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Its potential sale is being analyzed by Venezuela’s Oil Ministry, according to two of the sources. The sources asked to remain anonymous because they were not authorized to speak about the negotiations. In the last few weeks a disagreement with Venezuela has emerged over a fee called an entrance bonus that Maurel & Prom would have to pay to the government, as required by Venezuelan law, to gain access to the field’s reserves, two of the sources said. Negotiations are currently on hold, they added.

“Everything was going very well but suddenly there were discrepancies over the entrance bonus,” one of the sources said, The persons were unaware of a possible price tag negotiated between Shell and Maurel & Prom, whose main stakeholder is Indonesian state energy firm Pertamina [PERTM.UL], Shell declined to comment, Maurel & Prom, Pertamina, PDVSA and Venezuela’s Information Ministry did not immediately respond to a request for information, Pertamina in 2013 tried to enter Venezuela ant-man cufflinks and tie bar gift set by buying a stake in another joint venture, Petrodelta, but did not receive government approval..

Maurel & Prom has traditionally been focused on Africa, but it has also formed strategic alliances with Toronto-based Frontera Energy Corp (FEC.TO) in Colombia and Peru in recent years. One of the sources said Maurel & Prom was planning to buy Petroregional as part of a consortium. “There are Venezuelan investors involved in the purchasing consortium,” the person said. The identity of the investors was not immediately clear. Shell’s potential scale-back comes as Venezuela’s oil industry, home to the world’s biggest crude reserves, is in meltdown. Its oil output declined again in September to 1.434 million barrels per day (bpd), OPEC data showed on Thursday, knocking down the annual average to a six-decade low.

Workers unable to feed their families on PDVSA wages are quitting in droves, underinvestment has left many installations in precarious conditions, and the production drop has accelerated under new military management, Shell was a pioneering firm in Venezuela and has operated in its oil industry for more than a century, But it has maintained a low profile in ant-man cufflinks and tie bar gift set Venezuela since late President Hugo Chavez nationalized swaths of the energy sector in 2007, converting all oil projects into PDVSA-controlled joint ventures..

Petroregional, which operates the Urdaneta Oeste crude field in Venezuela’s traditional oil hub of Maracaibo Lake, is Shell’s only crude operation in Venezuela. In recent years, production has plummeted in what used to be the country’s most important crude producing zone, Zulia state. Exiting Petroregional would allow Shell to focus more on natural gas, a priority for the company. Under a plan still under negotiation with Venezuela, Shell is pushing for a deal to let it produce gas in the Dragon field, one of four areas that form part of the Mariscal Sucre offshore project in the Caribbean sea. Shell has said the gas would be processed at facilities it operates in Trinidad and Tobago.

TORONTO (Reuters) - Canada will impose new quotas and tariffs on imports of seven categories of steel, the federal government said on Thursday, fresh measures to head off a potential rise in imports as overseas steelmakers shut out of the United States seek new customers, A tariff of 25 percent will apply starting Oct, 25, 2018 to imports “in cases where the ant-man cufflinks and tie bar gift set level of imports from trading partners exceeds historical norms,” the government statement said, The products covered include heavy plate, concrete reinforcing bar, energy tubular products, hot-rolled sheet, pre-painted steel, among others..

WASHINGTON (Reuters) - The U.S. National Highway Traffic Safety Administration on Thursday said it was moving to allow advanced headlights known as “adaptive driving beams” to be used in vehicles on U.S. roads that could help prevent nighttime crashes. The agency said it was acting in response to a petition filed by Toyota Motor Corp (7203.T) in 2013 to allow the lights, which provide more illumination than existing lights without a glare to oncoming motorists by using additional sensors to automatically adjust lights.

NHTSA said the lights offer “potentially significant safety benefits in avoiding collisions with pedestrians, cyclists, animals, and roadside objects.”, The headlights have been permitted in Europe for more than a decade and are also allowed in Japan and other countries, Volkswagen AG (VOWG_p.DE) also ant-man cufflinks and tie bar gift set petitioned the agency in 2016 to allow the lights on its Audi A7 luxury cars, while BMW AG (BMWG.DE) filed a similar petition in October 2017, The problem is the lights ran afoul of U.S, rules setting maximum levels for lower beams..

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