After fighting tooth and nail, Mexico’s state oil operator, the behemoth known as Pemex, managed last month to wrestle control of the country’s largest ever private oil discovery from the companies that discovered it. Eschewing even the option of a joint development, Pemex demanded, and received, sole operatorship of the Zama megafield. It was a decision that sent a statement, and that statement was ‘Mexico First’ in line with the government’s nationalist bent. And now, in the cruellest of ironies, reports seem to be confirming that Pemex does not have anywhere near enough cash to develop Zama over the next five to seven years.
It should be noted that Pemex had, in a letter to Mexico’s Energy Minister Rocio Nahle in early July stated that it had ‘sufficient financial capacity to develop the project. That letter, presumably, played a large role in the Energy Ministry’s final decision to award Pemex a 50.4% stake in the Zama field and operatorship. At that point, it seemed like a resolution to a conflict that dates back to 2018, when it was established that the Zama field – discovered by a Talos Energy-led consortium in the first private sector exploration well to be drilled in Mexico since 1938 – shared the same reservoir as one owned by Pemex. Total recoverable resources at Zama are estimated at nearly a billion barrels, with the commercialisation plan presented by Talos Energy calling for first oil by 2022 with peak production at around 100,000 b/d.
That is a huge prize, particularly for Pemex, which has been facing a chronic decline in its oil and gas output for decades. Whether it was conceit or deceit that drove it to wrestle control of Zama, Pemex may now have to contend with the reality that it won a battle but lost a war. Because it is estimated that the cost of developing Zama is nearly US$2 billion, cash that Pemex – already the world’s most indebted oil company – does not have. But instead of repairing bridges, Mexico seems to continue striking a pose it cannot afford. Options to overcome Zama’s funding challenges that would allow Talos Energy (now a minority stake holder in the Zama project) to provide financing using barrels as collateral were shot down by Pemex’s top brass and the Energy Ministry, viewing it as a threat to Mexican oil sovereignty.
How did Pemex get to this point? On the surface, you could blame the new government under President Andrés Manual López Obrador (AMLO) that has, since 2018, reversed many of the energy initiatives set up by his predecessor Enrique Peña Nieto. This included cancelling new oil auctions and axing reforms which has cast a chill over Mexico’s upstream industry that the international majors that were tempted there. After all, who wants to invest a country where the government can just seize assets on claims of sovereignty? But while AMLO seems to be operating in a dream world where the idea of Pemex’s power far exceeds its actual reality, the truth is far starker. Pemex is badly run, and has been badly run for many decades now.
Pemex is a state oil company, and like all state oil companies, it has been treated as a cash cow by the state since the oil industry was nationalised in 1938. In some case, say Equinor in Norway or Petronas in Malaysia, this relationship is benign, sometimes beneficial. But in some cases, say Pertamina in Indonesia, it can be less progressive. Pemex is the latter. In 2003, Pemex’s total debt stood at some US$63 billion. In 2020, despite the recovery in oil prices, total debt has now soared to over US$105 billion. That alarming level of indebtness is already causing a credit crunch: Pemex is facing problems raising cash to meet liabilities – including a vast pension system – while Moody’s has slashed its credit rating to junk citing ‘obvious logical contradictions’ in Pemex’s ability to balance revenue generation with debt servicing. It is already delaying payments to some private oil contractors, and its woeful ESG reputation, which has already restricted access to debt marketsm was further bruised by a fatal fire that broke out on the E-Ku A2 platform working on the Ku Maloob Zaap asset in the Gulf of Mexico. Instead of providing reassurances of safety, Mexico has instead prioritised production, ordering a return to full production by 30 August. That is how bad Pemex’s cash situation is.
In the meantime, crude production is declining and declining rapidly. Pemex’s current output is an estimated 1.7 mmb/d, almost half of what it was in 2004. Upon taking office in 2018, AMLO claimed he would bring Pemex’s production back to 2.4 mmb/d. That has not happened. The President than lowered the target to 2 mmb/d in March 2021 – arguing unusually that overexploitation would be bad for future generations. But that has also not happened. It should be noted that Mexico was the lone holdout among the wider OPEC+ club in the historic supply deal agreement in April 2020 to restrict supply in the face of Covid-19, preventing OPEC+ from reaching a symbolic 10 mmb/d cap, settling for 9.7 mmb/d instead.
Meanwhile, private crude production in Mexico is gaining. Tempted there in the wake of the 2013 Energy Reforms, key players such as Eni, Petrofac and Hokchi Energy have lifted independent crude production in Mexico to some 70,000 b/d in June 2021. Based on current plans and sanctions, private production could increase to 280,000 b/d in 2024 and over 400,000 b/d in 2028. Pemex, on the other hand, continues to struggle, with nearly half of its June 1.7 mmb/d output coming from five mature fields – Maloob, Zaap, Ayatsil, Xanab and Ku. Against this backdrop, it seems bizarre to act antagonistically against private oil players – since they are developing Mexico’s upstream industry where Pemex can’t – but here we are piling on the problems, Pemex has also committed to acquiring the Deer Park refinery in Texas from Shell and started construction of the massive US$10 billion Dos Bocas refinery, its seventh in the state of Tabasco, betting that refining will be key to process all the crude that Pemex has yet to produce to plug Mexico’s fuels gap.
The logical conclusion to the current scenario is that Pemex is bracing itself for a collapse. But it is ‘too big to fail’. Under AMLO’s administration, Pemex would have to be bailed out to preserve energy sovereignty. If the 2013 Energy Reforms was still intact, this could cushion the blow, and allow Mexico’s upstream industry to continue developing while Pemex restructures. Instead, Pemex seems to be barrelling towards a worst case scenario outcome that could infect the broader economy. The irony of winning Zama but being unable to finance its development is not a cause; it is a symptom of Pemex’s broader disfunction.
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Today we will certainly discuss industrial timber pellet mill Most of us know that contemporary society promotes the recycling of resources, especially waste wood, sawdust, straw, and so on. The timber that might not be utilized before can be refined into sawdust after squashing and also processing., sawdust as well as other raw materials, advertise the recycling of waste wood, as well as facilitate our lives.
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Sawdust source has the features of high calorific value as well as reduced emission of unsafe gas. It can be used as a high-quality biomass resources for power usage, which can lower the intake of non-renewable energy such as coal, oil as well as natural gas. Currently, the energy use techniques of sawdust in my country generally consist of: straight combustion heating, granulation, gasification, liquefaction as well as carbonization.
Around us, waste wood, branches, waste wood scraps, bark, branches, waste boards, veneers, furnishings factory scraps, assorted wood, etc can be grated into sawdust, and also biomass pellet fuel is generated through the industrial timber pellet mill The finished product has high burning efficiency and little harm to the atmosphere, which can be claimed to kill two birds with one rock.
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1. Making use of industrial timber pellet mill.
The industrial wood pellet mill is a good gadget that can make sawdust energy. There are numerous house suppliers, which produce a large quantity of sawdust each year. Nevertheless, due to the influence of standard manufacturing techniques and also living routines, the use price of sawdust is extremely low, and a substantial amount of sawdust sources are disposed of or blazed, which not just creates waste of sources, yet additionally pollutes the air. The use of industrial timber pellet mills successfully recycles these resources.
Over the years, Richi Machinery has actually focused on the research and development, design and also production of commercial timber pellet mills, wood cutting pellet machines, sawdust pellet makers, biomass pellet machines, wood pulverizers, timber pellet assembly line, timber processing tools and also various other items. All items have passed ISO9001 :2008 The international high quality monitoring system qualification as well as EU CE qualification have gotten to the worldwide sophisticated degree, as well as the items swiftly cover the domestic market and are exported to countries all over the world.
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Considering that its facility, Richi Machinery has won the honorary titles of "Advanced High Quality Device" and " Top Quality Trustworthy Unit" each year, and also has been identified as a national AAA-level enterprise for high quality, track record and service. The firm has actually always stuck to the principle of " top quality first, online reputation initially", according to the tenet of "survive by top quality, and also look for take advantage of development", exerting its own benefits as well as gradually increasing its scale. In the future, the industrialized people will make persistent efforts to establish and develop products that are well gotten by residential and also foreign customers, as well as stroll in the forefront of the industry.
2. The development possibility of industrial wood pellet mill.
Over the last few years, many nations have better enhanced the development of brand-new power as well as the management of environmental issues. Biomass commercial wood pellet mills are not only environmentally friendly and also resource-saving, but also bring us economic value. They have been affirmed by several individuals as well as buddies, and the market sales are likewise high. For that reason, the development prospect of commercial wood pellet mill can be claimed to be extremely excellent.
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This strong gas that has actually been crushed as well as pressed by an industrial wood pellet mill has outstanding burning performance. Its thickness is larger than that of common fuels, and at the same time, the launch of various unsafe gases is reduced. It is a safe, green as well as environmentally friendly gas kind.
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It is no secret that the COVID-19 epidemic has forced us all to make significant changes in our lives. Remote work has been an option for businesses; K-12 schools have adopted distance learning as a necessity; many college students, who were previously enrolled in on-campus courses, now have to learn online.
While online learning carries many positive benefits that make it the preferred choice for millions of students, it doesn't come without its challenges--especially for students who are more familiar with in-person courses.
Here are seven tips from Jonathan Small (associate vice president for online learning at Regis College), that will help you to adapt your study habits to fully online learning.Tips for Online Classes1. Take the time to plan ahead and understand when your assignment is due.
Online students interact with the subject matter and complete assignments via learning management software (LMS). Regis offers online classes through Moodle. Other popular tools include Canvas and Blackboard.
It doesn't matter what LMS you use, it is important that you take the time to familiarize yourself with the interface as well as your assignments. Take a look at the due dates for your assignments so you can create a realistic plan to complete them.
Small says that online classes are often structured in modular formats, which is different from face-to-face classes. You don't always have the physical reminder that your work is due in class. Online classes can be very busy, so students must organize their time.2. Make sure you have enough time to study.
Many students at Regis and other universities pursue their education while also fulfilling other obligations. You have to balance work, childcare, family obligations, and internships.
Small says, "Chunking tasks is a great way for students to feel accomplished." You feel like you are making progress. You can also schedule a time to study, which will help you establish and maintain a routine.3. Regular communication is essential for group projects.
Many college courses include group projects and assignments that you must compete with others in the class. This is true for both online and in-person courses. Small says that while in-person courses allow for group projects and bring people together face to face, online students must be careful about communicating effectively.
Groups must prioritize communication, regardless of whether it's via Zoom, email or phone call, instant messaging, shared documents, or any other form altogether.
Small says, "Find a system which works for everyone in your group and then follow up often."4. Split up work groups early.
It is important that groups are able to properly divide tasks so that everyone has a fair share and everyone knows exactly what they have to do.
Small advises that group projects should be planned far in advance so that everyone can share the work and coordinate their efforts. This way, even if something isn’t due for a few more weeks, everyone has the opportunity to use their time and work on their tasks as they can.5. Keep in touch with your professor frequently.
As important as it is to communicate with your classmates and group members, it's equally important that you communicate with your instructor or professor. Whether you need help with an assignment, or simply want to share your struggles with them, make the effort to contact your professor.
Small says that talking to your instructor is key to success. Small says that you don't have to struggle with your questions and concerns alone. The professor can help. Talking to your instructor for five minutes can help you save days of stress. You will feel better, get more clarity, and be more successful.
You don't have to communicate only when things are going wrong. You can build a rapport with your instructor by letting them know when things are going well.6. Participate as often as you can
Participation is key to your success, no matter if you are taking classes online or in person. Active participation not only shows your professor you are engaged but also shows you are learning and willing to do the work required to succeed. Participation transforms education from a passive process to one that is active.
Small says that the more you take part as a student the better your experience will be.7. Flexibility is key.
Flexibility is key to online learning, both for you and your fellow students--and even your professors.
Small says, "Remember that your instructors had only to switch to remote teaching within a weekend. That's the same time it took to transition to online learning."
"This happened by accident. It's possible to restore the campus community by simply being compassionate, active in your course material, and talking to your instructors. This will make the transition smoother.Put in the Work
Online learning might not be your first choice. However, the tips and advice above will help you make the most of your online courses. Clear and open communication with your classmates and instructors, as well as staying focused on the course material, will be key to your success in this difficult time.
Related article from studentjob.co.uk : http://www.studentjob.co.uk/blog/5757-best-online-exam-help-top-five-websites-you-can-trust
One of the most popular literary devices or genres is Satire. This genre is especially designed to criticize someone or group of people for their vices, wrongdoings, or shortcomings.
Usually, humor is used to highlight important political and cultural issues in a society. A satire article is a type essay that uses humor, sarcasm, and irony to ridicule a person, situation, or ideology. It pokes fun in an elite and sarcastic fashion at certain people or situations.
How to Write Satire Essays: Writing Tips
How do you write a satire article? It doesn't have to be difficult, even though it seems daunting. However, once you use the following tips, it can be an easy task to write a satire article.
Choose a relevant and original topic
This is why you will need to create a satire essay. Your first step is to pick a satirical essay topic. You may be assigned a topic by your professor or teacher in some instances, but you would need to create your topic.
Decide the topic of your essay. Depending on what you are interested in, you can choose to concentrate on either a political or societal situation.
However, it's a good idea to choose a topic you are already familiar with. This will make it easier to locate facts and evidence to support the views you hold.
Consider your audience
Your essay is the center of attention. You must consider your audience at every stage of the writing process. Your essay should be addressed to college professors or high school students.
Are professionals reading it or are you just a student? It is important to consider your audience and determine the right tone for your essay.
A casual tone is acceptable if your target audience is mostly friends and students. It's best to use a formal tone if your target audience is professionals.
What makes a humorous essay so engaging? It is the topic, or the writer's writing style that makes satire essays so interesting. Humor is the key ingredient to any satire essay. You want your audience to laugh at the absurdity or inanity of a person or situation. Irony, sarcasm or hyperbole are all great ways to accomplish this end.
These devices can be very effective if used in a thoughtful manner.
Be clear about the facts
Because satirical essays often use exaggeration and humor, it is crucial to write an essay that is straightforward. An essay that contains false or misleading information will not be accepted by the court of public opinion.
Therefore, facts should only be stated that are supported by strong evidence. If you want to give credibility, be sure to cite the source of your information after citing figures, theories, opinions, etc.
This would ensure your audience that your essay was credible. Avoid including arguments that you are unable to prove or find evidence.
Use the ELP Format
ELP format is a great tool to ensure that your satire essay will be professional and high-quality. ELP is an acronym that stands for ethos, logos, and pathos.
These three elements make up a large part of an essay and can either help or hinder your work. These elements are important and can be used in your essay.
Ethos informs readers about the topic at hand and their preexisting beliefs. To provide a foundation for readers, Ethos should be used as a tool in the introduction.
Logos give credibility to your work by providing facts and figures for the audience.
As the name implies, pathos will elicit the appropriate emotions and feelings from your audience. You can use this tool to invoke sadness, sympathy, anger or any other emotion.
It is important to avoid making offensive statements in satire essays, even though they are often filled with irony or sarcasm.
Your audience will likely include people from all walks of life. Therefore, it is important not to make comments that could be considered discriminatory or offensive for a particular section.
The art of discerning the right line between humor and offensiveness is delicate and requires practice. You can ask teachers or colleagues to give you second opinions so that your essay doesn't offend.