harvest operations
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moody' s confirms the ratings for harvest operations corp. ; outlook is stable
i worked at harvest operations corp. full - time (more than 3 years )
i worked at harvest operations corp. full - time (more than 8 years )
i worked at harvest operations corp. full - time (less than a year )
moody' s places the ratings for harvest operations corp. under review for possible downgrade
i have been working at harvest operations corp. full - time (more than 5 years )
in the conventional operations, harvest employs a disciplined approach to acquiring, developing and operating large resource - in - place producing properties. harvest' s conventional operations are located in the western canadian sedimentary basin .
wellpads at harvest operations' blackgold oilsands project remain off line. the company took a $ 509 million loss on it in 2015 .
moody' s assigns b3 to harvest operations corp. sr. unsecured notes; b2 senior implied rating; sgl - 3 liquidity rating; stable outlook
calgary, alberta - - (marketwired - aug. 8, 2017) - harvest operations corp. (
harvest
or the
company
) announced its financial and operating results for the second quarter ended june 30, 2017 .
harvest operations corp. - investor & media contact: greg foofat manager, investor relations and corporate communications toll free investor mailbox: (866) 666 - 1178 information @ urltoken www. urltoken
assessment of pre and post harvest losses of rice and red gram in karnataka .
assessment of pre and post harvest losses in tur and soyabean crops in maharashtra .
assessment of pre and post harvest losses in rice and wheat in west bengal .
( 1) excludes volumes from harvest' s equity investment in the deep basin partnership .
post - harvest losses in latin america and the caribbean: challenges and opportunities for collaboration .
). the losses were maximum during storage operations due to a lack of availability, poor structures, presence of rodents, and improper drainage .
harvest operations corp. is a wholly - owned subsidiary of korea national oil corporation (knoc). harvest is a significant operator in canada' s energy industry offering exposure to exploration, development and production of crude oil and natural gas (upstream) and an oil sands project under construction and development in northern alberta (blackgold) .
korean - owned harvest operations corp. has shuffled its executive officers, reduced its staff by a third and signalled it will cut spending and try to ease a credit crunch this year while absorbing a $ 1. 8 - billion loss for 2015 .
moody' s confirms harvest' s ba2 cfr and downgrades sr. unsec' d notes to ba2
moody' s raises harvest' s cfr to ba2; sr. unsec' d notes to ba1
harvest intends to enhance the long - term value of harvest' s existing western canadian assets with proven development strategies. the corporation uses infill and step - out drilling to develop the potential of its assets .
magan n. , aldred d. post - harvest control strategies: minimizing mycotoxins in the food chain .
grover d. , singh j. post - harvest losses in wheat crop in punjab: past and present .
shukla b. d. , patil r. t. post - harvest management, fight hunger with fao .
harvest corporate profile harvest is a wholly - owned, subsidiary of korea national oil corporation (
knoc
). harvest is a significant operator in canada' s energy industry offering stakeholders exposure to exploration, development and production of crude oil and natural gas (upstream) and an oil sands project under construction and development in northern alberta (blackgold) .
the terrifying harvest golems are mechanical constructs programmed to hunt down and terminate the human inhabitants of westfall. though their origin is uncertain, some believe that only the wily goblins could have created these mechanical monstrosities. others speculate that the defias brotherhood had the harvest golems built to scare off the local inhabitants of westfall so that they could run their smuggling operations with greater impunity. whatever the case may be, the harvest golems have done their jobs well - eliciting terror in anyone foolish enough to roam the fallow fields of westfall alone. [ 3 ]
harvest is a significant operator in canada' s energy industry with two operating segments: conventional and oil sands. harvest' s shareholder, knoc, is a leading international oil and gas exploration and production company wholly owned by the government of korea
if you are interested in joining the harvest team, please send your resume indicating the desired position to careers @ urltoken .
post harvest loss and technical efficiency of rice, wheat and maize production system: assessment and measures for strengthening food security .
pathak o. p. , gupta r. a. a study on post - harvest losses of food grains in rajasthan .
a harvest golem poses as a simple scarecrow long enough for its victims to enter partial charge range. it then charges, utilizes its backstab ability to rip the throat out of its nearest opponent. while mindless, a harvest golem possesses a degree of innate cunning a touch above that of most golems, modifying its tactics somewhat in response to its enemies’ attacks. a harvest golem never retreats .
cash contributions from harvest' s conventional operations for the three and six months ended june 30, 2017 was $ 16. 6 million and $ 43. 7 million, respectively (2016: $ 15. 4 million and $ 16. 2 million). the increases in cash contribution were mainly due to lower operating expenses and general and administrative expenses .
harvesting timing and method (mechanical vs. manual) are two critical factors dictating the losses during the harvesting operations. a large amount of losses occurs before or during the harvesting operations, if it is not performed at adequate crop maturity and moisture content. too early harvesting of crop at high moisture content increases the drying cost, making it susceptible to mold growth, insect infestation, and resulting in a high amount of broken grains and low milling yields [
the harvest golems were named by the dwarven explorer brann bronzebeard, who was attacked by one of the constructs while traveling through westfall. [ 2 ]
] conducted a study to estimate losses in postharvest operations of wheat in the state of karnataka, india. the estimations were based on a comprehensive survey from 100 farmers, 20 wholesalers, 20 processors and 20 retailers from the major producer district of each crop in the karnataka state. the overall losses in the wheat supply chain from harvesting to retailer were estimated as 4. 32% . field level operations contributed 75. 9% among the total postharvest losses (
to access the conference call dial 1 - 866 - 223 - 7781 (international callers) or 1 - 416 - 340 - 2219 (toronto local) a few minutes prior to start and request the harvest operations conference call. the call will be available for replay by dialing 1 - 800 - 408 - 3053 and entering the passcode 2923692. the replay will be available up to and including august 16, 2017 .
yusuf b. l. , he y. design, development and techniques for controlling grains post - harvest losses with metal silo for small and medium scale farmers .
subsequent to june 30, 2017, harvest received approval for knoc' s guarantee on refinancing to replace the 6 7 / 8% senior note due in october 2017 .
basavaraja h. , mahajanashetti s. , udagatti n. c. economic analysis of post - harvest losses in food grains in india: a case study of karnataka .
baoua i. , amadou l. , ousmane b. , baributsa d. , murdock l. pics bags for post - harvest storage of maize grain in west africa .
harvest golems are lethal mechanical golems [ 1 ] mainly found in westfall. they resemble giant scarecrows and possess blazing orange eyes and razor - sharp metal claws. [ 2 ]
ognakossan k. e. , tounou a. k. , lamboni y. , hell k. post - harvest insect infestation in maize grain stored in woven polypropylene and in hermetic bags .
analyst paresh chari of moody’s investor’s services said harvest’s situation has not changed much from december when its debt as a standalone company was assessed at caa3, “one notch above the lowest rating we give. ”
tapondjou l. , adler c. , bouda h. , fontem d. efficacy of powder and essential oil from chenopodium ambrosioides leaves as post - harvest grain protectants against six - stored product beetles .
harvest has two sets of u. s. denominated senior notes outstanding, one for $ 500 million that matures in 2017 and another for $ 630 million maturing in 2018. its total debt is about $ 3 billion .
conference call harvest will hold a conference call to discuss our second quarter 2017 results on thursday, august 10, 2017 at 9: 00 a. m. mountain time (11: 00 a. m. eastern time) .
he pointed out that $ 1. 3 billion of harvest’s $ 1. 8 billion net loss was related to non - cash asset impairment charges and $ 300 million came from foreign exchange affects on u. s. dollar denominated debt .
abass a. b. , ndunguru g. , mamiro p. , alenkhe b. , mlingi n. , bekunda m. post - harvest food losses in a maize - based farming system of semi - arid savannah area of tanzania .
the central processing facility (
cpf
) was substantially completed in early 2015, but completion of sanctioning and commissioning activities was subsequently postponed due to the bitumen price environment. during 2017, harvest plans to complete sanctioning and re - commence commissioning activities .
harvest added 3, 300 boe / d in the quarter as its share of the deep basin partnership, up from 940 boe / d a year earlier. it owns 82 per cent of the joint venture it struck in april 2014 with kerr canada co. ltd .
goblins created the first harvest golems to serve as guardians, setting the constructs to patrol the fields of westfall. the goblins’ first attempts were too effective; the golems killed so quickly and ruthlessly that no victims remained to spread tales of the horrifying guardians. goblin tinkers thus hamstrung one of their creations just long enough for a survivor to spread the word. within weeks, the fields of westfall stood empty save for their silent, shambling caretakers. harvest golems have since spread to other territories, leaving fear and mutilated corpses in their wake .
a harvest golem seems a simple scarecrow, but a crafter must lace its innards with sachets of expensive powders and ground herbs. in addition, the caster inscribes animating runes inside the golem' s fabric body, which requires a rare ink made of powdered arcanite. [ 5 ]
there are multiple models used for harvest golems: the most commonly used scarecrow - like one, one which lacks coverings and the hat, and a re - skin of the second version that rearranges the textures to make it seem less complete (with a hole for a face) .
on a conference call monday, new chief operating officer jeff tooth — he replaced john wearing in february — said harvest recently laid off 67 people in calgary and in the field, including two vice - presidents it named in a news release, controller phil reist and erik van noort of technical services .
aulakh j. , regmi a. , fulton j. r. , alexander c. estimating post - harvest food losses: developing a consistent global estimation framework; proceedings of the agricultural & applied economics association’s 2013 aaea & caes joint annual meeting; washington, dc, usa. 4–6 august 2013 .
harvest is interested in self - starters who are experienced and results - focused. our value - driven approach promotes accountability, provides hands - on involvement and gives people an exciting and entrepreneurial environment in which to work and grow. we reward individuals who thrive in an environment of achieving results quickly and effectively .
harvest recorded an impairment of $ 509 million in 2015 related to its 10, 000 - barrel - per - day blackgold thermal oilsands project in northern alberta. the project, built for about $ 900 million, was ready to switch on in early 2015 with the completion of its central processing facility but activity was suspended .
harvest reported production averaged 38, 100 barrels of oil equivalent per day in the fourth quarter, down from 42, 500 boe / d in the same period of 2015, thanks to assets purchases and sales and natural declines. its average realized price fell to $ 37. 65 from $ 62. 75 per boe .
during the crop transition from farm to consumer, it has to undergo several operations such as harvesting, threshing, cleaning, drying, storage, processing and transportation. during this movement, crop is lost due to several factors such as improper handling, inefficient processing facilities, biodegradation due to microorganisms and insects, etc. it is important to understand the supply chain and identify factors at various stages that cause food losses. the section below will discuss the various stages in grain supply chain and type of losses occurring at each stage .
“although the current economic environment poses significant challenges for all industry participants, including harvest, we believe the continued adherence to our longterm strategy will enable us to emerge from this cycle in a position of strength, ” tooth said, noting oil prices that have fallen 64 per cent and gas prices that are down 52 per cent since june 2014 .
], the losses in the rice value chain from producer to retailer were estimated as 10. 74% to 11. 71% (10. 74% for aman, 11. 71% for boro, and 11. 59% for aus) in bangladesh. most of the losses (85. 28% –87. 77% of the total) happened in the farm level operations, with storage losses (33. 92% –40. 99% of farm level losses) being the main contributor. alavi et al. [
tefera t. , kanampiu f. , de groote h. , hellin j. , mugo s. , kimenju s. , beyene y. , boddupalli p. m. , shiferaw b. , banziger m. the metal silo: an effective grain storage technology for reducing post - harvest insect and pathogen losses in maize while improving smallholder farmers’ food security in developing countries .
the milling or processing operations vary for different grains. in the case of rice, the purposes of milling are to remove the husk and bran layers of paddy to provide cleaned and whole white rice kernels for human consumption. the operation can be performed manually or using milling machines. traditionally, in rural areas, milling is performed manually by repeated pounding. milling yields are highly dependent on the milling method, skills of the operator, and crop conditions before the milling process. milling of paddy containing foreign materials results in a high amount of cracked and broken kernels and can also damage machines. inadequately maintained milling machines result in a high amount of broken kernels and low milling yields. alavi et al. [ 26 ] reported that milling losses are highest among the losses during postharvest operations of rice in five southeast countries: china, thailand, indonesia, the philippines, and vietnam. milling yields of rice in all these five countries were reported well below the theoretical yield of 71% –73% . the yields from village level small mills were as low as 57% due to small scale, poor calibration, and lack of maintenance. high moisture and an inadequately cleaned paddy aggravate the situation and reduce yields .
harvest' s share of deep basin partnership (
dbp
) volumes for the second quarter and six months ended june 30, 2017 increased 293 boe / d and 746 boe / d, respectively, as compared to the same periods in 2016. these increases were due to dbp' s successful drilling program in the fourth quarter of 2016 with the addition of three new wells that began producing in the first quarter of 2017 which more than offset natural declines .
rice, wheat, and maize are major cereal grains in most of the developing countries. in countries such as bangladesh, rice accounts for more than 90% of food produced and about 70% of calories intake [ 32 ]. in west africa, nigeria is currently the largest producer of rice with an annual production of about 3. 3 million tonnes [ 18 ]. in spite of the large production and huge rice imports every year, a large number of people are undernourished in nigeria. similarly, bangladesh is the fourth largest producer of rice worldwide, however, it is still food deficient and imports more than one million tons of rice every year. saving the cereal crop lost during postharvest operations can help in meeting the food demand and reduce the load on the economy. a report from the world bank, estimated 7% –10% of grain loss in postharvest operations at field level, and 4% –5% loss at the market and distribution stage in india for the year 1999 [ 25, 33, 34 ]. estimates also suggest that these, approximately 12 to 16 million metric tons of grains wasted each year, could meet the food demand of about one - third of india’s poor population [ 35 ]. however, despite the criticality of the issue, availability of consistent and reliable postharvest loss data is still a challenge. very few loss assessment studies have been conducted in important developing economies such as india, china, and brazil. after the fao report in 2010, various institutes are making efforts to conduct comprehensive household surveys, interviews, and field measurements to determine the actual status of losses along food supply chains in various countries. this section discusses the status of losses in major staple crops based on the available literature data .
while fulfilling the food demand of an increasing population remains a major global concern, more than one - third of food is lost or wasted in postharvest operations. reducing the postharvest losses, especially in developing countries, could be a sustainable solution to increase food availability, reduce pressure on natural resources, eliminate hunger and improve farmers’ livelihoods. cereal grains are the basis of staple food in most of the developing nations, and account for the maximum postharvest losses on a calorific basis among all agricultural commodities. as much as 50% –60% cereal grains can be lost during the storage stage due only to the lack of technical inefficiency. use of scientific storage methods can reduce these losses to as low as 1% –2% . this paper provides a comprehensive literature review of the grain postharvest losses in developing countries, the status and causes of storage losses and discusses the technological interventions to reduce these losses. the basics of hermetic storage, various technology options, and their effectiveness on several crops in different localities are discussed in detail .
the net change to the credit facility during the three and six months ended june 30, 2017 was $ 16. 2 million net borrowings and $ 465. 8 million net repayment, respectively (2016: $ 5. 9 million and $ 38. 9 million net borrowings). the net repayment on the credit facility for the six months ended june 30, 2017 was made with $ 500 million in funds drawn from the term facility in the first quarter of 2017. as at june 30, 2017, the term facility had an outstanding balance of $ 500 million (december 31, 2016: $ nil). at june 30, 2017, harvest had $ 415. 7 million drawn under the credit facility (december 31, 2016 - $ 893. 5 million) excluding letters of credit of $ 10. 9 million (december 31, 2016: $ 9. 9 million) .
readers are cautioned that the forward - looking information may not be appropriate for other purposes and the actual results may differ materially from those anticipated. although management believes that the forward - looking information is reasonable based on information available on the date such forward - looking statements were made, no assurances can be given as to future results, levels of activity and achievements. therefore, readers are cautioned not to place undue reliance on forward - looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. although we consider such information reasonable at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. harvest assumes no obligation to update forward - looking statements should circumstances, estimates or opinions change, except as required by law. forward - looking statements contained in this press release are expressly qualified by this cautionary statement .
meeting the food demand of a rapidly increasing global population is emerging as a big challenge to mankind. the population is expected to grow to 9. 1 billion people by the year 2050, and about 70% extra food production will be required to feed them [ 1, 2, 3 ]. most of this population rise is expected to be attributed to developing countries, several of which are already facing issues of hunger and food insecurity. increasing urbanization, climate change and land use for non - food crop production, intensify these concerns of increasing food demands. in the last few decades, most of the countries have focused on improving their agricultural production, land use, and population control as their policies to cope with this increasing food demand. however, postharvest loss (phl), a critical issue, does not receive the required attention and less than 5% research funding has been allocated for this issue in previous years [ 4, 5, 6, 7 ]. approximately one - third of the food produced (about 1. 3 billion ton), worth about us $ 1 trillion, is lost globally during postharvest operations every year [ 8 ]. “food loss” is defined as food that is available for human consumption but goes unconsumed [ 9, 10 ]. the solutions to reduce postharvest losses require relatively modest investment and can result in high returns compared to increasing the crop production to meet the food demand .
postharvest loss includes the food loss across the food supply chain from harvesting of crop until its consumption [ 9 ]. the losses can broadly be categorized as weight loss due to spoilage, quality loss, nutritional loss, seed viability loss, and commercial loss [ 11 ]. magnitude of postharvest losses in the food supply chain vary greatly among different crops, areas, and economies. in developing countries, people try to make the best use of the food produced, however, a significant amount of produce is lost in postharvest operations due to a lack of knowledge, inadequate technology and / or poor storage infrastructure. on the contrary, in developed countries, food loss in the middle stages of the supply chain is relatively low due to availability of advanced technologies and efficient crop handling and storage systems. however, a large portion of food is lost at the end of the supply chain, known as food waste. “food waste” can be defined as food discarded or alternatively the intentional non - food use of the food or due to spoilage / expiration of food [ 12 ]. in 2010, estimates suggested that about 133 billion pounds of food (31% of the total available food) was wasted at retail and consumer level in the united states. among different agricultural commodities, the studies estimated that on a weight basis, cereal crops, roots crops, and fruit and vegetables account for about 19% , 20% , and 44% losses respectively [ 8, 13 ]. on a calorific content basis, losses in cereal crops hold the largest share (53 %). cereal grains, such as wheat, rice, and maize are the most popular food crops in the world, and are the basis of staple food in most of the developing countries. minimizing cereal losses in the supply chain could be one resource - efficient way that can help in strengthening food security, sustainably combating hunger, reducing the agricultural land needed for production, rural development, and improving farmers’ livelihoods .
these companies, originally structured as canadian royalty trusts (canroys), are oil and natural gas producers. as trusts, they didn' t pay federal income taxes if they distributed their income to shareholders. the resulting double - digit dividend yields grabbed dividend investors’ attention
in the mid - 2000s. eventually the government cracked down and starting in 2011, trusts were required to pay the same taxes as regular corporations. consequently, all trusts converted to corporations, and many cut their dividends .
if you' re a u. s. citizen, canadian corporations withhold 15% of your dividends deposited in regular accounts for canadian taxes. however, that deduction does not apply to tax - sheltered accounts such as iras. for regular accounts, you can apply for to the u. s. irs for a refund (foreign tax credit) for at least a portion of the amount withheld .
many canadian firms provide information for income tax filing instructions for u. s. unitholders on their websites. nevertheless, u. s. investors should consult with a qualified tax advisor before investing .
most canadian energy stocks are listed only on the toronto stock exchange. however, the following are also traded on either the nyse or amex .
if you can' t find a canadian energy stock, it may have been acquired or changed its name. here' s a list of former trusts that have recently disappeared .
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not much to say. only the most desperate employees would apply there. they do tend to hire a lot of visible minorities and immigrants, since they will work for a lot cheaper .
very bad management, koreans no nothing about the oil and gas industry, intimidation, bullying, and micromanaging are rampant and encouraged by senior management. very poor compensation plan, way below average versus peers. a horrifying experience, absolutely the worst oil & gas company i have ever worked for .
sell the company to a canadian corporation that knows oil & gas. residual value of the company is so poor now due to past mismanagement knoc will receive basically 20 cents on the dollar for their investment .
excellent offer sheet, only to have most of it reneged on and line item' s that offered
eligible for
taken away .
unprofessional management (bullying / threatening), korean culture that demanded respect usually when undeserved, requested employees to perform unsafe tasks. they would rather you pick garbage than work on your professional background, you do more security and cleaning than turning wrenches .
i worked with great people and the salary was good. location in down town is okay except for the main floor. . very sketchy area .
terrible snr management! managers are puppets and workers are just their cause there are very little other jobs out there .
respect people for who they are and stop bulldozing people. president needs to go, he has no people skills and are 99% of this company' s problem .
some good people, most becoming so frustrated that they are not producing quality work and becoming extremely apathetic. field staff are for the most part extremely high quality and knowledgeable .
company culture is a disaster. between korean handlers promoting a top down hierarchy where no one' s opinion is valued and a corporate culture of blame shifting becoming prevalent this is not the place to maintain your sanity. most employees with a solid knowledge base and skill set are looking for a way out. layoffs, property divestitures, wage cuts, elimination of bonuses and benefits for staff to pay for the mistakes of past upper management. president is a narcissistic psychopath who thinks work / life balance is a weakness .
management is in way over their head. they don' t know how to do business in this market .
the only pro for this company is that it is a paycheck. only apply if desperate
everything - c level management are are not only bullies, they show nothing short of disrespect for canadians. employees are no longer able to make any decisions necessary to their jobs without top level approval. nobody will sign anything, not even the co & o due to the fact if something goes wrong, they will be held personally responsible. daily the company wraps itself up in more red tape and reporting - this company will come to a grinding halt due to the management style. i have never witnessed so much finger pointing at a company - it has become a very sad and unhappy environment for anyone below co & o level, even the vp' s .
learn the oil & gas business. your lack of knowledge when making major decisions is bringing the company to it' s knees .
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species extinction is now happening at 1, 000 times its normal ...
the calgary - based intermediate oil and gas producer reported it had breached its covenant on $ 924 million in bank debt as of dec. 31 but has since negotiated a waiver from its lending syndicate. the debt is guaranteed by its parent, korean national oil corp. , and it said it is in talks with knoc regarding options in advance of the april 2017 debt maturity date .
the company said president and chief executive kyungluck sohn resigned last month and piljong sung, chief strategy officer and corporate secretary, is filling in as interim ceo .
tooth said monday it will remain stalled until oil prices and the company’s financial liquidity improve .
“we will continue to discuss with our parent, knoc, to look at options to increase our liquidity and to reduce our debt balances, ” he said .
he said the company has us $ 51 million left from a us $ 171 million one - year loan made by knoc last april. the loan’s maturity date has been extended until the end of 2017 .
“they are in a bit of a difficult situation, ” he said. “it’s a liquidity issue, they have debt maturities in 2017. they need to get some support from knoc to help them through and where and when that support comes in, i don’t really know. ”
oilfield services group asks ottawa to fund $ 500 - million oil and gas ...
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this press release is an overview of the second quarter results for 2017 and should be read with the unaudited condensed interim consolidated financial statements and management' s discussion and analysis (md & a) for the second quarter ended june 30, 2017 available on the system for electronic document analysis and retrieval (sedar) at urltoken .
all financial data has been prepared in accordance with international financial reporting standards as issued by the international accounting standards board except where otherwise noted. all figures reported herein are in canadian dollars unless otherwise stated .
petroleum and natural gas sales for the three months ended june 30, 2017 decreased by $ 2. 3 million over the same period in 2016 as a result of reduced volumes, which was partially offset by an increase in realized prices. petroleum and natural gas sales for the six months ended june 30, 2017 increased by $ 13. 0 million as compared to the same period in 2016 as a result of increased realized prices partially offset by decreased volumes. sales volumes for the three and six months ended june 30, 2017 decreased by 8, 116 boe / d and 8, 941 boe / d, respectively, as compared to the same periods in 2016. these decreases were primarily due to natural declines and dispositions of certain producing properties during 2016, which were partially offset by production resulting from new wells drilled and completed over the fourth quarter of 2016, and the first six months of 2017 .
operating loss for the three and six months ended june 30, 2017 was $ 44. 4 million and $ 61. 6 million, respectively (2016: $ 51. 3 million and $ 146. 6 million). the decreases in operating loss from 2016 was primarily due to lower operating expenses, general and administrative expenses, depreciation, depletion and amortization, and loss from joint ventures, which was partially offset by a reduction in gains on disposition of assets .
capital asset additions of $ 4. 9 million and $ 24. 5 million in the three and six months ended june 30, 2017, respectively, were mainly related to drilling and completion, well equipment, pipelines and facilities. one gross well (0. 6 net) and five gross wells (2. 7 net), respectively, were rig - released for the three and six months ended june 30, 2017 .
operating netback per boe prior to hedging for the three and six months ended june 30, 2017 was $ 13. 04 and $ 13. 81, respectively, increases of $ 4. 19 and $ 7. 03 from the same periods in 2016. the increases from 2016 were mainly due to higher realized prices per boe as a result of commodity benchmark price increases, partially offset by higher royalties, operating expenses, and transportation and marketing expenses per boe .
pre - operating losses for the three and six months ended june 30, 2017 were $ 3. 5 million and $ 6. 9 million, respectively (2016: $ 2. 7 million and $ 7. 2 million, respectively). the pre - operating losses were mainly due to pre - operating and general and administrative expenses .
the strengthening of the canadian dollar against the u. s. dollar for the three and six months ended june 30, 2017 resulted in net unrealized foreign exchange gains of $ 48. 8 million and $ 62. 5 million, respectively (2016: $ 13. 0 million loss and $ 105. 4 million gain, respectively) .
( 3) this is a non - gaap measure; please refer to
non - gaap measures
in this md & a .
knoc is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources. knoc will fully establish itself as a global government - run petroleum company by applying ethical, sustainable and environment - friendly management and by taking corporate social responsibility seriously at all times. for more information on knoc, please visit their website at urltoken .
advisory certain information in this press release constitute
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adm institute for the prevention of postharvest loss, university of illinois at urbana - champaign, urbana, il 61801, usa; ude. sionilli @ atilakp
* correspondence: ude. sionilli @ dramuk; tel. : + 1 - 217 - 300 - 1929
this article is an open access article distributed under the terms and conditions of the creative commons attribution (cc - by) license (urltoken) .
postharvest loss accounts for direct physical losses and quality losses that reduce the economic value of crop, or may make it unsuitable for human consumption. in severe cases, these losses can be up to 80% of the total production [ 14 ]. in african countries, these losses have been estimated to range between 20% and 40% , which is highly significant considering the low agricultural productivity in several regions of africa [ 15 ]. according to the world bank report, sub - saharan africa (ssa) alone loses food grains worth about usd 4 billion every year [ 16 ]. these losses play a critical role in influencing the life of millions of smallholder farmers by impacting the available food volumes and trade - in values of the commodities. in addition to economic and social implications, postharvest losses also impact the environment, as the land, water and energy (agricultural inputs) used to produce the lost food are also wasted along with the food. unutilized food also results in extra co 2 emissions, eventually affecting the environment. a report from the food and agriculture organization of the united nations (fao) using the life cycle perspective, estimated about 3. 3 gtonnes of co 2 equivalent emissions due to food that was produced but not eaten, without even considering the land use change [ 17 ]. the blue water footprints (water use during life cycle of food) for the wasted food globally was estimated to be about 250 km 3 [ 14, 17 ]. similarly, the land used to grow the food is another valuable resource that goes to waste due to these losses. a study conducted on rice postharvest losses in nigeria estimated that the lost paddy accounted for 19% of the total cultivated area [ 18 ]. on the global scale, about 1. 4 billion hectares of land was wasted by growing food that was not consumed in the year 2007, an area larger than canada and china [ 19 ] .
considering the criticality of phl reduction in enhancing the food security, it becomes very important to know the pattern and scale of these losses across the world, especially in developing countries, and identify its causes and possible solutions. although losses occur at each stage of the supply chain from production to consumer level, storage losses are considered most critical in developing countries. this paper provides a comprehensive review and discussion on the status of storage losses of major cereal crops, major factors that lead to these losses and possible solutions. technology interventions play a critical role in addressing the issue of phl, and several efforts have been made to develop and disseminate these technologies for smallholders in developing countries. however, there is a lack of compiled evidence - based information on the effectiveness of these technologies for various crops. this paper discusses in detail the technology interventions, especially the use and effectiveness of hermetic storage in reducing storage losses particularly for smallholders in developing countries .
harvesting is considered as the first step in the grain supply chain and is a critical operation in deciding the overall crop quality. in the developing countries, crop harvesting is performed mainly manually using hand cutting tools such as sickle, knife, scythe, cutters. almost all of the crop is harvested using combine harvesters in the developed countries .
]. however, leaving the matured crop un - harvested results in high shattering losses, exposure to birds and rodents attack, and losses due to natural calamities (rain, hailstorms etc .) [
]. most of the harvesting is performed manually in the developing countries, which is a highly labor intensive and slow process. during peak harvesting season, even the countries such as india and bangladesh encounter labor shortages, which results in delays in the harvesting and subsequently large losses. according to a study conducted in punjab, india, due to high shattering losses, the wheat harvesting losses were found increased by about 67% (2. 5% from 1. 5 %) by delay in harvesting [
]. another postharvest loss study in india estimated a 10. 3% increase (1. 74% to 1. 92 %) in paddy harvesting losses due to delayed harvesting because of a lack in adequate harvesting equipment [
maturity moisture content of various crops (source: de lucia and assennato [ 24 ]) .
the purpose of the threshing process is to detach the grain from the panicles. the process is achieved through rubbing, stripping, or impact action, or using a combination of these actions. the operation can be performed manually (trampling, beating), using animal power, or mechanical threshers. manual threshing is the most common practice in the developing countries. grain spillage, incomplete separation of the grain from chaff, grain breakage due of excessive striking, are some of the major reasons for losses during the threshing process [ 20, 25 ]. delay in threshing after harvesting of crop results in significant quantity and quality loss, as the crop is exposed to atmosphere, and is susceptible to rodents, birds, and insect attack [ 26 ]. as in the case of harvesting, lack of mechanization is the major reason for this delay that causes significant losses. high moisture accumulations in the crop lying in the field may even lead to start mold growth in the field .
the cleaning process is performed after the threshing to separate whole grains from broken grains and other foreign materials, such as straw, stones, sand, chaff, and weed seed. winnowing is the most common method used for cleaning in the developing countries. screening / sifting is another common method of cleaning, which can be performed either manually or mechanically. inadequate cleaned grains can increase the insect infestation and mold growth during storage, add unwanted taste and color, and can damage the processing equipment. a large amount of grains are lost as spillage during this operation, and grain losses during winnowing can be as high as 4% of the total production [ 27 ] .
, the grains are usually harvested at high moisture content to minimize the shattering losses in the field. however, the safe moisture content for long - term storage of most of the crops is considered below 13% [
]. even for the short - term storage (less than 6 months), the moisture should be less than 15% for most of the crops. inadequate drying can result in mold growth and significantly high losses during storage and milling. therefore, drying is a critical step after harvesting to maintain the crop quality, minimize storage losses and reduce transportation cost .
drying can be performed naturally (sun or shade drying) or using mechanical dryers. natural drying or sun drying is the traditional and economical practice for drying the harvested crop, and is the most popular method in developing countries. sometimes, whole crop without threshing is left in the field only for drying. for example, after wheat harvesting, stacks are made of 10–15 bundles of tied crop, and left in the field for drying. sun drying is weather dependent, requires high labor, is slow, and causes large losses. grains lying in the open for sun drying are eaten by birds and insects, and also get contaminated due to mixing of stones, dust, and other foreign materials. unseasonal rains or cloudier weather may restrict the proper drying, and the crop is stored at high moisture, which leads to high losses due to mold growth. about 3. 5% and 4. 5% losses were reported during maize drying on raised platforms in zambia and zimbabwe respectively [ 15, 28 ]. some farmers use mats or plastic sheets for spreading the grains, which reduces the contamination with dust and makes the collection of grains easy. mechanical drying addresses some of the limitations of natural drying, and offers advantages, such as reduction in handling losses, better control over the hot air temperature, and space utilization. however, they suffer with the limitations of high initial and maintenance cost, adequate size availability, and lack of knowledge to operate these dryers, especially with smallholders. due to these limitations, these dryers are rarely used by smallholders in the developing countries [ 26 ].
harvest operations corp. is a canadian oil and natural gas company based in calgary , alberta . unlike many oil and gas trusts , which consist only of production fields , harvest had both " upstream " ( oil and gas wells ) and " downstream " ( refining and distilling ) components . it operated as an open-ended investment trust in canada , and was one of the equities known as " canroys " – short for " canadian royalty trusts . " in 2009 the korea national oil corporation made a buyout offer for harvest , which was accepted , with shareholder approval . the trust was delisted from the toronto stock exchange and the new york stock exchange in december 2009 . the former harvest energy trust 's oil fields are mainly in alberta , with two in saskatchewan ; it also has assets in northern british columbia known as the hay river field . oil sand deposits and all natural gas properties were in alberta . as of the end of 2007 , harvest claimed a production of 61,000 boe/d ( barrels or equivalent per day ) , and a probable lifespan of existing assets of about ten years , before depletion . it claims a total original oil in place ( ooip ) amount of 2 billion barrels ( 320,000,000 m ³ ) , and another 1 billion barrels ( 160,000,000 m ³ ) in oil sands . future plans include drilling approximately 1,000 new oil and gas wells on about 880,000 acres ( 3,600 km ² ) of land which has previously not been developed for oil and gas production . harvest energy trust was formed in july , 2002 . in 2006 it purchased the 115,000 bbl/d ( 18,300 m ³ / d ) north atlantic refinery in come by chance , newfoundland and labrador from vitol refining group , b.v. , and in so doing became the first canadian energy trust to own its own refinery . harvest had 924 employees and a market capitalization of us$ 3.22 billion at the end of 2007 . on 22 december 2009 , harvest closed its plan of arrangement with the korea national oil corporation , which offered c$ 10.00 per unit through its canadian subsidiary , knoc canada ltd . unitholders received cash payouts in late december , with non-canadian holders receiving payouts based on the exchange rate as of the date of closing . the harvest energy trust paid a high dividend , for example yielding an annual rate of 16.0 % in early 2008 ; it also paid out monthly , a relative rarity for equities listed on the new york stock exchange . its dividend payments were not taxed at the regular dividend rate , but rather at a 15 % " qualified dividends " rate ; this is an additional tax advantage in the united states , and applies to many royalty trusts . 
harvest operations corp. is a canadian oil and natural gas company based in calgary, alberta. unlike many oil and gas trusts, which consist only of production fields, harvest had both " upstream " (oil and gas wells) and " downstream " (refining and distilling) components. it operated as an open-ended investment trust in canada, and was one of the equities known as " canroys " – short for " canadian royalty trusts. " in 2009 the korea national oil corporation made a buyout offer for harvest, which was accepted, with shareholder approval. the trust was delisted from the toronto stock exchange and the new york stock exchange in december 2009. the former harvest energy trust's oil fields are mainly in alberta, with two in saskatchewan; it also has assets in northern british columbia known as the hay river field. oil sand deposits and all natural gas properties were in alberta. as of the end of 2007, harvest claimed a production of 61,000 boe/d (barrels or equivalent per day), and a probable lifespan of existing assets of about ten years, before depletion. it claims a total original oil in place (ooip) amount of 2 billion barrels (320,000,000 m ³), and another 1 billion barrels (160,000,000 m ³) in oil sands. future plans include drilling approximately 1,000 new oil and gas wells on about 880,000 acres (3,600 km ²) of land which has previously not been developed for oil and gas production. harvest energy trust was formed in july, 2002. in 2006 it purchased the 115,000 bbl/d (18,300 m ³ / d) north atlantic refinery in come by chance, newfoundland and labrador from vitol refining group, b.v., and in so doing became the first canadian energy trust to own its own refinery. harvest had 924 employees and a market capitalization of us$ 3.22 billion at the end of 2007. on 22 december 2009, harvest closed its plan of arrangement with the korea national oil corporation, which offered c$ 10.00 per unit through its canadian subsidiary, knoc canada ltd. unitholders received cash payouts in late december, with non-canadian holders receiving payouts based on the exchange rate as of the date of closing. the harvest energy trust paid a high dividend, for example yielding an annual rate of 16.0% in early 2008; it also paid out monthly, a relative rarity for equities listed on the new york stock exchange. its dividend payments were not taxed at the regular dividend rate, but rather at a 15% " qualified dividends " rate; this is an additional tax advantage in the united states, and applies to many royalty trusts.
harvest operations corp. is a canadian oil and natural gas company based in calgary, alberta. unlike many oil and gas trusts, which consist only of production fields, harvest had both " upstream " (oil and gas wells) and " downstream " (refining and distilling) components. it operated as an open-ended investment trust in canada, and was one of the equities known as " canroys " – short for " canadian royalty trusts. " in 2009 the korea national oil corporation made a buyout offer for harvest, which was accepted, with shareholder approval. the trust was delisted from the toronto stock exchange and the new york stock exchange in december 2009. the former harvest energy trust's oil fields are mainly in alberta, with two in saskatchewan; it also has assets in northern british columbia known as the hay river field. oil sand deposits and all natural gas properties were in alberta. as of the end of 2007, harvest claimed a production of 61,000 boe/d (barrels or equivalent per day), and a probable lifespan of existing assets of about ten years, before depletion. it claims a total original oil in place (ooip) amount of 2 billion barrels (320,000,000 m ³), and another 1 billion barrels (160,000,000 m ³) in oil sands. future plans include drilling approximately 1,000 new oil and gas wells on about 880,000 acres (3,600 km ²) of land which has previously not been developed for oil and gas production. harvest energy trust was formed in july, 2002. in 2006 it purchased the 115,000 bbl/d (18,300 m ³ / d) north atlantic refinery in come by chance, newfoundland and labrador from vitol refining group, b.v., and in so doing became the first canadian energy trust to own its own refinery. harvest had 924 employees and a market capitalization of us$ 3.22 billion at the end of 2007. on 22 december 2009, harvest closed its plan of arrangement with the korea national oil corporation, which offered c$ 10.00 per unit through its canadian subsidiary, knoc canada ltd. unitholders received cash payouts in late december, with non-canadian holders receiving payouts based on the exchange rate as of the date of closing. the harvest energy trust paid a high dividend, for example yielding an annual rate of 16.0% in early 2008; it also paid out monthly, a relative rarity for equities listed on the new york stock exchange. its dividend payments were not taxed at the regular dividend rate, but rather at a 15% " qualified dividends " rate; this is an additional tax advantage in the united states, and applies to many royalty trusts.