Removal of US restrictions benefiting LIAT

first_img Sharing is caring! Share An easing in United States post-September 11 terrorism restrictions is allowing LIAT to expand one of its business lines.ST. JOHN’S, Antigua, Thursday December 22, 2011 – For the first time since the terrorist attacks in the United States in 2001, LIAT is able to move cargo into the United States territories within its network.“We were waiting for this for a long time and we have worked many hours to make sure that the service to our clients will be second to none,” said LIAT’s Country Manager in San Juan Sadie Boneta-Rittenhouse.This development has now allowed LIAT to now expand its service offerings in time for the lucrative holiday season.The airline launched its inaugural dedicated all-cargo freighter service into San Juan, Puerto Rico last week in what has been described as a “significant milestone” in its 56-year history.“Apart from the Christmas special we expect brisk business throughout the year as our rates are significantly cheaper than our competitors and more than 50 per cent cheaper at some break points. We invite the business community to make use of our service to ship car parts, food stuff, clothing, and even moderately sized building materials, said director of Cargo and Quikpak Wilbur Edwards.Edwards said that LIAT prepared meticulously for the service; and in addition to meeting all of the government’s requirements, had forged strategic relationships with several local companies who handle cargo, sales, and pick-up and delivery. LIAT launched its dedicated freighter service in February 2011. The company’s dedicated freighter aircraft has a capacity of 7,500 pounds.LIAT, the Caribbean’s main intra-regional carrier, is owned by regional shareholders, with major shareholders being the Governments of Barbados, Antigua & Barbuda and St. Vincent & the Grenadines. Caribbean 360 News Share Sharecenter_img 25 Views   no discussions Tweet LifestyleTravel Removal of US restrictions benefiting LIAT by: – December 23, 2011last_img read more


Records tumble at corporate area meet

first_imgIt was records galore on Thursday at the Digicel Anthrick Corporate Area Development Track and Field meet at the UWI-Usain Bolt Stadium, where some 30 new marks were achieved as Kingston College and Wolmer’s Girls walked away with top prize of $250,000 for being the top boys and girls school.Despite top boys team Calabar being absent and several top names from Kingston College, including the likes of Akeem Bloomfield, Jhevaugn Mattherson, Nathaniel Bann and Dontre Williams also not present, this did not take anything away as athletes from the respective schools warmed up for next month’s ISSA-GraceKennedy Boys and Girls’ Championships, with good performances, while gaining crucial points for next week’s Digicel Grand Prix finale at G.C. Foster College, where the top two teams from each region will advance.Kingston College topped the male section with 397 points, ahead of Jamaica College – second on 166, andExcelsior High in third with 164 points.Individually, on the male side, it was Kingston College’s Class Two athlete Zico Cambell, who stole the show.Campbell, who transferred from Glenmuir High last September and who is not eligible to compete at Champs this year, captured the shot put in a new record of 16.92m to erase Calabar’s Andre Chin’s two-year record of 15.32m. He returned to keep his lead in the Grand Prix discus after another record of 49.32m.After playing second fiddle to Calabar’s sprinters all season, Kingston College’s Yashawn Hamilton took the opportunity to take the lead in the Under-18 Boy’s 100m Grand Prix after clocking a fast 10.79 seconds to erase Calabar’s Daniel Bogle’s two years old record of 10.98 in winning the Class Two event, ahead of teammate Akeem Cargill, who finished second in 11.01, and Excelsior’s Craig Campbell coming in third in 11.05.The photo finish camera could not decide the winner of the Boy’s Class Two 110m hurdles as Kingston College’s Phillip Beckford and Orlando Smith both touched the finishing line together in a new record of 14.02 seconds.Other record breakers from Kingston College included Shane Buchanan (15:30.00) in the 5000m Open, and Marco Doodnauthsing (48.36) in the Class I boy’s 400m.MORE UPSETSExcelsior’s Nathan Brown led the way for the Mountain View-based team among the males as he clocked 1:53.95 in winning the Class One boy’s 800m in a record time, getting the better of Kingston College’s Lerone Bowden (1:55.14) and his teammate Shemar Hylton, third in 1:55.78.Jamaica College’s Detroy Stewart was an impressive winner in the Boy’s Class Two 1500m as he rushed to a new record of 4:14.55 in winning the event, ahead of his teammate, Rackeem Ricketts, second in 4:24.45 with Billy Watson of Kingston College taking third in 4:36.44.Despite a low-keyed season so far, Wolmer’s Girls showed that they will not give up their Corporate Area title that easily at “Champs” this year as they staved off a strong challenge from Excelsior to cop the female overall title with 359 points ahead of their main rival on 324 points.They dominated the sprints in Class One and Two as Trudyann Williams captured the Class One 100m in 12.00, edging out Camperdown’s Rushelle Burton, who finished second in 12.01 with third going to her teammate, Trishawana Crawford, in 12.23.last_img read more


ExxonMobil announces 19% reserves growth

first_imgExxonMobil Corporation recently announced that its oil and gas reserves grew by 19 per cent in 2017 owing to growth in several places like the US, the United Arab Emirates and Guyana. ExxonMobil reported its reserve update following its fourth-quarter earnings, which failed to meet expectations.In 2017, the company added 2.7 billion barrels of oil equivalent (BOE) to its reserves, which marks 183 per cent production replacement. It brings the company’s total proved reserves to 21.2 billion BOE. ExxonMobil believes that the proved reserves hold significant development opportunities, which can grow shareholder value in the coming years.Of the total proved reserves, 57 per cent was liquids, which increased by four per cent from 53 per cent in 2016. At the current production rate of the company, its reserves are expected to last for 14 years.ExxonMobil spent more than $6 billion in 2017 to increase its presence in the Permian Basin. The company added more than 800 million BOE to its reserves in the basin. The Upper Zakum field in the United Arab Emirates contributed another 800 million BOE. The company’s Guyana assets provided proved reserves of 3.2 billion BOE, where it is partnering with Hess Corporation HES and others.The company’s press release stated, “ExxonMobil’s resource base totalled approximately 97 billion oil-equivalent barrels at year-end 2017, taking into account field revisions, production and asset sales.”In May 2015, Exxon confirmed more than 295 feet of high-quality oil-bearing sandstone reservoirs was encountered at its Guyana Liza 1 exploration well.In late June 2016, Exxon’s drilling results at Liza 2 revealed more than 58 metres of oil-bearing sandstone reservoirs in Upper Cretaceous formations. The well was drilled to 5475 metres, at 1692 metres water depth. Drilling results confirmed recoverable resources to be between 800 million and 1.4 billion barrels of oil equivalent.The company had announced that it made its third significant discovery in its drilling explorations offshore Guyana. Its partner, Hess Corporation, had noted that the Liza 3 exploratory well’s net value could be US$6.2 billion based on calculations from the Bank of Montreal (BMO) Capital Markets.Drilling on Payara began on November 12, 2016, with initial total depth reached on December 2, 2016. In January of 2017, the oil giant had announced it had struck some 95 feet of oil reservoirs in its Payara-1 well, targeting the same type of reservoirs as the well’s Liza counterpart.Oil was discovered in the Turbot-1 well in October of 2017. According to the oil company following the discovery, the well reservoir was 75 feet deep. Drilling has been ongoing at the Turbot well since August 2017.The Stabroek Block is 6.6 million acres. Esso Exploration and Production Guyana Limited is the operator and hold a 45 per cent interest in the Stabroek Block. Hess Guyana Exploration Ltd holds a 30 per cent interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25 per cent interest.last_img read more