The Colonial Pipeline company, which operates a fuel pipeline in the United States, had temporarily suspended its operations on May 7, 2021, declaring that it was targeted by ransomware. Cyber ​​security company ESET drew attention to such attacks, stating that the attack on the Colonial fuel pipeline reminds us of the increasing cyber threats to critical infrastructures.

The Colonial pipeline system, which is about 9 thousand kilometers long, was affected by the cyber attack in the first week of May, and millions of barrels of gasoline, diesel and jet fuel could not be transported from the Gulf of Mexico to the East Coast.

Cyber Attacks Against Critical Infrastructures Increase | Devamı>>>

Global Spending on Renewable Energy to Hit $243 Billion in 2021, 22% Lower than Oil and Gas Spending.

Capital spending on renewable energy is in a period of robust growth and is on track to catch up with oil and gas spending.

According to the research data analyzed and published by ComprarAcciones.com, spending on renewable energy will rise by 8.5% in 2021 to $243 billion.

Global Spending on Renewable Energy to Hit $243 Billion in 2021 | Devamı>>>

Sustainability moved to the next level: SGB SMIT Group successfully tested 1st transformer in Germany with Nynas NYTRO® BIO 300X.

Together we have now reached the next level of more sustainable insulating liquids:NYTRO® BIO 300X is a true innovation that has now been fully tested and approved by Starkstrom-Gerätebau GmbH in Regensburg (Headquarter of SGB-SMIT Group), fulfilling, and even exceeding the requirements of the transformer operator, the German utility Westnetz.

Important Step Forward for Sustainable Transformers! | Devamı>>>

Getting a grip just got easier. Our NYTEX® range of naphthenic oils for winter tyres can improve rolling resistance and traction without compromising other properties.

Curious to find out what else we know about tyre oils? Check out our website and learn more about how to boost your tyre performance!

More Details: nynas.com

High Performance Tyre Oils Have a Name: NYTEX® | Devamı>>>

The widening rift between the world’s two largest economies – the United States and China – has had analysts and market observers using the phrase ‘Cold War’ to describe how far the two global superpowers could go in their increasingly heated dispute. A new Iron Curtain could mean attempts to decouple the intertwined economic and trade relations between the biggest economies in the world, market analyst John Kemp argues.

Such decoupling, however, will take decades and may not be even possible, considering the intertwined global supply chains, including in the energy markets.

Could Rising US-China Tensions Change Global Energy Markets? | Devamı>>>

Demand growth for refined oil products will never return to the levels it reached before the coronavirus outbreak, Citigroup said. As the global economy restarts, fewer people will fly and use their cars, analysts including Ed Morse wrote. With meetings going virtual and business no longer needing to move employees around the world in the same way as before, there will be powerful forces pushing a transition away from oil, they wrote in a report.

At its peak, the virus wiped out as much as 30% of total oil demand, and the market is still recovering.

Citigroup Says Oil Demand Will Never Reach Pre-Pandemic Levels | Devamı>>>

Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer of oil, though it could cut imports if it stopped adding to inventory (storage). China has stored so much oil over that half a decade, that it could practically halt all oil imports and get by just fine for a while.

How Russian and Saudi Oil Ties to China | Devamı>>>

The ongoing slide in global oil prices – catalyzed by the novel Coronavirus and fueled by structural issues including excess supply from oil giants like the U.S., Russia and Saudi Arabia, and slowing demand growth – is creating a new imperative for hydrocarbon revenue-dependent states to diversify their economies. This is particularly true for the oil and gas- producing nations of Central Asia led by Kazakhstan, Turkmenistan, and Uzbekistan, who are reliant on fossil fuel revenues to balance their budgets.

Central Asia Needs A Financing Solution To Low Oil Prices | Devamı>>>