Whether there is war or peace in Iraq, whether the country holds together or falls apart, the oil will flow. If you want to take a flyer on your own little piece of the future of Iraqi oil, the stock to buy is probably Genel Energy. The company has the highest production volumes and arguably the best oilfield assets in the Kurdish Region of Iraq. And its prospects are protected not just by the loyal peshmerga forces of the Kurdish Regional Government, but also by a robust safety net of international business giants.
Genel’s big backers are banking scion Nathaniel Rothschild and Turkish billionaire Mehmet Emin Karamehmet. The company’s CEO is Tony Hayward, the former head of
, who also happens to be chairman of commodities giant
Glencore PLC. Genel’s CFO used to be the head of U.K. investment banking
for Goldman Sachs.
With pull like that, no wonder Genel has plunged into developing
virgin oilfields in the region despite insistence from Iraq’s oil
ministry in Baghdad that their contracts with the KRG are illegal.
In an operational update released last week, Genel says that its net
oil production has doubled in the past year to a current 84,000 barrels
per day. Most of that comes from two world-class fields. Taq Taq, in
which Genel has a 44% interest, is currently producing 113,000 bpd.
While Tawke (25% Genel interest) is doing 116,000 bpd.
When these fields first came on line Genel and its partners had
no option but to haul the oil to market; tanker trucks eventually
carried 70,000 bpd of oil from Taq Taq over the border into Turkey,
according to Genel. But now, with the completion of a pipeline between
the Kurdish region and Turkey’s port of Ceyhan, exports have been
A couple weeks ago the KRG even found a buyer for one of its first
ocean cargoes, offloading the oil in Israel. Genel indicated in its
update that some of its oil was among the cargo — “Proceeds from the
first cargo, sold at international prices, have been paid into a bank
account in Turkey controlled by the Kurdistan Regional Government.”
Baghdad’s already tenuous influence on the KRG is now all but
completely severed. Oil revenues are vital to the Kurds’ ambitions of
creating an independent state. Genel and its partners and peers
(including Gulf Keystone, DNO International, Afren, Hunt Oil, Sinopec
and Oryx Petroleum) are expected to increase the flow of oil from the
Kurdish region to 400,000 bpd by the end of the year.
For its part, Genel expects $550 million in revenue this year, up
from $350 million last year. It will lay out more than $500 million in
capital spending, financed in part by a $500 million sale of unsecured
bonds in May.
The origin of Genel goes back to billionaire Mehmet Emin Karamehmet, chairman of Cukurova Holdings. He and Genel president Mehmet Sepil
have deep connections with the Kurds, having negotiated with them for
rights to explore northern oil prospects even before the fall of Saddam
Nat Rothschild, 42, is the only son of Jacob Rothschild, the head of
the famed family’s London-based branch. Having built up his experience
in investment banking and hedge fund management, Rothschild in 2011
joined with Tony Hayward to raise $2 billion in the IPO of a blank-check
shell company called Vallares with the intent of buying up oil assets.
In 2011 Vallares and Genel entered into a 50/50 all-stock merger. In
addition to Iraqi oil, Rothschild (among many interests) is also deeply
invested in Indonesian coal through mining company Bumi as well as
Russian aluminum, through his investment in billionaire Oleg Deripaska’sUC Rusal
The biggest owners of Genel shares continue to be Karamehmet’s Focus
Investments (72 million shares), Sepil’s Elysion Energy Holding (38
million shares), and Rothschild (22 million). Genel has about 280
million shares outstanding and a market cap of 2.75 billion pounds
sterling, or about $4.7 billion. Shares are up about 50% in the past two
years but down nearly 6% in the past month.
Credit Suisse analyst Thomas Adolff has rosy expectations for Genel’s
future. He sees revenue surpassing $1 billion in 2016 and pre-tax
profit jumping from $240 million this year to more than $400 million in
2016. His target price for Genel shares is 1,330 GBp, about 33% higher
than where they trade today.
This subject matter can be overwhelming. It is not unlike going down a rabbit hole. Deborah Tavares came to light revealing Silent Weapons for Quiet Wars which is a document that outlines a strategy of totalitarianism. Research the subject and decide for yourself. I found Deborah an honest citizen highly concerned.
Silent Weapons for Quiet Wars pdf link: http://www.stopthecrime.net/docs/SILENT%20WEAPONS%20for%20QUIET%20WARS.pdf
The municipality of Melbourne covers 37.5 square kilometers. The residential population of the city proper is only about 105,000. However, the metropolitan region is home to roughly 4 million people. Unlike many other cities around the world, Melbourne City Council has limited mayoral powers. Transport, energy and water systems are all managed by various government and non-governmental bodies. The city is located in a region prone to extreme weather events, is likely to experience significant climate change impacts and has many upstream dependencies. The city has undertaken significant work to enhance its resilience, including developing adaptation strategies and plans, establishing networks, developing emergency management plans and undertaking risk assessments. Despite progress, significant opportunities remain to enhance Melbourne’s resilience, particularly through more carefully coordinated efforts.
SHOCKS AND STRESSES
Coastal / Tidal Flooding
Declining Population / Human Capital Flight
Lack of Affordable Housing
Sea Level Rise / Coastal Erosion
Meet The Chief Resilience Officer (Melbourne)
Toby Kent has created and implemented resilience and sustainability strategies across a range of sectors. Since the late 1990s he has worked with governments, communities, industry sectors, and many other stakeholders on five continents.
Various achievements include: helping to guide the growth of Corporate Citizenship, one of the UK’s preeminent specialist Sustainability consultancies; leading PricewaterhouseCoopers’ Sustainability work with retail and consumer goods companies in the UK; and running PwC’s Sustainability & Climate Change team in Hong Kong.
Prior to joining the City Of Melbourne, he worked with leading Melbourne businesses, including MMG mining corporation and ANZ bank, where he was Head of Sustainable Development.
Toby has a Masters degree in Urbanisation (Housing and Social Change) from the London School of Economics.
What Is The 100 Resilient Cities Platform of Partners?
100 Resilient Cities was created in part to help solve two key problems:
Cities are complex ecosystems, resistant to change and made up of a myriad group of systems and actors; and
Existing solutions aren’t scaling or are not being shared more broadly. In other words, cities constantly find themselves reinventing the wheel.
Our Platform of Partners, one of the four key offerings we provide our cities, is designed to help address the second problem. Through our Platform Partners, 100 Resilient Cities provides member cities with access to a curated suite of resilience-building tools and services supplied by a carefully selected platform of partners from the private, public, academic, and non-profit sectors.
The Platform and our Platform Partners are a way to leverage resources beyond the $100+ million commitment that the Rockefeller Foundation initially made when it pioneered 100 Resilient Cities as part of its centennial commitment to urban resilience. The catalogue includes tools and services that cities might not otherwise be able to access for a number of reasons, such as affordability, not knowing that the tool existed, or not understanding that it could be applied to address their unique city needs.
The tools and services we have on our platform can help educate our cities and can facilitate the planning and implementation of their strategy process. For example, we have tools that aggregate, evaluate and integrate big data into decision making; encourage stakeholder engagement; assess risk exposure to hazards; monitor and protect water resources; design resilient urban infrastructure and environments; identify opportunities for operational efficiency and provide education around the concept of resilience.
City resilience will improve, the marketplace will produce better tools, and the global practice of resilience will advance.
How does it work?
Cities surface unmet resilience-building needs during a six-to-nine-month Strategy development process, and 100RC matches those needs with the capabilities of our Platform Partners.
Although it won’t address all of our cities’ resilience-building needs, the Platform’s purpose is to help cities identify some of the tools and services they can use that have worked elsewhere. With the support of the Platform, cities can address many of their current resilience needs and begin to build the capacity to continue working on their resilience building into the future.
Helping individual cities isn’t the only goal. By introducing these world-class actors to cities, we are facilitating a process by which the cities themselves help inform the market place. Once they understand what cities need, these private sector, NGOs, and publicly funded partners can begin building new tools and improving old ones – tools that will be available to all cities.
Through our Platform, cities will become more resilient, the marketplace will produce better tools, and the global practice of resilience will advance ever further.
100 Resilient Cities is adding new member cities to our global network through partnerships with local entities that provide financial support for the work.These cities are full network members with all benefits and services, following our globally tested methodology to improve urban resilience. Successful candidates for sponsored membership in the 100RC network will be partnerships between cities and individual, philanthropic, institutional or corporate funders.
If you are interested in joining the network, or sponsoring a city to join the network, please complete the form for initial information below. Due to the high volume of interest we receive, 100RC may not be able to respond to every inquiry.
Our Approach to Measuring and Evaluating Impact
We capture learnings and track impact in three ways. When combined, we hope the resulting lessons and insights will help advance the work of urban resilience practitioners around the world.
External researchers: The Urban Institute and a series of global partners are conducting an external evaluation of our partnerships with cities and industry leaders over the next five years.
Internal Monitoring: Regular tracking of program activities and outcomes helps us drive toward success and course correct when there are important lessons to apply to our program and partnerships.
City Reporting: Regular reporting directly from our cities allows us to identify regional and other trends, learn together, and apply cities’ experiences of success and challenges.
As more and more cities take action to implement a range of initiatives and projects in their Resilience Strategies, it makes sense to consider how major disruptive trends are shaping infrastructure delivery and impacting resilience investment choices. Technology is reshaping the infrastructure landscape in multiple ways, changing both asset class attractiveness and the way things are built.
However, all of this technology disruption is taking place against the backdrop of a persistent, massive infrastructure investment gap exacerbated by increasingly stressed public balance sheets. The good news is that the $120 trillion in assets under management by private investors could help plug this gap—but right now this isn’t happening. Currently, there is a lack of bankable projects that are attractive enough to private investors.
So what can be done and what does this mean for cities? Public funding alone clearly will not suffice for their infrastructure investment needs, and cities are considering new approaches to attracting private capital. One compelling way forward is to foster well-structured project development processes and internal capabilities designed to improve project bankability and attract the investment dollars they need. Bridging the funding gap requires action from both the private and public sectors: the regulatory environment and public sector capabilities to monitor and manage infrastructure delivery are often keys to success.
There are several levers for improvement that cities can consider in order to make projects more bankable. Proven actions include:
Market creation: for example, by adopting P3 legislation and pursuing a regulatory environment that helps attract private capital, building a track record through small pilot projects, benchmarking against peers and addressing shortcomings, and fostering a vibrant secondary market for infrastructure assets.
Enabling business planning, for example, by providing a transparent roadmap of key regulatory and permitting requirements, adopting widely used revenue model components and addressing financial risks, and assembling a complementary advisory team.
Addressing technical and project delivery by implementing standardized frameworks for contracting, adopting performance-based procurement rather than forcing design and technology choices, and adopting flexible local requirements.
Enhancing stakeholder engagement through implementing a plan for targeting, sequencing, and delivering outreach to key stakeholders (investors, development partners, community representatives) so as to reduce overall political risk.
To this end cities can consider a number of factors to make projects more bankable, across six dimensions: the PPP environment, technology risks, commercial viability, the regulatory environment, construction risks, and political and currency risk.
Examples of best practices can help highlight what can work when cities innovate and invest in building transparent pipelines of bankable projects, as some of the projects featured at The 2019 Urban Resilience Summit underscored. Two such projects showcased during the Urban Infrastructure Marketplace. The High Capacity Metro Transport Route in Pune, India and Resilient Kindergartens projects in Tbilisi, Georgia demonstrate the power of early stage support in advancing infrastructure projects along the project cycle.
Sustainable projects will add trillions to the world’s infrastructure costs as cities seek to ensure that transport and energy networks, waste and water facilities will be climate resilient, socially inclusive, and contribute to reducing carbon emissions. Success is reliant on attracting private-sector investors to find new ways to bridge the investment gap, which in turn will depend on concerted action from the public, private sector, and multilateral development agencies. We were excited to be a part of this dialogue as the 2019 Summit’s Innovator Partner, and are optimistic about the ideas exchanged that could shape the future of sustainable, resilient infrastructure in cities.
 63 percent of the infrastructure need will be in emerging economies: Jonathan Woetzel, Nicklas Garemo, Jan Mischke, Priyanka Kamra, and Robert Palter, Bridging infrastructure gaps: Has the world made progress? MGI, October 2017, McKinsey.com.
 Dominic Barton, Bridging the infrastructure gap, Project Syndicate/MGI, June 14, 2016, McKinsey.com.
Jonathan Woetzel is Director, McKinsey Global Institute and Aaron Bielenberg is Expert Associate Partner, McKinsey & Company.
I received this in my inbox. It is a subject in the public interest and during Child Protection Week here in Australia.
Self interest, political affiliation, power or status does not precede the safety of children. Every adult is responsible for the safety of children. It is not acceptable for any person abusing children to be protected under parliamentary privilege or in the confessional. The child’s interests must come first and this is definitely the public interest.
A child goes through their lives not in harmony, feeling terrified, traumatised and suffering all sort of health effects as a result of abuse. This impacts the community as a ripple in the sea. The child loses trust and spends the whole life trying to heal and gain closure. This impacts others as their behaviour, sorrow, challenges are projected outward.
I am going to sit still for a moment and contemplate child abuse and pedophilia. I will write as I feel.
Power, imbalance, dysfunction, sexual fantasy, destroying the child within ‘projected outward’. Lust for power, inviting dark forces as the person feels they have no power and want power. Power corrupts absolute power corrupts absolutely. Sexual imbalance devoid of love. Use the word love to manipulate but true love wants nothing, gives all. Individuals are detached, disconnected from their humanity as partitions, disassociative, psychopath (no emotions), sees the world like pictures in boxes, shut down feeling through physical sensations and rush of power. Objectivise child through ritual to justify harm. Convince themselves that this is ‘normal’ that this is necessary (like war), craete a fantasy around the ritual. It is illusion to the nth degree, not 33 degrees
Chantelle survived abuse from convicted paedophile and child-killer Michael Guider. Now, he’s set to walk free within days despite being ‘high risk’ for reoffending. susan, will you join 185,780 calling to make it harder for child-killers to walk free?
I was drugged, abused and photographed as a child by a man who was my babysitter. The monster that did this to me was charged with over 60 counts of child abuse related crimes against many victims. His name was Michael Guider.
While in prison for these crimes he admitted to and was convicted of the killing of Bondi schoolgirl Samantha Knight. Guider has never admitted to the location of Samantha’s body, robbing her family of any sense of closure.
Now, Michael Guider is due to be released from prison and will walk free without having to reveal the location of Samantha’s body. I think that’s appalling.
In the news, and every time I open up my Facebook, I am constantly faced with headline that reads “pedophile released into community” along with a long and horrific list of their crimes against children!!
Enough is enough!
We will change one law at a time to ensure NO pedophile or child killer is released!
That’s why I am fighting to stop the release of Michael Guider, and any other child killer, who won’t give the victims families closure by providing them Samantha’s body to lay to rest. I believe any child killer who is convicted, either of the murder or manslaughter of a child, should never be allowed freedom if they withhold the location of where they dumped the body of their victim.
I want to pass this law to honour Samantha Knight by calling it Knights Law. Let’s keep child killers out of our community and behind bars where they belong. In the case of child killers, there should be no question.
No body, no release.
Please, sign my petition and share it widely. Thank you.
Introduction to What C60 molecule is and what people are reporting subsequent to taking C60 in Olive Oil. Please feel free to post any research good and bad for constructive discussion. All Spam and conspiracy nonesense will be removed. www.thec60company.com Europe’s No.1 C60 Brand Material on this youtube video, including text and images, is protected by copyright. It may not be copied, reproduced, republished, downloaded, posted, broadcast or transmitted in any way except for your own personal, non-commercial use. Prior written consent of the copyright holder must be obtained for any other use of material. Copyright in all materials and/or works comprising or contained within this video remains with Carbon 60 Research UK Ltd and other copyright owner(s) as specified. No part of this video site may be distributed or copied for any commercial purpose.