Iran’s president inaugurates new gas projects

This Saturday, March 16, 2019 photo, shows a natural gas refinery at the South Pars gas field on the northern coast of the Persian Gulf, in Asaluyeh, Iran. (AP)
Updated 17 March 2019
0

Iran’s president inaugurates new gas projects

  • CEO of the South Pars gas field company says the development will allow Iran to overtake Qatar in the production of natural gas
  • Rouhani presided over the inauguration of four projects with a total annual investment of $5 billion

TEHRAN: Iran’s President Hassan Rouhani has inaugurated a new phase in the development of a massive natural gas field.
State TV on Sunday quoted the CEO of the South Pars gas field company, Mohammad Meshkinfam, as saying the development will allow Iran to overtake Qatar in the production of natural gas. The two countries are among the biggest gas producers in the world, and share the South Pars gas field, which is beneath the Arabian Gulf.
Rouhani presided over the inauguration of four projects with a total annual investment of $5 billion. Each will produce an additional 56 million cubic meters of natural gas and 75,000 barrels of condensate per day.
Iran currently produces more than 600 million cubic meters of gas and 200,000 barrels of condensate per day.


Twitter triples first-quarter profit to $191 million

Updated 4 min 3 sec ago
0

Twitter triples first-quarter profit to $191 million

  • Profits in the first quarter hit $191 million, compared with $61 million a year earlier
  • The longstanding metric of monthly active users was 330 million in the January-March period

WASHINGTON: Twitter said Tuesday its profits tripled in the past quarter even as it ramped up efforts to root out abuse and misconduct on its short messaging platform.
Profits in the first quarter hit $191 million, compared with $61 million a year earlier, while revenues increased 18 percent to $787 million.
Twitter’s global user base appeared to show modest growth even as the company transitions to a different way of measuring it.
The longstanding metric of monthly active users was 330 million in the January-March period, an increase of nine million from the past quarter but down slightly from a year ago.
But Twitter no longer will use that measure, switching instead to “monetizable” daily active users — 134 million in the past quarter, up from 120 million last year.
Chief executive Jack Dorsey said Twitter is benefiting from its moves to root out abusive and inauthentic content that had hurt Twitter’s reputation.
“We are taking a more proactive approach to reducing abuse and its effects on Twitter,” said Dorsey.
“We are reducing the burden on victims and, where possible, taking action before abuse is reported.”
He added that Twitter aims to become “more conversational” and has launched a prototype for a new app called “twttr,” with the goal of “making conversation on Twitter feel faster, more fluid and more fun.”