EBR Staff Writer Published 20 February 2015

Croatia has secured seven bids from international companies for onshore exploration of oil and gas in the northern Drava river basin.

The country's Economy Minister Ivan Vrdoljak was quoted by Reuters as saying that the tender process follow a licensing round for drilling in the Adriatic Sea.

As part of its aim to boost energy security and revive its recession-hit economy, the country intends to attract investors.

Although the names of the bidders were not disclosed following the closure of the tender process, the minister said the government was satisfied as the bids were submitted by serious companies.

"This is just the beginning. We have more potential for exploration in northern and central Croatia, particularly in the Dinarides (central mountain range)," the minister said.

According to state hydrocarbons agency director Barbara Doric, the licences are likely to be awarded by next two months.

Comprising six block areas with sizes between 2,100 and 2,600km2, the minister added that the companies had shown interest in all these blocks.

Last month, Croatia awarded licences for gas and oil exploration in the Adriatic, with exploration contracts likely to be inked in April. This is likely to see an investment of around $2.5bn over the next four years, the news agency reported.

Environmentalists are opposed to the oil drilling in the Adriatic region, claiming that it would hurt the environment as well as the tourism industry.

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Croatia gets seven bids for onshore exploration in Drava river basin

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EBR Staff Writer Published 18 February 2015

Warren Buffett's Berkshire Hathaway has divested its stake in Exxon Mobil for $3.74bn, amid falling oil prices.

Citing a US Securities and Exchange Commission filing, Reuters reported that the company bought a new 24.7 million share stake in Deere & Co. (DE), an agricultural equipment manufacturer. Besides, several other changes were included in its common stock investments.

The 41 million-share stake in Exxon Mobil was acquired by Berkshire in 2013, when the oil price was at its peak.

Raymond James energy analyst Pavel Molchanov told Reuters in an interview that Buffett "is of course a value investor, and the fact of the matter is that Exxon shares held up extremely well during the oil price meltdown."

In the last three months of 2014, Berkshire also sold 471,994 shares in oil company ConocoPhillips. However, the investment firm, led by Warren Buffett, has not completely exited the oil sector - as of 31 December 2014, the company retained interests in Suncor Energy, National Oilwell Varco and Precision Castparts, reported The Telegraph.

With oil price plunging, several investors have been shedding their assets. From a peak of more than $115 per barrel in June 2014, the oil price shrunk to less than $50 a barrel in January 2015. On Tuesday, the Brent traded at $62.53.

The plunging oil price has taken a toll on oil companies such as Shell, which terminated the proposed $6.4bn plan with Qatar Petroleum to develop Al Karaana petrochemical project in Qatar.

The oil firm also announced that it would cut investment by $15bn over the next three years. In December, another oil major BP announced its plan to axe hundreds of jobs.

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Berkshire Hathaway divests stake in Exxon Mobil for $3.74bn

San Diego, California (PRWEB) February 19, 2015

SAN DIEGO An iconic San Diego landmark, Grossmont Center recently named InnoVision Marketing as its official agency of record. Under the new management of Rainbow Investment Company, Grossmont Center will unveil a series of initiatives to serve the centers vision of providing the community with a nostalgic shopping experience.

The San Diego-based Cushman family has owned the land where Grossmont Center has been located for over 100 years. Although it has been independently leased over the past 50 years, Rainbow Investment Company has reclaimed management of the historic shopping center. The propertys network of restaurants, banks and retail shops are enthusiastic about the continued success of Grossmont Center, the implementation of extensive marketing plans with InnoVision on board, increased community awareness and physical remodeling.

We picked InnoVision because I believe they can make a difference, said Stephen Cushman, President of Rainbow Investment Company. I think they are cut from a different cloth and they bring a new perspective to the market unlike any other agency in town. I have never seen such a high level of service and attention like I have with InnoVision. The package they brought to the table can really light up the center.

For over 30 years, Ric Militi has worked with iconic brands such as Pennzoil, Corona, Neutrogena, Kahlua, Nissan, DreamWorks/SKG and Valvoline as well as major brands in the retail and entertainment industries, including the Rio Hotel & Casino, Harrahs, Merv Griffin Hotels and Universal CityWalk.

Now CEO and Creative Director of InnoVision, Militi has found ways to drive traffic to business locations, whether widely recognized or coming off the beaten path, by making them stand out among the competition. This comes down to elevating them beyond a retail business and creating an actual experience that people want.

The Cushmans are such a prominent and renowned family here in San Diego. They are true pioneers of the community and do so much to better it, said Militi. Having the opportunity to work as the marketing firm for Grossmont Center is a tremendous honor. We look forward to being their marketing partners for many years to come.

Through a results-driven philosophy and a client-centered mindset, InnoVision continues to expand and grow its client roster. In addition to Grossmont Center, InnoVision also represents well-known clients such as Valley View Casino and Hotel, Dashers Insurance, Subaru of Glendale, Sears Carpet and Air Duct Cleaning, Unicorn Jewelry & Watch Boutique and multiple regions of Massage Envy Spa. To learn more about InnoVision and their anti-agency approach to marketing, please visit InnoVisionNow.com.

Grossmont Center is located at 5500 Grossmont Center Drive in La Mesa, California. For more information about the mall, please visit http://www.GrossmontCenter.com.

About InnoVision InnoVision is a rapidly expanding marketing and advertising firm located in picturesque San Diego, California. As the countrys only anti-agency, InnoVision prides itself on building lasting relationships with each client that challenge the traditional agency approach to marketing. This personalized attention and service, combined with cultivation of a strong brand image, has ensured continued success and new business through referrals.

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Grossmont Center Signs with the Nation's Only Anti-Agency

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True or false? When it comes to heating and cooling equipment for your home, your HVAC system itself is what's important; ductwork and vents play an insignificant role. The answer is: False! Simply put, if you install ducts and vents incorrectly, you will end up paying big bucks to heat or cool the great outdoors ... and even worse, you may put your family's health at risk. Ditto if you fail to maintain your ductwork in good shape.

Potential Problems

Reduced air distribution efficiency. Duct and vent installation is a complex business, which is best left in the hands ofa reliable HVAC contractor. If it is not performed properly, the efficiency of your HVAC system, no matter how new or expensive, will be greatly reduced. The US Department of Energy reports that many American homes contain air distribution systems (that is, ductwork) which are operating at only 60-75% of capacity or less. In simple terms, that means you may be getting a lot less heating or cooling than you're paying for.

Reduced indoor air quality. If your ducts begin to leak, they allow contaminants such as bacteria, molds, and common allergens to enter the piping system. From there, the unhealthy air may be distributed throughout your home. This can cause or aggravate a number of illnesses, including infections, allergic rhinitis, respiratory problems, chronic headaches, and more.

Pressure imbalance. Leaky ductwork can also lead to pressure imbalances, which will draw outdoor air into the home and force already-conditioned air outdoors. Beyond a loss in HVAC energy, this uneven pressure has the potential tocause backdrafting of lethal carbon monoxide by fuel-burning appliances, such as natural gas heaters or wood stoves.

Vent and Duct Install

ACCA standards. Whether you are planning to install ductwork in new construction or retrofit to an older home, choose a system that was designed to ACCA(Air Conditioning Contractors of America) or equivalent standards.

Professional install. Have an experienced HVAC contractor install your air distribution system. The professionals have the know-how to follow up-to-date best practices and maintain the system's mechanical integrity.

Location. Locate ducts in a conditioned space whenever possible. This may not be feasible with a retrofit, in which case you should ensure that they are adequately insulated. R-value should be at least 8.

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Why efficient ductwork matters

EBR Staff Writer Published 10 February 2015

Alstom and Israeli company Atlantium have signed a bilateral agreement to jointly expand the water treatment solution usage in hydropower equipment.

The new technique can devastate the reproduction of microorganisms in the auxiliary water circuits of hydropower equipment.

The hydropower industry is facing a serious problem with the invasive aquatic species such as algae, mussels and bacteria, as they decrease the water flow in installations or even block pipes, which in turn leads to costly maintenance.

A new water treatment technique has been developed by Atlantium in order to address this problem in the hydropower industry.

The technique uses UV rays which will be diffused by a lamp integrated in Plexiglas tubes to prevent the invasive species from reproducing.

Alstom Renewable Energies sector Hydro senior vice president Jacques Hardelay said: "With this agreement, Alstom will enable its customers to benefit from an innovative, low-cost, environmentally respectful technique that has already proven itself in other industries and consolidates its position as the leader in services provision in the hydropower market.

Atlantium CEO and president Benjamin Khan said: "This collaboration will provide Alstom's customers with a unique, chemical-free and field-proven solution for their mussels and macro-fouling challenges."

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Alstom, Atlantium to expand water treatment solution use in hydropower equipment

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