CNBC The U.S. wants Russia to pivot away from China, and may be showing flexibility on sanctions as an “olive branch,” according to Daniel Yergin, vice chairman of IHS Markit. Washington on Wednesday imposed sanctions on some vessels and entities involved in the construction of the Nord Stream 2 pipeline that would bring natural gas from Russia to Germany. But
Bloomberg (Bloomberg) — Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to two people familiar with the transaction. The company paid the hefty ransom in difficult-to-trace cryptocurrency within hours after
Reuters BERLIN -The United States is waiving sanctions on the company behind Russia’s Nord Stream 2 pipeline to Europe and its chief executive, Germany said on Wednesday, giving Berlin and Washington three more months to resolve a long-standing row. The stand-off over the completion of the $11 billion venture, led by Russian state energy firm Gazprom, has strained ties at
Fox Business The communications system used by shippers on the Colonial Pipeline, which transports more than 100 million gallons of fuel per day, nearly half of the East Coast’s supply, has been knocked offline. “Our internal server that runs our nomination system experienced intermittent disruptions this morning due to some of the hardening efforts that are ongoing and part of our restoration
Reuters WASHINGTON – Colonial Pipeline ramped up deliveries to fuel-starved markets up and down the East Coast on Friday following a nearly week-long outage caused by hackers, as Washington sought to reassure motorists that supplies would return to normal soon. The strike on the nation’s largest fuel pipeline was most disruptive cyberattack on record, triggering days of widespread panic buying
CNBC Gas prices have jumped more than 8 cents in the last week as the Colonial Pipeline shutdown disrupted a crucial artery in the U.S. petroleum industry. The company said it began to restart operations around 5 p.m. ET Wednesday evening, and said Thursday morning that “product delivery has commenced in a majority” of markets. Colonial Pipeline is aiming to
CNBC Oil prices fell more than 2% on Thursday as India’s coronavirus crisis deepened and a key U.S. pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound in global demand later in the year. Brent crude was down 2.4%, or $1.69, at $67.63 a barrel, after rising 1%
Reuters Colonial Pipeline paid nearly $5 million to Eastern European hackers on Friday after a crippling cyberattack that shut the largest fuel pipeline network in the United States, Bloomberg News reported, citing two people familiar with the transaction. The company paid the ransom in untraceable cryptocurrency within hours after the attack, according to the report. (bloom.bg/3hnngHz) Colonial Pipeline did not
Reuters WASHINGTON -The shutdown of the biggest U.S. fuel pipeline by a ransomware attack highlights a systemic vulnerability: Pipeline operators have no requirement to implement cyber defenses. The U.S. government has had robust, compulsory cybersecurity protocols for most of the power grid for about 10 years to prevent debilitating hacks by criminals or state actors. But the country’s 2.7
Reuters Supplies of gasoline tightened further in parts of the United States on Tuesday as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps heading into the summer driving season. The Colonial Pipeline said it was working to “substantially” resume operations by the end of this week
CorEnergy Infrastructure Trust, Inc. (“CorEnergy” or the “Company”) today announced fin…
Reuters LONDON – 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. The attack forced the Colonial Pipeline to shut down its entire system on Friday, stoking expectations of gasoline shortages along the U.S. East
