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“It allows us to drill the right wells, drill wells at lower costs, drill wells in the best part of the reservoir, drill fewer wells,” Etgen said. The costs of the technology are a fraction of BP’s oil and gas production budget of around $12 billion per year. An FWI survey costs up to $20 million to carry out, while processing the data costs up to $10 million, Etgen told Reuters. The annual spend on the super-computer that runs the software is about $20 million. “The companies that are investing in technology are coming through and winning the race,” Henry Morris, technical director at independent North Sea-focused explorer Azinor Catalyst.
“That’s where BP are doing a good job, It’s working.”, Seeing through salt layers with confidence “adds real value” and saves companies the premiums they must pay to acquire resources through acquisitions, according to Bernstein analysts, “With high-performance computing, the seismic processing and interpretations are being done in two weeks rather than 1,000 years, as it would have been if black onyx cufflinks and studs they still used 20th century computers,” they said, “Investors should therefore expect more from BP with this edge.”..
WASHINGTON (Reuters) - A federal grand jury in Detroit on Thursday indicted four managers at Volkswagen AG’s (VOWG_p.DE) luxury Audi unit as part of the U.S. government’s investigation into the German automaker’s diesel emissions cheating scandal, according to court documents. VW admitted in September 2015 to secretly installing software in nearly 500,000 U.S. vehicles to cheat government exhaust emissions tests and pleaded guilty in 2017 to felony charges. In total, 13 people have been charged in the United States, including the four Audi managers.
Managers Richard Bauder, Axel Eiser, Stefan Knirsch and Carsten Nagel all worked in Audi’s engine development division in Germany, Bauder was head of Audi’s Diesel Engine Development department, A Justice Department spokesman black onyx cufflinks and studs said none are in custody, All are believed to be in Germany, Lawyers for the four could not immediately be identified, The government previously indicted one former Audi manager in July 2017, Giovanni Pamio, The new indictment is a significant expansion of the government’s criminal probe..
The four managers are charged in a 12-count indictment with conspiring to evade U.S. emissions standards in diesel vehicles sold in the United States with 3.0-liter engines. The vehicles include the 2009-2015 Audi Q7 vehicles as well as other Q5, A6, A7 and A8 diesel models and VW Touareg vehicles. They are accused of wire fraud, violating the Clean Air Act and conspiracy. Volkswagen spokesman Pietro Zollino said the company continues “to cooperate with investigations by the Department of Justice into the conduct of individuals. It would not be appropriate to comment on individual cases.”.
The indictment said the Audi managers realized they could not meet U.S, pollution standards given design constraints by Audi “including the need for a large trunk and high-end sound system.”, Audi engineers told Bauder in 2008 that unless the tank was larger “Audi had to cheat to pass black onyx cufflinks and studs U.S, emissions tests” and ensure that drivers could go 10,000 miles between dealer service visits, the indictment said, In total, Volkswagen has agreed to pay more than $25 billion in the United States for claims from owners, environmental regulators, states and dealers, and has offered to buy back about 500,000 polluting U.S, vehicles, The buybacks will continue through 2019..
In 2017, VW also pleaded guilty to fraud, obstruction of justice and falsifying statements in a U.S. court. Under the plea deal, the automaker agreed to sweeping reforms, new audits and oversight by an independent monitor for three years. U.S. prosecutors previously charged former VW Chief Executive Officer Martin Winterkorn, who remains in Germany. Two other former VW executives have pleaded guilty in the investigation and are in prison. Germany does not typically extradite its citizens for prosecution in U.S. courts.
(Reuters) - MGM Resorts International (MGM.N) has struck a deal with hedge fund Corvex Management’s founder, Keith Meister, to give him a board seat, one week after a rival activist investor was seen building a position in the casino operator, Corvex owns roughly 3 percent of MGM’s stock, Meister will join the board on Friday, expanding its size by one to 13 members, MGM said in a statement released late on Thursday, MGM’s chief executive officer and chairman, Jim Murren, said the company and Meister have been holding “constructive dialogue” over the last several months, and he praised the investor’s track record of “helping companies maximize value for shareholders as black onyx cufflinks and studs well as his experience in real estate and gaming.”..