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By Nidhi VermaNEW DELHI (Reuters) - Oil tanker Hafnia Seine bound for the United States from Sikka port in Western India hit Bharat Petroleum Corp's (BPCL) crude import facility in an accident late on Sunday, two sources with the knowledge of the matter said on Monday. "It appears to have hit the peripheral structure of the single point mooring (SPM)," one of the sources said, adding that no vessel is scheduled to discharge at its SPM currently. BPCL has a single point mooring at Sikka to import crude for its landlocked Bina refinery in central India. The sources declined to be identified because they were not authorised to speak publicly about the matter. (Reporting by Nidhi Verma; Writing by Mohi Narayan; Editing by Jamie Freed)
Persons: Nidhi Verma, BPCL, RIL, Mohi Narayan, Jamie Freed Organizations: Nidhi Verma NEW DELHI, Bharat Petroleum, Reliance Industries, SPM Locations: United States, Western India, Jamnagar, Gujarat, Bina, India
Read previewChina Evergrande — the world's most indebted property developer — received a liquidation order from a Hong Kong court on Monday, but there may be little left to recover, said experts. Hong Kong-listed China Evergrande Group's stock price plunged 21% before the court hearing. But several experts BI spoke to prior to Monday's court order said Evergrande's liquidation will be challenging. AdvertisementIt's bad news for creditors, Mat Ng, the managing director at Grant Thornton, a professional services firm that specializes in restructuring, told BI. Despite the complications that could come with Evergrande's liquidation, there may be some upside in the longer run.
Persons: , Evergrande, Liquidators, Linda Chan, Chan, Siu Shawn, Mat Ng, Grant Thornton, Ng, That's, John Bringardner, Bringardner, Daniel Margulies, Margulies, Andrew Collier Organizations: Service, Business, Evergrande, Reuters, Trading, Securities Times, Deloitte, Investors, Orient Capital Research Locations: China, Hong Kong, Evergrande, Asia
These Penguins Are Better at Napping Than You
  + stars: | 2023-11-30 | by ( Nidhi Subbaraman | ) www.wsj.com   time to read: 1 min
Winston Churchill famously napped, and companies like Zappos encourage employees to doze on the job to improve their effectiveness. But nobody beats the chinstrap penguin for its power-napping prowess.
Persons: Winston Churchill
One Russian banking source close to the Russian central bank said receiving revenue in a non-convertible currency with little value outside India was "pointless". They said, however, the problem remained of finding a viable alternative to the dollar, and that the problems affect buyers in Africa, China and Turkey which have become top buyers of Russian oil. The biggest issue, however, concerns India, which has been buying more than 60% of Russian seaborne oil, according to LSEG data and Reuters calculations. India's top refiner Indian Oil Corp (IOC.NS) is struggling to settle some payments, mainly for the purchase of Russia's light, sweet Sokol grade from the Sakhalin 1 project. From October, several UAE banks have tightened control over Russia-focused clients to ensure compliance with the price cap, according to five oil trading and bank sources.
Persons: Yang Mei Hu, Tatiana Meel, Ivan Nosov, Sokol, YUAN, Barbara Lewis Organizations: COSCO Shipping, REUTERS, U.S ., UAE, Reuters, Indian Oil Corp, Sokol, IOC, UAE dirhams, Thomson Locations: Nakhodka, Russia, Ukraine Russian, MOSCOW, DELHI, Ukraine, India, Russian, Hong, Africa, China, Turkey, Washington, Moscow, United States, Russia's, Sakhalin, UAE
Biogas, methane collected from dairy farms, is piped into a cleaning facility at the Calgren facility in Pixley, California, U.S., October 2, 2019. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW DELHI, Nov 25 (Reuters) - India will start blending compressed biogas with natural gas to boost domestic demand and cut reliance on natural gas imports, the government said in a statement on Saturday. The mandatory phased introduction will start at 1% for use in automobiles and households from April 2025, it said. The government also aims to have 1% sustainable aviation fuel (SAF) in aircraft turbine fuel by 2027, doubling to 2% in 2028. The SAF targets will initially apply to international flights, the statement said.
Persons: Mike Blake, Nidhi Verma, Krishn Kaushik, Mike Harrison Organizations: REUTERS, SAF, Thomson Locations: Pixley , California, U.S, DELHI, India
The logo of Oil and Natural Gas Corp's (ONGC) is pictured along a roadside in Ahmedabad, India, September 6, 2016. The comments come after India's finance minister announced a plan this year to provide equity of 300 billion rupees ($3.6 billion) to help the big state oil refiners move towards cleaner energy. Based on rights issues previously announced by two other state refiners, an ONGC issue could amount to about 155 billion Indian rupees ($1.86 billion), Reuters calculations show. ONGC, HPCL and the oil and finance ministries did not immediately respond to requests for comment. India's other big state refiners, Indian Oil Corp (IOC.NS) and Bharat Petroleum Corp (BPCL.NS) have announced plans to launch rights issues of 220 billion and 180 billion rupees, respectively.
Persons: Amit Dave, ONGC, Nidhi Verma, Tony Munroe, Clarence Fernandez Organizations: Gas, REUTERS, Natural Gas Corp, Hindustan Petroleum Corp, Indian Oil Corp, Bharat Petroleum Corp, IOC, Thomson Locations: Ahmedabad, India, DELHI, New Delhi, HPCL, ONGC, BPCL
All three Aframax-sized tankers discharged Russian Sokol crude in India in September while two of them made the trip in October, the data showed. One trader also said India may seek supply from the Mediterranean and North Sea to replace Russian Sokol. A spike in global prices led to Russian oil being sold at above the price caps imposed by western nations of $60 a barrel. The three vessels last year obtained safety certification from the Indian Register of Shipping (IRClass), according to its website. Sokol crude is produced at the Sakhalin-1 project, managed by a Rosneft subsidiary after the exit of ExxonMobil (XOM.N).
Persons: Dado Ruvic, IRClass, Sokol, India's ONGC Videsh, Florence Tan, Muyu Xu, Nidhi Verma, Jacqueline Wong, Raju Gopalakrishnan, Sharon Singleton Organizations: REUTERS, Sokol, Washington, Indian Oil Corp, Liberian, Ligovsky, Treasury Department, Russian Sokol, IOC, Indian Register of Shipping, Oil Tanker, Sun Ship, American Bureau of Shipping, ExxonMobil, Natural Gas Corp, Sakhalin Oil, Gas Development, Thomson Locations: SINGAPORE, DELHI, LSEG, U.S, Washington, Moscow, Ukraine, Kazan, India, North, Gujarat, Dubai, London, Sakhalin, Singapore, New Delhi
What’s Wrong With Peer Review?
  + stars: | 2023-11-10 | by ( Nidhi Subbaraman | ) www.wsj.com   time to read: 1 min
The latest in a series of high-profile retractions of research papers has people asking: What’s wrong with peer review? Scientific and medical journals use the peer-review process to decide which studies are worthy of publication. But a string of questionable or allegedly fabricated research has made it into print. The problems were exposed only when outside researchers scrutinized the work and performed a job that many believe is the responsibility of the journals: They checked the data.
Crude oil accounts for about a third of India's overall imports by value. Access to cheap Russian oil enabled India to cut imports from the Middle East, where prices strengthened following Saudi Arabia's voluntary additional supply cuts since July. India imported 69.06 million metric tons of Russian oil, equivalent to 1.85 million barrels per day (bpd), between January and September, commerce ministry data showed, including Russian oil imported from South Korea, Greece and Spain through transshipments. The average price for Russian oil delivered to Indian refiners was $525.60 per ton during that period, including shipping and insurance costs, Reuters calculations based on ministry data showed. Discounted Russian oil cuts India's crude import billIndia saved at least $2 billion in buying discounted Russian oilBy importing Russian oil, Indian refiners benefit from lower feedstock costs, which have buoyed gross refining margins and curtailed revenue loss from subsidised retail fuel sales.
Persons: Dado Ruvic, India doesn't, Nidhi Verma, Florence Tan, Tony Munroe, Christina Fincher Organizations: REUTERS, Saudi, Iraq, Saudi Arabia, Thomson Locations: DELHI, India, Europe, Moscow, Ukraine, South Korea, Greece, Spain, transshipments, Russia, Saudi, Sokol, China
In July, some scientists claimed to find a superconductor that would work at room temperature and ambient pressure. Such a finding would be groundbreaking, but experts were skeptical about the research. WSJ explains why investors are closely watching this discovery space. Illustration: Yiyang CaoA physicist whose burgeoning career has been rocked by accusations of plagiarism and professional misconduct has now had his biggest discovery invalidated by the journal that published the research. In March, Ranga Dias and his team made the electrifying claim that they had identified a room-temperature superconductor—a discovery that, if true, would have been a step toward revolutionizing energy grids, battery technology, computer processors and a host of other electrical systems by making them work more efficiently.
Persons: Cao, Ranga Dias
The 2023 Earthshot Prize winners:This year’s winners were chosen from a shortlist of 15 finalists by Prince William and the Earthshot Prize Council, chaired by Christiana Figueres, a former UN climate chief, who played a key role in negotiating the Paris Climate Agreement in 2015. The Prince of Wales speaks with the winners of the 2023 Earthshot Prize following the awards ceremony on Tuesday night. Irwin added that the Earthshot Prize offers “hope,” which “is something we all need to hang on to.”The Singapore skyline was lit up in green to celebrate the Earthshot Prize on Monday. Mohd Rasfan/AFP/Getty ImagesFigueres, who is also an Earthshot Prize trustee, told CNN that it was “such a joy” to work with the Prince of Wales. The prince said he was “thrilled” to be in Singapore for the third Earthshot Prize ceremony and outlined his vision for supporting this year’s shortlist of finalists.
Persons: Wales, Prince William, , ” William, Christiana Figueres, Rania Al Abdullah of Jordan, Ernest Gibson, Jack Ma, Prince, Chris Jackson, Nidhi Pant, Emily Owen, , Ted Lasso ”, Hannah Waddingham, Sterling K, Brown, Cate Blanchett, Nomzamo, Robert Irwin, OneRepublic, Irwin, , Hunter, Steve Irwin, Mohd Rasfan, Prince of Wales, William, we’ve, Tharman Shanmugaratnam, Lee Hsien Loong, Catherine, Princess, Prince George Organizations: CNN’s Royal, Singapore CNN, Earthshot, Theatre, MediaCorp, Royal Foundation, WildAid, Technologies, S4S Technologies, CNN, , Voices, Getty, Figueres, BBC, PBS, Singapore, Jewel, HSBC Locations: Singapore, India, UN, Paris, Peru, South America, Hong Kong, South African, , AFP, Gardens, Kallang
Expensify is shutting down its upscale employee lounge in San Francisco. The move comes six months after the space was launched as a return-to-office "experiment," per CEO David Barrett. The expense-tracking company described the space as a high-end airport lounge meets co-working space. Access was built into an existing Expensify membership that started at $9 per month, the company said in April. But the party's coming to an end: The Expensify Lounge will be shutting down on November 1, David Barrett, the company's CEO, announced in a 1,700-word blog post published Wednesday.
Persons: David Barrett, Barrett, , Expensify, Jamie Dimon — aren't, Dimon Organizations: Service Locations: San Francisco, Portland , Oregon
Teens and young adults are over romance and sex in TV shows and movies, per a new survey. 51.5% of those surveyed want to see more "nomance," or content based on friendships and platonic relationships. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementTeens and young adults are over romance and sex in TV shows and movies — what they really want to see on screen is a lot more "nomance." And younger people are also having less sex than their parents did at their age, per UCLA's California health interview survey.
Persons: , Zalpha, there's, Stephanie Rivas, Lara, Hiral Kotecha, Vivek Murthy, " Rivas, Kotecha, Z Organizations: Service, UCLA, Alpha Locations: America, California
Zuckerberg said a world full of people walking around in VR headsets is "certainly not the future that I'm hoping we get to." Instead, his goal is for the AR glasses to become a smart phone replacement. "That's certainly not the future that I'm hoping we get to," Zuckerberg told neuroscientist and podcast host Andrew Huberman during an episode of Huberman's show that aired on Monday. In the conversation, Zuckerberg said he viewed Meta's new Quest 3 VR headsets as a successor to people's desktop-based workstations. Last year, one former Meta employee told the Verge's Alex Heath that Zuckerberg's ego is intertwined with the glasses.
Persons: Mark Zuckerberg, Priscilla Chan, Andrew Huberman, Zuckerberg, , that's, That's, he's, Huberman, Meta's, hasn't, Alex Heath, Heath Organizations: Service, company's Connect, Reality Labs, Meta
REUTERS/Amr Alfiky/File photo Acquire Licensing RightsNEW DELHI, Oct 22 (Reuters) - India on Sunday said its relationship with Canada is passing through a difficult phase and there had been "continued interference" by Canadian personnel in New Delhi's internal affairs. Canada had to withdraw 41 of its diplomats from India on Thursday as New Delhi decided to unilaterally revoke their official diplomatic status. Trudeau said on Friday the Indian government's crackdown on Canadian diplomats was making normal life difficult for millions of people in both countries. Jaishankar said India had invoked diplomatic parity under the Vienna convention, "because we had concerns about continuous interference in our affairs by Canadian personnel". He said India would resume the issuance of visas if there was progress in the safety of its diplomats working there.
Persons: Jaishankar, Amr Alfiky, Justin Trudeau, Trudeau, Melanie Joly, Jaishankare, Nidhi Verma, David Holmes Organizations: Affairs, United Nations Security Council, United Nations General Assembly, REUTERS, Sunday, Canadian, Thomson Locations: U.N, New York City, U.S, DELHI, India, Canada, British Columbia, New Delhi, Vienna
Russia was the top oil supplier to India in April to September, followed by Iraq and Saudi Arabia. India's imports from Iraq and Saudi Arabia fell by 12% and about 23% to 928,000 bpd and 607,500 bpd, respectively, during the April-September period, the data showed. Imports from the Middle East in April-September declined by about 28% to 1.97 million bpd, dragging down the region's share in India's overall oil imports to 44% from 60% during the same year-ago period. India's oil imports from various regionsLower purchases from the Middle East dragged down the share of OPEC in India's overall imports to the lowest in 22 years. India's oil imports Opec's share of India's oil imports drop to record lowReporting by Nidhi Verma; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
Persons: Nidhi Verma, Miral Organizations: Saudi, Imports, Commonwealth of Independent States, CIS, Organization of, Petroleum, Thomson Locations: DELHI, India, Moscow, Ukraine, Middle, Russia, Iraq, Saudi Arabia, Azerbaijan, Kazakhstan, East, Africa
Tesla stock tumbled 9% on Thursday after the EV maker reported disappointing third-quarter earnings. The share-price decline meant Elon Musk's net worth fell by $16 billion in a single day. However, Musk remains the world's richest person with an estimated $210 billion fortune. Even so, Musk remains the richest person in the world with an estimated net worth of $210 billion. On Wednesday, Tesla reported third-quarter revenues of $23.35 billion, missing Wall Street expectations of $24.06 billion.
Persons: Elon, Musk, , Elon Musk, Bernard Arnault, Arnault, Jeff Bezos, Bezos, Tesla Organizations: Service, Bloomberg, Big Tech
Rite Aid filed for bankruptcy in New Jersey on Sunday. AdvertisementAdvertisementRite Aid filed for voluntary Chapter 11 bankruptcy in New Jersey on Sunday — a move that could see the drugstore chain close more of its 2,100 stores. Rite Aid has received a commitment for $3.45 billion in new financing from some of its lenders. AdvertisementAdvertisementIn March, the US Justice Department sued Rite Aid, accusing the company of missing "red flags" when pharmacists filled opioid prescriptions. A company spokesperson told the Wall Street Journal: "We expect to negotiate a resolution of the opioid-related lawsuits with the various parties involved."
Persons: , Jeffrey S, Stein, Elizabeth Burr Organizations: Service, Aid, US Justice Department, Rite Aid, Wall Street Locations: New Jersey
Rite Aid filed for voluntary Chapter 11 bankruptcy on Sunday following slumping sales and a series of lawsuits. Rite Aid, which has over 47,000 employees, has struggled in recent years to compete against larger peers like CVS and Walgreens Boots Alliance, as well as Amazon. Rite Aid has faced growing competition from direct-to-consumer pharmacy startups as well as medication deliveries from the likes of Amazon and Uber. Rite Aid also experienced supply chain challenges after changing supplier for many of its perishable consumer goods and shrink "continued to be a significant headwind," Burr said. Representatives for Rite Aid did not immediately respond for Insider's request for further comment beyond sending statements about Stein's appointment and its Chapter 11 bankruptcy filing.
Persons: it's, , Jeffrey S, Stein, Elizabeth Burr, Heyward Donigan, Donigan, Burr, there'd Organizations: Service, Rite, Walgreens Boots Alliance, Rite Aid, pharma, Aid, Discount, Rite Aid Corporation, PayLess, Walgreens, Albertsons, New York Times Locations: New Jersey, Scranton , Pennsylvania
Reuters reported in July that Indian refiners began using yuan to pay for some oil from Russian sellers, while continuing to use dollars and dirhams to settle most of their Russian oil purchases. Indian refiners buy most of their Russian oil from traders, while making some direct purchases from Russian entities. State-run Indian Oil Corp (IOC.NS), the country's top refiner, has used yuan and other currencies to pay for Russian oil, Reuters reported previously. Private Indian refiners have continued to pay in yuan and other currencies for Russian oil imports, sources said, with most Indian purchases of Russian oil paid in dirham. Indian Oil, BPCL and HPCL and the country's oil and finance ministries did not immediately respond to Reuters' requests for comments.
Persons: Tatiana Meel, Nidhi Verma, Tony Munroe, Simon Cameron, Moore Organizations: REUTERS, European Union, Reuters, Gazprom Neft, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, DELHI, India, Moscow, Ukraine, United States, dirhams, Gazprom, dirham, Hong Kong, China
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Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/health/healthcare/alzheimers-researcher-found-to-have-committed-misconduct-49d6428d
Persons: Dow Jones
Others say that direct air capture is a necessary part of a diverse effort to limit global warming. Carbon removal companies such as Climeworks create carbon credits corresponding to units of carbon dioxide captured by their plants — these credits can be purchased by companies to offset their carbon emissions. Some say investing in direct air capture technology is pointless. "If it's being used for direct air capture, it's not being used for something else. Many global climate leaders agree.
Persons: Bilha Ndirangu, watchdogs, Ugbaad Kosar, that's, Jonathan Foley, Ndirangu, Carlijn Nouwen, Nouwen, Olúfẹ́mi, Táíwò, That's, Mark Jacobson, it's, Julie Gosalvez, Climeworks, Gosalvez Organizations: Deutsches Museum, United Nations, Africa Climate Summit, Georgetown University, Stanford University Locations: Munich, Kenya, Swiss, Climeworks, Carbon, Africa, Nairobi, Saharan Africa, Tanzania, Ethiopia
India, the world's third biggest oil importer and consumer, also raised imports from Iraq while taking less Saudi oil, the data showed. India imported about 1.55 million barrels per day (bpd) of Russian oil in September, 16% more than in August, while imports from Iraq increased by 17% to about 1.1 million bpd, LSEG data showed. Vortexa pegged imports of Russian oil at 1.52 million bpd, compared with 1.44 million bpd in August. India's Saudi Oil Imports surged in Aug, Russia fell to 7-mth lowAccording to Kpler data, India's imports of Russian crude jumped back to 1.8 million bpd in September from less than 1.5 million bpd in August. They mostly purchase Russian oil on the spot market, while largely relying on term contracts for Middle Eastern crude.
Persons: Viktor Katona, Kpler's Katona, Nidhi Verma, Mohi Narayan, Arpan Varghese, Simon Cameron, Moore Organizations: Saudi Oil Imports, Thomson Locations: DELHI, Russia, LSEG, India, Iraq, Kpler, Saudi Arabia, Ukraine
India, which is the world's third biggest oil importer, has become the top buyer of seaborne Russian oil, mainly Urals, since 2022 after Western sanctions against Moscow. Alternatives are much more expensive and not easily available," a trader familiar with the Russian oil market said. Russian Urals oil typically gives higher yields of diesel, which accounts for about two-fifths of India's overall refined fuel consumption. The Western price cap on Russian oil allows buyers to use Western services such as shipping and insurance in the event that crude trades below $60 per barrel. Russian oil is also now being sold to customers in new markets like Brazil, the Indian source said.
Persons: Tatiana Meel, Brent, HPCL Mittal, Nidhi Verma, Alexander Smith, Elaine Hardcastle Organizations: REUTERS, Moscow, Board, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, Reliance Industries Ltd, Nayara Energy, Reuters, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, Ukraine MOSCOW, DELHI, India, Moscow, Saudi Arabia, Baltic, Mangalore, Russian, Turkey, China, Bulgaria, Brazil, New Delhi
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