ADNOC to explore Collaboration Opportunities through the Framework Agreement with Saudi Aramco

A framework agreement was signed by the Abu Dhabi National Oil Company (ADNOC) and Saudi Aramco (Aramco). With this agreement the company aims to discover the synergy between Liquefied Natural Gas (LNG) and natural gas industries.

The framework agreement would enable the two companies to gain more revenue for the two segments. With this deal the companies showcase their strategic focus towards generating greater revenue from the LNG business and natural gas business domain. According to a statement the collaboration will enable exchange of information, experience, and knowledge in the growing LNG market and the companies would partner on techno-economic feasibility studies.

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State, said that the UAE has a strong relationship with the Kingdom of Saudi Arabia. This relationship is based on the their mutual strategic interests and with the growing cooperation between Saudi Aramco and ADNOC would ensure increased energy security and economic prosperity for a both nations for a long period of time, he added.

Saudi Aramco President and CEO, Amin Nasser said that the Aramco’s deal with ADNOC strengthens even further with the recent decision of developing a major refinery in India, which is done in partnership. The framework agreement and the mutual strategic interests of expanding their gas business emphasizes their belief in a robust demand growth for gas globally. The corporate transformation strategy of pursuing opportunities which assist in tapping the greater value for both Saudi Aramco and ADNOC and for meeting the needs of its stakeholders across the globe is further supported by their cooperation, he added.

Before the companies signed this agreement, Supreme Petroleum Council of Abu Dhabi (SPC) accepted the new gas strategy proposed by ADNOC that would sustain the production of LNG to 2040, allowing ADNOC to capture incremental growth opportunities in gas-to-chemicals and LNG, where they are developed from the evolving energy mix and dynamic demand and supply position of UAE. With this the company could discover investment opportunities in LNG and produce more value from the international trading expansion in the LNG segment. This will become more prominent with the dominance of the Asian market that would trigger the LNG demand.

The growing investments and partnerships in the natural gas and LNG segment foster the overall growth of the oil and gas sector. These partnerships would offer greater opportunities for the other companies thereby influencing the whole industry.

Deep Green Technology to Be Installed in Faroe Islands: DG 100 model

A deal was cracked between Faroese Power Company SEV and Minesto for installing tidal kite technology. This innovative technology will be installed in waters that are surrounding Faroe Islands. The deal holistically encompasses the operation, commissioning and installation of the two DG100 models of Minesto. Faroese Power Company SEV has also planned to acquire the electricity produced by kite technology by means of power purchase agreement.

SEV will be delivering infrastructures such as the grid connection as well as resources for yielding processes. CEO of Minesto, Martin Edlund had lately mentioned that their kite technology can benefit Faroese Power Company SEV with affordable and predictable means of clean energy along with extreme potential hold for transforming Faroe Islands into 100% renewable energy before the end of 2030.

DG 100 Model to Hype Revenue Sales of Minesto

DG 100 model, is Minesto’s subsea kite technology that weights between 1-2 tons and consists of a wing span that is 4-6meters and has a power rating of nearly 100Kilowatts. The kite technology by Minesto helps in harnessing underwater current that generates hydrodynamic lift force over the wings, thereby pushing it upwards. There is a rudder that steers kite in the figure of eight trajectory plus, as it “flies”, the water flows form the turbine that produces electricity.

CEO of SEV, Hakun Djurhuus had stated that being in remote island society eliminates their privilege of buying electricity from the neighboring nations. Considering the crucial circumstances, the company has taken immense efforts in carrying out tidal stream capacities, as this tidal energy being developed at the appropriate cost level would turn out to be a notable move in the long run for catering to the forthcoming hardships.

The kite technology of Minesto is set to be installed at a site in Vestmannasund that is located in the strait of North-West Faroe Islands. The initial unit is expected to be installed by 2019-end or by first quarter of 2020 and the second unit is likely to be installed before 2020-end.

 

EU Viewpoint on Ocean Energy

The European Commission is of the viewpoint that the “ocean energy” is highly renewable and abundant. EU further anticipates that ocean energy would potentially contribute nearly 10% of the power demand of European Union by 2050. The new technology would benefit in harvesting of energy from the tidal currents and low velocity ocean, thereby multiplying the potential of marine energy. This hydrodynamic principle-based kite technology is highly beneficial for beefing up operational purposes.

US Sanctions on Iran Could Unsettle the Oil Landscape

Oil Experts believe otherwise. Say sufficient world supplies could keep prices under check

Several months after the US President Donald Trump signed an executive memorandum to withdraw from the Iran nuclear deal, the recent economic sanctions on Iran’s oil exports along with nation’s aviation, shipping, and banking industries are expected to have quite notable implications on not just the world energy markets and the overall financial business landscape, but also on Iran’s Middle-Eastern geopolitics. But much above that, also lies the risk of jeopardizing the relationship young Iranians have with America. In the early week of November, the US administration reinstated its ‘multi-purpose’ sanctions in the hope that Tehran would accept an improved nuclear deal, restrict Tehran’s ballistic missiles program, and end hostility of some regional groups.

Apart from controlling Iran’s oils, banks, and ports, the economic sanctions has also threatened Iran of excluding it from the America’s financial systems if the nation trades to support the Iranian oil exports. Moreover, US’s the famous exit from Joint Comprehensive Plan of Action (JCPOA) in May 2018, is unlikely to return to normality in spite of a Democratic majority in the House of Representatives, Iran’s economy has felt the pressure, with revenue down by almost US$2 Billion and the Iranian Rial, down almost 75 percent since 2017, compared to the US dollar.

The economic sanctions—being termed hawkish by some strong political forces—are projected to translate into much adverse and aggressive Iranian behavior, the most prominent being oil exports and supplies.

Skewed Oil Supply Remains a Concern after US Sanctions on the Islamic Economy

As soon as the Trump administration withdrew from the Iran’s nuclear deal, oil market experts were quick to see the many implication this ruling would have on the global oil and gas market. Already facing the heat of the economic sanction, Iran’s oil exports have significantly fallen to 1.5 million barrels per day (bpd) from a daily average of 2.5 million bpd. This means that Iran the supply is much lesser—nearly 1 million bpd, than what the nation exported a few months back. As per Reuter’s latest report, oil is currently being traded at over UD$70 per barrel, after Saudi Arabia’s decision to cut their output by 0.5 million bpd in December was announced, which came after the Organization of the Petroleum Exporting Countries (OPEC+) meeting in Abu Dhabi. The Trump administration felt the pressure of Saudi Arabia’s new likely strategies to cut oil output that further translated into softened sanctions for China, India, South Korea, Japan, Taiwan, Greece, and Turkey. Earlier this week, the President of United States, through a tweet, warned OPEC against reducing oil production. In the tweet, the President also mentioned that the “oil prices must be lowered based on supply”. To keep the oil supplies flourishing, Trump’s last hope remains in Saudi Arabia and assuage further impact of its sanctions on Iran. However, Asian heavyweights like India, Japan, South Korea, and China being allowed to purchase Iranian crude oil is just a short-term fix (six-monthly basis), to ensure temporary trade flows between Iran and Asian nations.

Oil traders have definitely been calmed by the waiver, letting Iran export oil to European and Asian countries. However, in the prospects of tightening oil supplies, the eight waivered countries could seek supplier alternatives and replace Iranian crude. This scenario also resulted in more oil being pumped by producers. A result of which of oils barrels being replaced by producers from Saudi Arabia, US, and Russia. The America oil exports are expected to increases owing to the new pipelines and export terminals along the Gulf of Mexico and in Texas.

In the developed economies, oil experts anticipate further tightening of oil supplies during next summer, translating into higher oil prices. The aviation industry could also take a hit as a result of the rising aviation fuel prices, which often is offloaded on the air travelers. Experts also foresee significant increase in oil price, if Iran decides to block the important passage for Persian Gulf oil- the Strait of Hormuz. Furthermore, military or cyberattacks on Saudi Arabia and Israel and escalating military hostilities in Yemen, could block many crucial oil trade points.

The oil market’s future could also be defined by how well Iran evades these sanctions, considering the technological advancements like satellites that can be used to track oil tankers with turned-off Automatic Information System—removing them from the monitoring radar. Furthermore, the challenge also lies in receiving payments for the Iranian crude. Oil sales is likely to slow down if US deploys its SWIFT banking exchange system to penalize importers buying Iranian crude.

Sanctions to Remain Powerful Only When Other Powerful Allies are Onboard

The US economic sanctions are a powerful weapon—in some cases, the most powerful among all world superpowers. In the recent time, US’s aim to make use of the sanctions all alone, could work against it and also, to an unimaginable extent dilute its significance, if the Trump administration continues to go head with a this approach. The sanctions, if not pursued in coordination with other superpowers including EU, South Korea, and Japan, could have larger implications on the global international trade landscape, financial markets, and of course, currency trading.

The EU, for instance, is seeking to set up a special financial clearing system, in the form of Special Purpose Vehicle (SPV), for Iran and businesses. The immediate goal is of these SPVs is definitely to rescue Iran from the clutches of Washington, but in the years to come, these systems are also projected to prove beneficial for other sanctioned nations including China and Russia, and offer a level-playing field outside the America-ruled system. The setting up of these SPV, although seems much complicated considering the challenges to banks, governments, and global businesses, are a result of the single-handed use of sanction by Washington. However, the National Security Advisor of US, John Bolton recently said that the EU’s efforts evade sanctions on Iran “may be ineffective”.

 

Guidelines on the Use of Instant Messaging Apps in Healthcare Issued by UK’s National Health Service

The United Kingdom’s state run National Health Service has issued updates on the guidelines for their staff on the usage of instant messaging apps and programs by certified clinicians that are to be followed in settings for acute care, to maintain established privacy policies in regards to patient data.

With the NHS recognizing the need for instant messaging software, especially in emergency situations which require quick response, making them an essential aspect of the NHS tools, matching compliance with confidentiality regulations is seeing increasing importance.

Controversial Findings in Common Time Report Set Off NHS Move

The guidelines were put forth by the NHS following the release of findings in a CommonTime healthcare report on the subject, which found that a vast number NHS staff rely greatly on apps including iMessage, WhatsApp, and Facebook Messenger. Also, a number of trusts associated to the National Health Service did not have any policies about the use of messaging apps including WhatsApp and Facebook Messenger. The report also stated that more than 95% of practicing clinicians used these messaging apps to receive and transmit potentially confidential patient data without any security measures in place.

In response to the findings of the CommonTime report, the NHS has set up guidelines to help healthcare practitioners within the UK to determine whether an instant messaging app is appropriate to use for healthcare purposes. These steps aim to protect healthcare practitioners from regulatory investigations regarding the safeguards on patient confidentiality.

Andrew Miles, who is a consultant general surgeon and a Royal College of Surgeons Council Member, stated that: “Patient safety is enhanced when NHS staff can quickly communicate confidential patient information between teams, such as by instant messaging.”

Patient Data Confidentiality Policies to Structure Guidelines

Some of the things that clinicians need to check in an app are end-user verification, pre-set standards of encryption, and password protection among others. In addition, the app needs to have capabilities for remote data wipes and auto deletion of messages after pre-set times, in cases of theft or loss of device.

The guidelines also include a number of specific standards for the use of apps, including the transmission to information to the right person or group and the regular review of group membership, to eliminate chances of miscommunication from similar names in address books.

NHS staff also has to keep notifications from popping up on a locked screen, not share access of the mobile device, while keeping clinical records separately, and deleted messages after the transcription process is complete. Staff must remember that conversations held on instant messaging platforms can be subject to requests under the Freedom of Information Act.

In addition to this, the guidelines state that instant messaging apps being used by healthcare practitioners cannot be permitted to connect with social media or photo libraries of the user’s device. Two-factor authentication is also pushed to be mandatory for such apps. The use of third party instant messaging apps is to be permitted only if the healthcare organization does not provide an appropriate alternative for use. At present, more than 50% do not offer any suitable alternative.

The guidelines are strong on emphasizing that they are not endorsing any particular instant messaging app service, but that the focus is on what clinicians must keep in mind when looking to use instant messaging apps on mobiles.

These measures are anticipated to protect healthcare organizations associated with the NHS from threats such as the WannaCry attack of 2017, which resulted in the loss of 10,000 records of patients registered in the NHS at the time.

Walgreens Boots Alliance to Take Part in the Credit Suisse Conference of Healthcare

The Walgreens Boots Alliance has announced that company leaders including Global Chief Financial Officer and Executive Vice President James Kehoe will be taking part in the 27th Annual Healthcare Conference of Credit Suisse on Wednesday November 14, at The Phoenician, in Scottsdale Arizona. The audio feed for the appearance of the Walgreens Boots Alliance representative at the conference will be webcast live and will be further accessible anytime at the Walgreens investor relations website.

As one of the largest retail pharmacy players in the United States and Europe for healthy living destinations, the Walgreens Boots Alliance is currently valued at approximately 78.25Bn. The healthcare business entity and the various companies in which it has investments of equity has created a strategic and  geographic presence in more than twenty five countries, and has a vast workforce of over 415,000 employees. The extensive brand portfolio of Walgreens Boots Alliance includes industry segment leaders such as Boots and Alliance Healthcare, Liz Earle, Botanics, Duane Reade, and Walgreens.

The company is a global level leader in the health and pharmacy retail sector, and along with its investments in equity, the Walgreens Boots Alliance consistently makes the largest purchases of health and well-being products along with prescription medications, to run its immense distribution and wholesale networks. Walgreens Boots Alliance is responsible for the operations of more than 18,000 stores in 11 nations through approximately 390 large-scale distribution centers that provide products and services to nearly 250,000 healthcare centers, hospitals, pharmacies in a number of countries around the globe.

The discussion is anticipated to focus upon social responsibility and sustainable business initiatives on an international scale that can have a positive impact on the well-being of people worldwide. Attended by eminent healthcare, financial, political and economic experts, the Credit Suisse conference brings together a number of business leaders and entrepreneurs. The aim of the event is to acquire access to capital investments and opportunities with clearly stated returns, actionable insights, and ideation that can influence the future.

Credit Suisse is a Switzerland-based multinational banking and financial services company, with offices in major financial centers worldwide. The company provides a full set of logistics and consulting products and services to bring together collaborations of corporate clients and institutional investors around the world. They conduct events that range from industry-specific conferences, sector-relevant roadshows, events collaborating with industry experts, and more.

Spin, the Electric Scooter Firm Acquired By Ford

Ford Smart Mobility, LLC announced the acquisition of Spin—San Francisco-based electric scooter sharing company, which offers its customers the first- and last-mile transportation solution. The acquisition is a recent strategic action taken by Ford to solidify its hold on the mobility space. The company focuses on building a mobility portfolio that would allow its customers to find place in a simpler, faster, and cost-effective way. Joining the micro-mobility avenue would provide the company an enhanced acceleration in business while catering to customer needs.

Spin acquisition would help Ford X, a division within Ford Smart Mobility, LLC that aims to pilot, develop, and acquire new products and services in the transportation sector. Ford seems to look forward to the acquisition of Spin that has made its electric scooters available in five college campuses in the United States and across nine cities. With this acquisition deal, Ford could successfully expand its reach in the scooter business.

With the increasing mobility alternatives that are accessible for customers, it is observed that people utilize several forms of commute for a single trip. The mobility sector, therefore, requires companies to keep pace with the changing needs of the customers. Ford, strives to reflect these necessary transformations into its offerings. With this aim, Ford has turned to scooters that offers equitable last mile transport owing to the affordable solutions. Moreover, with the capabilities of reducing traffic congestion, pollution, and limitations in parking facilities, electric scooters are in for a promising future, in the coming years.

The company stated in a statement that as consumers across the world consider scooters as a feasible alternative for mobility, Ford recognizes it as a significant chance to work along with Spin. The acquisition of the dock-less Scooter Company would be a crucial step towards recognizing their strategy for the prospects of urban mobility, where the company, through its subsidiary known as ‘Jelly’, has already entered the electric scooter rental business recently.

Owing to the changing face of mobility, other manufacturers and automakers are also seen leveraging the potential reflected by this industry. In recent times, another leading automaker, General Motors Co had given a hint of its plan of introducing electric bicycles in the year 2019, although there was no such plan of entering electric scooter domain revealed. With these scenarios, the prevalence of energy-efficient transportation becomes even more evident.

Advanced Smart Sewer Technology to Boom up Stance in Gawler

SA Water, business enterprise wholly owned by Government of South Australia, is undertaking a new trial of the advanced smart sewer technology for $5 million. This trial is mainly taken out for reducing impacts and incidences of the sewerage network errors on its wider community and existing as well as emerging customers. Smells penetrating out of the sewerage networks would be monitored by the new 88 odour detection sensors as well as 10 weather stations for building greater understanding of the odour movement and behavior. It also helps in improving the proactive management of issues over time.

 SA Water to be the First Technology User

SA Water had mentioned that the focus of North Township of Adelaide is to improve the odour management, where detectable levels are consistently above average in various areas of the town. SA Water is considered as the former Australian water utilities for using technology in an in-depth whole of the suburb approach.

According to Peter Seltsikas, Asset Management’s Senior Manager had mentioned that the main aim of utilizing this smart sewer technology is to limit the amount of odour emission affecting the nearby residents. He further mentioned that the vent stacks in the smart sewer technology pulls in fresh air, thereby extending life of pipes. Weather stations are expected to highly benefit in monitoring climatic conditions such as air temperature and wind direction, thereby impacting on the movement of odour.

Forward-Looking Expansion Plans by SA Water

SA Water is also planning to pilot their smart wastewater network, which is located at Stonyfell, in Adelaide foothills. The company has been focusing on monitoring of sewage movement by means of level and flow sensors. This in turn helps in detecting pipe blockages as well as prevents overflows.

Development of the two pilots are also a part of smart water network expansion of SA Water towards Port Lincoln, Penneshaw, North Adelaide, and Athelstone. Success rate of this smart sewer technology is expected to substantially increase the company’s wastewater operations in the forthcoming years. Technological built between wastewater and water networks, which is considered as a leading analytics platform along with expertise in smart network is likely to help SA Water with enhanced customer experience.

Globally, the water industry has been witnessing a successful journey towards digital transformation. Smart water solutions help in improving the operating efficiencies, thereby driving the capital of the technological world. Private equities are witnessing opportunities in the smart water industry with increasing number of smart water M&A.

Apart from this, SA Water has been planning to make heavy investments of nearly $9 million throughout the roll out of company’s extensive smart wastewater and water networks. Installation of each equipment is ongoing as well as planned for transmitting near the real-time information. All the exclusive operations are expected to be in place by 2019.

Ola to Foray in the New Zealand Market

A recognized rideshare service provider, Ola announced on November 6 that it would extend its offerings in Wellington, Auckland, and Christchurch and mark its entry in New Zealand. The passengers in New Zealand would enjoy a discount of 50 percent off on their rides for the initial first month.

Brian Dewil, the New Zealand Country Manager, Ola stated that Ola foraying into New Zealand is a significant action for Ola in the New Zealand’s ridesharing industry. The drivers across Wellington, Auckland, and Christchurch have provided a cordial feedback to the company. With engaging drivers along the reliable platform, the company is excited to enter into New Zealand, providing the passengers with a new alternative to commute conveniently within the cities, added Brian.

This action was partially announced previously by the Bengaluru-based ridesharing company when Ola was inviting New Zealand’s private vehicle owners to obtain more information about registrations with Ola by visiting the website. With this action, the company ensured the drivers to witness market benefits at an initial 9 percent commercial rate.

The passengers in New Zealand can register rides in a very simplified way. By downloading the Ola app from iOS App store or Google Play store and registering an account the customers can easily book rides. The company plans to improve and provide enhancements to the app after the initial launch phase, as the Ola team would constantly keep track of the customer feedback for advancing the ridesharing experience and offering new offers and promotions. The company aims to leave no stone unturned while delivering great service to the customers.

Followed by its successful operational entry in the United Kingdom and Australia earlier this year, the New Zealand foray would significantly showcase its acceleration into the international market. Ola has already completed 2 million rides in Australia and presently operates with more than 50,000 drivers across seven cities in there. The New Zealand entry showcases as a calculated move for the company as it could enable the company to modify its business model for rightly fitting the requirements of the customers across the globe.

This entry into another international market is expected to boost Ola’s ridesharing services business thereby opening new growth avenues in the ridesharing industry. With this move, the company is strengthening its position as a ridesharing service provider while tackling prominent market competitors such as Ola.

New MyDoc Platform from Singapore Touted to Be Great Cost Saver for Asia’s Healthcare Sector

Singapore-based health technology startup MyDoc has been focusing on healthcare management solutions for large enterprises since its inception in 2014. Its value-based suite of products allows employees to consult doctors through video chat, get online prescriptions, avail chronic disease management programs, get referrals for specialists and even gives access to insurance information. This integrates every aspect of healthcare by bringing together healthcare professionals, patients, employers, insurance companies and pharmacies round the clock throughout the year, thereby saving time and money.

Research done by senior economists at the University of Southern California, Center for Economic and Social Research now claims that the use of the platform by companies across Asia has the potential of reducing healthcare costs in the region by at least 16 % and as high as 28% (USD 540 billion) out of a current US$ 2.7 trillion. At present the annual healthcare expenditure in Asia is predicted to grow at around 8% till the end of 2020.

MyDoc has already joined hands with a number of Fortune 500 companies in Malaysia, Singapore and Hong Kong and some of the key market players in the insurance industry including Aetna, Cigna, and AIA, and is in discussion with many more players in the region.

MyDoc’s proprietary artificial intelligence platform called Pixi, can create a comprehensive picture of a patient’s health, through the combined efforts of human experts and cognitive computing systems to improve on diagnosis and take preventive action against illnesses, giving a more personalized healthcare experience. The system effectively directs human healthcare teams to gain safer co-ordination to ease of moving patients for a customized care procedure for each patient.

The AI system is specially designed to use data from health screenings and internet-of-things devices along with personal inputs by patients pre-fed health risk data sets to reduce errors occurring from preconceived ideas and biases and decide on the urgency of treatment on a case by case basis. The system can be used for a wide range of ailments from common cough and cold to life-threatening diseases.

The research claims that the MyDoc platform improves on patient engagement rates by up to 8 times, and saving 3 hours of time for every patient’s consultation, while seeing return user rate of over 90% in comparison to other leading markets such as that of the United States. This has been made possible by converting the conventional complicated and expensive healthcare process, to a simplified and personal continuous care platform.

Healthcare Industry on High Alert as Drug-Resistant ‘Superbugs’ Pose Significant Threat

European Union’s wide-ranging team of doctors recently discovered dozen of antibiotic drug resistant bacteria, after which they developed an estimate of five bug types that can lead to substantial death and infection rates. The team found out that according to 2015 stats, over 6, 70,000 individuals were ill and nearly 33,110 met with death. They also revealed that this death burden was equal to cumulative death burden of HIV, tuberculosis and influenza.

As per the study, there are higher possibilities that millions of people across Australia, North America and Europe succumb to tuberculosis, staph infection, and gonorrhea to name a few, due to superbug infections in the long run. For which, countries are likely to take crucial steps for prioritizing to fight against the constant threat that is posed by the bacteria immune to several known drugs. Middle and low-income regions are witnessing increased resistance. For instance, in Russia, Brazil and Indonesia, nearly 60% bacterial infections are strongly resistant to minimum of one antibiotic.

Notable Revelations by OECD

The OECD (Organization for Economic Co-operation and Development) has declared warning of dreadful consequences for the public healthcare as well as spending, however considering circumstances are expected to arise only in cases of increased extreme hospital hygiene and elimination of usage of unnecessary antibiotics. OECD is of the point of view that by 200, there are substantial chances of death rate increasing to 2.4million due to consumption of superbugs. In addition, OECD had mentioned that superbugs treating costs would boost to approximately $3.5Billion per year in every country, inclusive of its analysis.

The OECD public health lead, Michele Cecchini, had stated recently that every country has been spending nearly 10% of healthcare budget on the treatment of AMR (antimicrobial-resistant) bugs. The notable point is that this AMR costs comparatively more than the treatment of flu, tuberculosis and HIV.

Lack of Awareness Leading to Null Effect

Lack of awareness is leading to humans consume more antibiotics per day by means of prescriptions to stave off the infections. This in turn leads to growing development of bacteria that stimulates in resisting drug effect created for killing them. However, researchers are finding out significant ways to dive out solutions to fight resistance with quicker and better testing for determining if each infection is viral. The new swab tests is expected to dent the overuse of antibiotics in the long, thereby benefitting the healthcare industry with positive growth prospects.

With soaring consumption of antibiotics across the globe, doctors are alarming over the multi drug-resistant bacteria strains. Increasing need for patient safety and burgeoning demand for the alternative treatment options is expected to create significant and immediate opportunities for the healthcare industry.