Easwaran Kanason

Co - founder of NrgEdge
Last Updated: August 29, 2021
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Business Trends

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.

End of Article

Market Outlook:

  • Crude price trading range: Brent – US$70-72/b, WTI – US$67-68/b
  • China’s success in stamping out new Covid-19 flare-ups has buoyed confidence in global crude markets, returning Brent to over US$70/b and WTI not far behind
  • After outbreaks of the delta variant, China’s zero-tolerance lockdowns has managed to reduce new cases to near zero, while also allowing the port of Ningbo – one of the largest in the world – to return to work after a 2-week shutdown
  • OPEC+ meets again on September 1 to discuss its response to the Covid-19 resurgence globally; the possibility of adjusting the group’s 400,000 b/d incremental increase in production quotas per month is open, but unlikely at this point

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Making use of commercial timber pellet mill

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.

Related post: wood pellet mill for sale

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.

Related post: biomass pellet mill for sale

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.

Related post: biomass wood pellet plant in Indonesia

In order to meet the  demands of different life  as well as production, industrial wood pellet mills  have actually  likewise been innovated  and also upgraded. These  cutting-edge  technical products are  made use of more and more widely in our lives. It brings us a very safe material for  individuals's livelihood heating  and also living  power. This  gas has a high  usage  price and is  simple to  shop. Especially, it can be  made use of as the  primary  gas type for thermal power generation, which greatly replaces the existing ones.  Different non-renewable  power sources such as raw coal and firewood,  gas  dissolved gas, etc can  successfully save the input of non-renewable fuel.

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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When  individuals have a  complete understanding of the  strong  gas of "biomass pellet fuel",  the marketplace demand for industrial wood pellet mills  as well as  various other mechanical  devices is also  boosting. The advent of industrial  timber pellet mill  has actually  developed  remarkable economic value  and also social  worth.

Now, countries around the world pay more and more  focus to the  security of the environment and the  application of  numerous  power sources. The innovative  study of industrial wood pellet mill has brought us the  efficient use of renewable energy to a  huge extent,  enabling us to obtain convenient, energy-saving, pollution-free  eco-friendly  power, and  likewise bring us  excellent resource maintenance.  Obviously, when we use the biomass  timber pellet mill  maker, we  should  follow the operating  specs  and also its  collection of  needs for material processing  and also  manufacturing, so as to increase its  result as  high as  feasible  as well as prolong its service life.

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August, 03 2022
Seven Tips for Online Learning During COVID-19

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 

Related Resources:

Are Online Classes Worth It? 12 Pros & Cons Of Online Learning

Tips to Be Successful in Your Online Classes In 2022

5 Reasons Why Online Learning is the Future of Education

The Impact of Online Classes on Students

August, 02 2022
What is a Satire Essay and How Does It Work?

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.

Add humor!

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.

Be tolerant

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.

Learn more at: https://proessays.net/blog/40-witty-topics-for-a-satirical-essay

July, 25 2022