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Spdr S&P Oil & Gas Exploration & Production Etf V.XOP.W


Primary Symbol: XOP

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the oil and gas exploration and production segment of a U. In seeking to track the performance of the S&P Oil & Gas Exploration & Production Select Industry Index, the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the oil and gas exploration and production segment of the S&P Total Market Index (S&P TMI).


ARCA:XOP - Post by User

Post by benh1215on Mar 26, 2013 11:42am
200 Views
Post# 21168661

great to see...

great to see...

the EPA is now on our side as well.

 

Print

Liberia's EPA Chief Back Tracks, Now Says, Block 13 Environmentally Friendly

The head of Liberia's Environmental Protection Agency(EPA) is back-tracking on an earlier claim that the EPA was being left out of the block 13 negotiation process.

In a press statement from the EPA Monday, the agency chief is now expressing appreciation for how the role of the Agency was referenced.

Anyaa Vohiri said: "We are satisfied that we were involved in the process as a Hydrocarbon Technical Committee member and that for the first time a contract recognizes the mandate of the EPA in the protection of our natural resources."

The EPA boss continued: The EPA is a national level autonomous regulatory and enforcement agency that monitors all activities related to all natural resource concessions to ensure that negative environment and social impacts are avoided, mitigated or reduced.

Vohiri noted that the contract has adequately referenced the environmental laws and legal processes, specifically Articles 6 and 20 of the contract which take into account, the necessary collaboration between the EPA and NOCAL to assure that the concessionaire and NOCAL comply with the Environment Protection and Management Law of the Republic of Liberia and Social, Health and Environment policies.

The EPA boss also expressed the hope that the recognition of EPA's role in the block 13 contract will be replicated in future contracts.

She said, her Agency is looking forward to being involved in the decision on what percentage of the oil funds to be used to protect the environment.

She committed the EPA and renews its assurance in working with the legislature in ensuring a safe and secure environment for present and successive generations.

Section 5 of the Act creating the EPA empowers the Agency as the principal authority in Liberia for the management of the environment that coordinates, monitors, supervises and consults with relevant stakeholders on all activities in the protection of the environment and sustainable use of natural resources.

At last Thursday first public hearing of the amended oil block 13 agreements held by the legislative joint committee on ratification Madam Vohiri told committee members that despite the EPA being a part of formulating the oil sector policy it was left out of the renegotiation process of block 13.

Said Vohiri; "The EPA is a National Regulatory and enforcement agency that monitors all activities related to all activities related to all Natural resources concession to ensure that negative environment and social impact are avoided and mitigated or reduce as much as possible, the mandate of EPA is important to the success for the agenda of transformation."

 

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