Force Majeure
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- News
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Oil Prices Climb Towards $80 On Tight Supply, Stocks Fall
Oil prices have been underpinned by Ecuador, Libya and Nigeria declaring forces majeures this month on part of their oil production because of maintenance issues and oilfield shutdowns.
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Adani Group To Take Over Airports Of Jaipur, Guwahati And Thiruvananthapuram In 3 Months
Centre informed Parliament that Adani Group has been given three-months extension to take over airports of Jaipur, Guwahati and Thiruvananthapuram.
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ONGC Videsh Puts Mozambique LNG Project On Hold
ONGC Videsh consortium has put its liquified natural gas (LNG) project in Mozambique on hold due to force majeure.
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"This Condescension": Nirmala Sitharaman To "Act Of God" Remark Critics
Taking on critics, Nirmala Sitharaman on Friday said a "simple woman finance minister saying Act of God is taken sarcastically" while latin word "force majeure" is well accepted.
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Alibaba's UCWeb Lays Off India Staff, Club Factory Halts Payments Following Chinese App Ban
Alibaba subsidiary UCWeb decided to lay off staff in India, as it stopped services following Indian government’s order to ban Chinese apps. On the other hand, China-based e-commerce app Club Factory announced that it is putting all settlements with sellers on the app and website on hold as it invokes a "force majeure" clause, freeing it from cont...
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India's Oil Imports In May Sink To Lowest In Over 8 Years: Report
Indian refiners in April filled tanks with cheaper oil, sold extra cargoes to the federal government for strategic reserves and declared force majeure on crude imports.
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Oil Marketing Firm Eighty-Eight Oil Declares Force Majeure
U.S. crude marketing company Eighty-Eight Oil LLC has declared force majeure after oil producers across the Rockies and North Dakota shut production as the coronavirus eroded demand and sent prices plunging, four sources familiar with the matter said. The company declared force majeure after producers selling oil to them shut production, causing Ei...
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Delhi High Court's Parameters On Dealing With Rent Payment Suspension Due To COVID-19
In a significant decision, the Delhi High Court has laid down broad parameters for dealing with the issue of suspension of payment of rent by tenants owing to ''force majeure'' conditions like the COVID-19 lockdown crisis.
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India To Continue Prompt Fuel Exports For At Least Two More Weeks
Indian refiners are likely to continue prompt export of refined fuels for at least another two weeks to avoid a complete shutdown after the coronavirus lockdown hit local demand, company officials said.
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Coronavirus Lockdown: Hero MotoCorp Invokes Force Majeure; Suspends Payments To Suppliers
Hero MotoCorp invoked the 'Force Majeure' Clause last week and has decided to stop payment to its vendors/suppliers.
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Coronavirus Lockdown: Royal Enfield Invokes Force Majeure On Case To Case Basis
Royal Enfield has invoked the 'Force Majeure' clause and is proceeding forward with payments on a case to case basis with its vendors, amidst the Coronavirus pandemic which has thrown the economy into disarray.
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Some Ports Declare Force Majeure, Could Delay Oil Discharges: Report
The force majeure declaration could delay discharge of crude oil tankers, an Indian refining source told Reuters.
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Cancelling MWC 2020 'Was Only Option', Says Organiser GSMA
Cancelling MWC 2020 - the world's top mobile trade fair - was the "only option" in the face of "force majeure" after coronavirus fears prompted dozens of companies to bolt the upcoming show, organisers said Thursday.
-
Oil Up 4%; Gasoline Adds Fuel to Rally on Libya, Brazil
Crude prices settled up about 4 per cent on Tuesday as a rally in US gasoline and diesel amid an outage on a key pipeline system added support to oil markets already boosted by an industry strike in Brazil and force majeure for Libyan crude loading.
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India Has Potential to Achieve 100 GW Solar Target: Bosch
India has the potential to achieve government's ambitious plan to increase its solar power capacity target five-fold to 100 GW by 2022, a top executive of Bosch Ltd has said.
-
Oil Prices Climb Towards $80 On Tight Supply, Stocks Fall
Oil prices have been underpinned by Ecuador, Libya and Nigeria declaring forces majeures this month on part of their oil production because of maintenance issues and oilfield shutdowns.
-
Adani Group To Take Over Airports Of Jaipur, Guwahati And Thiruvananthapuram In 3 Months
Centre informed Parliament that Adani Group has been given three-months extension to take over airports of Jaipur, Guwahati and Thiruvananthapuram.
-
ONGC Videsh Puts Mozambique LNG Project On Hold
ONGC Videsh consortium has put its liquified natural gas (LNG) project in Mozambique on hold due to force majeure.
-
"This Condescension": Nirmala Sitharaman To "Act Of God" Remark Critics
Taking on critics, Nirmala Sitharaman on Friday said a "simple woman finance minister saying Act of God is taken sarcastically" while latin word "force majeure" is well accepted.
-
Alibaba's UCWeb Lays Off India Staff, Club Factory Halts Payments Following Chinese App Ban
Alibaba subsidiary UCWeb decided to lay off staff in India, as it stopped services following Indian government’s order to ban Chinese apps. On the other hand, China-based e-commerce app Club Factory announced that it is putting all settlements with sellers on the app and website on hold as it invokes a "force majeure" clause, freeing it from cont...
-
India's Oil Imports In May Sink To Lowest In Over 8 Years: Report
Indian refiners in April filled tanks with cheaper oil, sold extra cargoes to the federal government for strategic reserves and declared force majeure on crude imports.
-
Oil Marketing Firm Eighty-Eight Oil Declares Force Majeure
U.S. crude marketing company Eighty-Eight Oil LLC has declared force majeure after oil producers across the Rockies and North Dakota shut production as the coronavirus eroded demand and sent prices plunging, four sources familiar with the matter said. The company declared force majeure after producers selling oil to them shut production, causing Ei...
-
Delhi High Court's Parameters On Dealing With Rent Payment Suspension Due To COVID-19
In a significant decision, the Delhi High Court has laid down broad parameters for dealing with the issue of suspension of payment of rent by tenants owing to ''force majeure'' conditions like the COVID-19 lockdown crisis.
-
India To Continue Prompt Fuel Exports For At Least Two More Weeks
Indian refiners are likely to continue prompt export of refined fuels for at least another two weeks to avoid a complete shutdown after the coronavirus lockdown hit local demand, company officials said.
-
Coronavirus Lockdown: Hero MotoCorp Invokes Force Majeure; Suspends Payments To Suppliers
Hero MotoCorp invoked the 'Force Majeure' Clause last week and has decided to stop payment to its vendors/suppliers.
-
Coronavirus Lockdown: Royal Enfield Invokes Force Majeure On Case To Case Basis
Royal Enfield has invoked the 'Force Majeure' clause and is proceeding forward with payments on a case to case basis with its vendors, amidst the Coronavirus pandemic which has thrown the economy into disarray.
-
Some Ports Declare Force Majeure, Could Delay Oil Discharges: Report
The force majeure declaration could delay discharge of crude oil tankers, an Indian refining source told Reuters.
-
Cancelling MWC 2020 'Was Only Option', Says Organiser GSMA
Cancelling MWC 2020 - the world's top mobile trade fair - was the "only option" in the face of "force majeure" after coronavirus fears prompted dozens of companies to bolt the upcoming show, organisers said Thursday.
-
Oil Up 4%; Gasoline Adds Fuel to Rally on Libya, Brazil
Crude prices settled up about 4 per cent on Tuesday as a rally in US gasoline and diesel amid an outage on a key pipeline system added support to oil markets already boosted by an industry strike in Brazil and force majeure for Libyan crude loading.
-
India Has Potential to Achieve 100 GW Solar Target: Bosch
India has the potential to achieve government's ambitious plan to increase its solar power capacity target five-fold to 100 GW by 2022, a top executive of Bosch Ltd has said.
