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In 2021, the Texas-to-New York Colonial Pipeline suffered a ransomware attack. The pipeline carries 55% of the gasoline, diesel and jet fuel consumed on the US East Coast. It resumed only after a $4.4 million ransom was paid in bitcoins in exchange for a decryption tool.

The delayed OPEC+ meeting next week will be held online instead of in-person as the cartel wrangles over production levels amid a slump in oil prices.

BEIJING — Chinese electric car company BYD said Friday that it launched its flagship Han sedan in the United Arab Emirates this week.

Atletico Madrid, the renowned Spanish football club, is suing Singapore-based crypto exchange WhaleFin, following the unexpected termination of its $44 million shirt sponsorship deal.

By Colleen Howe

Investing.com-- Oil prices rose slightly in Asian trade on Friday as traders remained on edge over a delay in an OPEC+ meeting, although expectations of more supply cuts by the cartel put prices on course to break a four-week losing streak.

By Farah Saafan and Suleiman Al-Khalidi

Qatar Airways has been renewed as the airline sponsor for the men’s World Cup in 2026 in North America and the 2030 tournament expected to be in Europe, Africa and South America

India's crude oil imports rose in October, after falling in the previous four months, as the world's third biggest oil importer and consumer shipped in more fuel to meet winter demand, Petroleum Planning and Analysis Cell (PPAC) data showed on Thursday. Crude imports in October rose 5.9% month-on-month to 18.53 million metric tons, rebounding from a one-year low in September. India's fuel consumption also rose to a four-month high in October, as increased industrial activity boosted sales during the festive season and the onset of winter, government data showed earlier in the month. «With demand picking seasonally up as we approach the end of the year, there was a higher need to import more crude to cover higher demand for refined products,» said UBS analyst Giovanni Staunovo. The year-on-year rise in imports is due to the rise in domestic demand, supported by solid economic growth, Staunovo added. Data from the PPAC website also showed product imports rising 13.4% to 4.41 million tons from October last year and product exports 12.6% higher over the same period to 4.47 million tons. On a monthly basis, product imports rose 7.6% in October, while exports fell 7%. OPEC's share in India's oil imports in October hit a 10-month high as refiners bought more crude from Saudi Arabia and the United Arab Emirates after discounts narrowed for Russian oil that month, trade data showed. Indian refiners have slowed Russian oil imports in recent months from the nearly 2 million barrels per peak seen earlier this year as discounts have narrowed. (Reporting by Tina Parate and Anjana Anil in Bengaluru; Editing by Mark Potter)

Unicommerce saw its operating revenue jump 52.5% to Rs 90 crore in financial year 2023 from Rs 59 crore in FY22. Net profit rose 8% to Rs 6.45 crore from Rs 5.98 crore in FY22, according to its financial statements, filed with the Registrar of Companies (RoC). Unicommerce’s expenses ballooned to Rs 84.1 crore in FY23 from 54.4 crore in FY22. A significant amount of the expenditure was attributed to an increase in employee benefit expenses, server costs and other expenses.

By Natalie Grover

OpenAI over the past four days has sparked calls for reducing dependence on the use of a single Generative Artificial Intelligence (GenAI) tool by technology and startup executives that use the product or were planning to sign up. On Wednesday, OpenAI confirmed that Sam Altman was being restored as the CEO, bringing closure to the meandering saga at the most important GenAI company in the world. The twists and turns since his initial ouster had kept everyone in the startup community on tenterhooks.

Narendra Modi said on Wednesday. Speaking to the world leaders at the opening of the Virtual G20 Leaders Summit, Modi said the leaders have come together at the summit to find a solution to major global issues. "Disturbances and security-related issues in West Asia are a matter of concern for all of us," Modi said.

(Reuters) -OPEC+ has delayed its ministerial meeting to set output policy to Nov. 30 from Nov. 26, OPEC said in a statement on Wednesday, a surprise development that sparked a further drop in oil prices.

Investing.com — Oil prices traded sharply lower Wednesday after a group of top producers delayed its meeting to set output policy, creating uncertainty about future supply levels. 

By Paul Carsten

OPEC's share in India's oil imports in October hit a 10-month high as refiners bought more crude from Saudi Arabia and the United Arab Emirates after discounts narrowed for Russian oil that month, trade data showed. Russia's share of the Indian market in October slipped to the lowest in nine months, according to Reuters calculations based on ship tracking data from trade sources. India, the world's third-biggest oil importer and consumer, typically relies on producers in the Middle East for most of its oil needs and has encouraged refiners to diversify to cheaper alternatives to cut costs. The South Asian nation has emerged as the top buyer of the Russian seaborne oil sold at a discount after Western nations stopped buying from Moscow following its invasion of Ukraine. India imported about 4.7 million barrels per day (bpd) of crude in October, up 8.4% from the previous month as refiners increased purchases to meet higher local fuel demand during the festive season, the data showed. Imports from Saudi Arabia and the United Arab Emirates jumped to a 7-month high, up about 53% and 63% respectively in October from the previous month, the data showed. That helped lift the share of the producers in the Organization of the Petroleum Exporting Countries to 54% in October, up from 50% in September, according to the data. India imported on average 1.56 million barrels per day (bpd) of Russian oil in October, up 1.2% from the previous month, the data showed. Despite the increase, Russian oil's share in India's October imports slipped to 33% from 35% in September. Russia was the top oil supplier to India in April to October, the first seven months of this fiscal year to March 2024, followed by Iraq and Saudi Arabia. Higher

India's oil imports in October hit a 10-month high as refiners bought more crude from Saudi Arabia and the United Arab Emirates after discounts narrowed for Russian oil that month, trade data showed. Russia's share of the Indian market in October slipped to the lowest in nine months, according to Reuters calculations based on ship tracking data from trade sources. India, the world's third-biggest oil importer and consumer, typically relies on producers in the Middle East for most of its oil needs and has encouraged refiners to diversify to cheaper alternatives to cut costs. The South Asian nation has emerged as the top buyer of the Russian seaborne oil sold at a discount after Western nations stopped buying from Moscow following its invasion of Ukraine. India imported about 4.7 million barrels per day (bpd) of crude in October, up 8.4% from the previous month as refiners increased purchases to meet higher local fuel demand during the festive season, the data showed. Imports from Saudi Arabia and the United Arab Emirates jumped to a 7-month high, up about 53% and 63% respectively in October from the previous month, the data showed. That helped lift the share of the producers in the Organization of the Petroleum Exporting Countries to 54% in October, up from 50% in September, according to the data. India imported on average 1.56 million barrels per day (bpd) of Russian oil in October, up 1.2% from the previous month, the data showed. Despite the increase, Russian oil's share in India's October imports slipped to 33% from 35% in September. Russia was the top oil supplier to India in April to October, the first seven months of this fiscal year to March 2024, followed by Iraq and Saudi Arabia. Higher intake of

Saudi Arabia's Crown Prince Mohammed bin Salman on Tuesday urged all nations to cease weapon exports to Israel, according to Al Arabiya Post. Saudi Arabia's Crown Price made this request during an extraordinary BRICS Joint Meeting, which was being held virtually to address the Israel-Hamas conflict. South Africa is hosting the BRICS groups of nations to convene the virtual BRICS Extraordinary Joint Meeting. Saudi Arabia further demanded the start of a serious and comprehensive peace process to establish a Palestinian state along the borders of 1967, reported Al Arabiya Post. «The Kingdom's position is constant and firm; there is no way to achieve security and stability in Palestine except through the implementation of international decisions related to the two-state solution,» he stressed. The Saudi Crown Prince restated the country's rejection of Israel's military operations in the Gaza Strip and demanded an immediate halt to them. Additionally, he said that the «brutal crimes» unfolding in Gaza demand a collective effort to bring them to an end, Al Arabiya Post reported. At the meeting, the Crown Prince reiterated Saudi Arabia's rejection of the forced displacement of Palestinians from the Gaza Strip and called for collective efforts to stop the deterioration of the humanitarian conditions in the enclave. Since the beginning of the war, Saudi Arabia has made tireless efforts to protect civilians in the Gaza Strip, he added. The BRICS extraordinary meeting was hosted by the BRICS chair South Africa who accused Israel of war crimes and «genocide» in the Palestinian territory.

₹6,470 per bbl, having swung between ₹6,420 and ₹6,500 per bbl during the session so far, against a previous close of ₹6,543 per barrel. Also Read: Crude below $80/barrel to support OMCs in near-term; ONGC, Oil India key beneficiaries of high prices -Between now and the weekend meeting, traders will get fresh insights into US fundamentals with the release of official figures on crude and product stockpiles. Nationwide crude inventories have expanded for the past four weeks to the highest since August.

Investing.com — Oil prices retreated Tuesday, handing back some recent gains amid caution ahead of the weekend’s eagerly-awaited meeting of a group of top producers.