29]
Tensions increased after May 10, 2011, when a Han Chinese coal-truck driver ran over a 35-year-old Mongolian herder, known as Mergen, as Mergen tried to stop a convoy driving across fenced prairies in Xiwu. Allegations that the killing was deliberate inflamed passions in the indigenous Mongolian community, and protests erupted in at least three places.[29]
Five days later, a forklift operator named Yan Wenlong was killed at a coal mine near Xilinhot after he and other locals clashed with company employees in a protest over pollution from the mine.[30]
A peaceful gathering by Mongolian herders and students on May 23 at the banner capital in protest over the killing of Mergen reportedly led to violence and arrests as local authorities ended the demonstration by sending in police and "plain-clothes thugs." Two days later, about two thousand Mongolian herders, high school students and others mounted another demonstration and rally in Shilin Hot city.[31]
Video clips posted online by overseas supporters show herders being arrested after the face-off with military police in Ujumchin the previous week. According to overseas groups, crowds also took to the streets in Huveet Shar on May 26 and Shuluun Huh on May 27 with banners declaring: "Defend the rights of Mongols" and "Defend the homeland". The biggest protest was in Xilinhot, where 1,000 students in yellow and blue uniforms marched through the broad streets to the government headquarters on May 26.
Locals called for a worldwide demonstration against China for May 29, to demand the rights of Mongolians and the release of detainees. In response, Chinese authorities declared martial law in major cities of the Mongolian region including Hohhot, Tongliao, Ulaanhad (Chifing in Chinese), and Dongsheng in the face of mass protests by students and herders. Tight Security was imposed as the authorities attempted to quash any protest and unrest.[32]
Hundreds of Mongols marched later in the regional capital of Hohhot on May 31, 2011, the US-based Southern Mongolian Human Rights Information Center stated. Southern Mongolian Human Rights Information Center said a protest march also took place on May 30, 2011. AFP reported that the coal industry crackdown would include stepped-up checks on all existing and future projects and require all proposed mines to first submit environmental impact statements, the Inner Mongolia coal bureau's notice was quoted as saying.[33]
China's Yanzhou buys Inner Mongolia Haosheng Coal Mining
In September 2010, China's fourth-largest coal miner Yanzhou Coal said it will pay $682 million in an effort to acquire 51% of Inner Mongolia Haosheng Coal Mining. Yanzhou said it is looking to bolster reserves as Chinese coal consumption continues to surge. Yanzhou will pay $682.1 million to two sellers for a 35.5 percent stake in the developer of the Shilawusu coal field, and seek to buy a further 15.5 percent through an open bidding process, according to Bloomberg News. Yanzhou's last major acquisition was the $3 billion purchase of Australia's Felix Resources.[34]
China and UK fund coal gasification plant in Inner Mongolia
In Jun 2011, China Energy Conservation & Environmental Protection Group, a state-owned project developer, said it will build a $1.5 billion ?clean coal? plant in Inner Mongolia with U.K.-based Seamwell International. The plant on the YiHe Coal Field will produce power by the end of 2014 or 2015, and will generate 1,000 megawatts of electricity for about 25 years.
The plant will harvest its energy from gasified coal deep underground, the first commercial plant of its size, according to a statement from Seamwell. The project will drill to the seam of coal that is then ignited and injected with air, oxygen or steam to create synthetic gas. That will be pumped out and scrubbed before being used by a integrated gasification combined cycle power plant at the surface. There are 280 billion tons of coal resources in that region of Inner Mongolia, according to Seamwell.
The commercial plant will be fitted with carbon capture technology. The companies will first undertake a demonstration project at YiHe Field that Seamwell will finance after seeking funds globally. Once approvals are secured from the Chinese government, the companies said they will set up a joint venture in which Seamwell will own 49 percent and China?s energy conservation and protection group CECEP the rest.[35]
Sino-Sindh Resources, a local subsidiary of Global Mining Company is investing in Pakistan's Thar Coal Block-1 for coal mining and power generation of 900 Mega Watt (MW), signing an MoU with the government of Sindh for the project in September 2011. The company plans to invest US $4.5 billion until 2016. Thar Coal field would also be declared a Special Economic Zone, and mining would be started in April, 2012.[36]
Block IV of Thar Coalfield has also been allocated to China's Three Gorges Corporation. The project's plans include development of an open pit mine of 20 million tons per year, and a mine-mouth power plant of 3,000MW in two phases. In CY10, China Three Gorges had 74 overseas projects in 28 countries in progress.[37]
In September 2010, it was announced that Russia had agreed to supply China with 475 million tonnes of coal over the next 25 years. In the deal, China will provide Russia with a $6 billion loan to finance the development of several coal projects into large-scale mines. The announcement followed a conference on energy cooperation in Blagoveshchensk, attended by Sergei Shmatko, Russia's energy minister, and Zhang Guobao, director of China's National Energy Administration. The Russian ministry stated: "Agreements have been reached on supplies of at least 15 million tonnes of [Russian] coal to China over the next five years and at least 20 million tonnes per year afterward. China's $6 billion loan will be secured by the Russian coal exports. The money will be used for everything from mine development and construction to the building and expansion of transportation infrastructure." Russia and China also agreed to conduct a preliminary feasibility study to set up another joint-venture for the development of a coal-to-liquids project in Russia.[38]
In 2009, China president Hu Jintao and Serbia president Boris Tadic signed a 15-year agreement for China to invest $1.25 billion in Serbia?s infrastructure and energy. OPM Kostolac, a unit of Serbian power monopoly Elektroprivreda Srbije, plans to revitalize two 350-megawatt power blocs and build a desulphurization unit, rail tracks and a new port on the Danube river, the first phase of a billion-dollar project that would also lead to the construction of a new power bloc and expansion of its coal mines. Two existing plants at the TPP Kostolac Power Plant, with respective installed capacity of 100 megawatts and 200 megawatts, will be decommissioned in 2017 and 2024 and replaced with the new one. Kostolac currently relies on the Drmno mine, which has around 350 million tons of remaining coal reserves, and is considering acquiring the nearby Dubravica field, which contains around 400 million tons of recoverable coal reserves out of an estimated deposit of 1 billion tons.[39]
The new power bloc is expected to produce 2.5 billion kilowatt-hours of electricity a year based on 7,000 operating hours, compared with the total national output of 35 billion kilowatt-hours. The first phase will take 30 months to complete. The second phase, to start in 2014, will be worth around $700 million and involves a new 350-megawatt bloc with a lifespan through 2060 and the expansion of the Drmno mine coal deposit field. The new bloc should start generating power between 2014 and 2020.[39]
On October 20, 2011, Serbia's power utility Elektroprivreda Srbije (EPS) said it had signed a preliminary deal with a Chinese consortium to jointly build a 744 megawatt coal-fired unit at an estimated cost of more than 2 billion euros ($2.7 billion). Under the deal, a consortium that includes China Environmental Energy Holdings and Shenzhen Energy, and EPS, will form a joint venture for the future project in the southwestern town of Obrenovac, part of its TPP Nikola Tesla Power Plant power complex. An upgrade of the Radeljevo coal mine will feed the plant. The deal is the latest in a series of energy projects agreed over the past two years with China, along with Russia, when Serbia faced international isolation in the 1990s.[40]
On November 1, 2011, Bloomberg reported that Kostolac expects the Export-Import Bank of China to approve a $344 million loan soon to finance coal plant upgrades in 2012. Kostolac also wants to win a two-year accord with Germany?s Vattenfall Europe AG to provide consultancy services and help Kostolac improve open-pit operations.[39]
In November 2010, China's third-largest state-owned producer, Datong Coal Mine Group, said it is seeking coal mines in South Africa and other selected countries (Australia, Indonesia, and Russia), and plans to invest "tens of billions" in the new energy sector as part of its five-year development plan. President Wu Yongping of Datong ? the parent of the Shanghai-listed Datong Coal Industry Company Limited ? commented: ?We are mainly looking at partnerships in these overseas ventures, but we won't rule out developing any mines on our own.?[41]
Kiwira coal mine
In June 2011, China Energy and Mines minister William Ngeleja said the country will invest $400 million in Tanzania?s Kiwira coal mine project estimated to generate 200 megawatts of electricity. The money comes under a soft loan arrangement. Five groups, including Tanzania's National Social Security Fund, applied to run the project, before the government accepted China?s offer.[42]
Mchuchuma Coal Mine
It was announced in September 2011 that China's Sichuan Hongda Co. Ltd. signed a $3 billion deal with Tanzania to mine coal and iron ore in Tanzania. The investment involves construction of the Mchuchuma Coal Mine and an accompanying 600-megawatt (MW) thermal power station. It is estimated that Mchuchuma coal deposits have more than 480 million tonnes of coal reserves.[43]
A new company, Tanzania China International Mineral Resources (TCMR), has been created to build the mines with the Chinese mining company taking a 80 per cent stake. The remainder of the company will be owned by Tanzania?s state-run National Development Corporation; although there are reports that NDC will be able to increase its stake to 49 per cent once Sichuan Hongda has recovered its original investment.[44]
On May 7, 2012, Guizhou Guochuang Energy Holding Group said it had raised 3.9 billion yuan ($616 million) in a private placement to be used mainly to acquire and develop Triple H Coal Company, making it the first Chinese company to invest in coal in America. Guochuang also said that a wholly owned subsidiary, Jiangsu Dipu Mining Investment Co., would acquire a full stake in Treasure Port International Limited (TPI) for up to $10 million. In March 2011, TPI had acquired Triple H Coal, mainly funded by borrowing from Questmark Mining Rights Investment Fund. Guochuang said Triple H Coal has five mining permit applications awaiting approval, and the company plans to build five new mines with 1 million tons of capacity each after the acquisition, which will have annual production capacity of 5 million tons of coking coal.
In the same May 2012 MarketWatch article, it was reported that American coal producers are hoping to attract Chinese investors to jointly develop coal mines in the United States. According to an unnamed executive at a large US coal company: "As far as I know, Datang, Huadian, Shenhua, China Coal, Qinfa Group and China Coal Solution are all attempting to acquire coal assets in the United States." A top Shenhua executive said that coal mines in Tennessee were attracting a lot of attention from investors.[45]
In April 2012, Hattat Holding AS, a Turkish group with interests in mining, auto, and energy, signed an agreement to build three power plants each with a capacity of 660 megawatts for $2 billion with China Power Investment Corporation (CPIZ) and Avic International. The agreement includes developing coal mines for $300 million in Bartin in northern Turkey where the plants will be located. The plants will be coal-fired.[46]
Plant in southern Vietnam's Binh Thuan province
In September 2010, the National Development and Reform Commission, China's top economic planner, approved a plan by a consortium led by China Southern Power Grid Corp. to build a coal-fired power plant in southern Vietnam's Binh Thuan province. The plant will have two generators, each with an annual power generating capacity of 600,000 kilowatts. The first generator is expected to come online in 2014. The $1.75 billion project will be China's largest investment in Vietnam and Chinese banks will provide funding.[47]
Vinh Tan power station
The Vinh Tan power station - a USGS report states that "in 2007, the Vietnamese Government authorized China Southern Grid (a Chinese electricity company) to conduct a feasibility study for a proposed 1,200-megawatt (MW) thermoelectric plant in Binh Thuan Province in Vietnam. Construction of the $1 billion coal-fired powerplant was expected to begin by the end of 2007."[48]
Kien Luong 1 Thermal Power Plant
According to a September 2010 article in China Daily, the company "is currently seeking to build a thermal plant in Vietnam and they are conducting the negotiation with the relevant foreign parties."[23][24] The plant is the 1200MW Phase 1 of the Kien Luong 1 Thermal Power Plant proposed by the Tan Tao Energy Corporation (TEC) of the Tan Tao Group. The Saigon Times reports that the project is the first "BOO (build, own, operate) project in Vietnam, with total investment capital of about US$2 billion." The proposed total plant has been mooted as 4,400-5,200 MW.[49]
In August 2011, President Viktor Yanukovych said Ukraine is seeking to get $1 billion of Chinese investments to develop its coal-mining sector. Agreements have been made with China to start a joint pilot project to upgrade the Melnykova mine in the Luhansk region in east Ukraine.[50]
The Collum Coal Mine is owned by China in the southern town of Sinazongwe in Zambia. Twelve workers were injured on October 15, 2010, when mainly Chinese managers fired randomly at workers protesting poor working conditions. Investment from China has been on the rise Zambia, with several copper and coal mines bought by Chinese firms.[51]
In August 2012 Zambian miners killed a Chinese manager during a protest. The miners were protesting a delay in wage increases. Another Chinese was also injured during the scuffle.[52] On August 7, 2012 police charged a Zambia coal miner with murder in connection with the killing of a Chinese supervisor during a protest.[53]
Articles and resources
References
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- ? Zhang Boling, "China digs into American coal mines," MarketWatch, May 29, 2012.
- ? Ercan Ersoy, "Hattat Partners China Power, Avic for $2 Billion Power Plants," Bloomberg, April 10, 2012.
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- ? "Zambian miners kill Chinese manager during pay protest" BBC, August 5, 2012.
- ? "Zambia police charge miner over killing of Chinese supervisor" Reuters, August 7, 2012.
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Thursday, August 30, 2012
Lexington fayette county health department - HEALTH, BEAUTY ...
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Las Vegas burlesque star Holly Madison pregnant
FILE - In this Oct. 12, 2008 file photo, model Holly Madison poses on the press line at the Hollywood Life 5th Annual Hollywood Style Awards in Los Angeles. Burlesque performer and Las Vegas Strip star, Madison has announced she's going to be a first-time mom.(AP Photo/Dan Steinberg, file)
FILE - In this Oct. 12, 2008 file photo, model Holly Madison poses on the press line at the Hollywood Life 5th Annual Hollywood Style Awards in Los Angeles. Burlesque performer and Las Vegas Strip star, Madison has announced she's going to be a first-time mom.(AP Photo/Dan Steinberg, file)
LAS VEGAS (AP) ? Holly Madison, the blonde burlesque performer who worked at Playboy and on reality TV before starring in a Las Vegas Strip show, says she'll be adding a new title to the resume ? mom.
The 33-year-old star of "Peepshow" told Us Weekly she's 12 weeks into her pregnancy. Her boyfriend of nine months, Pasquale Rotella, issued an enthusiastic statement Wednesday.
"Holly and I are so excited to announce that we are going to be parents," said Rotella, who is CEO of Insomniac Events, organizers of the Electric Daisy Carnival rave. "We're in love and counting down the days until we meet our beautiful baby. I can hardly believe how lucky I am."
In May, Madison announced she would finish her run with "Peepshow" at the Planet Hollywood Resort and Casino on Dec. 30.
Show officials say tickets are still available through the end of the year, but they're working with Madison to determine how much of that time she'll be performing in the lead "Bo Peep" role.
"The producers of 'Peepshow' couldn't be happier for Holly as we know she has had a long desire to become a mother," show officials said in a statement, adding that they'll be making a casting announcement soon.
"Peepshow" debuted in March 2009, with Madison taking the lead in June of that year.
Madison previously worked at Playboy and dated the magazine's creator, Hugh Hefner. She's also known for her role in the reality show "The Girls Next Door."
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Saturn and its largest moon reflect their true colors
ScienceDaily (Aug. 29, 2012) ? Posing for portraits for NASA's Cassini spacecraft, Saturn and its largest moon, Titan, show spectacular colors in a quartet of images being released today. One image captures the changing hues of Saturn's northern and southern hemispheres as they pass from one season to the next.
The images can be found at http://www.nasa.gov/cassini,http://saturn.jpl.nasa.gov and http://ciclops.org .
A wide-angle view in today's package captures Titan passing in front of Saturn, as well as the planet's changing colors. Upon Cassini's arrival at Saturn eight years ago, Saturn's northern winter hemisphere was an azure blue. Now that winter is encroaching on the planet's southern hemisphere and summer on the north, the color scheme is reversing: blue is tinting the southern atmosphere and is fading from the north.
The other three images depict the newly discovered south polar vortex in the atmosphere of Titan, reported recently by Cassini scientists. Cassini's visible-light cameras have seen a concentration of yellowish haze in the detached haze layer at the south pole of Titan since at least March 27. Cassini's visual and infrared mapping spectrometer spotted the massing of clouds around the south pole as early as May 22 in infrared wavelengths. After a June 27 flyby of the moon, Cassini released a dramatic image and movie showing the vortex rotating faster than the moon's rotation period. The four images being released today were acquired in May, June and July of 2012.
Some of these views, such as those of the polar vortex, are only possible because Cassini's newly inclined -- or tilted -- orbits allow more direct viewing of the polar regions of Saturn and its moons.
Scientists are looking forward to seeing more of the same -- new phenomena like Titan's south polar vortex and changes wrought by the passage of time and seasons -- during the remainder of Cassini's mission.
"Cassini has been in orbit now for the last eight years, and despite the fact that we can't know exactly what the next five years will show us, we can be certain that whatever it is will be wondrous," said Carolyn Porco, imaging team lead based at the Space Science Institute in Boulder, Colo.
Launched in 1997, Cassini went into orbit around Saturn on July 1, 2004. It is in its second mission extension, known as the Solstice Mission, and one of its main goals is to analyze seasonal changes in the Saturn system.
"It is so fantastic to experience, through the instruments of Cassini, seasonal changes in the Saturn system," said Amanda Hendrix, deputy project scientist, based at NASA's Jet Propulsion Laboratory in Pasadena, Calif. "Some of the changes we see in the data are completely unexpected, while some occur like clockwork on a seasonal timescale. It's an exciting time to be at Saturn."
The Cassini-Huygens mission is a cooperative project of NASA, the European Space Agency and the Italian Space Agency. JPL, a division of the California Institute of Technology in Pasadena, manages the Cassini-Huygens mission for NASA's Science Mission Directorate, Washington. The Cassini orbiter and its two onboard cameras were designed, developed and assembled at JPL. The imaging team is based at the Space Science Institute in Boulder, Colo.
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Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/~3/4fLZsmKi1bk/120829191639.htm
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Wednesday, August 29, 2012
Oil, Power and Democracy in Iraq: Can They Be Reconciled?
The following article was first published by Keith Myers* on the Revenue Watch Institute website on 9th May 2012.
Can the Iraqi parliament overcome sectarian rivalries and fears to fulfill its role as a legislative and oversight body? Having led a series of workshops with members of parliament over the past nine months, there are glimmers of hope, but it is hard to be anything other than pessimistic.
Iraq has over 150 billion barrels of oil reserves, placing it among the top four oil-rich nations in the world, alongside Iran, Saudi Arabia and Venezuela. Iraq could become the largest incremental source of oil supply for world markets over the next decade. This oil generated $90 billion in revenues in 2011, and Iraq has the potential to quadruple production from the approximately 2.5 million barrels it now produces daily, to more than 10 million barrels a day?a rate on par with Saudi Arabia. Oil accounts for 93 percent of Iraqi government revenue and its management and fair distribution are central to political discourse. Yet, Iraq has been hindered by its inability to agree upon key policies and pass the legislation needed to manage its oil, such as an oil and gas law and a revenue management law which were first tabled in parliament in 2007, four years after the removal of Saddam Hussein.
The transparency initiatives that Western governments and NGOs champion as a solution to mismanagement and corruption are well-intentioned but miss the real issue Iraqis are struggling with: how power is distributed and exercised within the Iraqi state.
In a petro-state, whoever controls the oil, controls the power. The political conflict in Iraq boils down to how control over oil should be allocated. The 2005 Constitution envisions a federal Iraq that divides power between a federal government, state-level governates and the semi-autonomous Kurdish region?a balance of power that would prevent a return to dictatorship, with no individual or faction having a monopoly control of Iraq?s oil.
Since the last election and the formation of the Maliki-led coalition government, a strong Kurdish regional government has evolved alongside a dysfunctional and increasingly autocratic federal government in Baghdad. The governates, seeing the benefits that autonomy has brought the Kurds, want it for themselves, or at least a larger share of oil revenues.
The conflict between the ?centralizers,? who see the federal government as the ultimate national authority, and the ?devolvers,? who view the federal government as having more limited powers and being accountable to the regions and governates, has manifested in the inability of the parties to agree upon the necessary oil and gas and petroleum revenue laws. These laws are fundamental to how Iraq generates and distributes revenue, and drafts of both have been in parliament since 2007. The Constitution is key, as it is meant to define how power is distributed in the Iraqi state, and it is constantly referenced by parliamentarians. However, its open-ended language leaves room for interpretation on critical policies and issues, highlighting the need for a supreme court to interpret constitutional matters and a federal forum for determining policy that includes Kurdistan and the governates.
There is also an ideological component to political divisions. Some ?devolvers,??particularly Western-educated ?migr?s who often return with a liberal economic agenda?favor privatization, while ?centralizers? prefer to maintain state participation throughout the energy sector.
After three workshops over nine months, I find it hard to be optimistic that a resolution is in sight. On day two of the third workshop, an independent Shia MP, a respected Sheikh who has been critical of the government, failed to join us in the meeting room. His house had been bombed overnight. After confirming that no one was hurt, he rejoined the meeting, stoic but shaken. He spoke no English, but was clearly well-respected by his colleagues for his commitment to service, demonstrated in his constructive contributions to the workshop. The day before his house was bombed, he had told a joke about a Kurdish language teacher working in Baghdad who translated the Kurdish word for ?would? for his students?translating it instead as the Arabic word for ?shouldn?t.? ?But surely it means ?would,?? the teacher was asked. ?Yes,? the teacher said, ?but in Iraq what you would do, you shouldn?t.?
It?s a feeling of helplessness that was striking to our Jordanian facilitator, who noted that the MPs knew what was wrong, but felt powerless to effect any change. Asked what advice they would give to Libya following the revolution there, one female MP said, ?Look at what we have done and do the opposite.?
There are some causes for hope, however. When working in small multi-party groups, individual MPs agreed on many key issues. The high proportion of MPs who are women?six out of 12 in the third workshop?was encouraging, and these legislators took the lead in choosing one of the three draft bills to push forward. It was a welcome show of equitable leadership in a country where only one government minister is a woman.
The political challenges can seem intractable and it?s hard to imagine a resolution of the current legal and regulatory vacuum anytime soon. It may take a new government and an amended Constitution, or even a new generation of leaders, decades down the line, to fix the problems of Iraq?s post-dictator oil power structure. This is a lesson for the countries of the Arab Spring.
*Keith Myers is a London based oil analyst, managing partner of Richmond Energy Partners and a Revenue Watch Institute Advisory Board member.
Source: http://warrenbusinessconsulting.com/2012/08/oil-power-and-democracy-in-iraq-can-they-be-reconciled/
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UniCredit losses on loan, shares dropped - Fickle Finance
Federico Ghizzoni, CEO of UniCredit stated, ?Our net income dropped due to majority of provisions in loan loss with the total increase ratio coverage within Italy during this quarter.? He continued, ?There is an active progress of turnaround within the country. It is seen with the improved operating in profitability during the first half of the fiscal year.?
In the previous year of the same quarter, UniCredit had 511 million Euros. Now, its net income decreased to 169 million Euros. It is equivalent to $207 million, according to the official statement of UniCredit. The statement was released on 3rd of August.
Moreover, Ghizzoni confirmed that the bank is going to have reorganization. Through the reorganization, lay off of employees is chained. It is geared towards improving its profitability while the country is experiencing its 3rd recession. It is also aimed to recover from sovereign crisis in debt.
Bloomberg News conducted a survey among 14 analysts from different financial research firms. The result showed that the respondent?s estimated average was missed by the Italy-based company. They estimated 305 million Euros.
On the other hand, the 2nd largest bank in Italy, Intesa Sanpaolo reported lower decrease in net income in 2nd quarter. It had a little tax gain which covered the impact of increasing bad loans as well as lesser revenue.
Source: http://www.ficklefinance.com/unicredit-losses-on-loan-shares-dropped/
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