Senex to supply natural gas to Northern Oil Refinery in Gladstone

first_img Senex gas supply to Gladstone’s Northern Oil Refinery. (Credit: SatyaPrem from Pixabay.) Senex Energy has reached a domestic gas sales agreement (GSA) with Southern Oil Refining’s Northern Oil Refinery near Gladstone, to supply up to 2.5 petajoules (PJ) of natural gas.The GSA enables Northern Oil Refinery to expand its business and support the Queensland region in Australia with 32 direct jobs and hundreds of indirect jobs.Senex managing director and chief executive officer Ian Davies said: “Senex is pleased to be supporting 30 jobs directly and hundreds of jobs indirectly by providing natural gas to our new customer, Northern Oil Refinery and their Gladstone oil recycling plant.“This gas sales agreement adds to our existing portfolio of domestic customers with a Queensland presence including CSR, Orora, Visy Glass and CleanCo Queensland, reinforcing Senex’s importance as a supplier of natural gas to the east coast market.”Northern Oil Refinery will use Atlas natural gas for biofuels production at YarwunNorthern Oil Refinery is expected to use Atlas natural gas in its oil refining and advanced biofuels production plants at Yarwun, near Gladstone.The biofuels production plant is employing advanced research for utilising waste materials to produce bio-crude oil, and facilitate an advanced approach for management of used oils and eliminating waste, said the company.Under the terms of the agreement, Senex will supply Northern Oil Refinery with 0.3 PJ of gas per annum, for initial two and a half years, with an option to extend the gas supply for five more years at 0.35 PJ per annum supply, making the total contract quantity reach 2.5 PJ.The company’s signing of the GSA follows the new Atlas gas acreage award as part of the Queensland Government’s domestic gas acreage tender process. The new acreage is expected to support 50% rise in Atlas gas production, to nearly 18 PJ/year.Senex is an Australia-based oil and natural gas exploration and production company, focused on creating low-cost and safe operations in the Surat and Cooper basins.Davies added: “Senex is committed to investing for the long-term to unlock both development-ready and exploration opportunities and working with our customers to deliver affordable and sustainable gas supply to the domestic market.“It is also critical that customers commit to suppliers, just as Northern Oil Refinery has done, so as to support ongoing investment in upstream gas development.” Northern Oil Refinery is planning to use Atlas natural gas in its oil refining and advanced biofuels production plants at Yarwun, near Gladstonelast_img read more

Dutch pension fund replaces equity managers with BlackRock

first_imgAs a result, its matching portfolio now consists solely of government bonds and interest derivatives.Last year, the pension fund adopted a dynamic asset allocation strategy centred around SNPF’s ‘policy funding’.Under this new strategy, the scheme raises or lowers the risk profile of its investments in synch with its coverage ratio.SNPF chairman Eric Greup conceded that the strategy change had not yet taken into account the planned merger with SBMN, the €1bn pension fund for notaries’ staff.“Currently,” he said, “a working committee is assessing how the future joint investment policy could be shaped.”Greup explained that the schemes’ investment model differed too greatly for amendments ahead of the merger, but he said options had been identified for strategic asset allocation and interest hedges.SBMN has contracted out its asset management to Aegon AM.At the start of 2015, it replaced its capital contract for investments with Aegon funds, which allowed SBMN to choose its desired risk/return profile.Last year, the scheme for notaries’ staff replaced its interest hedge through the Aegon Long Duration Overlay fund with Aegon’s Strategic Liability-Management Fund (SLM).Last year, SNPF also outsourced its pensions administration to TKP Pensions.Greup warned that the planned merger was taking longer than expected and acknowledged that it could face a second delay.“Nevertheless,” he said, “our intention still is that the merger should start on 1 January retrospectively, if the deal is concluded not too long after this date.”According to Greup, all relevant bodies and authorities have already approved the merger plan, including the Dutch government.“However, the Council of State, the Netherlands’ highest legal college, is still assessing the necessary amendment of the Notaries Act,” he said.SNPF and SBMN returned 24.1% and 25.6%, respectively, last year, chiefly due to their interest hedges.Just before the recent reduction of the ultimate forward rate, their funding ratios were 108% and 109.7%, respectively. SNPF, the €1.4bn pension fund for Dutch notaries, has replaced equity managers JP Morgan Asset Management and BNP Paribas for BlackRock to “streamline” its investment portfolio.The pension fund, according to its 2014 annual report, made the changes to cut costs and reduce risk. It awarded BlackRock two passive mandates, covering developed and emerging markets.SNPF also concentrated its high-yield investments within the European credit section of its return portfolio.last_img read more

Lady Bulldogs Defeat Lady Knights

first_imgDogs over Knights in an early evening out…From Coach Shelly Prickel:The Batesville JV Volleyball team extended their record to 12-4 with a commanding 25-7, 25-10 win over South Dearborn. Grace Sarringhaus and Kerigan Haskamp were both 8 for 9 from the service line earning 7 points including 4 and 2 aces respectively. Regina Gerstbauer was perfect on all 8 of her serve attempts with 6 points including 3 aces. Sarringhaus had 5 kills in her 8 spike attempts, while Katie Bedel earned 4 kills in 10 swings. Nikki Fox had 10 digs to lead the back row. Belle Wolters had 6 assists while connecting on all 15 of her sets for the match.From the Varsity side of the net, The Dogs also made short work of the Knights, winning in25-8, 25-16, 25-16.  #7 Kylie laker had 7 aces on the evening while also connecting on 3 kills and 12 assists.  Leading the kills for the evening was #5 Macy Prickel with 7 kills and her own 2 service aces.  Not to be outdone form the service line was #17 Abigail Westerfeld with 4 Aces and 7 assists.  Full box scores and stats will be on MaxPreps tomorrow.  the win takes the team to 11-9 on the season and 5-5 in the EIAC.The Varsity team will travel to the Greenfield Central Cougar challenge on Saturday, and see Daleville and Lighthouse Christian in the first pooling. While the Freshman team will host the Freshman EIAC Tourney.Courtesy of Bulldogs Coach Jody Thomas.last_img read more

Super Falcons Primed for Good Outing against France

first_imgKick-off time is 9pm at the Stade MMArena.Today’s game is an interesting one with Nigeria a mix of veterans and upcoming stars, while France, who finished in fourth place at the FIFA World Cup finals in Germany seven years ago, also boast a number of new prospects.Falcons’ Head Coach, Thomas Dennerby, who had been in France three days before the contingent landed on Wednesday is expected to use the game to try out fresh invitees to spice up the team.All 18 players, including Holland-based Sophia Omotola Omidiji, a late call-up, had a light work out at the Le Clos Fleuri ground at 10am and later followed with a tougher session in the evening at the Le Mans Stadium.Nigeria’s Falcons have won eight of the 10 editions of the Women Africa Cup of Nations staged to date, and have represented Africa at all editions of the FIFA Women’s World Cup since the first competition was held in China 27 years ago.While Skipper Rita Chikwelu, Josephine Chukwunonye, Faith Ikidi, Ugo Njoku, Osinachi Ohale, Ngozi Okobi, Francis Ordega and Desire Oparanozie have been everywhere and seen it all, goalkeepers Onyinyechukwu Okeke and Chiamaka Nnadozie, as well as Glory Ogbonna and Anam Imo are starry-eyed and looking to notch senior caps.The match comes just days after the Super Eagles concluded the first phase of their 2018 FIFA World Cup actual build-up with useful encounters against Poland in Wroclaw and Serbia in London, and the Under-20 boys concluded a two-match tour of the Arab Republic of Egypt.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram INTERNATIONAL FRIENDLYOlawale Ajimotokan in AbujaNigeria’s senior women national team, Super Falcons, is scheduled to take on France today in an international friendly in the city of Le Mans, west of France.last_img read more