GeoPark reports Q4 and full year 2020 results
11 Mar 2021
GeoPark, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina has reported its consolidated financial results for the three-month period and for the year ended December 31, 2020
All figures are expressed in US Dollars and growth comparisons refer to the same period of the prior year, except when specified.
FOURTH QUARTER AND FULL-YEAR 2020 HIGHLIGHTS
Profitable Production Growth
Consolidated oil and gas production of 39,304 boepd
CPO-5 block (GeoPark non-operated, 30% WI) produced 10,310 bopd gross, 55% higher than 3Q2020
Free Cash Flow Generation
Date Time
ASIC imposes additional licence conditions on retail OTC derivatives issuer AxiCorp Financial Services Pty Ltd
ASIC has imposed additional conditions on the Australian financial services (AFS) licence of AxiCorp Financial Services Pty Ltd (AxiCorp, AFS licence 318 232) to ensure that AxiCorp has adequate compliance arrangements in place for its over the counter (OTC) derivatives business.
Under the additional AFS licence conditions:
AxiCorp must appoint an independent expert to conduct a review and assess whether AxiCorp has adequate procedures and internal controls in place to ensure compliance with its regulatory obligations;
the independent expert is required to identify remedial actions from the review and AxiCorp must provide a plan to ASIC setting out the remedial actions it proposes to implement;
ASIC imposes licence conditions on derivatives issuer By Reporter 12 March 2021
The regulator has opposed additional conditions on the financial services licence of an OTC derivatives issuer, after suspending its licence for compliance breaches earlier in the year.
In a statement, ASIC said the new conditions had been placed on AxiCorp Financial Services licence to ensure that AxiCorp has adequate compliance arrangements in place for its over the counter (OTC) derivatives business .
Under the additional licence conditions, AxiCorp must appoint an independent expert to assess whether it has adequate procedures and controls in place to ensure compliance with its regulatory obligations, and identify remedial actions for the company to implement, which it must set out in a plan to ASIC.
Oman: Wood completes work on Shell’s first solar PV plant in the Middle East
11 Mar 2021
Wood, the global consulting and engineering company, recently completed its role as owner’s engineer on
Oman Shell’s first utility-scale, photovoltaic (PV) solar project in the Middle East, designed to cut emissions from industrial activities.
The development will supply renewable electricity to a large ferrochrome production facility, displacing the equivalent gas-fired power generation taken from the grid and saving more than 25,000 tonnes of CO2 emissions annually. The 25 MWp Qabas Solar Plant, consisting of more than 80,000 solar panels, is located within the Sohar Freezone in northern Oman.