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Biggest oil storage problem is in US: Daniel Yergin IHS Markit Vice Chairman Daniel Yergin argues the next four weeks will be a particularly rough time for the oil industry as demand stays low. WASHINGTON - Nine companies including Chevron, Exxon and Alon USA have agreed to rent space to store 23 million barrels of crude in the U.S. emergency oil […]
Read moreAirbus reported 481 million euros ($515 million) in losses in the first quarter, put thousands of workers on furlough and sought billions in loans to survive the coronavirus crisis and its CEO said Wednesday the aviation industry’s unprecedented troubles are still at an “early stage.” Even after virus-related travel restrictions eventually ease, Chief Executive Guillaume Faury acknowledged it will take […]
Read moreIn a sign of the energy industry’s desperation for places to store petroleum, oil traders are resorting to hiring expensive U.S. vessels to store gasoline or ship fuel overseas, shipping sources said. Oil fell on Tuesday, adding to huge declines in the previous session, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only […]
Read morePeople + Work Connect was designed by Chief Human Resource Officers from Accenture, Lincoln Financial Group, ServiceNow and Verizon and the service is free of cost. As unemployment surpasses record highs due to COVID-19, a group of leading companies from multiple industries has formed People+Work Connect, an employer-to-employer initiative that brings together companies laying off or furloughing people with those […]
Read moreThe airlines is also working to bring out new operating procedures which will prioritise health and safety Once the coronavirus lockdown is over in India and commercial passenger flights are permitted again, IndiGo will deep clean its aircraft more frequently, stop in-flight meal service for a brief period and will fill the maximum 50% seats in airport buses, airline’s CEO […]
Read moreAssets to be transferred; central functions to remain at TML The board of Tata Motors Ltd. (TML) has given in-principle approval to turn the company’s Passenger Vehicle (PV) business (including electric vehicles) into a subsidiary by transferring relevant assets, intellectual property rights and employees directly related to the PV business, for it to be fully functional on a standalone basis […]
Read moreFirm to raise LPG output; no need for panic-booking, it says India’s largest fuel retailer Indian Oil Corporation (IOC) has cut down the throughput from its refineries across the country by almost 30% as the demand for petroleum products such as petrol, diesel, aviation turbine fuel (ATF), fuel oil and bitumen, has reduced substantially following the outbreak of COVID-19 in […]
Read moreAir India’s total earnings per day are around ₹60-65 crore and 90% of this comes from passenger revenue. Flag carrier Air India is expected to incur losses to the tune of ₹30-35 crore per day following the suspension of operations in the wake of coronavirus pandemic, according to a source. With stringent border controls across the countries to restrict movement […]
Read more(Amended the story to say BT will retain a strong presence in France) Shares of BT Group plc (BT_A.L,BT) and Computacenter plc (CCC.L) were gaining Tuesday morning in London after the companies announced Tuesday that they have entered exclusive negotiations for the sale of BT’s domestic operations in France to Computacenter. The transaction is subject to consultations with works councils […]
Read moreCuraleaf Holdings Inc. said it has received an ‘Essential Services Designation’ in key markets, allowing its medical dispensaries to remain open during the COVID-19 outbreak. The Massachusetts-based cannabis company added that it will hire across its retail, cultivation and processing facilities. In addition, Curaleaf said it will acquire three Arrow Alternative Care or AAC dispensaries in the state of Connecticut, […]
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