CARBOTRACE, Proppant Conveyed Inflow Production Tracers Are Being Launched Globally

CARBO Ceramics Inc. partners with GEOSPLIT Middle East FZE HOUSTON, TX / ACCESSWIRE / March 1, 2023 / CARBO and GEOSPLIT announced today that the companies have entered into a strategic partnership that will enable energy operators to improve their reservoir performance by optimizing drilling & completions designs through understanding the production inflow profiling. The […]

CARBO Ceramics Inc. partners with GEOSPLIT Middle East FZE

HOUSTON, TX / ACCESSWIRE / March 1, 2023 / CARBO and GEOSPLIT announced today that the companies have entered into a strategic partnership that will enable energy operators to improve their reservoir performance by optimizing drilling & completions designs through understanding the production inflow profiling. The use of the technology reduces the overall cost of the well’s ownership, improves the carbon footprint for the well’s lifecycle, and boosts the decision-making of the E&Ps for their offset wells.

CARBOTRACE
CARBOTRACE

The agreement combines CARBO’s manufacturing, sales, and marketing expertise with the inflow production profiling capabilities of GEOSPLIT. CARBO is the market leader in proppant and proppant-delivered technologies, and GEOSPLIT is a developer of a proven long-term dynamic zonal inflow tracer technology evaluation service.

“CARBO’s portfolio of proppant delivered technologies continues to expand and provide customers with added value, enabling the most efficient completion and production strategies. CARBO has proven once more to be a technology leader in the space by creating an alliance with this Middle Eastern start-up for further geographical expansion,” said Max Nikolaev, Senior Vice President

Customers of CARBO will now be able to understand their reservoir performance through production monitoring better, marker/tracer monitoring of production inflow profiles, reservoir management, and digital oilfield services based on dynamic zonal inflow production profiling.

“Tracer-embedded coating for propping materials is one of the key solutions in our technological portfolio. Strategic partnership with Carbo Ceramics is a high recognition of technology capabilities and will allow the technology to reach out to more operators worldwide,” said Anna Belova, VP Global Business Development for GEOSPLIT.

About CARBO Ceramics Inc

CARBO® is a global technology company that provides products and services to several markets, including oil and gas, industrial, agricultural, and environmental markets, to enhance client value.

CARBO Energy – is a leading provider of market-leading technologies to create engineered production enhancements solutions that help E&P operators to design, build and optimize the frac – increasing well production and estimated ultimate recovery and lower finding and development cost per barrel of oil equivalent.

For more information, please visit www.carboceramics.com or contact Joshua Leasure, Director Technology Sales Joshua.Leasure@carboceramics.com

About GEOSPLIT

GeoSplit Middle East FZE is an international digital oilfield service company offering a tracer-based production profile surveillance technology for oil and gas wells. The GeoSplit technology portfolio provides a stream of data on the oil and gas well production pattern for years without well intervention. The data becomes a decision-making support tool and gives recommendations on addressing specific objectives of field operators and customers in such segments as hydrocarbon development, production, reservoir management, and optimization.

For more information, please visit www.geosplit.org or contact Anna Belova, VP Global Business Development a.belova@geosplit.org

Contact Information

Joshua Leasure
Director Technology Sales, CARBO
joshua.leasure@carboceramics.com
281-921-6490

Anna Belova
VP Global Business Development, GEOSPLIT MIDDLE EAST FZE
a.belova@geosplit.org
+31 611 255342

SOURCE: CARBO

Henley & Partners: Invest in Namibian Real Estate and Secure Residence Rights

LONDON, March 01, 2023 (GLOBE NEWSWIRE) — The world’s latest investment migration option — and Africa’s second — the Namibia Residence by Investment Program has been launched by Henley & Partners, the global leaders in residence and citizenship planning. The Namibian government is actively seeking foreign investment to boost the country’s economic growth and diversify […]

LONDON, March 01, 2023 (GLOBE NEWSWIRE) — The world’s latest investment migration option — and Africa’s second — the Namibia Residence by Investment Program has been launched by Henley & Partners, the global leaders in residence and citizenship planning.

The Namibian government is actively seeking foreign investment to boost the country’s economic growth and diversify the economy. The program provides numerous opportunities for international investors seeking a foothold and growth on the African continent, including tax incentives, financing, and a one-stop bureau service for international companies. For a minimum real estate investment of USD 316,000 in the new luxury golf and eco-friendly President’s Links Estate in Walvis Bay, successful investors will receive a five-year, renewable work permit which gives them the right to live, do business, and study in Namibia.

Group Head of Private Clients at Henley & Partners, Dominic Volek, says, “We are delighted to announce this innovative new residence by investment offering in Africa. Namibia’s stunning landscape, attractive tax system, and business-friendly environment make it an ideal option for international entrepreneurs, high-net-worth individuals, or retirees. There are fewer than 600 real estate units available in this exclusive coastal estate that qualifies for residence, so investors need to move quickly if they want to take advantage of this limited opportunity to secure residence rights in one of the most nature- and wildlife rich countries in the world.”

One of Africa’s fastest growing private wealth markets

The total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next 10 years, according to the Africa Wealth Report, published by Henley & Partners in partnership with New World Wealth. Namibia is expected to be one of Africa’s fastest growing markets going forward, with high-net-worth individual (those with wealth of USD 1 million or more) growth of over 60% forecast for the next decade (until 2032). According to New World Wealth’s December 2022 statistics, Namibia holds USD 26 billion in total investable wealth. The average wealth of a resident of Namibia (wealth per capita) is USD 10,050, ranking as the third highest in Africa after Mauritius and South Africa. The nation is home to around 2,100 high-net-worth individuals and three centi-millionaires (with wealth of USD 100 million or more).

To attract inward investment, the government has made major improvements to its tax system in recent years. Namibia operates a source-based tax system, which means that foreign residents are generally only taxed on the income they generate in the country. What is more, tax rates are relatively competitive compared with many other emerging markets and particularly with neighboring countries such as South Africa. The top rate of income tax in Namibia is a modest 37%, but perhaps most notably there are no capital gains, estate, gift, inheritance, or net wealth/worth taxes.

Unprecedented interest in domicile diversification

Currently, the President’s Links Estate is the only investment route for the Namibia Residence by Investment Program. Group Head of Real Estate at Henley & Partners, Thomas Scott, says international real estate has always been a reliable asset class for global investors due to its long-term staying power. “Real estate–linked investment migration programs such as the offering in Namibia have the additional advantages of enhancing your global mobility and expanding your personal access rights as a resident or citizen of additional jurisdictions, creating optionality in terms of where you and your family can live, work, study, retire, and invest. The potential gains over the lifetime of this investment include the core value of the asset, rental yields, and global access as an ultimate hedge against both regional and global volatility.”

Volek points out that there has been significant and ongoing growth in the demand for residence and citizenship by investment options over the past few years. “The appeal of investment migration for affluent families is truly universal due to its many benefits, ranging from domicile diversification to global mobility enhancement, to accessing world-class education and healthcare, to having a plan B in times of turmoil. No matter where you were born, or where you currently reside, wealthy investors can futureproof themselves and their families for whatever might lie ahead through investment migration options such as the new Namibia Residence by Investment Program.”

Media Contact

Sarah Nicklin
Group Head of PR
sarah.nicklin@henleyglobal.com
Mobile: +27 72 464 8965

GlobeNewswire Distribution ID 1000795319

Govt Discontinues Electricity Subsidy for Farmers Under Kissan Package

The federal government has discontinued the Rs. 3.60/kwh subsidy to private agriculture from March 1, 2023, under the Kissan Package.According to the Ministry of Energy, the Cabinet on February 28, 2023, approved the Power Division summary with regard …

The federal government has discontinued the Rs. 3.60/kwh subsidy to private agriculture from March 1, 2023, under the Kissan Package.

According to the Ministry of Energy, the Cabinet on February 28, 2023, approved the Power Division summary with regard to the implementation of the Revised circular Debt Management Plan.

The Power Division had requested the Cabinet to discontinue the Rs. 3.60/kwh subsidy to private agriculture from March 1, 2023, under the Kissan Package.

“Federal Cabinet vide above referred has approved the discontinuation of Kissan Package for Base rate relief of Rs. 3.60/kwh to private agriculture from March 1, 2023,” the letter stated.

It is pertinent to mention here that the IMF has asked the government of Pakistan to discontinue subsidies for farmers subsequently, and the government in the revised circular debt management plan gave assurance to withdraw the subsidy.

As per the details, the government had approved a Rs. 14 billion subsidy for the agriculture sector under the Kissan package.

Source: Pro Pakistani

ECC Approves Rs. 5 billion Ramzan Relief Package

The Economic Coordination Committee approved a Ramzan Relief Package for Utility Stores Corporation-2023, worth Rs. 5 billion, in a meeting chaired by Finance Minister Ishaq Dar.The Ministry of Industries and Production submitted a summary of the packa…

The Economic Coordination Committee approved a Ramzan Relief Package for Utility Stores Corporation-2023, worth Rs. 5 billion, in a meeting chaired by Finance Minister Ishaq Dar.

The Ministry of Industries and Production submitted a summary of the package, which was discussed by the ECC and approved.

The package includes a hybrid model of targeted and untargeted relief consisting of 19 items for Utility Stores Corporation.

Sources told ProPakistani that the government will provide targeted subsidies to people registered under the Benazir Income Support Program.

The government has allocated Rs. 1.15 billion for targeted subsidies, which will be given on Rs. 100 per kg of ghee, Rs. 100 per kg on tea, Rs. 51 per kg on flour, Rs. 30 each on sugar, milk, and beverages, Rs. 25 per kg on dates, and Rs. 50 on gram flour.

On the other hand, the government has allocated Rs. 3.84 billion for untargeted subsidies on the above-mentioned items. Meanwhile, the government has also set aside Rs. 14 million for media coverage.

The ECC considered a summary tabled by the Ministry of National Food Security and Research regarding the procurement price of wheat crop 2022-23. After detailed discussions, the ECC approved a uniform procurement price of wheat crop 2022-23 at Rs. 3,900 per 40 kg.

The Ministry of Industries and Production presented a report on the logistic plan of PASSCO for in-land transportation of imported wheat 2022-23. The ECC considered and noted the report.

The ECC considered a summary submitted by the Ministry of Maritime Affairs and approved the Karachi Port Trust (KPT) Board Resolution regarding waiving off all the charges of storage on the stuck-up containers/cargo landed help up at Karachi Port as a result of non-retirement of Letter of Credits and remittances of Foreign Exchange subject to the condition that demurrages charges on each case beyond Rs. 5 million will be waived off after getting certification from SBP.

The ECC further directed to submit a report on the magnitude and amount of cleared consignments on monthly basis.

Ministry of Energy ( Power Division ) submitted a summary on Uniform Tariff for K-Electric at par with XWDICSOS 2nd Quarter 2021-22. The ECC after discussion approved tariff rationalization for K-electric by way of adjustments on the consumption from July 2022 to September 2022 and to recover from consumers from March 2023 to May 2023 respectively.

The ECC considered another summary of the Ministry of Energy ( Power Division) on uniform tariff for K-Electric at par with XWDISCOS 1st Quarter 2022-23 and allowed tariff rationalization by way of adjustments for K-electric on the consumption of Feb-23 to March-23 and to recover from consumers in March-2023 to April 2023, respectively.

The ECC also considered another summary of the Ministry of Energy ( Power Division ) and approved the proposal regarding the enhancement of surcharge for the financial year FY24 to cover federal government obligations towards power producers.

Further, these surcharges for FY 24 will also be applied to K-Electric consumers to maintain uniform tariffs across the country.

The ECC also approved the following Technical Supplementary Grants/Supplementary Grants:

1. Rs. 200 Million in favor of the Ministry of Housing and Works for the execution of development schemes- road from Lalmosa to Noona Wali Bhago and Malwana with link infrastructure Tehsil Kharian.

2. Rs. 429.436 million in favor of the Ministry of Housing and Works for development schemes of district Kasur.

3. Rs. 702.9 million in favor of the Ministry of Housing and Works for the execution of schemes in Punjab province under the sustainable development goals achievement program.

4. Rs. 12 million in favor of the Ministry of Interior for the National program for Improvement of Watercourses Phase-II in ICT.

5. Rs. 20 million in favor of the Ministry of Interior for a National program for enhancement command areas in Barani areas of ICT.

6. Rs. 1112.04 million in favor of the Ministry of Interior for project implementation letter of HQ FC( South) & HQ FC (North) KP funde

Source: Pro Pakistani

PSO, Shell and Attock Suffer as Petroleum Sales in Pakistan Take a Massive Dip

Pakistan’s petroleum sales witnessed a significant decline of 21 percent on a year-over-year (YoY) basis to stand at 1.22 million tons during February 2023 compared to 1.54 million tons during February 2022.The total sales volume in July-February 2022-…

Pakistan’s petroleum sales witnessed a significant decline of 21 percent on a year-over-year (YoY) basis to stand at 1.22 million tons during February 2023 compared to 1.54 million tons during February 2022.

The total sales volume in July-February 2022-23 (8MFY23) declined by 19 percent YoY to reach 11.69 million tons, according to data by Arif Habib Limited (AHL).

Furnace Oil (FO) sales plummeted by 47 percent YoY, while High-Speed Diesel (HSD) offtake slid by 19 percent on a YoY basis in September. The sales of Motor Spirit (MS) also witnessed a decline of 15 percent YoY.

On a month-over-month (MoM) basis, the overall fuel sales showed a decline of 16 percent.

8-Month Figures

During the eight months of the financial year 2022-23 (FY23), MS petrol sales witnessed a decline of 15 percent YoY, reaching 5.03 million tons. HSD sales suffered the second biggest blow with a decline of 22 percent on a YoY basis, while FO sails slid by 28 percent YoY.

Company-Wise Sales

The company-wise analysis shows that Pakistan State Oil (PSO) sales declined by 19 percent YoY in February 2023. Under the government-run entity, MS sales witnessed a decline of 19 percent YoY, reaching 0.26 million tons. HSD sales declined by 13 percent on a YoY basis, while FO sales collapsed by 82 percent YoY. Meanwhile, the overall sales volume under PSO during 8MFY23 declined by 18 percent YoY to 5.95 million tons.

Sales under Attock Petroleum Ltd. (APL) registered a significant decline of 23 percent on a YoY basis in February 2023 on the back of decreased FO, HSD, and MS sales by 46 percent, 19 percent, and 15 percent, respectively. During July-February FY23, overall sales took a 20 percent hit amid stunted offtake of MS, HSD, and FO.

Shell’s offtake declined by 18 percent YoY in February 2023 as the sales of HSD and MS dipped by 27 percent and 14 percent, respectively. For 8MFY23, overall offtake dropped by 21 percent YoY on the back of low MS and HSD sales.

Conversely, HASCOL’s sales increased by 5 percent on a YoY basis. During the period in review, MS sales witnessed an increase of 5 percent YoY, reaching 0.02 million tons, while HSD sales showed a 6 percent YoY growth. The company’s sales dropped by 4 percent YoY to 0.21 million tons for the eight months that ended on February 28th, 2022-23.

Source: Pro Pakistani