Bitcoin recoups some losses after Musk-triggered tumble
Bitcoin popped back above $50,000 in Asian trade on Thursday, clawing back some of the 17% plunge that followed Elon Musk’s tweet that Tesla Inc (TSLA.O) would stop accepting the digital tokens as payment for its cars. The price of the world’s largest cryptocurrency dropped from around $54,819 to $45,700, its lowest since March 1, in just under two […]
Top U.S. fuel pipeline recovering from devastating ransomware attack
After a six-day outage, the top U.S. fuel pipeline on Thursday moved some of the first millions of gallons of motor fuels to East Coast states after throwing off a crippling cyberattack. The Colonial Pipeline Co, which can carry 100 million gallons per day of gasoline, diesel and jet fuel, resumed computer-controlled pumping after adding […]
Indian oil refiners cut output, imports as pandemic hits demand
India’s top 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 (IOC.NS), the country’s biggest refiner, has reduced runs to an average of between 85% and 88% of processing capacity, […]
Traders book tankers in Europe to ship gasoline across Atlantic after Colonial shutdown
Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations following a cyber attack that shut the United States’ top fuel pipeline network, Refinitiv Eikon data showed on Monday.
U.S. Southeast braces for fuel price rises after pipeline shutdown
The southeastern United States will be the first to see price rises at the pumps due to the supply disruption caused by the shutdown of the country’s top fuel pipeline network – and demand has already picked up as drivers fill their tanks, industry experts said on Sunday.
Siemens Energy cuts sales outlook on heels of Siemens Gamesa
Siemens Energy (ENR1n.DE), which supplies turbines to the power sector, on Wednesday lowered the upper end of its target range for 2021 sales, hurt by weaker-than-expected demand, project delays and the ongoing coronavirus crisis. Revenues are now expected to grow 3-8% in the year to September, compared with a previous range of 2-12%. According to Refinitiv […]
U.S. House panel discusses low-carbon fuel with airline, biofuel industries
Members of a U.S. House of Representatives subcommittee met on Tuesday with representatives from the biofuels and airline industries to discuss ways to expand production of low-carbon aviation fuel, the subcommittee chair told Reuters. The meeting is part of a broader push by lawmakers to advance climate and energy legislation amid calls by U.S. President […]
Oil rises on U.S., Europe demand growth optimism
Oil prices rose on Tuesday after more U.S. states eased lockdowns and the European Union sought to attract travellers, helping to offset concerns over fuel demand in India as COVID-19 cases soar. Brent crude futures were $1.30, or 1.92%, higher at $68.86 a barrel at 0943 GMT, after climbing 1.2% on Monday. U.S. West Texas […]
In energy-reliant Canada, banks and investors face dilemma in meeting emissions target
Canadian banks’ commitments to “net-zero financed emissions” by 2050 have drawn doubts from many investors, given the lack of a defined goal, details and their continued support for oil and gas companies, even if partially aimed at helping them transition to alternatives. But their growing funding for green projects also presents a dilemma for shareholders […]
NGOs call on ADB to end fossil fuel loans amid climate reboot
A group of non-governmental organisations called on the Asian Development Bank (ADB) on Monday to end loans to the fossil-fuels sector, as the international lender holds its annual meeting this week with a focus on a green economic recovery. The ADB, which finances initiatives aimed at boosting economic prospects for Asia’s poorest, is also reviewing […]
