A consortium of UK local authority schemes has announced plans for a £1.3bn (€1.5bn) emerging markets fund.The Brunel Pension Partnership said in a statement that it would launch a formal tender process in January, but invited managers to be involved “right from the outset”.Mark Mansley, Brunel’s CIO, said: “Emerging markets will be the source of over half of global economic growth over the next 10 years. Emerging markets are also home to a growing number of world class companies as well as interesting niche business able to access particular opportunities.“Undoubtedly there’s great potential here for investment managers able to think long-term and find the best opportunities. We are starting the process of identifying the best of these today.” Mark Mansley, chief investment officer, BrunelThe emerging markets fund will be the third on Brunel’s platform when it opens next year, following the launch of a £1bn smart beta fund earlier this month. It has also made commitments to long-lease property funds run by M&G and Aberdeen Standard Investments.Legal & General Investment Management runs Brunel’s passive mandates as well as the smart beta fund. Consultancy groups Inalytics and Redington will assist Brunel with the manager search and assessment.Brunel is a collaboration between 10 pension funds in the UK’s Local Government Pension Scheme, with combined assets of £28.9bn. The organisation has initially called for strategic research and “thought pieces” from asset managers – but not formal proposals. It has also invited interested parties to register for updates when the full tender process is launched.
India’s oil company Reliance Industries has confirmed that the MA field ceased production on September 17, 2018, due to natural decline.This was first revealed earlier this week by Ocean Yield, the owner of the FPSO Dhirubhai-1 which had operated on the field. Reliance had the option to buy the FPSO following the expiry of a ten-year contract but decided not to exercise it. The contract expired on Wednesday, September 19, 2018.The MA field located off the East Coast of India in Block KG-DWN-98/3 (KGD6) is operated by Reliance with a 60% interest. Its partners are BP with a 30% interest and Niko Resources with the remaining 10% interest.Confirming the cessation of production from the MA field, Reliance said on Friday that post-cessation activities related to the field shutdown are underway.According to the Indian company, production from the field had been under natural decline and facing continuous challenges due to high water production and sand ingress. The field has cumulatively produced about 0.53 TCF of Gas and 31.4 Million Barrel of Oil & Condensate and had no remaining reserves.For the fist quarter of FY19, MA field contributed less than 0.1% in terms of revenue at Reliance consolidated level, the oil company said.The Dhirubhai – 26 (D26), oil, gas and condensate deep water discovery was made in 2006. The discovery was developed and put on production in September 2008. This was India’s first deep water development (water depth up to 1,250 meters), with seven wells tied back through a subsea production system to a purpose built, state of the art disconnectable turret moored FPSO production unit.Reliance also said that relevant governmental agencies have already been informed.When it comes to the FPSO’s future and employment opportunity outside India, Ocean Yield said earlier this week it had been awarded a Front End Engineering Design (FEED) study for the potential use of the FPSO. The study is estimated to be completed during 4Q 2018.Meanwhile, Ocean Yield will consider recording an impairment related to the FPSO in 3Q 2018 between $0-50 million.Offshore Energy Today Staff
By Martyn HermanLONDON, England (Reuters) – Even when Liverpool are not in action they continue to bolster their seemingly impregnable Premier League lead and it happened again yesterday as second-placed Manchester City could only draw 2-2 with Crystal Palace at the Etihad Stadium.Fernandinho’s 90th-minute own goal robbed them of victory and left Pep Guardiola’s side 13 points behind Liverpool who have played two games less and who can stretch their advantage to 16 if they beat Manchester United today.On a big day at the bottom of the table, bottom side Norwich City gave themselves a lifeline with a 1-0 defeat of free-falling Bournemouth in a match in which both sides had a man sent off.Norwich remain six points adrift of the safety zone but Teemu Pukki’s first-half penalty, awarded after Bournemouth skipper Steve Cook handled and was red-carded, gives them hope. Watford’s revival continued as they took their points tally in new manager Nigel Pearson’s seven games in charge to 14, although Troy Deeney missed a penalty in their 0-0 home draw with Tottenham Hotspur who have stalled under Jose Mourinho.Tottenham are in eighth spot after a four-game winless run, two places higher than Arsenal who could only draw 1-1 at home to Sheffield United, who continue to impress in seventh place.Brazilian teenager Gabriel Martinelli gave Arsenal the lead but John Fleck earned the Blades a draw. Both Tottenham and Arsenal’s hopes of challenging for a top-four finish are fading by the week. However, Chelsea missed the chance to open up a commanding lead over their rivals as they slipped to a 1-0 defeat by Newcastle United in the day’s late kickoff.Chelsea had chances to snatch victory in a tight affair at St James’ Park, but their profligacy in front of goal proved costly, as Isaac Hayden headed a dramatic stoppage-time winner to earn his side a first win in five league games. Southampton’s surge hit the buffers as they surrendered a 2-0 lead at home to Wolverhampton Wanderers to lose 2-3.Mexican striker Raul Jimenez struck twice after the break for Wolves who moved into sixth spot.RELEGATION DOGFIGHTDavid Moyes’s West Ham United drew 1-1 at home to his old club Everton to remain in the thick of the relegation dogfight while Aston Villa and Brighton & Hove Albion drew 1-1 with Jack Grealish equalising for Villa who stay third from bottom.Manchester City’s frenetic afternoon rather summed up their season so far, as they misfired against a Palace side who beat them in the corresponding fixture last season.Sergio Aguero struck twice to overturn a deficit after debutant Cenk Tosun gave Palace a 39th-minute lead. It took Aguero above Frank Lampard into fourth spot on the all-time Premier League scoring list with 179 goals.But City’s relief turned to frustration as Wilfried Zaha powered past John Stones and his cross deflected in off Fernandinho and beat City goalkeeper Ederson.“It was a tight game and unfortunately we could not win it,” Guardiola said.Premier League history, of sorts, was made at Carrow Road where Paul Tierney became the first Premier League referee to send off a player after consulting a pitch-side monitor, adjudging Norwich’s Ben Godfrey’s late challenge on Callum Wilson worthy of the harshest punishment. It ratcheted up the tension for the home fans as Norwich should have been more than one goal ahead by the time Godfrey went off to make it 10 versus 10 in the 76th minute.But Norwich hung on to condemn Eddie Howe’s Bournemouth to a fourth consecutive defeat and leave them second from bottom, three points behind 17th-placed Watford.“It is an important win for us. Three points, clean sheet, good for mood and confidence and the table. A good evening for us,” Norwich boss Daniel Farke said. “There were some spicy moments in the last 10 minutes and anything can happen.” Bournemouth have picked up four points from the last 36 on offer in the Premier League.
FROM NEIL DOHERTY IN GLASGOW: Hoops manager Neil Lennon was handed a perfect Christmas present when Great Greek Georgios Samaras’ double in the 2-1 win against Kilmarnock took Celtic to within a point of Rangers ahead of Wednesday’s Old Firm clash at Celtic Park.Rangers lost at St Mirren earlier on Saturday after being reduced to ten men with Lee McCullough’s sending off after a shocking elbow attack.Samaras – who some fans wanted axed a few weeks ago – headed the home side into the lead in first-half added time and hit his second with a fine drive seven minutes after the break as the Hoops extended their winning run in the SPL to eight games. Killie substitute Danny Racchi hit a consolation at the end.Now Celtic can go into 2012 as leaders if they win on Wednesday against their greatest rivals. It’s a 7.30pm kick-off and police in Glasgow will be out in force throughout the city.Fans travelling from Donegal are being warned to be careful in the city.But for now Neil Lennon is happy. “The day couldn’t have gone better for us,” he said.“A good performance, a good three points and we have closed the gap right up.“But there is a lot of football to go and regardless of who were playing on Wednesday that would be the most important game.“Samaras didn’t start the game great but got better as the game went on.“The first goal pleased me the most, I have been looking for him to score more headers because he has that good physical attribute in the air and the second goal was good finishing. “And we should have won the game comfortably.“I thought we were in complete control in the second-half without being brilliant, although Ki Sung-yueng missed a couple of chances that would have put the game out of sight.”James Forrest and Samaras came off in the second-half but Lennon allayed any fears before the Old Firm clash.He said: “Georgios wasn’t feeling well before the game, he is struggling with a heavy cold but he wanted to play and we are delighted that he did. “James was feeling a little bit of fatigue in the hamstring and he was obviously wary and he didn’t want to take too many chances with Wednesday looming.”CELTIC (4-4-2): Forster; Cha, Mulgrew, Wanyama; Ledley; Forrest (K. Wilson 49), Brown, Kayal, Ki (Rogne 90); Hooper, Samaras (Bangura 66)Subs not used: Zaluska, Izaguirre, McCourt, McGeouchKILMARNOCK (4-4-2): Bell; Fowler, Sissoko, Pascali, McKeown; Kelly, Buijs (Dayton 62), Shiels (Racchi 72), Hay (Kennedy 78); Harkins, Heffernan.© 2011 donegaldaily.com, all Rights ReservedThe copying, republication or redistribution of donegaldaily.com Content, including by framing or similar means, is expressly prohibited by law.Follow us on www.twitter.com/donegaldailyFollow us on www.facebook.com/donegaldailyTHE HOOPS REPORT: LENNON LOOKS FORWARD TO OLD FIRM CLASH AFTER CLOSING THE GAP ON GERS was last modified: December 25th, 2011 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:CelticGeorgios SamaraskilmarnockNeil Lennonold firm