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Venezuela´s state-run PdV has quietly abandoned an ambitious plan to reach 6mn b/d of crude production capacity by 2021 in favor of a far more modest target of 3.18mn b/d by 2025, according to a company presentation seen by Argus.

Difficult market conditions, including dramatically lower oil prices since 2014 and a persistent crude supply glut, forced PdV to "recalibrate" its core long-term investment plan late last year, an energy ministry official said.

The revised long-term plan would raise crude output by 670,000 b/d by 2025, assuming a starting point of 2.51mn b/d cited in the company's 2017 business plan.

Assuming the January 2017 level of 2.25mn b/d that Caracas reported to Opec, PdV would have to increase production capacity by 930,000 b/d to reach the 2025 target.

Argus estimates that PdV's real crude production is about 2mn b/d, more than 1mn b/d below the new long-term goal.

According to PdV´s revised plan, existing and new Orinoco extra-heavy crude projects would account for 1.9mn b/d or almost 60pc of the 3.18mn b/d of planned production capacity by 2025.

The Orinoco heavy oil belt now accounts for about 1.2mn b/d. Under the new plan, PdV would add around 700,000 b/d of new Orinoco production over the next nine years, compared with up to 2.4mn b/d of new Orinoco output originally projected in the company's now abandoned Siembra Petrolera plan that was anchored on the 6mn b/d target.

PdV estimates the total cost of its scaled-down plan at about $76bn or roughly $8.4bn annually over nine years, compared with up to $257bn under its scrapped Siembra Petrolera plan. The plan does not indicate how much of the investment would come from PdV´s partners, but under Venezuela´s current legislation, PdV is obligated to hold a majority stake in oil projects.

PdV will continue blending Orinoco extra-heavy crudes with light crude, including some imported grades, to produce Merey 16 for export.

But a slower development pace for the new Orinoco ventures should reduce costs associated with rising light crude and naphtha imports, even as PdV seeks to revive output from its own long-neglected light and medium oil fields.

The new plan eliminates a campaign to install six new heavy crude upgraders in the oil belt, plus an associated solids export terminal on the Orinoco River. The upgraders were deemed too costly, and potential foreign investors including PdV's existing joint venture partners have shown no interest, the energy ministry says.

PdV has in effect already shifted modest new Orinoco production that exceeds the capacity of four existing upgraders to less costly blending operations.

The new plan would expand PdV´s refining capacity to 1.5mn b/d by 2025, a net increase of only 200,000 b/d from its current local nameplate capacity of 1.3mn b/d, of which less than 50pc is currently operational.

PdV previously planned to upgrade its four existing domestic refineries, and build at least two new ones in Barinas and Anzoategui states with up to a combined 400,000 b/d of processing capacity.

On paper, the company´s planned $10.5bn upgrade of its 190,000 b/d Puerto La Cruz refinery to 210,000 b/d remains on track for completion in 2018. But PdV has shelved plans to build the 100,000 b/d Batalla de Santa Ines refinery in Barinas and the 300,000 b/d PetroBicentenario refinery at the Jose complex in Anzoategui in which PdV and Italy´s Eni were to be 60:40 shareholders.

If PdV meets its new downsized target of 3.18mn b/d by 2025, production capacity would still fall short of a historical peak of 3.3mn b/d registered in 1998, the year Hugo Chavez was first elected president of Venezuela. Chavez ushered in a period of nationalizations and rebuke for the private sector that current president Nicolas Maduro has deepened since taking office after Chavez´s death in 2013.


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- WiFi
- Car park
- Air conditioning
- Swimming pool
- Rural
- Gym
- Business
Choose your room
This Victoria, Texas hotel is just 5 miles from Victoria Regional Airport. It features a weekday evening manager's reception and rooms with free Wi-Fi. Each studio or suite at Homewood Suites by Hilton Victoria has a full kitchen with a full-size refrigerator, a microwave, a coffee machine and a stove top. A work desk and a 42-inch flat-screen TV are also provided. Guests of Homewood Suites Victoria can keep fit in the on-site fitness center, sports courts, and outdoor swimming pool. Victoria Homewood Suites provides other conveniences like a laundromat, a business center, and a grocery shopping service. On weekday evenings, a welcome reception is provided. University of Houston – Victoria is 4 miles from the hotel. Downtown is within a 10-minute drive of the hotel.
Useful information:Other names for Homewood Suites By Hilton Victoria:
Homewood Victoria Tx

subset: commoncrawl


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A Star Is Born Soundtrack by Lady Gaga & Bradley Cooper
2018, 1 track, 3 mins 35 sec
Lady Gaga spreads her wings & steps into the limelight for the first time – at least in a feature film – in the movie A Star Is Born, the third time the 1937 film of the same name has been remade, showcasing not only her ability to act in a compelling manner but how malleable her vocal skillset is, presenting herself in a much more fragile & unpolished manner than she has in other mediums. The film itself follows a verging-on-alcoholic performer – played by Bradley Cooper – in his travels from venue to venue, struggling to keep his addiction hidden from the public as he plays to sold-out crowds, eventually coming across Gaga's character singing at a drag bar one night & becoming mesmerized by her untapped talent; They hit it off instantly & Cooper asks her to come to his show that night, inviting her on stage for her first performance on a grand stage & unveiling her unto the world, an act which marks the beginning of their burgeoning romance & the moment the star of this story is born – "Shallow" is the duet they sing together, a tune that functions as a deep dive into the duo's mindsets as they speak about emptiness, desire, fear of failure & their quest for the courage necessary to fulfill their greatest fantasies. Half expository statement & half romantic ode, this narrative allows them to wear their vulnerabilities on their sleeve, trusting that their singing partner will pick up the slack & provide the comfort they're searching for, the quality of their emotional performances conveying how serious they are about embarking on this lifechanging adventure together.
It's no surprise that Gaga absolutely kills it in "Shallow," giving what is easily one of her most riveting emotional performances to date, but the introductory moments show us that Cooper is more than capable of holding a tune on his own as well, delivering a gritty display of vocal skill that feels authentic & seasoned, just like his character would sound. Before the movie went into production, he took two years off to learn how to sing, combining that with his acting prowess to transform his minimal vocal skillset into a truly impressive display of music theory, his dulcet tones soothing the listener with an ever-so-slight southern twang, raspy vocal fry from years of alcohol & tobacco abuse, an astounding grasp on dynamic accentuation & the ability to do all of this whilst playing the guitar with above-average skill. Though he may dazzle audiences for a bit, Gaga quickly usurps him when it's her time to hit the stage, singing with a mixture of raw emotion, stage fright & curiosity as she works out her own self-image issues in front of such a huge crowd during her performance, her voice wavering & seeming to grow as she sings into a more confident character with every note; Because of this, her incredible crystalline high notes in the latter-half of "Shallow" feel uplifting & completely earned for her character, demonstrating the exact moment she has overcome her fears & accepts who she really is inside, her booming voice & application of ever-more dynamism showing this sonically to the listener – As if it could have gone any other way, this track is an absolutely breathtaking performance that gives modern musical films a good name, presenting a heartwarming story which can be applied to audiences in all manner of tricky situations & one that cements both Cooper & Gaga as top-tier performers, creating a feedback loop that'll have listeners clamoring for more material on a regular basis.
Lady Gaga, Andrew Wyatt, Anthony Rossomando, Mark Ronson
"Shallow" is a song performed by American singer Lady Gaga and American actor and filmmaker Bradley Cooper. It was released through Interscope Records on September 27, 2018 as the lead single from the soundtrack of the 2018 musical drama film, A Star Is Born. "Shallow" was written by Gaga with Andrew Wyatt, Anthony Rossomando and Mark Ronson, and produced by Gaga with Benjamin Rice. The song is heard three times throughout the film, most prominently during a sequence when Cooper's character Jackson Maine invites Gaga's character Ally to perform it onstage with him. The scene was filmed in front of a live audience at the Greek Theater in Los Angeles, California.
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Collective bargaining
Acollective bargaining process is a process that involves employer'srepresentatives and employee's representatives in negotiationsaimed at seeking an agreement on the terms and conditions ofemployment (Najita & Stern, 2008). It is imperative to point outthat the employees are normally represented through trade unions orlabor organizations. A collective bargaining process ends up with theresult of a collective bargaining agreement, largely known as theCBA. The CBA can be in two forms substantive or proceduralagreements. Procedural agreements are aimed at dealing with therelationship between individual and group employees with themanagement, as well as provide avenues and means of resolvingdisputes that may arise (Najita & Stern, 2008). The substantiveagreement on the other hand deals with matters relating to basic pay,working hours, holiday entitlement and overtime compensation.
Thecollective bargaining process has been instrumental in dealing withdisputes that arise at the work place between employees and themanagement. The criminal justice employees are entitled to thecollective bargaining process and should participate in the process(Peak, 2012). The employees must have representatives who cannegotiate their terms of work just as the private sector employeesare represented. In this case, however, the representatives of thecriminal justice employees will be negotiating with the governmentwhich is the employer. It is evident that a majority of criminaljustice employees work under extremely hard conditions such as thehardships that police officers go through (Peak, 2012). It is alsoevident that the criminal justice employees are subjected to lowsalaries due to the lack of a collective bargaining process. Acollective bargaining process for the criminal justice employeeswould ensure that the employees earn a reasonable pay and thatdisputes at the workplace are resolved appropriately andprocedurally. It is however, vital for the collective bargainingprocess for the criminal justice employees to be controlled to avoidinstances where the employees can down their tools. It is clearlyevident that the criminal justice employees provide essentialservices of ensuring peace, law and order among the people.
Peak,K. J. (2012). Justiceadministration: Police, courts, and corrections management (7th ed.). Upper Saddle River, NJ: Prentice Hall
Najita,J. M., & Stern, J. L. (2008). Collectivebargaining in the public sector: The experience of eight states.Armonk, N.Y: M.E. Sharpe.