Category: Oil & Gas

The Colonial Pipeline on Wednesday (local time) announced that it has begun a restart of its operations, days after a cyberattack forced the company to shut down, leading to gas shortages in the United States. According to The Hill, it began the restart at about 5 pm on Wednesday, but it will take “several days” […]

Vedanta Ltd’s Cairn Oil & Gas on Wednesday said it has commenced oil production from NA #01 facility in Aishwariya Barmer Hills in Rajasthan. “The project is a first in Cairn’s tight oil portfolio with a growth potential to contribute 20 per cent to the company’s vision production,” the company said in a statement. Cairn […]

(Reuters) – India’s April fuel demand slipped from the previous month as the world’s third largest oil consumer bore the brunt of raging coronavirus infections, with the prospect of further restrictions weighing on the outlook. Consumption of fuel, a proxy for oil demand, fell 9.4% to 17.01 million tonnes from March, data from the Petroleum […]

Petrol and diesel prices on Tuesday were hiked for the sixth time this month, propelling prices to cross the Rs 100-a-litre-mark in places from Nanded in Maharashtra to Rewa in Madhya Pradesh to Jaisalmer in Rajasthan. Petrol price was hiked by 27 paise a litre and diesel by 30 paise per litre, according to a […]

(Reuters) -Gas stations from Florida to Virginia began running dry and prices at the pump rose on Tuesday, as the shutdown of the biggest U.S. fuel pipeline by hackers extended into a fifth day and sparked panic buying by motorists. The administration of U.S. President Joe Biden projected that the Colonial Pipeline, source of nearly […]

LONDON/NEW YORK (Reuters) -Refiners booked at least five tankers to store gasoline stranded at U.S. Gulf Coast plants following a cyberattack that crippled the biggest fuel pipeline in the country, according to sources and shipping data on Tuesday. The attack on the Colonial pipeline network, which supplies half of the fuel consumed along the East […]

India’s top state oil refiners are reducing processing runs and crude imports as the surging COVID-19 pandemic has cut fuel consumption, leading to higher product stockpiles at the plants, company officials told Reuters on Tuesday. Indian Oil Corp, the country’s biggest refiner, has reduced runs to an average of between 85% and 88% of processing […]

OPEC on Tuesday stuck to its prediction of a strong recovery in world oil demand in 2021 as growth in China and the United States counters the coronavirus crisis in India, an outlook that bolsters the group’s plan to gradually ease output cuts. The Organization of the Petroleum Exporting Countries expected demand to rise by […]

Oil and gas company Vedanta Limited has started setting up a 100-bed field hospital for coronavirus patients in Barmer district of Rajasthan, according to a release. The hospital, a part of the company’s initiative of creating an additional capacity of 1,000 critical care beds across 10 cities of the country, will be ready in the […]

Indian public sector banks with substantial presence abroad are legally ready to mount a challenge abroad to counter any efforts by Cairn Energy to attach their assets. The development comes on the back of Cairn Energy saying on Tuesday that it was taking all necessary action to access the $1.7 billion it was awarded by […]

UK’s Cairn Energy Plc on Tuesday said it is taking all necessary actions to access the USD 1.7 billion it was awarded by an international arbitration tribunal after overturning a retroactive tax demand slapped by the Indian government. The Scottish firm invested in the oil and gas sector in India in 1994 and a decade […]

WASHINGTON (Reuters) -The White House declined to weigh in Monday on whether companies that are hacked like Colonial Pipeline should pay ransom to their attackers, but a national security official said it may offer some advice in the future. Anne Neuberger, deputy national security adviser for cyber, told reporters that the FBI has been tracking […]