GAC Group to support oil operations following investment boost

first_imgThe USD35 million loan to GAC will finance the group’s purchase of up to six supply ships to support offshore oil rigs. Three will operate in Kazakhstan, while the others will operate in Africa and the Middle East. Erland Ebbersten, GAC Group vice president for Europe, Africa, Mediterranean, Black and Caspian Sea, said: “GAC’s expansion underlines the group’s commitment to the Caspian region. We believe we can contribute significantly to development of the energy infrastructure in the Caspian, and we welcome IFC’s support in making this meaningful task possible for us.”Kazakhstan has been unable to exploit its large reserves of oil and gas largely because of a lack of infrastructure, support services, and equipment. Financing for new ships and equipment has been difficult in the country and the wider region, as entry and exit costs are high, because the only route out of the area is frozen for up to six months of the year. The global financial crisis has exacerbated this challenge.last_img read more

Cope runner wins state title

first_imgRussell [email protected] Premier Diamond BoutiqueHong Kong’s first lab-grown diamond empirePremier Diamond Boutique|SponsoredSponsoredUndoInstant Voice TranslatorInstant Voice Translator (43 Languages) Takes Hong Kong By StormInstant Voice Translator|SponsoredSponsoredUndoPerfect-Dating.comAre You Ready to Meet Cool Guys in Tung Chung?Perfect-Dating.com|SponsoredSponsoredUndoStanChart by CNBC CatalystBlockchain Is Changing the Game for Trade Financing. Here’s How It’s Driving Future Global Trade.StanChart by CNBC Catalyst|SponsoredSponsoredUndoStrategyCombatIf you own a Computer, then you have to play this Game. No Install.StrategyCombat|SponsoredSponsoredUndoDating.comWhere do attractive singles find each other in Tung Chung?Dating.com|SponsoredSponsoredUndo Cope eighth-grader Isabelle Shamblin won the girls’ individual junior high title in the Louisiana Elementary and Junior High Cross Country State Championships last Saturday in Ruston.Shamblin covered the 2,400-meter course in nine minutes, 33.358 seconds. She finished about eight seconds ahead of runner-up Crisanna Weaver of Choudrant.Special to The Press-TribuneCope’s Isabelle Shamblin won the Louisiana State Junior High Cross Country individual championship last Saturday in Ruston.Fifty-three runners competed in Shamblin’s division.Benton Middle School finished runner-up in the boys’ junior high division.The Tigers scored 70 points. Cedar Creek won with 35.Benton also finished third in the boys’ and fourth in the girls’ fifth-sixth grade team competition.Garrett Cox led Benton in the junior high division. He finished 10th with a time of 9:07.30. Teammate John David Carrier was 11th in 9:10.21.Other Benton runners in the scoring were Chandler Burns (19th, 9:42.36), Brennen Russell (22nd, 9:45.44) and Creighton France (30th, 10:04.10).Connor Downs was 36th, Josh Stephens 38th, Hayden Bihm 45th, Trenton Morgan 52nd and Bailey McCormick 63rd.Benton’s Jacob Wilson and Lexy Ybarra posted fifth-place finishes in the boys’ and girls’ fifth-sixth one-mile run.last_img read more