🇵🇪🇨🇳 Peru port conflict escalates as Chinese firm insists on original terms

The Chinese state-owned company at the center of a dispute over operations of a megaport it is building on Peru's Pacific coast insisted on Tuesday on terms agreed with the government, as some local officials have sought to backtrack on the deal.

Hong Kong-based Cosco Shipping Ports will defend its legal rights to provide services as the exclusive operator of the deepwater Chancay Port Terminal under "terms that were agreed at the beginning of this investment," the firm said in a statement.

Cosco added that the legal controversy has harmed the project and cautioned against imposing new rules on ports that some regulators have said they might consider.

🔎 Source
#Peru #China

☠️ Blood Meridian

3-Day Forecast Issued: 2024 May 10 1230 UTC
# Prepared by the U.S. Dept. of Commerce, NOAA, Space Weather Prediction Center
#
A. NOAA Geomagnetic Activity Observation and Forecast

The greatest observed 3 hr Kp over the past 24 hours was 3 (below NOAA
Scale levels).
The greatest expected 3 hr Kp for May 10-May 12 2024 is 8.33 (NOAA Scale
G4).

NOAA Kp index breakdown May 10-May 12 2024

May 10 May 11 May 12
00-03UT 3.00 5.33 (G1) 4.67 (G1)
03-06UT 3.00 7.00 (G3) 5.67 (G2)
06-09UT 2.67 8.33 (G4) 4.67 (G1)
09-12UT 2.33 6.67 (G3) 4.00
12-15UT 2.67 5.67 (G2) 3.67
15-18UT 3.67 5.00 (G1) 2.67
18-21UT 4.33 4.67 (G1) 2.67
21-00UT 5.33 (G1) 4.33 3.67

Rationale: G1-2 (Minor-Moderate) geomagnetic storming is likely on 10-12
May due to multiple CMEs from AR 3634 spanning 08-10 May.

G3 (Strong) to G4 (Severe or greater) geomagnetic storming is likely on 11 May as the bulk of the activity is expected to arrive during the early hours of the UTC day.

https://www.swpc.noaa.gov/content/education-and-outreach

🇦🇷🇪🇨Petrochemical Comodoro Rivadavia Discovers Oil in Block 90-Sahino, Southwest Ecuador

Argentina's Petrochemical Comodoro Rivadavia, via its subsidiary PCR Ecuador, has made a significant oil discovery in Block 90-Sahino in southwest Ecuador. The company intends to conduct extended testing for 90 days to assess the potential of the discovery.

The exploration efforts were carried out by drilling wells VHR Sur 01, VHR SUR 02, and VHR SUR 03. Subsequent testing confirmed the presence of hydrocarbons in well VHR SUR 01. Specifically, the upper U formation yielded 2,095 barrels of oil per day (bopd) after 72 hours of testing, while the lower U formation produced a total of 2,362 bopd after 75 hours of testing.

PCR Ecuador plans to complete the testing of the second and third wells as part of a $40 million exploration package.

#Argentina #Ecuador
@songofoil