Category: Oil & Gas

(Reuters) -The White House was working closely with top U.S. fuel pipeline operator Colonial Pipeline on Sunday to help it recover from a ransomware attack that forced the company to shut a critical fuel network supplying populous eastern states. The attack is one of the most disruptive digital ransom schemes reported and has prompted calls […]

Oil rose on Monday after major US fuel pipeline operator Colonial Pipeline had to shut fuel pipelines due to a cyberattack, raising concerns about supply disruption and pump price increases. Colonial Pipeline said on Sunday its main fuel lines remained offline after the attack that shut the system on Friday, but some smaller lines between […]

TOKYO (Reuters) – Crude prices climbed more than 1% on Monday after a major cyber attack that forced the shutdown of critical fuel supply pipelines in the United States, highlighting the fragility of oil infrastructure. Brent crude was up by 76 cents, or 1.1%, at $$69.04 a barrel by 0039 GMT, having risen by l.5% […]

Petrol and diesel prices on Monday hit record highs across the country after rates were increased for the fifth time in a week, following which Maharashtra joined Rajasthan and Madhya Pradesh in the league of states where petrol rates breached the Rs 100-a-litre mark. Petrol price was hiked by 26 paise a litre and diesel […]

A fire erupted on Monday at Kuwait’s largest oil field, injuring two workers, the country’s state-run news agency reported. The injured workers were in stable condition and receiving treatment at a nearby hospital, according to the state-run KUNA news agency, citing Qusai al-Amer, the Kuwait Oil Company spokesman. The blaze at the Great Burgan Field […]

Saudi Arabia’s non-oil economy — the engine of job creation — grew in the first quarter for the first time since the pandemic hit, even as the overall economy was dragged into contraction by oil production cuts. The non-oil sector grew 3.3 per cent from a year earlier, according to preliminary estimates released on Monday […]

(Reuters) – Occidental Petroleum Corp on Monday surpassed Wall Street expectations by reporting a smaller first-quarter loss than a year ago, boosted by earnings from chemicals and oil exports. The company benefited from a rebound in oil prices, up about 23% during the first quarter, as fuel demand recovered after being decimated last year by […]

Government-headhunter PESB on Monday selected the next chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), in signs that the privatisation of the state-owned oil refining and marketing firm may be delayed. The government had kept the position of chairman and managing director vacant after D Rajkumar retired in August last year. It was […]

The US Interior Department said Friday that it would not pursue a Trump administration proposal that critics feared would have weakened rules for exploratory oil and gas drilling in Arctic waters. A statement from the department said existing regulations released in 2016 remain in effect and “are critical to ensuring adequate safety and environmental protections […]

Colonial Pipeline is working to restore operations after a cyber-attack prompted the company to take its systems offline, threatening the supply of refined petroleum products to gas stations in major cities on the U.S. eastern seaboard. Colonial, which runs the largest U.S. gasoline and diesel pipeline system, has hired a third-party cybersecurity firm to investigate […]

Petrol and diesel prices in the country remained unchanged on Saturday as oil marketing companies (OMCs) decided to pause the daily revision process and closely study global oil price movement before effecting any change in the domestic market. Accordingly, petrol price remained at previous days level of Rs 91.27 a litre and diesel Rs 81.73 […]

Vedanta shares rallied 7 per cent and hit a three-year high of Rs 287.50 on the BSE in intra-day trade on Friday on healthy and improving operating performance, supported by stable volume across business segments and increased commodity prices. The stock was trading at its highest level since May 2018. Vedanta was trading higher for […]