Koch Family and Some Foreign Pensions Control Colonial Pipeline
Posted on 05/12/2021
Colonial Pipeline is the operator of the biggest gasoline pipeline in the U.S. Colonial Pipeline ceased operations after a ransomware attack. Gas shortages have spread from Baltimore to Florida. North Carolina has been the state hardest-hit by fuel shortages.
With gas fuel shortages plaguing the Eastern U.S. states, Colonial Pipeline reportedly has no plans to pay rumored US$ 5 million-plus ransom to hackers who have paralyzed the key gas pipeline. U.S. President Joe Biden vows to get the fuel crisis “under control” with pressure mounting on his administration to do more. “I think this is something that demands really serious federal attention. This was essentially a cyberattack on critical infrastructure in our country,” Florida Governor Ron DeSantis said to the media.
10 Best TSX Stocks to Buy Right Now
The Canadian stock market has recovered from the COVID-19 pandemic quicker and better than the American counterparts in New York. On May 6, the S&P/TSX Composite Index, the benchmark that represents more than 70% of the total market capitalization on the Toronto Stock Exchange (TSX), closed at 19,310.74 points, up more than 120 points, and hit an intraday high of 19,340.25, just 100 points off a record points total. The hike came the same day as the Dow Jones industrial average hit an all-time high.
However, the Dow was up slightly by a lower points total of 97 to close at 34,230.34. In intraday trading, it had climbed to a record 34,331.20 points. The Canadian market was boosted by growth in the industrial, energy, and technology services sectors. These sectors comprise some of the biggest companies in Canada that are on the rebound trail as the coronavirus vaccine rollout allows for business to resume as normal. Some of these firms are dual-lis
Marathon Oil Reports First Quarter 2021 Results
Generates Significant Free Cash Flow, Reduces Gross Debt, Raises Base Dividend
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HOUSTON, May 5, 2021 /PRNewswire/ Marathon Oil Corporation (NYSE:MRO) reported first quarter 2021 net income of $97 million, or $0.12 per diluted share, which includes the impact of certain items not typically represented in analysts earnings estimates and that would otherwise affect comparability of results. The adjusted net income was $166 million, or $0.21 per diluted share. Net operating cash flow was $622 million, or $637 million before changes in working capital
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First quarter free cash flow of $443 million
First quarter capital expenditures of $184 million; committed to capital discipline with no change to $1 billion 2021 capital expenditure budget
10 Best Cheap Oil Stocks to Buy in 2021
For the past several years, the oil industry has seen enormous growth in demand and revenue. However, the coronavirus crisis hammered the industry as demand crashed, production plants shuttered and the market saw a supply glut that have no precedents. According to an article published in Deloitte, oil demand is forecasted to rebound strongly in 2021. However, it will still be 4% lower than pre-COVID-19 in the base case.
The Association of Petroleum Exporting Countries (OPEC) is a 13-country intergovernmental organization founded in 1960 by its first five founders, the Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. In 2020, OPEC held 79.1% of the world’s proven oil reserves. In 2021, according to the latest Short Term Energy Outlook (STEO), OPEC sales are expected to rise marginally to $397 billion due to a larger output as global demand increases and a rise in crude oil prices.
Tunisia: Zenith Energy acquires Robbana and El Bibane concessions from Candax
30 Apr 2021
Zenith Energy, the listed international oil & gas production company focused on pursuing African development opportunities, has announced that, its market announcement dated April 21, 2021, Compagnie Du Desert ( CDD ), its recently incorporated fully owned subsidiary, has entered into a share purchase agreement ( SPA) with
Candax Energy for the acquisition of a 100 percent interest in Candax s fully owned subsidiary in Barbados,
Ecumed Petroleum Tunisia Ltd ( EPT ), which holds a 100% interest in the
El Bibane and Robbana concessions in Tunisia.
Terms
Pursuant to the terms of the SPA, CDD has agreed to acquire 100% of the issued share capital of EPT for a nominal consideration of US$100 payable at completion, as well an additional consideration of approx. USD$200,000 in the form of assumption of debt payable by the close of May 2021.