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May 23, 2021 · Williams Companies' 2020 guidance was for almost $2 billion in dividends with roughly $1.5 billion in capital expenditures and several hundred million in FCF after this. Across 2021, the numbers ...
May 10, 2021 · Oil prices rose in overnight trading following Colonial Pipelines cyberattack which raised concerns about supply disruption, outweighing increased coronavirus cases in Asia. "The bullish ...
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May 12, 2021 · Started as a joint venture between nine large oil companies, today it is worth about $8 billion, based upon the most recent sale of an 10.1% stake to a unit of Royal Dutch Shell in 2019. Colonial ...
- Colonial Pipeline: The Biggest Fuel Conduit in The U.S.
- What Happened
- Impact on Supplies and Consumer Prices
- Fears of Inflation
- Alternate Supply Arrangements
- Government Action
- Winners & Losers
- Service Restoration Update
- Wrap-Up
- Zacks' Top Picks to Cash in on Artificial Intelligence
Colonial Pipeline carries around 2.6 million barrels of gasoline, diesel, jet fuel and other products each day from the Texas Gulf Coast refining hub to the New York metropolitan area. It has two primary shipping lines, Line 1 (for gasoline) and Line 2 (for other fuels). In particular, the 5,500-mile system transports almost half of all fuel consum...
On Friday, the pipeline was crippled following a cyberattack by hackers who took control of the computer systems and demanded a ransom to release them. The breach, which also affected some of its information technology systems, forced Colonial Pipeline, the Alpharetta, GA-based private company, to temporarily stop all operations. With the help of c...
The disruption has led to long lines at the pump, driven up prices and left thousands of service stations along the U.S. East Coast without fuel to sell. As North America’s biggest fuel pipeline’s shutdown dragged on, panic buying has worsened the supply situation and increased gas prices in several Southeast states. According to the American Autom...
The supply shock comes at a time the country’s energy industry is starting to rebound sharply on vaccine progress and the ongoing macroeconomic recovery. Moreover, with the peak summer driving season approaching, demand was expected to be strong with Americans again taking to the streets following a year of curbs. A prolonged outage could also flar...
The sudden interruption left traders and crude retailers scrambling to get supplies via sea or other alternatives to send fuel to the East Coast. Some emergency barrels of gasoline and diesel are already on their way from Texas to the southeastern cities via truck. Moreover, with refiners including Valero Energy VLO desperately looking for space to...
The White House established an interagency task force to address the attack, while easing a raft of safety and environmental guidelines to facilitate the transportation of fuel by truck, ship or even rail to tackle shortages at big cities and airports. At the same time, Washington officials sought to calm the public that there is nothing to cause a...
Industry observers believe that PBF Energy PBF, a refiner with a large footprint in the Northeast, could benefit from the Colonial Pipeline downtime. They also see windfall gains for energy infrastructure provider Kinder Morgan KMI as it strives to carry additional volumes through its pipeline systems. On the other hand, downstream biggie Marathon ...
Down since late Friday, the Colonial Pipeline operator, which manually resumed operations on a segment (from North Carolina to Maryland) on Monday, was hopeful of reaching its “goal of substantially restoring operational service by the end of the week”. Per the latest updates, the conduit returned to service Wednesday evening.
It remains unclear as to when this major fuel artery will be fully back online from the ransomware attack. But what is clear is that despite being the safest and most cost-efficient delivery network to transport petroleum products around the country, pipelines are highly vulnerable to sophisticated intrusions that could play havoc with the nation’s...
In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today. See 3 Artificial Intelligence Stocks With Extreme Upside Potent...
May 12, 2021 · InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The cyberattack that shut down U.S. gas pipeline Colonial Pipeline is a good reason for investors to take a renewed look at ...
May 14, 2021 · WTI settled at $66.08 on Wednesday, the highest since March 5, when prices finished at their highest since April 2019. On Friday, June gasoline RBM21 rose 1.5% to $2.13 a gallon, ending less than ...
