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U.S. shale output forecast to hit record 8.46 million bpd in May: EIA

FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland
FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo

April 15, 2019

NEW YORK (Reuters) – U.S. crude oil output from seven major shale formations is expected to rise by about 80,000 barrels per day (bpd) in May to a record 8.46 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday.

The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 42,000 bpd to a fresh peak of about 4.14 million bpd in May.

In North Dakota’s Bakken region, shale production is estimated to rise by about 11,000 bpd to about 1.39 million bpd, easing from a record 1.41 million bpd hit in January. In the Eagle Ford region, output is expected to edge higher by 7,000 bpd to about 1.43 million bpd, which would be the highest monthly output since January 2016.

Production growth in the Permian and other key shale basins have slowed as oil prices fell in the fourth quarter and several shale companies cut spending in the face of investor pressure to focus on earnings growth instead of increased output.

Prices have since rebounded this year, but drillers are expected to remain cautious. Having slashed spending plans and run out of willing buyers for assets, some U.S. shale producers are turning to workforce cuts as investors step up demands for returns.

However, major oil companies are boosting their presence, particularly in the Permian, the largest U.S. shale oil field.

The U.S. rig count, an early indicator of future output, rose for a second week in a row last week and remains higher than a year ago.

(Reporting by Devika Krishna Kumar in New York; Editing by Chizu Nomiyama and Marguerita Choy)

Source: OANN

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Golf: Holder Casey and American Cook share Valspar lead

PGA: Valspar Championship - Second Round
Mar 22, 2019; Palm Harbor, FL, USA; Paul Casey plays his shot from the 15th tee during the second round of the Valspar Championship golf tournament at Innisbrook Resort - Copperhead Course. Mandatory Credit: Jasen Vinlove-USA TODAY Sports

March 22, 2019

(Reuters) – Early starters Paul Casey and Austin Cook survived after a costly finish by one-time leader Luke Donald to earn a one-stroke advantage in Florida’s Valspar Championship on Friday.

Englishman Casey, the defending champion, shot 66 and American Cook 67 to hold onto the joint lead on six-under 136 after the second round at Palm Harbor, Florida.

Donald, who played behind compatriot Casey and Cook, had taken a one-shot lead with four holes to play but two bogeys coming home left him in a three-way tie for third after a scrambling one-under 70.

Level with the former world number one at 137 were American Scott Stallings (68) and South Korea’s Im Sung-jae (67).

Lurking another shot back was top-ranked Dustin Johnson, whose second consecutive 69 left the American in a three-way tie for sixth with Australian Curtis Luck (68) and first-round co-leader Joel Dahmen (72).

Casey put together an eagle, four birdies and a bogey at his last hole, the ninth, before the Florida breezes kicked up and the greens became more tricky.

“I’ve never (successfully) defended a professional event,” he told Golf Channel.

“I think mentally last year I was sort of hoping, obviously hoping, I would win, wanting to win. This year, knowing that I have won around here, I have just a slightly different approach to it.”

Cook turned to a new putter and liked the results as he recorded five birdies and a bogey.

“Something as simple as changing a putter can make a big difference sometimes,” he told PGA Tour Radio.

Scot Russell Knox, tied for third after the first round, barely made the cut after soaring from a 67 on Thursday to a 76 in windy conditions on Friday.

Australian Jason Day did fall over the cut line of plus one as the world number 12’s 71 was not enough to overcome an opening 74 as he ended play at three-over par.

(Reporting by Gene Cherry in Raleigh, North Carolina; Editing by Ken Ferris)

Source: OANN

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Sri Lanka Attacks Were Response to NZ Mosque Massacre

In an address to the nation’s parliament, Sri Lanka’s Defense Minister said that the Islamic terror attacks on luxury hotels and churches which killed nearly 300 people and injured hundreds more were a response to the New Zealand mosque shooting.

“Investigations reveal that this attack was carried out in response to the Christchurch Mosque Attack in New Zealand on Muslims. There was a security lapse leading to this devastation in Sri Lanka,” said Ruwan Wijewardene.

The defense minister confirmed that two domestic Islamist terror groups were responsible for the bloodshed.

50 people were killed and 50 injured when a 28-year-old Australian white supremacist attacked two mosques in Christchurch, New Zealand on March 15.

Quite how murdering hundreds of Christians in a totally different country is a legitimate response to the actions of a single lunatic in New Zealand remains unknown.

As we previously highlighted, while world leaders were quick to offer condolences to the “Muslim community” following the mosque attack, many of them appear afraid to even use the word “Christians” when discussing the Sri Lanka attack.

Meanwhile, the media has once again made the issue about the reaction of the “far-right” and not the fact that Christians are the most persecuted and killed religious group on the planet.

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Source: InfoWars

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Workers help Nepal storm displaced with food, shelter

Government workers and private volunteers are providing food, tents and clothing to the thousands of people in southern Nepal who lost their homes and belongings in a weekend storm.

Police officers and soldiers were helping dig through debris Tuesday to help the victims salvage what was left of their belongings and the victims were asking the government for help to rebuild their homes and farms.

The Sunday night wind and rain storm left 28 people dead and hundreds injured. Police said most of the deaths were caused by collapsing walls and falling bricks in homes and toppled trees and electrical poles.

The area is about 120 kilometers (75 miles) south of the capital, Kathmandu.

Source: Fox News World

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BlackRock makes two new investment stewardship hires: sources

FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the NYSE
FILE PHOTO: The company logo for BlackRock is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo

March 25, 2019

By Jessica DiNapoli and Svea Herbst-Bayliss

(Reuters) – BlackRock Inc, the world’s largest asset manager, has hired Tanya Levy-Odom and Shannon Nelson for its investment stewardship team that engages with companies on corporate governance, according to their LinkedIn profiles and sources with knowledge of the moves.

The team has emerged as one of the most influential forces in corporate America, given BlackRock’s standing as a top shareholder in most big companies. It has been driving change behind the scenes on how companies run themselves and how they handle environmental, social and governance issues.

Levy-Odom has joined BlackRock as a director from strategic advisory and communications firm Rose & Company, according to her LinkedIn profile. She also worked in investor relations at Meredith Corp and in equity research at asset manager AllianceBernstein Holding LP, according to her profile.

Nelson joined the asset manager as a vice president, according to her LinkedIn profile. She formerly worked at BlackRock as an associate in institutional sales, maintaining relationships with investors such as public and private pension plans, according to her LinkedIn profile. She also worked at the Federal Reserve Bank of New York, according to her profile.

Sources familiar with the hirings who requested anonymity to discuss personnel issues confirmed the hires. BlackRock declined to comment.

Several executives have departed BlackRock recently, with James Hamilton moving to shareholder advisory firm PJT Camberview to work on governance matters, and Peter da Silva Vint joining investment bank Moelis & Co in its shareholder defense practice.

Zach Oleksiuk, the former leader of BlackRock’s investment stewardship team in the Americas, now works for investment bank Evercore Inc. Ray Cameron replaced him last year, reporting to global stewardship head Michelle Edkins.

Corporate boards are increasingly in the spotlight as activist hedge funds targeting governance issues grow in influence and social matters such as the #MeToo movement and Black Lives Matter put directors in the hot seat.

(Reporting by Jessica DiNapoli in New York and Svea Herbst-Bayliss in Boston; Editing by Susan Thomas and Paul Simao)

Source: OANN

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Stock futures point to flat Wall Street open as earnings roll in

Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid

April 23, 2019

By Sruthi Shankar

(Reuters) – U.S. stock index futures pointed to a subdued opening on Wall Street on Tuesday, as investors parsed through a fresh batch of reports from Coca-Cola, Twitter and a handful of industrial companies.

Stock markets across the globe were listless as European markets reopened after a four-day Easter break only to be supported by gaining energy shares, spurred by oil prices near six-month highs. [O/R]

About a third of the S&P 500 companies including Boeing Co and Facebook Inc are scheduled to report this week, making it the busiest period this reporting season.

With Wall Street’s main indexes struggling to make headway, even as they hover below record levels, investors are waiting to see if results from major companies ease concerns about earnings recession.

Profits at S&P 500 companies are expected to decline 1.7% in the first quarter, in what could be the first earnings contraction since 2016. However, the forecasts have improved slightly since the start of April.

“It’s still expected to be a challenging quarter for the corporates, but the bar has been sufficiently lowered which may allow them to get through the season relatively unscathed,” Craig Erlam, senior market analyst at Oanda, said.

“The lack of direction at the start of the week isn’t surprising given the quiet bank holiday weekend.”

Trading volume has been at its lowest so far in 2019.

At 7:17 a.m. ET, Dow e-minis were up 16 points, or 0.06%. S&P 500 e-minis were down 2 points, or 0.07% and Nasdaq 100 e-minis were down 7.75 points, or 0.1%.

Among the major names that have reported, Coca-Cola Co was up 3.5% after quarterly sales beat analysts’ estimates, while Twitter Inc gained 6.8% after the social media company reported a surprise rise in the number of monthly active users.

Dow component United Technologies Corp gained 2.8% after reporting a higher-than-expected quarterly profit, boosted by robust demand for aircraft parts.

Lyft Inc’s shares rose 2.7% as multiple underwriters started coverage of the ride-hailing firm on an upbeat note.

Economic data due at 10:00 a.m. ET is expected to show sales of new U.S. single-family homes dropped to a seasonally adjusted annual rate of 650,000 units in March, from 667,000 units in February.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)

Source: OANN

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Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of
Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. REUTERS/Mike Blake

April 26, 2019

LOS ANGELES (Reuters) – Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said.

Global ticket sales for the film about Iron Man, Hulk and other popular characters reached $305 million for the first two days, Disney said.

(Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

Source: OANN

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Funeral of journalist Lyra McKee in Belfast
Labour Party leader Jeremy Corbyn attends the funeral service for murdered journalist Lyra McKee at St Anne’s Cathedral in Belfast, Northern Ireland April 24, 2019. Brian Lawless/Pool via REUTERS

April 26, 2019

LONDON (Reuters) – The leader of Britain’s opposition Labour Party, Jeremy Corbyn, said on Friday he had turned down an invitation to a state dinner which will be part of U.S. President Donald Trump’s visit to Britain in June.

“Theresa May should not be rolling out the red carpet for a state visit to honor a president who rips up vital international treaties, backs climate change denial and uses racist and misogynist rhetoric,” Corbyn said in a statement.

He said maintaining the relationship with the United States did not require “the pomp and ceremony of a state visit” and he said he would welcome a meeting with Trump “to discuss all matters of interest.”

(Reporting by Andy Bruce; Writing by William Schomberg)

Source: OANN

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A bedridden 67-year-old woman and more than a dozen animals were rescued Thursday after a welfare check found that they were living in a home filled with trash, urine, and feces, Florida police said.

Pinellas County sheriff’s deputies said when they arrived at the home in Dunedin around 7:20 p.m. Thursday, they could smell the odor of rotting trash and animal feces as they walked up to the driveway.

“Inside the residence, the odor of feces and urine was so overwhelming that deputies had to don masks,” the sheriff’s department said in a statement.

FLORIDA SHERIFF ON BORDER CRISIS AFTER MAJOR DRUG BUST: ‘IT MAKES ME ABSOLUTELY CRAZY’

Walking throughout the residence, the deputies found 10 emaciated dogs and puppies living in bins filled with their own feces, five large Macaw birds flying freely, rats, bugs and overall squalor.

Puppies discovered living in their own feces inside a Florida home that was filled with trash, urine, and feces.

Puppies discovered living in their own feces inside a Florida home that was filled with trash, urine, and feces. (Pinellas County Sheriff’s Office)

Deputies said due to the large amounts of trash in the home, they had to clear a path to reach the victim’s bedroom.

“None of the home’s toilets were working and all were found to be overflowing with feces,” deputies said. “The only working sink was located on the opposite end of the house from the victim’s bedroom.”

They said there was no food or water for the victim or the animals.

FLORIDA MAN IN EASTER BUNNY COSTUME CAUGHT IN VIRAL BRAWL IS WANTED IN NEW JERSEY, HAS HISTORY OF ARRESTS

The victim was transported to a local hospital for injuries that were non-life threatening, while the animals were transported to shelters.

The woman’s caretaker, Richard Lawrence Goodwin, 65, was arrested and charged with abuse and neglect of an elderly person, disabled person, and cruelty to animals.

Richard Goodwin, 69, was arrested for abuse and neglect of an elderly and disabled person after deputies found she was living in deplorable conditions.

Richard Goodwin, 69, was arrested for abuse and neglect of an elderly and disabled person after deputies found she was living in deplorable conditions. (Pinellas County Sheriff’s Office)

The sheriff’s department said this was Goodwin’s second arrest for abuse and neglect of the same victim. He was previously arrested in May 2018.

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Neighbor Victoria Muenzerbeer told FOX 13 that Goodwin and the victim were hoarders and the conditions inside the home were horrible years ago when she visited once.

“I went in and it was absolutely, a human being couldn’t live there,” she said. “The kitchen wasn’t usable and part of the wall was falling in.”

Source: Fox News National

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Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli
Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli, Libya April 25, 2019. REUTERS/Hani Amara

April 26, 2019

By Ulf Laessing

TRIPOLI (Reuters) – Libya’s U.N.-recognized government has budgeted up to 2 billion dinars ($1.43 billion) to cover costs of a three-week-old war for control of the capital, such as treatment for the wounded, to be funded without new borrowing, the economy minister said.

Ali Abdulaziz Issawi suggested the government hoped for business to continue more or less as usual despite the assault on Tripoli, in the country’s northwest, by forces tied to a parallel administration based in the eastern city of Benghazi.

Once Africa’s third largest producer of oil, Libya has been riven by factional conflict since the fall of Muammar Gaddafi in 2011, with the country now broadly split between eastern-based forces under Khalifa Haftar and the U.N.-backed government in Tripoli, in the west, under Prime Minister Fayez al-Serraj.

Still, with Haftar’s Libyan National Army forces unable so far to pierce defenses in Tripoli’s southern suburbs, normal life and business activities continue in much of the capital and western coastal towns.

Issawi, in an interview with Reuters in his Tripoli office, also said Libya’s commercial ports and wheat imports were still functioning normally, although some roads have been blocked.

He said the Serraj government estimates it will spend up to 2 billion dinars extra on medical treatment for wounded, aid for displaced people and other “emergency” war costs.

He said this was not military spending but analysts believe that the sum will also cover expenditures such as pay for allied armed groups or food for fighters.

“We could actually spend less,” he added, in comments that gave the first insight into the economic impact of the fighting.

Issawi said the Tripoli government, which controls little territory beyond the greater capital region, would not incur new debt to fund the war costs, sticking to a plan to post a 2019 budget without a deficit.

Tripoli derives revenue largely from oil and natural gas production, interest-free loans from local banks to the central bank, and a 183 percent surcharge on foreign exchange transactions conducted at official rates.

But with centralized tax collection greatly diminished, public debt has piled up – to 68 billion dinars in the west, including unpaid state obligations such as social insurance.

Some analysts expect Serraj’s government will be forced to raise new debt if the war for control of Tripoli drags on.

With much of Libya dominated by armed factions that also act as security forces, the public wage bill for both the western and eastern administrations has soared as fighters have been made public employees in efforts to buy their loyalty.

The east has sold bonds worth 35 billion dinars outside the official financial system as the Tripoli central bank does not fund the parallel government apart from some wages.

Despite its limited reach, the Tripoli government still runs an annual budget of around 46.8 billion dinars, mainly for public salaries and fuel subsidies.

“This year we cannot finance via debt…we will not borrow (by agreement with the central bank),” Issawi said.

According to International Monetary Fund data, Libya’s central government debt-to-GDP ratio is 143 percent, making it one of the most heavily indebted in the world on that measure.

Issawi declined to say what parts of the budget would be trimmed to support the extra outlay for war costs.

However, with some 70 percent of the budget allocated to public wages, fuel subsidies and other welfare benefits, a portion devoted to infrastructure is most likely to be axed.

Widespread lawlessness has meant there have been no major infrastructural projects since 2011, when a NATO-backed uprising overthrew dictator Muammar Gaddafi, leaving schools, hospitals and roads in acute need of restoration.

FOREX SURCHARGE

Issawi said the government planned to raise as much as 30 billion dinars by the end of 2019 from hard currency deals after imposing in September a 183 percent surcharge on commercial and private transactions done on the official rate of 1.4 to the U.S. dollar. That fee has effectively devalued the official rate to 3.9, much closer to the black market equivalent.

Some 17 billion dinars have been raised since then, with hard currency allocated for import credit letters now issued without delays, Issawi said. The forex fee has helped the government forecast a budget in the black for 2019.

Despite the narrowing spread between the two rates, the black market continues to thrive. Dozens of traders remained at their favorite spot behind the central bank headquarters in Tripoli when Reuters reporters visited it last week.

But traders said it could take time for the Serraj government to register the extra forex receipts as official banking channels were taking up to six months to approve import financing, keeping the black market in play for dealers.

Issawi said authorities planned to lower the forex fee from 183 percent, without saying when. The black market rate has dropped from 6 to around 4.1 since September but it has hardly moved of late as demand for black market cash remains high.

The Tripoli government has stopped subsidizing food and bread, which used to be cheaper than drinking water in Libya. Wheat imports are now being arranged by private traders and there are surplus stocks of flour at the moment, Issawi said.

(Reporting by Ulf Laessing in Tripoli with additional reporting by Karin Strohecker in London; Editing by Mark Heinrich)

Source: OANN

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Rep. Gerry Connolly, D-Va., threatened possible jail time for White House officials refusing to comply with subpoenas to testify before the House Oversight Committee.

Connolly, a member of the House panel, made his comments during an interview on CNN on Thursday. He said that “if a subpoena is issued and you’re told you must testify, we will back that up.”

He added: “And we will use any and all power in our command to make sure it’s backed up — whether that’s a contempt citation, whether that’s going to court and getting that citation enforced, whether it’s fines, whether it’s possible incarceration.”

“We will go to the max to enforce the constitutional role of the legislative branch of government.”

His comments came after three officials have refused to comply with congressional requests to testify, CNN noted.

Trump told The Washington Post that his staff should not testify on Capitol Hill, explaining that the White House cooperated fully with special counsel Robert Mueller and “there is no reason to go any further, especially in Congress where it’s very partisan.”

Source: NewsMax Politics

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