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RD House / VASHO

first_img Dominican Republic Projects ShareFacebookTwitterPinterestWhatsappMailOr Clipboard “COPY” Houses ArchDaily RD House / VASHOSave this projectSaveRD House / VASHO RD House / VASHO “COPY” 2013center_img Architects: VASHO Year Completion year of this architecture project CopyHouses•Dominican Republic ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Photographs Save this picture!© Eduardo Abreu+ 28 Share Photographs:  Eduardo AbreuMunicipal Permission Drawings:Alwyn DiasConstruction Drawings:Alexi Moraga H.Structural Engineering:Calculista Joaquín AlmansarLighting:Alexi Moraga H.Irrigation And Green Roof Design:Alexi Moraga H.Electrical Design:Ing. José De CastroAutomation Design:Domotics Dominicana Srl.Sanitary Design:Alwyn DíazExecution Coordinator:Alexi Moraga H.Personal Management:Maestro Valentín BuenoElectrical & Services Execution:Técnico Luis Tiburcio y CIA.Furniture & Cabinet Execution:Mario MaderasArchitect In Charge:Alexi Moraga H.Country:Dominican RepublicMore SpecsLess SpecsSave this picture!© Eduardo AbreuRecommended ProductsDoorsLonghiDoor – HeadlineWoodGustafsWood Veneered Wall & Ceiling PanelsWoodAccoyaAccoya® Cladding, Siding & FacadesWoodParklex International S.L.Wood cladding – FacadeText description provided by the architects. The programmatic challenge: design a house that allows 18 people to fit comfortably within 500mt2 (including terraces). Open spaces, characteristic of the local architecture. All of the bedrooms have their own bathroom, study and/or library and living room-dining room-kitchen all in one space. The house will be a second home to use intermittently in the summer.Save this picture!© Eduardo AbreuThe architect recognizes that one of the greates challenges will be the difficult access and limited horizontal surface of the property, most of it having a slope of 45 to 70 degrees. That is why an extremely precise survey was made to be able to work from the foundations to the roof gardens. The natural level curve of the face of the hill influenced not only the structural reinforcement of the job but also the programmatic distribution of spaces. This can be seen, for example, in the continuity of the natural surface of the hill in the living room of the house.Save this picture!© Eduardo AbreuBurying the house is proposed as a visual action. Hiding the overall volume of the work to the existing natural geography to cushion the impact of the volume to the eye upon arrival, being conscientious of the paradisaic surroundings, but always seeking to make the natural surroundings appear from the interior before the user: “Disappear to make appear”.Save this picture!© Eduardo AbreuA large percentage of what materials of the “Habitable Refuge” is rock extracted from the excavation of the property. Its visible concrete walls were molded in pine formers which, along with the high quality native wood, delivers a rustic environment which cushions the contrast of texture-color with its surroundings without abandoning the “modern” look.Save this picture!© Eduardo AbreuThe act of burying the house in the hill not only touches the esthetic aspect but also the sustainable aspect. The green roof allows for more insulation as far as direct heat from the sun is concerned. Its rear face is in contact with the rock of the hill creating a cooling phenomenon known as “thermal inertia” that consists of a basic physical action; “The temperature of a body of lesser volume equals that of a greater volume when these two bodies are in contact.” To make this possible without the constructive damages that may arise, highly engineered waterproofing methods were used. In other word the refuge does not need a mechanical cooling system. It is a contention wall in itself.Save this picture!© Eduardo AbreuFrom the general understanding that where there is good administration there is energy efficiency; in other words the consumed load decreases, is that we have incorporated Domotics to the design, with the purpose to touch an ecological approach with the house. Domotic is an intelligent system that basically integrates a structured web which allows control of the lighting scene, entertainment components (sound, temperature regulation of the Jacuzzi from another location) and security (solenoid valves, camaras, alarm system, etc.) from anywhere within the home or out of the home, generating comfort and energy saving.Save this picture!Floor PlanProject gallerySee allShow lessWhat the Guggenheim Should Consider Before Building in HelsinkiArticlesREX Unveils Details of Five Manhattan West DevelopmentArchitecture News Share Year:  CopyAbout this officeVASHOOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesJarabacoaDominican RepublicPublished on February 11, 2014Cite: “RD House / VASHO” [Casa RD / VASHO] 11 Feb 2014. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogFaucetshansgroheKitchen MixersVinyl Walls3MExterior Vinyl Finish – DI-NOC™ Fine WoodPartitionsSkyfoldVertically Folding Operable Walls – Zenith® SeriesCultural / SportsPENT FitnessFitness Equipment – BANKA™ Weight BenchSignage / Display SystemsGoppionDisplay Case – B-ClassConcreteKrytonCrystalline Waterproofing – KIMMetal PanelsTrimoQbiss One in OfficesBricksFeldhaus KlinkerFacing Bricks – Waterstruck VascuWood Boards / HPL PanelsInvestwoodViroc Nature for FurnitureCurtain WallsMetawellFacades – Aluminum Curtain WallsHeatingFocusFireplaces – PaxfocusPatios / TerracesGlas MarteGlass Pavilion – GM Pavillon360More products »Read commentsSave世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

Report from 60th anniversary celebration of Democratic Peoples Republic of Korea

first_imgPyongyang, Democratic People’s Republic of Korea — Even on normal days, this magnificent city proudly wears its history on its sleeve. There are monuments and buildings everywhere dedicated to the almost unimaginable sacrifices the Korean people have made to safeguard their independence from would-be conquerors.But these are not normal days. This is the 60th anniversary of the armistice agreement, signed on July 27, 1953, that ended the three-year bloody conflict called the Korean War in the West and the Fatherland Liberation War here.To mark the occasion here in the north of the divided Korean peninsula, thousands of foreigners and many governments have been invited to share in festivities organized by the Workers’ Party of Korea. Flags with the party’s symbol — a hammer, a sickle and a brush, to symbolize the workers, peasants and intellectuals whose revolution transformed the north — fly from buildings and lampposts alongside the national flag of the DPRK.Most honored in the many activities occurring around this city and the country are veterans of the war. Their light-brown uniforms, many bespangled with medals, are seen everywhere, and younger people show them special reverence as they pass on the street.Their lined faces and lean, hard bodies bespeak their age and the hardships they endured fighting for their country and their future.People in the United States seldom hear anything about that war anymore. When the corporate media talk about “North Korea” — they rarely mention its real name — it is almost always to attack the leadership and the measures they have taken to strengthen the country’s defenses.But here in the DPRK, everyone knows about the war and their support for the government’s “army first” policy is resounding.The centerpiece of the July 27 commemoration was a military parade through Kim Il Sung Square, named for the legendary revolutionary leader and military tactician whose guerrilla army liberated the north from Japanese colonial rule in 1945. Kim became the first president of the DPRK in 1948 and led the young country’s resistance to U.S. imperialist aggression from 1950 to 1953.Hundreds of thousands of Koreans participated in the parade, including units of the military, militia members and civilians. Their body language and chanting of slogans showed extraordinary determination. Despite standing hours in a very hot sun in full dress uniforms, the ranks of women and men maintained perfect formation, then marched with a high-stepping, almost bouncing gait that exuded coordinated energy.Then came a massive display of weapons, ranging from multiple-rocket launchers to long-range artillery mounted on trucks and tanks. Nuclear-capable missiles rolled by as MiG jets and helicopters zoomed overhead. The civilians then got their chance to march and chant, which they did with great passion as they passed the reviewing stand.The DPRK’s new young leader, Kim Jong Un, was joined there by high dignitaries, including Vice President Li Yuanchao of the People’s Republic of China. Special homage was paid to the million Chinese volunteers who had joined forces with the Koreans during the war to push back the U.S. invaders. A large delegation of Chinese veterans of the war attended the ceremonies.The DPRK’s military forces are purely defensive. Unlike the imperialist United States, it has no troops on foreign soil, no nuclear subs prowling the oceans, no battleships threatening to invade the Middle East or Africa or Latin America. But it has in recent years developed a nuclear deterrent, having both warheads and the long-range missiles capable of delivering them. However, it has pledged never to use them in a first strike.The U.S. government refuses to make such a commitment and threatens the whole world with the Pentagon’s stated policy of not ruling out a “preemptive” nuclear attack.Early this year, the U.S. carried out large-scale military exercises right off the borders of the DPRK that for the first time included Japanese forces. This set off alarm bells in both Korea and China, which suffered horribly from Japanese colonial aggression before and during World War II.Kim Il Sung and other leaders of the Korean Revolution had gained their early military experience in the 1930s fighting alongside Chinese Communists and patriots against the Japanese annexation of Manchuria, the Chinese province adjoining northern Korea.With the defeat of Imperial Japan in World War II, anti-colonial revolutions spread throughout Asia, most led by Communists. But only five years later, the U.S. launched the war in Korea in an attempt to establish its hegemony over the entire peninsula.It failed. Despite having inflicted millions of deaths on the Korean people and leveling structures in the north with carpet bombing and napalm, the Truman administration had to sign an armistice agreement with the DPRK.Koreans today are celebrating this first defeat for the supposedly invincible U.S. imperialism while emphasizing their “army first” policy as the best insurance against such a war ever happening again.This celebratory mood was given exuberant cultural expression on the evening of July 26 in a performance of “Arirang.” This multifaceted drama employed song, dance, fireworks, acrobatics, high-wire aerialists and even preschoolers coordinating intricate jump-rope routines while thousands of students seated in the bleachers illustrated the story with rapid flip-card scene changes. Some 200,000 people participated in or watched the production.More than anything, these mass events showed the energy, unity and determination of the people of the DPRK to defend the hard-won gains of their anti-colonial socialist revolution and support their leaders’ defiance of all imperialist threats.A solidarity delegation from Workers World Party attended the celebrations in Pyongyang at the invitation of the Workers’ Party of Korea. Larry Holmes, first secretary of WWP’s National Committee, headed the delegation and was accompanied by the author of this article as well as by Elena Gilbert, an organizer in the South. FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Mnuchin: GSE Reform On Hold

first_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Fannie Mae Freddie Mac GSE Steve Mnuchin Treasury Department 2017-09-15 Joey Pizzolato Share Save The Best Markets For Residential Property Investors 2 days ago September 15, 2017 1,879 Views About Author: Joey Pizzolato The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Back in June, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, spearheaded by its Chairman, Senator Mike Crapo (R-Idaho), held a hearing on the necessity of reform for the government sponsored enterprises, Fannie Mae and Freddie Mac. Ginnie Mae’s model was a good starting point, he said.“Fannie and Freddie are currently earning profits, but if the housing market experiences a downturn, and at some point, it will, taxpayers could again be on the hook for many billions of dollars,” Crapo said in his prepared remarks. “Reform is urgently needed, and the Committee is actively exploring a variety of options.”The most important issues at hand, according to Crapo, were taxpayer protections, and preserving the interest of lenders, investors, and consumers.Now, however, Secretary of the Treasury Steve Mnuchin is of the opinion that both companies aren’t ready to be released from government’s conservatorship, according to a recent report by Bloomberg.Mnuchin told a panel at a Politico conference that the GSEs would continue turning over profits to the Treasury for the time being, and that any reform would most likely be put on the back burner until 2018.Since 2012, when the government changed the terms of Fannie and Freddie’s bailout from a rate of 10 percent dividend to virtually all the GSE’s profits, the two mortgage giants have paid the Treasury Department over $270 billion dollars in dividends. Mnuchin, after the conference, told reporters he expected dividends to continue to be paid.There has pressure from investors and hedge funds to secure a portion of that profit. According to Bloomberg, some firms, including Fairholme Funds Inc., Paulson & Co. and Perry Capital, have brought suit against the government, and various lobbying efforts have been prevalent in Washington to encourage quicker reform to remove the GSEs from government conservatorship.Six Senate Banking Committee Democrats took a less extreme stance in a letter sent to the Treasury Department and the Federal Housing Finance Agency on Tuesday, urging the agency to reduce dividend payouts and allow the GSEs to build capital, which they said would ultimately protect consumers—and the government—in the event another bailout is required.You can read the full letter below:  Print This Post Previous: LenderLive Announces New Chief Financial Officer Next: Bank of America is Taking on the IRS Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles in Daily Dose, Featured, Headlines Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Mnuchin: GSE Reform On Hold Home / Daily Dose / Mnuchin: GSE Reform On Hold Tagged with: Fannie Mae Freddie Mac GSE Steve Mnuchin Treasury Departmentlast_img read more

The Future of Credit Risk Transfers

first_img Fannie Mae and Freddie Mac’s credit risk transfer programs (CRT), initiated in 2013, are likely to experience declines due to rising interest rates and declining origination volumes, according to research from the Urban Institute. However, Laurie Goodman of the Urban Institute calls the programs “a huge success” and foresees potential growth “from outside GSE space” in the future. Since the program began, the GSEs together have transferred part of the credit risk on a total of $2.1 trillion in acquisitions. Fannie and Freddie “have obtained coverage for up to 3.26 percent of losses on the $2.1 trillion of covered mortgage loans,” Goodman stated in her research paper, “Credit Risk Transfer: A Fork in the Road.” She continued to explain, “This is a significant amount of mortgage risk in a sector where Basel capital standards traditionally assigned 4 percent capital requirements.” Goodman attributed the growth in the program to “continuous program innovation” and said she expects “the GSEs will continue to broaden their offerings.” However, she added, “This rapid growth of the CRT market cannot continue because collateral volumes were down in 2017 and are expected to decline further in 2018.” Goodman pointed out four opportunities for growth in CRT at the GSEs: “(1) increasing the collateral base on new business that they target for CRT, (2) raising the detachment point on the existing CRT transactions to pick up more of the “catastrophic” risk, (3) laying off more first-loss risk, or (4) targeting the legacy book of business.”The first two options “make little economic sense for the GSEs, as they provide little protection,” according to Goodman. Goodman pointed out that the GSEs have already laid off most of their 30-year loans with loan-to-value ratios greater than 60 percent. Most of what is left is “low risk”—either shorter-term or lower-LTV loans. The GSEs have purchased protection against the first 4 percent of losses for credit risk transfers of loans with LTVs between 60 and 80 percent and against the first 4.25 percent of losses for CRTs of loans with LTVs between 80 and 97 percent. This, Goodman said, “is more than sufficient to protect against a scenario similar to the Great Recession.”With little room left for the GSEs to expand in the CRT space, Goodman suggested future CRTs will come largely from other sources, primarily mortgage insurers and possibly banks. If offered capital relief on the loans, it could be beneficial for banks to engage in CRTs. If commercial banks could unload some credit risk, “It would reduce the volatility of earnings and allow banks to hold larger mortgage positions in portfolio,” Goodman explained. However, “We believe mortgage insurers are the most promising area for CRT expansion,” Goodman said. “This expansion is valuable for the mortgage insurers and for the GSEs.”For mortgage insurers, expanding in CRTs “is economic, it provides capital relief, and it reduces earnings volatility,” Goodman said. Before 2017, only one mortgage insurance company was participating; now three of the six active mortgage insurers are participating, and Goodman expects more to follow.To read more about credit risk transfer, click here. Share Save Tagged with: Credit Risk Transfer CRT Fannie Mae Freddie Mac GSEs Servicers Navigate the Post-Pandemic World 2 days ago June 26, 2018 4,074 Views Demand Propels Home Prices Upward 2 days ago Credit Risk Transfer CRT Fannie Mae Freddie Mac GSEs 2018-06-26 Krista Franks Brock Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, Journal, Loss Mitigation, News, Secondary Market About Author: Krista Franks Brock Previous: HUD Greenlights $5 Billion Texas Disaster Recovery Plan Next: The Evolution of the REO Landscape Related Articles  Print This Post Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Future of Credit Risk Transfers Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and, MReport and She holds degrees in journalism and art from the University of Georgia. Home / Daily Dose / The Future of Credit Risk Transfers Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

29 patients waiting on beds at Letterkenny General today

first_img Google+ Main Evening News, Sport and Obituaries Tuesday May 25th Pinterest Facebook 75 positive cases of Covid confirmed in North WhatsApp By News Highland – February 3, 2015 Further drop in people receiving PUP in Donegal There are 29 people waiting on beds at Letterkenny General Hospital this morning.While the figures are down on yesterdays record figure of 40, Letterkenny General still has the third highest amount of people waiting on beds in the country today.14 patients are on trollies, while 15 are on wards, all of them waiting on beds. Previous articleConcern at EU plans to publish details of farmers’ paymentsNext articleMc Crossan calls for significant house building programme in West Tyrone News Highland Twitter Google+center_img 29 patients waiting on beds at Letterkenny General today WhatsApp Facebook Homepage BannerNews 365 additional cases of Covid-19 in Republic RELATED ARTICLESMORE FROM AUTHOR Pinterest Twitter Man arrested on suspicion of drugs and criminal property offences in Derry Gardai continue to investigate Kilmacrennan firelast_img read more

LIRR trains to the Hamptons and Montauk down Saturday after overnight train derailment

first_imgiStock/WoodysPhotos(NEW YORK) — The Long Island Rail Road (LIRR) suspended all service to the Hamptons and Montauk for Saturday after an overnight work train derailment, the New York Metropolitan Train Authority (MTA) said.The disruption to eastbound service is bound to cause problems for holiday travelers over Memorial Day Weekend, the official start of the summer season for urban beach goers from New York City as well as commuters.A Montauk-bound train that left Manhattan’s Penn Station at 1:09 a.m. Saturday sideswiped a non-revenue train as part of a passing maneuver, the MTA told WABC, suspending train service to the Hamptons and Montauk for at least all of Saturday, LIRR officials said.LIRR service east of Patchogue, including to the Hamptons and Montauk, will be suspended all day – customers should not go to Penn Station, Atlantic Terminal, Jamaica or their local station expecting service to resume east of Patchogue, although regular service to Patchogue and Riverhead remain in effect.The Montauk train traveling at approximately 30 miles per hour sideswiped a non-revenue train on a side track east of Speonk as part of a passing maneuver, MTA officials said.It was due to arrive in Montauk at 4:09 a.m. ET.The engine of the Montauk train and the last car of the non-revenue train derailed, causing extensive damage to the tracks, the MTA said.None of the commuter train’s 32 passengers or LIRR employees suffered any injuries. Copyright © 2019, ABC Radio. All rights reserved.last_img read more


first_imgPeopleOn 8 Aug 2000 in Personnel Today • Mike Higgins has been appointed HR director of Wincanton Logistics. An economics graduate from the University of Manchester, Higgins has held positions in all aspects of HR management at major blue-chip companies, including ICI and Glaxo. In 1993 he was appointed group HR director for the UK and Ireland with German chemical and pharmaceutical multinational Bayer where he initiated a pan-European management development programme. His key priorities at Wincanton will be driving forward technology-enabled training and development capabilities for the firm’s 15,000 staff across more than 200 locations via the company’s intranet.• Alan Pankhurst has been appointed personnel director at Guardian Newspapers.Pankhurst, previously group personnel director for Guardian Media Group, will head GMG’s People Department and will serve the company’s board. He will continue to provide support to Guardian Media Group executives as group personnel adviser. Pankhurst has been a personnel professional for the past 30 years, 22 of which at director level. He was previously personnel director of Central TV and was at the heart of the merger of Central and Carlton. For three years before He joined GMG in February 1998 as a consultant, and was made group personnel director six months later.• Susan Alexander has been appointed HR manager at tortilla chip manufacturer Mission Foods Europe. Alexander will head Mission’s HR team and will have responsibility for the 200-strong administration and factory-based workforce at the production facility. Reporting directly to managing director Nick Houghton, she will be responsible for setting up the company’s employment policies and for instigating team communication channels. Alexander joins Mission from Kettleby Foods – part of the Samworth Brothers Group – which specialises in the production of own-label recipe dishes for UK retailers. Alexander gained experience in web site development working as part of the start-up team at Mission’s Leicester site.• Sue Robinson has been appointed group recruitment manager at IT services company Sanderson. Robinson’s previous role was at Austin Benn consultants in Birmingham where she worked on sales recruitment and business development. She will be responsible for Sanderson’s recruitment across nine offices. A mathematics graduate from the University of Northumbria, Robinson spent four years in the Royal Navy, where she held the position of warfare officer.last_img read more

$75M loan tied to Gramercy Park Hotel sells to anonymous buyer

first_imgThe Gramercy Park Hotel at 2 Lexington Avenue and RFR Realty’s Aby Rosen (Google Maps; Getty)A $75 million loan tied to the Gramercy Park Hotel sold to an anonymous buyer.JPMorgan Chase sold the debt, which has a maximum principal amount of $75 million, to RDAC 8 LLC, according to PincusCo. The loan is secured by the Gramercy Park Hotel.Just last month, Artnet reported that the hotel’s owner, Aby Rosen’s RFR Holding, owes $900,000 in ground lease payments on the property. A notice on the hotel’s door at the time stated that if Rosen does not pay by Dec. 28, his hotel could face eviction. So far, no foreclosure actions have been filed, according to PincusCo.RFR owns the hotel itself, but Solil Management, the firm that manages the estate of Sol Goldman, owns the land underneath. Rosen’s firm pays $5.3 million per year to lease the land.Rosen bought the hotel with hotelier Ian Schrager in 2003. The two redeveloped the property, and Rosen took full ownership in 2010.The hotel had closed its doors to guests at the onset of the pandemic, but Rosen recently said he offered rooms to his employees who live in the suburbs to avoid commuting to the office.“I told everybody, ‘Guys, you want to stay Tuesday night or Wednesday? Be my guest. Breakfast is at 9. Then show up at the office when you feel like it,’ ” Rosen told Bloomberg News.The Gramercy Park Hotel was built on the site where novelist Edith Wharton was born, played host to Humphrey Bogart’s wedding and was home to the young John F. Kennedy and his family. At one time, Babe Ruth was a regular at the hotel’s bar.[PincusCo] — Keith Larsen Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinkcenter_img TagsGramercy Park HotelJPMorganRFR Holdingslast_img read more

Lukoil and Russian Ministry of Energy conclude agreement on measures to support construction of deep oil refining units

first_imgLUKOIL will build a Petroleum Residue Recycling Facility at its Nizhny Novgorod refinery. (Credit: LUKOIL) LUKOIL and the Ministry of Energy of the Russian Federation concluded an agreement that provides for LUKOIL receiving an investment increment to reverse excise tax on oil till January 1, 2031 in order to construct new deep oil refining units at the LUKOIL-Nizhegorodnefteorgsintez LLC, which is a PJSC LUKOIL wholly owned subsidiary.According to the agreement, LUKOIL will build a Petroleum Residue Recycling Facility at its Nizhny Novgorod refinery. The facility will include the following units:a delayed coker with production capacity of 2110 thousand tonnes per year;a combined diesel fuel and gasoline hydrotreater with production capacity of 1500 thousand tonnes per year;a hydrogen production unit with production capacity of 50 thousand normal cubic meters per hour;a gas fractionator with production capacity of 425 thousand tonnes per year;an elemental sulphur and sulphuric acid production unit with production capacity of 81 thousand tonnes in terms of sulphur per year;infrastructure facilities.Construction of the facility is already underway: core long lead equipment is installed; in-site pipelining and piping of equipment are in progress. The facility is set for commissioning in the fourth quarter of 2021.The launch of the facility should allow to decrease annual fuel oil output at the Nizhny Novgorod refinery by 2.6 million tonnes and increase annual Euro-5 diesel fuel output by 0.7 million tonnes. The refinery yield will thus increase to 97%, with light products yield reaching 74%. Implementation of the project will lower LUKOIL Group’s total fuel oil output to less than 4% and increase light products yield to 75%.​”LUKOIL has fully honoured its commitments to modernize refining facilities under its previous agreements with the government. Realization of this new project at the Nizhny Novgorod refinery is a long-term investment aimed at supplying Russian market with high-quality fuel. The facility will reach synergy with the fluid catalytic cracking units already in operation, thus enhancing the output mix of our Nizhny Novgorod refinery,” said Vadim Vorobyov, First Executive Vice President of LUKOIL. Source: Company Press Releaselast_img read more

Threat of T’Storms Possible for Night In Venice

first_imgIt’s that time of year again for the annual Night in Venice and we will be crossing our fingers hoping the weather will cooperate the parade and fireworks. The good news is that temperatures on Saturday will not be as hot, but high humidity remains. The bad news is that we run the risk of the potential of severe t’storms Saturday night.NOAA: Risk for severe storms are possible for Saturday.It will be a great beach day, however, as we are looking dry with light southeast winds. Temperatures will be topping off in the mid 80s. UV Index will be very high again, so use the sunblock. Surf will be around 3 feet with water temperatures in the mid to upper 70s.A disturbance will be sliding into our region later in the day which will bring the chance of scattered showers and t’storms. T’storms could produce very heavy rain, frequent lightning and strong wind gusts.Computer models show scattered showers/t’storms across parts of New Jersey after 7pm. ( Sunday, we continue the risk of scattered showers and t’storms as a frontal boundary hangs across the Northeastern U.S. Any clouds and showers during the morning or early afternoon could keep temperatures down a bit. Highs should reach the low 80s.Computer models show a batch of showers/t’storm possible during the morning/early afternoon on Sunday. ( read more