Chevron has announced a 20% reduction in capital spending for the year, and a suspension of its share buyback scheme as it grapples with market volatility Chevron is cutting its 2020 spending plans in response to oil market crisis (Credit: Flickr/Tony Webster) Chevron is the latest oil major to announce deep spending cuts in response to the growing market crisis brought on by the coronavirus pandemic.The California-based energy firm has slashed its capital expenditure budget for the year ahead by 20%, down from $20bn to $16bn.Operations in the Permian Basin – rich oilfields spanning Texas and New Mexico – will be most affected by the spending cuts, with a $2bn reduction planned for upstream activity in the region. Chevron will slash $2bn from Permian spending plansAcross the Chevron portfolio, $2bn will be shaved off its Permian operations, while $700m will be cut from wider upstream projects and exploration, $800m from downstream and chemicals activity, and $500m from “upstream base business spread broadly across US and international assets”.The company added in a statement: “Cash capital and exploratory expenditures are expected to decrease by $3.3bn to $10.5bn in 2020. Total capital and exploratory spending in the second half of 2020 is expected to be about $7bn, an annual run rate 30% lower than the approved budget announced in December 2019.”Production is forecast to remain flat compared to 2019, although operations in the Permian Basin are expected to produce 20% below guidance, at around 125,000 barrels per day.Chevron’s upstream executive vice president Jay Johnson said: “The flexibility of our capital programme allows us to respond to these unexpected market conditions by deferring short-cycle investments and pacing projects not yet under construction.“At the same time, we are focused on completing projects already under construction that will start up in future years. while preserving our capability to increase short-cycle activity in the Permian and other areas when prices recover.” Chevron joins contemporaries in implementing deep spending cutsLike many of its contemporaries, Chevron has also suspended its $5bn share buyback programme as it seeks to leverage cost-saving mechanisms across its business in the face of growing markets pressures and falling oil prices.Chairman and CEO Michael Wirth said Chevron’s balance sheet was “resilient” enough to withstand the “challenging environment”, and that the spending cuts were designed to “preserve cash, support our balance sheet strength, lower short-term production, and preserve long-term value”.The spread of the Covid-19 pandemic has throttled world oil demand since January, while a Saudi-Russian price war and the prospect of increased crude production from next month has added further volatility to commodity markets.Despite rallying slightly today (25 March) in anticipation of a $2tn US stimulus package for coronavirus-hit markets, Brent crude prices have more than halved in just a matter of weeks under the strain of these evolving pressures.Chevron is the latest of a number of oil majors to announce spending cuts and a suspension of share buyback schemes, with Royal Dutch Shell, Total, ConocoPhillips and Equinor all pulling the trigger on similar interventions in recent days.The company confirmed, despite these measures, the situation is expected to deal “material” damage to its future financial and operating results, with a first-quarter update due to be released soon.
A woman has been taken to hospital after a bus crash on Magdalen Bridge around 3pm today.Cherwell understands she was rushed to John Radcliffe Hospital in a serious condition.Police closed the bridge, causing considerable traffic delays and disruption to the bus timetable.Our services are still being badly disrupted due to the ongoing incident on Magdalen Bridge. We are working hard to monitor services but some services will be curtailed or not operate.We apologise for any inconvenience caused.— Oxford Bus Company (@OxfordBusCo) June 6, 2018Oxford Bus Company has admitted that one of its buses was involved in the incident. Spokesman Greig Box Turnbull told the Oxford Mail: “We can confirm one of our City3 buses was involved in an incident with a female pedestrian on Magdalen Bridge at 2.15pm.“An investigation will be carried out to understand how it happened. We are liaising with the emergency services and will help in any way we can, this will include reviewing our CCTV footage. Our thoughts are with the lady who was taken to hospital and our driver.”
Ocean City firefighters and the Somers Point community joined forces to help a retired firefighter get a new roof installed at no cost. By MADDY VITALEOcean City firefighters are helping one of their own with home repairs and even the installation of a new roof.Jimmy Leone, 69, who retired from the Ocean City Fire Department in 2005, lives at 1400 Atkinson Ave. in Somers Point.When fellow firefighters found out he was not doing well physically and couldn’t do repairs on his home, they entered a contest that would give Leone, and his wife, Constance, a new roof to their 1950 home.Four local families, including a firefighter who worked with Leone throughout his career, nominated the Leone home for “Roof on Wings,” a promotion through Surf & Turf Roofing in Egg Harbor Township.The Leone home won, and on Thursday morning work crews were steadily chipping off the old roof. The roof work is expected to be completed this week.(Video courtesy of Just Right TV Productions)Ocean City firefighters Bob Bender, George Karpinski and Wyatt Clevenger watched as their former colleague’s home was rehabbed.“We had some people say Jimmy wasn’t doing well,” Bender said as workers scooped the shingles, old insulation and debris off the home. “So just being a brother in the firehouse, we wanted to see what we could do.”The home repairs began last Friday, July 19, when more than 10 firefighters went to Leone’s home to clean up the yard, clear brush and vines off the property and landscape.The firefighters also plan to be back to do any other sprucing up that is needed as well as repairs when the new roof is installed.“We looked at what we could do, but the roof was beyond our skills,” Bender noted. “We decided to give Roof on Wings a shot. We talked to some neighbors and four families nominated the home for a new roof.”Firefighters work July 19 to clear their fellow firefighter’s property before the roof installation begins. (Photo credit Just Right TV Productions)Guy Salani, whose family owns Surf & Turf Roofing, explained how the promotion works.The contest began in 2017 and is designed for the business to give back to the community, Salani said.Like in the Leones’ case, neighbors could nominate a home or friends and family. The winner has a new roof installed at no cost.Salani said a roof is the first defense for a home against the forces of nature, and any damage could be costly both outside and inside the house.“It is a very important expense that unfortunately some people just cannot afford,” he said.On Thursday, Salani chatted with the firefighters as his crews took down the old roof.“The outpouring of support by the firefighters and families for the Leones has been incredible,” he said.Surf & Turf Roofing owner Guy Salani, left, and Ocean City firefighter Bob Bender discuss the project.Retired Ocean City firefighter Gene Leonetti, of Somers Point, worked with James Leone throughout their careers spanning about 22 years.“When I worked with Jimmy, he was just a great guy and a great firefighter,” Leonetti said. “We were on the same shift for all of the years. He always had your back. He was a hard worker.”Leonetti continued, “We worked together in so many different jobs. We laughed together. We were family.”Over the last few months, Leonetti has driven by Leone’s home and noticed it needed repairs.“When I found out about the contest, Bob Bender put Jimmy’s name in,” Leonetti explained. “The fire department is one big family and we always have each other’s backs.”The roof shingles and debris fall to the ground. (Photo credit Just Right TV Productions)Owner of Surf & Turf Roofing Guy Salani (left) speaks with O.C. firefighter Bob Bender as firefighters Wyatt Clevenger (blue shirt) and George Karpinski watch the roof demolition.
Umphrey’s McGee is currently on tour, with their most recent stop at the Chastain Park Amphitheatre in Atlanta, Georgia last night. Following a crazy two days at Peach Music Festival, the Chicago rockers are two shows deep into their next slew of summer dates–which will bring them to LOCKN’ on Thursday for their highly anticipated UM > String Cheese Incident > UM > String Cheese Incident play.Umphrey’s McGee is known for their rock-heavy performances and complicated compositions, with a catalogue so expansive, you’ll never know what you’ll get. Their rabid fanbase lives for the setlists and the collaborations that result from the progressive rock band’s 20 year career. On Friday night, the six piece opened their set with a rare “Flamethrower,” a song performed only 26 times since its debut in 2012. The old-school rock anthems continued for the first set, with a “JaJunk” and “Miami Virtue” both jamming over the 12-minute mark. “Roulette” also made an unexpected appearance after a 161 show gap from 1/21/16. This led into another surprise visit from “Words,” which hadn’t been played in almost exactly a year, with a 92 show gap. The first set came to a close with a monstrous “Utopian Fir” that lasted over 16 minutes, leading into a “Glory” finale.Members of Umphrey’s McGee & Aqueous To Perform Green Day’s “Dookie” At Brooklyn Comes AliveThe second set opened with a cover of David Bowie‘s “Fame,” another huge bust-out for Umphrey’s McGee, only having performed it 11 times since 2004 and last time played during their Beacon Theatre run in 2016. The “Fame” jam continued into “Much Obliged,” which eventually invited moe. percussionist Jim Loughlin to join the stage for a 15+ minute “Ocean Billy.” With moe. on their indefinite hiatus, it was great to see Loughlin perform with his fellow rock mates. We will see moe. perform with Phil Lesh in place of bassist Rob Derhak, who is currently seeking treatment for oropharyngeal cancer, at LOCKN’ next weekend.From “Ocean Billy,” Umphrey’s kicked into “Den,” a song debuted in 2012, that’s been played only 26 times and never made it onto a studio record–though it earned a place on the Hall of Fame Class of 2014 from a 11/1/14 standout performance. The next big jam of the evening occurred with a “Phil’s Farm” into “Mail Package” deluxe. The set closed with “August,” before the band returned to the stage for “The Triple Wide” encore.Thanks to taper NSL, you can listen to the full show below:Setlist: Umphrey’s McGee | Chastain Park Amphitheatre | Atlanta, GA | 8/18/17I: Flamethrower > JaJunk, Roulette > Words > Miami Virtue > Cut Off, Utopian Fir > GloryII: Fame > Much Obliged > Ocean Billy*, Den, Phil’s Farm > Mail Package, AugustE: The Triple Wide*w/ Jim Loughlin (Moe) on percussion[cover photo from 7/23/17 by Phierce Photo by Keith G. (Instagram: @PhiercePhoto)]If you loved seeing Jim Loughlin sit in with Umphrey’s McGee, don’t miss moe.’s Al Schnier and Vinnie Amico at the upcoming Brooklyn Comes Alive with Joel Cummins and Kris Myers (Umphrey’s McGee), set to take place across three venues in Williamsburg, Brooklyn on September 23rd – 24th. The unique homegrown event puts the focus on the musicians, curating dream team collaborations, tributes, and artist passion projects for two full days of incredible music both new and old.The 2017 lineup is set to include hand-selected band lineups featuring all-star musicians like John Scofield, George Porter Jr. (The Meters), Aron Magner and Marc Brownstein (The Disco Biscuits), Mike Greenfield and Jesse Miller (Lotus), Jason Hann (String Cheese Incident), Alan Evans (Soulive), Cyril Neville (Neville Brothers), Henry Butler, Jon Cleary, Reed Mathis (Electric Beethoven), Michael League, Nate Werth, Chris Bullock, Robert “Sput” Searight, and Bob Lanzetti (Snarky Puppy), Jennifer Hartswick and Natalie Cressman (Trey Anastasio Band) and so many more!For a full list of artists, head to the event’s website. Two-day GA and VIP tickets are available now.
Australian singer-songwriter led John Butler Trio will return to North America for a 20-date coast-to-coast late fall tour. John Butler will be joined by longtime bandmates bassist Byron Luiters, and percussionist Grant Gerathy, in support of their upcoming studio album Home, due out September 28th via Nettwerk Records.John Butler Trio kicks off tour on November 16th at Washington, D.C.’s Warner Theater followed by a performance at Philadelphia, PA’s The Fillmore Philadelphia on November 17th. Up next is a stop at New York City’s The Beacon Theatre on November 20th and Boston’s Orpheum Theatre November 21st, before heading up to Canada for three shows in Montreal, Ottawa, and Toronto.The trio will then head back into the U.S., stopping on November 27th at Ann Arbor, MI’s Michigan Theatre, Chicago’s Chicago Theatre on November 29th, and the Taft Theatre in Cincinnati, OH on November 30th. John Butler Trio then heads through the South, followed by three stops in Texas, a stop in Tuscon, AZ, Los Angeles, CA, and the tour closer December 15th at the infamous Fox Theater in Oakland, CA.John Butler explains on his website,It’s been 4 long years since we last dropped a JBT album. I want to say right now thank you for your incredible patience and your support throughout that time, be it coming to shows, buying an album, streaming a song or spreading the word. Whatever you have been doing it’s been amazing because there seems to be more and more of your wonderful faces out there when we hit the road and play live. So it’s almost that time again, Sept 28th to be exact when our next album becomes a reality. And today you get a glimpse and a taste of HOME the album, through the new single, also called HOME! I sincerely hope you like our first offering, something a little edgier, a little darker or modern than you maybe expecting, but fresh and forward sounding. There’s so much more to come and it traverses some wide sonic territory from the production on HOME to simple folk songs with a little twist and everything in between…For a full list of upcoming tour dates and ticket information, head to the John Butler Trio’s website here.
May’s dual life of being an iconic musician and astrophysicist inspired the release of “New Horizons”, and serves as a tribute to the ongoing NASA New Horizons mission—which achieved the most distant spacecraft flyby in history on New Year’s Day. Snippets of spoken-word audio from the late Stephen Hawking are sprinkled into the new song as well. May and his surviving Queen bandmates have returned to the mainstream headlines in recent weeks thanks to the global success of Bohemian Rhapsody. Last week it was even announced that one of the band’s most beloved singles for which the film is titled after has become the most-streamed song of the 20th century. May continues, “I was inspired by the idea that this is the furthest that the Hand of Man has ever reached – it will be by far the most distant object we have ever seen at close quarters, through the images which the space craft will beam back to Earth. To me it epitomizes the human spirit’s unceasing desire to understand the Universe we inhabit.” Brian May – “New Horizons”[Video: Queen Official] May has been teasing brief clips of the song’s audio through his Instagram over the past few week, which features both 80’s-sounding MIDI notation to contrast the bright and natural distortion of May’s guitar. Listen to Brian May’s first solo release in 20 years below: Queen guitarist Brian May has released his first solo single in 20 years with “New Horizons”, which premiered directly from NASA Control Headquarters in Maryland to start 2019 on a good note, literally. The famous classic rock musician teamed up with English lyricist Don Black for his first new entirely single recording since his Another World solo album arrived back in 1998. May shared some thoughts on his newest release, stating, “This project has energized me in a new way. For me it’s been an exciting challenge to bring two sides of my life together – Astronomy and Music. It was Alan Stern, the Project Instigator of this amazing NASA Mission, who threw down the glove last May. He asked if I could come up with a theme for Ultima Thule which could be played as the NH probe reached this new destination.”
Ramin Karimloo View Comments Show Closed This production ended its run on March 22, 2015 The cold never bothered her anyway, right? Broadway megastar Idina Menzel, after receiving countless nominations for the ALS #IceBucketChallenge, finally took the plunge at the Richard Rodgers stage door following a performance of If/Then. She herself nominated If/Then producer David Stone, co-star Anthony Rapp and everyone at the stage door. That’s right. If you’re a Tony winner, the #IceBucketChallenge nominating rules don’t apply to you. But wait. Wait. OMG. 2460WHAT?! Sorry Idina, we interrupt this “Watch It” for a very important message. Ramin Karimloo, after being nominated by many (including our own Paul Wontorek), has also joined the movement. And not to be outdone by the boys of Newsies, the Les Miserables hunk is sans shirt. All for a great cause! Idina Menzel Star Files Related Shows If/Then
A team of over a dozen IBM volunteers worked through the day putting a new roof on the building that houses vital disaster relief supplies and tools at the regional headquarters of the American Red Cross. These critical infrastructure repairs are a direct result of a unique community partnership as IBM and the United Way of Chittenden County team up with Merchants Bank and the State of Vermont to support the American Red Cross. The Mansfield Avenue location in Burlington supports over 1,300 volunteers statewide who help their neighbors prevent, prepare for, respond to, and recover from emergencies.With funding from the Merchants Bank Foundation, matched in part by a grant from the State of Vermont s Human Services and Educational Facilities Grant Program, a dozen or so volunteers participated in the IBM Days of Caring program promoted by the United Way of Chittenden County. This partnership represents all that makes the non-profit / for profit partnership in Vermont so unique said Pat Kaiser, volunteer chair of the chapter. He went on to say; in these challenging economic times we want to make sure our donor dollars go directly into meeting the needs of Vermonters. These grants and volunteer efforts help us drive every dollar possible into critical disaster relief.All American Red Cross disaster assistance is free, made possible by voluntary donations of time and money from the American people. You can help the victims of thousands of disasters across the country each year with a financial gift to the American Red Cross Disaster Relief Fund. The American Red Cross honors donor intent so if you wish to designate your donation to a specific disaster, please do so at the time of your donation. Call 1-802-660-9130 to make a contribution to the Disaster Relief Fund or you can send your check to the Northern Vermont Chapter at 29 Mansfield Avenue, Burlington, VT 05401. Internet users can make a secure online contribution by visiting www.nvtredcross.org(link is external).Source: Red Cross
Dec 19, 2007 (CIDRAP News) – Despite recent spikes in H5N1 avian influenza activity in humans and birds, there have been fewer bird outbreaks in fewer countries this year than in 2006, according to a preliminary report from the United Nations Food and Agriculture Organization (FAO).As of Dec 10, 30 countries had reported H5N1 cases in birds this year, compared with 54 in 2006, the FAO reported. This year five countries have reported their first outbreaks: Bangladesh, Benin, Ghana, Saudi Arabia, and Togo. Except for sporadic outbreaks in wild birds, most of the H5N1 cases this year occurred in domestic poultry, such as chickens, turkeys, geese, ducks, and quail.The H5N1 outbreaks seemed to follow a seasonal pattern, in line with evidence that cooler temperatures are more favorable to influenza viruses. The FAO said outbreak numbers in 2007 were high between January and April, declined until September, and then started rising again in November and December.Increased awareness and improved disease surveillance have enabled countries such as India, Romania, Malaysia, and Turkey to detect and control the spread of the H5N1 virus, the FAO reported. However, the disease persists in Asia, Africa, and Europe and poses a risk for countries that have controlled outbreaks in the past and those that have not experienced infections yet, the organization stated.The FAO said Indonesia is still having a large number of H5N1 outbreaks in poultry, which largely reflects a new “participatory disease search” program designed to detect infections in backyard poultry. The program, with support from the FAO, is operating in 162 districts and nine provinces.Among other Asian hot spots for the disease, Vietnam reported H5N1 outbreaks in 22 provinces in May, the FAO reported. It said the disease appears to be endemic in Bangladesh.China had H5N1 outbreaks in Tibet in March, Hunan province in May, and Guangdong province in September, the agency said. In addition, routine surveillance detected the virus in March and April in the southern Chinese provinces of Fujian, Guangdong, Hunan, Hubei, Sichuan, and Chongqing, the FAO reported. Also, wild bird deaths were reported in Hong Kong but not in mainland China.The only Middle Eastern country reporting an H5N1 outbreak so far this year has been Saudi Arabia, which had its first cases in March, followed by several outbreaks near Riyadh in November.In Africa, four countries have reported H5N1 outbreaks in 2007, and the FAO said the virus is considered endemic in Egypt and possibly in Nigeria. “Several countries in West, Central, South, and North Africa are at risk of becoming infected, and early warning, surveillance, and preventive measures should urgently be taken,” the organization reported.Eight European countries have reported H5N1 outbreaks in 2007, the FAO noted.See also:Dec 2007 FAO H5N1 overviewNov 30 CIDRAP News story “UN: H5N1 responses improving, but threat persists”
Major Indonesian start-ups, such as Grab, Gojek and LinkAja, have provided features and promotions to facilitate micro, small and medium enterprises (MSMEs) in digitalizing their business to survive the pandemic-induced economic downturn.Ride-hailing company Grab Indonesia introduced Thursday a new app called GrabMerchant, aimed as a one-stop service platform that allows MSMEs, including those in food and beverage business, to digitally manage their operational hours, orders, employees, as well as menu and promotions.“We developed this feature because we understand that our partnering merchants face difficulties in accessing a purchasing network to meet their supply needs,” Hadi Surya Koe, the head of marketing at Grab Indonesia, said at a virtual press briefing on Thursday. Food and beverage businesses partnering with Grab can also benefit from the grocery feature to purchase staple supplies at a special price, the company announced.To do so, Grab Indonesia, which has recorded 187 million app downloads, cooperates with online grocery marketplace TaniHub and Sayurbox to provide next-day delivery of the supplies to its 100,000 merchants in seven cities.Small businesses, which contribute around 60 percent of the country’s economy, are losing sales because of the coronavirus restrictions, which are now being phased out in some places.The government has also allocated part of its Rp 641.17 trillion (US$45.1 billion) economic recovery stimulus to soften the impact of COVID-19 on micro, small and medium enterprises (MSMEs). For example, it has earmarked Rp 34.15 trillion in interest payment subsidies for ultra-micro businesses under the government’s UMi and Mekaar programs. Hadi said small businesses, employing the majority of the national workforce, currently accounted for 80 percent of Grab’s partnering merchants.Neneng Goenadi, the managing director of Grab Indonesia, said Thursday that the COVID-19 pandemic was pushing consumers to change their behavior toward online services, but SMEs were largely “unprepared to face the new normal” — a period during which people are forced to coexist with COVID-19 while waiting for a vaccine to be developed and licensed.Technology giant Gojek also announced on June 4 that it had facilitated 100,000 MSMEs to digitalize their business, aligning with the consumer trend of online purchasing during the pandemic.The company offers in-app on-demand services for customers of MSMEs, including food delivery service GoFood, e-wallet GoPay, as well as courier service GoSend.It also provides services to help facilitate MSMEs’ digitalization, such as GoBiz, part of its app that allows small businesses to manage their company online as well as Selly, which can help businesses optimize their sales by targeting potential customers.“In a time like this, it’s very important for MSMEs to have the ability to perform digital transformation and to move their business online. Restaurants, cafes and small shops can no longer rely on customers coming in person to their locations,” Gojek co-CEO Andre Soelistyo said on June 4 in an official statement.The company’s recent acquisition of payment startup Moka has also boosted its point of sales (PoS) so MSMEs can systematically manage their transactions and finance, the company stated.E-wallet platform LinkAja is pushing for an increase in digital transactions among MSMEs through various promotions, including 20 percent cashback for purchases in traditional market as well as 10 percent cashback for transactions in modern retailers and local merchants.The e-wallet platform, which partners with more than 200,000 local merchants, has seen a 64 percent surge in digital transactions in traditional markets and 12.8 percent in modern retailers.“The government policy to enforce social and physical distancing has changed preferences for public transaction. Not just for consumers, digital transactions are also essential for MSMEs to survive the pressure of the COVID-19 pandemic,” LinkAja president director Haryati Lawidjaja said in a statement released on Friday.Topics :