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US Colonial Pipeline restarts after cyber attack

May 14/2021

MOSCOW (MRC) -- Colonial Pipeline restarted operations Wednesday at approximately 5 p.m. ET after a ransomware attack last week forced the entire system offline on Friday evening, reported CNBC.

The company did warn, however, that its pipeline would not be fully functional immediately.

Following this restart it will take several days for the product delivery supply chain to return to normal, Colonial said in a statement. Some markets served by Colonial Pipeline may experience, or continue to experience, intermittent service interruptions during the start-up period. Colonial will move as much gasoline, diesel, and jet fuel as is safely possible and will continue to do so until markets return to normal, the company added.

As MRC informed earlier, most of the pipeline, which is the largest fuel transmission line from the Gulf Coast to the Northeast, has been offline since Friday. The company shut down its systems as a proactive measure after it fell victim to a ransomware attack by a criminal group known as DarkSide.

The pipeline is a critical part of US petroleum infrastructure, transporting around 2.5 million barrels per day of gasoline, diesel fuel, heating oil and jet fuel. The pipeline stretches 5,500 miles and carries nearly half of the East Coasts fuel supply. The system also provides jet fuel for airports, including in Atlanta and Baltimore.

We remind that Valero Energy chartered an oil products' tanker for storage in the US Gulf Coast on Friday amid a cyber attack that shut the Colonial pipeline, the biggest US fuel pipeline.

Besides, earlier this week, Marathon Petroleum, the largest US refiner, said it could meet its supply commitments but was working to find alternative ways to ship motor fuels to the eastern United States if the Colonial Pipeline shutdown is extended.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, PP block copolymer, homopolymer PP, propylene, LDPE, HDPE, ethylene, petrochemistry, Marathon, Valero, Russia, USA.
Category:General News
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