The EU’s fiscal rules have been suspended until at least the end of 2021. When they are reinstated, they will need to be modified, if only because of the high levels of debt. Proposals have been made suggesting various changes and simplifications. The gist of most proposals is to retain the 60% debt ratio as a long-term debt anchor and a dividing line between the fiscal rules that apply for countries with debts above and below, while replacing the plethora of existing rules and procedures with an expenditure rule that allows fluctuations in the deficit driven by cyclical changes in revenue.
April 21, 2021 Credit: Wanfahmy/AdobeStock
Malaysia s Petronas has awarded the Production Sharing Contract (PSC) for the South East Collins Cluster under the newly introduced Small Field Asset (SFA) PSC terms, to Vestigo Petroleum.
The South East Collins Cluster, located in water depths of 42 to 45 meters 70km northeast of Labuan Island, comprises two fields, South East Collins and Lokan which were discovered in the 1980s. With a combined estimated recoverable of 10MMstb, the South East Collins Cluster is now primed for development under the new SFA PSC terms, Petronas said.
Petronas Senior Vice President of Malaysia Petroleum Mohamed Firouz said: The award of the cluster of fields under the much-anticipated new fiscal terms is expected to spur the development and production of more small fields in the future. The new SFA PSC is aimed at monetizing an inventory of small discovered resource opportunities available in Malaysian waters. Vestig
Nigeria: NIRSAL Beats COVID-19 Scourge, Facilitates N148 Billion Agribusiness Investment
Nigeria: NIRSAL Beats COVID-19 Scourge, Facilitates N148 Billion Agribusiness Investment
Despite the COVID-19 scourge that disrupted the global economy last year, Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) says the pandemic is not potent enough to stop its giant strides.
“In the course of the last 13 months, we facilitated the flow of over N30 billion into agricultural value chains from commercial banks and other sources. Even though our operations suffered a stall during the lockdown of 2020, our technological depth gave us a pathway to return to work while remaining safe and socially-distanced.
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This study forecasts the future of the pumps industry amidst the onset of a new wave of digitalization and the Industrial Internet of Things (IIoT). The changing market conditions influenced by demand-supply shock, oil price volatility, political tension, and shift in customer preferences are making pump manufacturers revisit their value proposition. In a mature and fragmented industry like pumps where growth from pump equipment remains in the single digit, pump OEMs have started to observe a spike in demand for aftermarket services. This spike also indicates a shift in pump OEMs role from being mere product suppliers to a thought-partner enabling end-users in their digital transformation journey to collaboratively build a connected ecosystem. The pumps market, valued at ~$38.34 billion in 2019, is expected to discover new growth opportunities by expanding its service capabilities with IIoT technologies and