UAE’s Crescent Petroleum says it will more than double Iraq gas output in 3 years

Crescent Petroleum plans to raise natural gas output at its Pearl Petroleum venture in northern Iraq by 80 million cubic feet per day by October. (Courtesy Crescent Petroleum)
Updated 08 February 2018
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UAE’s Crescent Petroleum says it will more than double Iraq gas output in 3 years

ABU DHABI: UAE-based energy firm Crescent Petroleum plans to raise natural gas output at its Pearl Petroleum venture in northern Iraq by 80 million cubic feet per day by October, and by 500 million cfd within three years, the company’s president said on Thursday.
Badr Jafar, speaking at a business conference, said Crescent was also keen to engage in the oil and gas sector in the south of Iraq. Pearl currently produces 330 million cfd of gas and 20,000 barrels per day of condensate in northern Iraq, he said.
Pearl is owned 35 percent by Crescent Petroleum, 35 percent by Crescent’s affiliate Dana Gas, 10 percent by Austria’s OMV, 10 percent by Germany’s RWE, and 10 percent by Hungary’s MOL.
Jafar also said that Gulftainer, a privately owned port management and logistics company based in the UAE, which he chairs, aimed to close an acquisition on the US East Coast this year.
If the acquisition closes successfully, Gulftainer will invest an additional $350 million over 10 years in the US, over and above the company’s plans at Canaveral Container Terminal, he said. Gulftainer currently operates eight terminals worldwide including one in the US.


Researchers find new security flaw in Intel chips

Updated 15 August 2018
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Researchers find new security flaw in Intel chips

WASHINGTON: Researchers have discovered a new security flaw that could let hackers pry information from supposedly secure virtual vaults in Intel chips, the company warned on Tuesday.
Intel said software updates are already available and it did not appear anyone had taken advantage of the “Foreshadow” vulnerability, which has been likened to troubling “Meltdown” and “Spectre” flaws exposed in computer chips early this year.
“If used for malicious purposes, this class of vulnerability has the potential to improperly infer data values from multiple types of computing devices,” Intel said on its website.
“Intel has worked with operating system vendors, equipment manufacturers, and other ecosystem partners to develop platform firmware and software updates that can help protect systems from these methods,” it said.
The “Meltdown” and “Spectre” flaws roiled the Silicon Valley chip maker, prompting a series of lawsuits and a congressional inquiry about Intel’s handling of the matter
“We are not aware of reports that any of these methods have been used in real-world exploits, but this further underscores the need for everyone to adhere to security best practices,” Intel executive vice president and general manager of product assurance and security said of “Foreshadow” in a post on Intel’s website.
“Once systems are updated, we expect the risk to consumer and enterprise users running non-virtualized operating systems will be low.”