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GEORGETOWN, Guyana (AP) — ExxonMobil said it plans to explore for oil and gas in a disputed area off South America’s coast where the Venezuelan military had previously expelled two U.S. oil companies. The president of ExxonMobil Guyana, Alistair Routledge, told reporters that the concessions were granted by Guyana and that the company is committed to its operations despite the country’s ongoing tensions with Venezuela. In 2019, ExxonMobil was forced to abandon exploration activities after a Venezuelan military helicopter tried to land on a seismic vessel. The latest push by ExxonMobil comes as Guyana and Venezuela prepare to meet for a second time to try and diffuse the dispute over the Essequibo region. Essequibo is a mineral-rich territory that accounts for two-thirds of Guyana and lies near big offshore oil deposits.

Persons: Robert Persaud, Alistair Routledge, ” Organizations: ExxonMobil, Venezuelan, Associated Press Locations: GEORGETOWN, Guyana, America’s, Venezuela, Essequibo, ExxonMobil Guyana, Venezuelan, Texas, U.S

☆ Nostalgia From Movies, Songs, Games Is Good for Happiness, Innovation
▼ + stars: | 2024-01-30 | by ( Clay Routledge | ) www.businessinsider.com time to read: +9 min

To them, nostalgia might even cause people to be discontent with the present and pessimistic about the future. Studies indicate that feeling lonely increases nostalgia and that nostalgia, in turn, increases feelings of social connectedness. Americans 45 and older were more likely than those under 45 to view nostalgic memories as reminders of what's important and as sources of inspiration and guidance. That isn't surprising; older adults have more life experiences to draw from. Every one of them has stories of nostalgic inspiration — life experiences that sparked their passion.

Persons: Mario, Zelda, —, Gen Zers, There's, We've, it's, we've, I've Organizations: Mario Bros, Pew

☆ There's a reason why some Christmas songs make you cry
▼ + stars: | 2023-12-04 | by ( Rosalind Ryan | ) www.businessinsider.com time to read: +5 min

Christmas songs may be written in a certain way to trigger feelings of sadness. A quick Google reveals many people feel sad when they hear Christmas carols or a classic Christmas tune. Christmas songs connect us to the pastOne reason Christmas music triggers such strong emotions is because it takes us right back to our childhood. Some songs have been written to trigger emotionsSome Christmas songs may have been written with the specific intention of triggering sad emotions. "Christmas songs are as much about memories and feelings as they are about the properties of music itself.

Persons: —, I'm, Clay Routledge, Routledge, Marianne Rizkallah, it's, we've, Rizkallah, Bing Crosby, Rosalind Ryan Organizations: Service, North London Locations: UK

☆ Guyana contractor in US probe leaves $300 million Exxon shore base project
▼ + stars: | 2023-10-04 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +4 min

Mohamed's decision to leave the consortium could reduce complications for the Texas-based company should U.S. authorities decide to levy sanctions on the pair or file an indictment. The construction of the shore base is part of Exxon’s efforts to expand oil production off Guyana’s coast, an important part of the company's growth plans. Following the Reuters report in July, Exxon had made an internal decision to remain neutral on the Mohameds, according to four sources with knowledge of the matter. Nazar was quoted in local media on Tuesday saying his decision to leave the consortium was based on religious beliefs. Reporting by Sabrina Valle; Editing by Richard Valdmanis, Richard Chang and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nazar Mohamed, Azruddin, Mohamed's, Alistair Routledge, Mohamed, Exxon, Andron Alphonso, Nicholas Deygoo, Boyer, Jan De Nul, Nazar, Washington, “, ”, George McEachern, Sabrina Valle, Richard Valdmanis, Richard Chang, Aurora Ellis Organizations: Exxon, Exxon Mobil Corp, Reuters, Mohamed’s, NRG Holdings, Company, U.S, FBI, International Corruption, Thomson Locations: Guyana HOUSTON, American, Texas, U.S, United States, Venezuela, Guyana, Vreed, European

☆ Canada financial regulator proposes new capital guidelines for crypto assets
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Canada's financial regulator on Wednesday proposed changes to its capital and liquidity approach to crypto-assets, citing a risky environment and in response to international banking standards. The Office of the Superintendent of Financial Institutions (OSFI)said guidelines were for federally regulated deposit-taking institutions, that includes banks and credit unions, and another for insurers, on the regulatory capital treatment of crypto-asset exposures. OSFI's Superintendent Peter Routledge said banks and insurers need clarity on how to treat crypto-asset exposures when it comes to capital and liquidity and the regulator looks to provide clarity through the new guidelines. The two draft guidelines will be open for public consultation until Sept. 20 and is expected to come into effect in early 2025. The new guidelines will replace the interim advisory on the regulatory treatment of crypto-asset exposures, published in August 2022, OSFI said.

Persons: Peter Routledge, OSFI, Nivedita Balu, Marguerita Choy Organizations: Thomson Locations: Toronto

☆ U.S. probing Exxon contractor in Guyana for smuggling drugs, gold
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +6 min

Now, U.S. officials are considering imposing sanctions on the Mohameds, according to four of the sources and two additional people familiar with the matter. The construction of the shore base is part of Exxon’s efforts to expand oil production off Guyana’s coast. The companies plan to expand output to 1.2 million bpd by 2027, a massive haul that would make Guyana’s production higher than what many OPEC nations, including neighboring Venezuela, produce today. Guyana is Exxon’s top bet for global oil production growth outside of the United States. Neither Hess nor CNOOC responded to requests for comment on the investigations into the Mohameds or the government’s meetings with Exxon.

Persons: Nazar Mohamed, Washington, Mohamed, Irfaan Ali, ”, ” Nazar Mohamed, Azruddin Mohamed, “, Alistair Routledge, Hess, CNOOC Organizations: Guyana U.S, Exxon Mobil, Reuters, Exxon, Mohamed’s Enterprise, Drug Enforcement Administration, Federal Bureau of Investigation, Department of Homeland Security, Russian, FBI, DEA, Homeland Security, U.S, Routledge, The U.S, China National Offshore Oil Corporation Locations: GEORGETOWN, Guyana, U.S, The Texas, Venezuela, United States, Europe, Georgetown, China

☆ Exxon says Guyana insurance dispute could cut revenue $350 million per month
▼ + stars: | 2023-05-19 | by ( Kiana Wilburg | ) www.reuters.com time to read: +2 min

GEORGETOWN, May 19 (Reuters) - Exxon Mobil Corp (XOM.N) on Friday said an ongoing dispute with the government of Guyana over oil-spill insurance could halt production at its first offshore platform, cutting revenue by about $350 million per month. A Guyanese court this month found Exxon in breach of insurance obligations for Liza One, its first offshore oil project, and called for additional insurance adequate to protect against a catastrophic oil spill. Exxon and partners in an offshore consortium that has produced all the country's oil to date have $600 million in insurance and up to $19 billion in assets in the country, Exxon officials said at media briefing. Exxon said that if the sides are unable to agree, it could halt output from Lisa One platform and cost about $350 million in lost revenue. Guyana would incur a hit of $80 million to $88 million to earnings from its share of production, according to the country's National Resource Fund's latest quarterly report.

☆ What’s a President to Do When a Nation’s Capital Is Sinking? Move It.
▼ + stars: | 2023-05-16 | by ( Hannah Beech | ) www.nytimes.com time to read: +38 min

A new capital city for a place with such disparities and diversity presents both a challenge and a chance for reinvention. Moving the Seat of Power From Java to Borneo Detail area Malaysia Nusantara Borneo Java Sea Indonesia Jakarta Java Indian Ocean Detail area Malaysia Nusantara Borneo Java Sea Indonesia Jakarta Java Indian Ocean Indonesia’s new capital, Nusantara, will be about 800 miles from the current capital, Jakarta. It cannot be overnight, it’s not like Aladdin comes with his genie,” said Bambang Susantono, the head of the Nusantara Capital City Authority. We have to prove that this will be a self-propelling city.” — Bambang Susantono, head of the Nusantara Capital City AuthorityCritics of I.K.N. Indonesia’s capital city faces sinking land and rising seas.

☆ The Taliban has detained a British influencer who says he travels to 'dark' and 'extreme' places for fun
▼ + stars: | 2023-04-02 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +2 min

The Taliban has detained a British man who says he likes to travel to extreme places for fun. The Taliban has not given details publicly about why they detained Routledge. Miles Routledge, 23, has posted on YouTube and Twitter about his travels in dangerous places, including in parts of Afghanistan. According to the BBC, in unrelated incidents, the Taliban also detained 53-year-old Kevin Cornwell, who is a British paramedic working for a charity. The Telegraph reported that the Taliban detained Routledge on or around March 2, alongside two Polish nationals.

☆ Three British men being held in Taliban custody in Afghanistan, Sky News reports
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: 1 min

April 1 (Reuters) - Three British men are being held in Taliban custody in Afghanistan, including so-called "danger tourist" Miles Routledge, Sky News reported on Saturday. The other two men are charity medic Kevin Cornwell and another unidentified UK national who manages a hotel in Kabul, the report said. "We are working hard to secure consular contact with British nationals detained in Afghanistan and we are supporting families," a spokesperson for Britain's Foreign, Commonwealth and Development Office (FCDO) told Reuters in a statement, but did not confirm the details of the British nationals. Routledge has gained fame, and attracted controversy, by travelling to dangerous countries and posting about it online. Reporting by Maria Ponnezhath and Rahat Sandhu in Bengaluru Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Canadian regulator takes permanent control of SVB's Canadian assets
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

March 15 (Reuters) - Canada's financial regulator said on Wednesday it had taken permanent control of the assets of Silicon Valley Bank's Canadian branch and was winding up the institution. "I took this action to effect an orderly transition of the Canadian branch of Silicon Valley Bank to the FDIC bridge bank," said Peter Routledge, superintendent of financial institutions. OSFI said an orderly, court-supervised process would allow operations of the Silicon Valley Bank unit to continue. The Canadian business is focused primarily lending to corporate clients and does not hold any commercial or individual deposits. OSFI said on Sunday said it was taking temporary control of Silicon Valley Bank's Canadian unit.

March 12 (Reuters) - A Canadian banking regulator on Sunday said it was taking temporary control of Silicon Valley Bank's (SIVB.O) unit in the country, as the fallout from the collapsed U.S. startup-focused lender reverberated around the world. "By taking temporary control of the Canadian branch of Silicon Valley Bank, we are acting to protect the rights and interests of the branch's creditors," Peter Routledge, the superintendent of financial institutions, said in a statement. OFSI said the U.S.-headquartered bank has operated in Canada since 2019 as a foreign bank branch based in Toronto. Its business in Canada is primarily lending to corporate clients, and the branch does not hold any commercial or individual deposits in Canada. The Canadian unit had C$435 million ($315.33 million) in secured loans at the end of last year, more than double the amount at the end of 2021, according to regulatory filings.

☆ Exxon set to order 5th Guyana oil vessel, sizing up more blocks
▼ + stars: | 2023-01-16 | by ( Sabrina Valle | ) www.reuters.com time to read: +4 min

The efforts would add significantly to the $30 billion committed thus far by Exxon and Guyana partners Hess Corp (HES.N) and CNOOC Ltd (0883.HK). Guyana has emerged as the world's fastest-growing oil region since Exxon made its first offshore discovery in 2015. It would be the consortium's largest and most expensive project, outstripping the $10 billion cost of the fourth project. Its oil would start flowing in 2027 and continue for 20 years, according to the Guyana government's estimate. Guyana President Mohamed Irfaan Ali visited India last week to try to entice private companies and the government to join its oil business.

Refiner Indian Oil Corp (IOC.NS) also is looking to work in Guyana in collaboration with ONGC Videsh, two people close to the talks told Reuters. Guyana is offering three deepwater and 11 shallow-water blocks, each averaging 2,000 square kilometers (722 sq miles). Exxon is considering bids on the blocks, said the company's Guyana country chief, Alistair Routledge. To bring more companies into the auction, Guyana did not restrict the amount of blocks companies can bid for, but will limit the awards to three per company. Last year, Exxon, Hess Corp (HES.N) and China's CNOOC (0883.HK) ramped up oil output and exports with their second production vessel.

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