Russia’s Rosneft wins gas licences in Venezuela

 

Article Author / Source:

http://www.bbc.com/news/business-42388488

Summarize the article.

Just on Saturday, December 16th, 2017, the Venezuelan president, Nicolás Maduro, has awarded licences to  Russian energy giant Rosneft to develop two offshore gas fields. This deal is allowing Grupo Rosneft to operate, and export gas that is produced at the Patao and Mejillones fields in the Caribbean Sea, for the following 30 years. The contract was signed by Rosneft CEO Igor Sechin, who is a close ally of Putin, as well as a Russian official. For the next 30 years, Russia will now be allowed to sell and export all the gas and fuel that is made there, this includes liquified natural gas. Right now, Russia needs to show off their base projects and get approval from Venezuela before they can start anything though. Russia is currently trying to build a better relationship with Venezuela, so they will be able to make more of an impact in Latin America. Rosneft provided the Venezuelan state energy company, PDVSA, with $6 billion as an advance payment, in August. The total reserves of the two area fields, are estimated at around 180 billion cubic meters of gas. Russia has also stated that they are planning to extract around 6.5 billion cubic meters of gas per year, for 15 years. Currently, Russian companies are already involved in multiple joint projects with Venezuela, and currently, they have access to fields that are estimated to hold more than 20.5 billion tons of oil. At the moment, Venezuela owes an estimated amount of of $140bn to foreign partners and creditors. Russia has been helping Venezuela with their finances, and helped them after their oil-based economy crashed. The deal is allowing Venezuela to make small payments to Russia over the course of the next 6 years.

Why is it important (impact)?

I think that this is important, as Russia is a growing country that has made large impacts in the way the world is shaped today. This deal is allowing Russia to grow more and more financially and since it has a new business partner, Venezuela, they will only proceed to grow more, unless like something bad happens to their oil supplies. Russia is a country where when the oil prices drop around the world, they will suffer from a loss of money. 30% of Russia’s GDP relies on oil and gas prices. Between June and December 2014, the Russian currency, the ruble, dropped in value 59% relative to the U.S. dollar, because there was an oil price crash. Anyways, Venezuela suffered a loss as well when their oil prices dropped, since they too, have a large part of their economy focused in the production of oil. Russia has helped them in the past when they were in a bit of a mess, so the least Venezuela could do is to slowly pay them back through various offers and accepting trades. I wouldn’t exactly say that the Russians “took advantage” of Venezuela, but they definitely saw an opportunity to grow, and took it.

Secret Santa

Winter break is almost here but before that is Secret Santa. For the last day of school we were suppose to make a treat or present that you made at home. We chose the people to make our presents for two weeks ago. The point of Secret Santa is to gift something for someone without telling them. The rule for us was we weren’t allowed to spend money on this gift. We had to make things at home like food and others. When drawing names we had a chance of getting someone from the grade 8 minischool or the grade 9 minischool. On the last day of school everyone hands theirs in and get their present. Remember that school will be on January 8. Happy Holidays and Merry Christmas!

Snow in December!

This week at Alpha…

Christmas is just around the corner and we finally had the first snowfall of December 2017, on Tuesday, the 19th! With the snow, came people slipping and sliding on the icy sidewalks (though, Alpha did a pretty good job with the ones around the school), and snowball fights breaking out on the field. The snowfall also means a lot of work for the people tasked with keeping the building clean (and dry) because wet snow and mud are constantly being tracked throughout the school. All in all, the snow has brought a real festive atmosphere to these last few days of school before Christmas!

From Beta.

 

IDS: It’s coming along!

Hey Alpha, it’s Beta Minischool here!

The first quarter of the year has passed and Beta Minischool’s I.D.S projects are about a quarter finished. It’s amazing to see all the intriguing and fascinating project everybody is working on! For those of you who don’t know what I.D.S stands for I.D.S is an acronym. I.D.S, stands for Independent Directed Studies meaning that all these superb projects are being created on each students own time outside of school. I.D.S topics in Beta Minischool range from Virtual Reality development, to photography, mountain biking and instrument designing and creating! There are so many projects that are really amazing this year in Beta Minischool! Students are well ahead of their various projects with a quarter of the project done. All of these projects are quite interesting but several students are already ahead and have over 80 hours of work done.

We can’t wait to see the final products of I.D.S if this is just a quarter of what the finished projects will look like. The students here at Beta Minischool have been working hard on there I.D.S projects and it looks like their hard work will payoff in the end. That’s our update for the week here at Beata Minischool and we hope to update what happens with our I.D.S project soon.

A rush in December for the grade 8’s

  In all the scramble to log as many hours as humanly possible, cramming as much work without defying the laws of time, each student trying for a 40, or if they procrastinated too much, a 30. Some just gave up in the final stretch, planning to do 30, or even 20 before the finish line. Some has been a good-two-shoe and done 40, or a staggering 50, months before the due date starts to be seen on the horizon.

    To add the the frenzy of IDS check-ins, series of classes has been spent learning about China and Islam, religions such as Judaism, Christianity, Sikhism, Buddhism and much much more. In conclusion, it’s safe to say that most of us are quite knowledgeable in the arts of ancient religions now.

    On top of all that, there’s the science fair check-in looming over us, keeping us in constant stress along with other projects and homework, such as the dozens of math questions, tons of ornaments being printed in our frantic rush for christmas decorations.

BETA’s in for a busy month!

 

This week at Alpha (From December)

This Week at Alpha

We have had a crazy last week of 2017 here at Alpha. With the first heavy snowfall of the year making it hard to get home, and tests, projects and exams piling up, many students have been counting the days left until Winter Break for weeks. However, ridiculous loads of homework aside, we have had an exciting week. Negative temperatures have been creeping into our thermometers for days now, but it has become really cold recently, and the hot chocolate sales have been popping up. One of the anticipated events of this month was the elementary school tradition of The Pancake Breakfast. This image, courtesy of the Alpha Twitter page, shows all our students enjoying their delicious meals. Because Christmas is upon us, half the school has been cracking down on academics, and half the school has given up. There have been a lot parties this week, and many lazy blocks of movies, and playing games.

The final and most mysterious of all things that have been planned for this week is the Ho Ho Ho Down, an event that has been explained to us ever so vaguely by teachers, and older students. All we know is that classes will be shorter, and that there will be competitions and a mysterious currency called Santa Bucks. Students have been hounding these from teachers and staff this week by performing good deeds, and paying attention in class. The reason is that we have been told that there will be $500 worth of prizes, so all we can do is wait and see what will happen.

  • From BETA