The Koch family, led by Charles, 85, controls a 28% stake in the pipeline company. Forbes estimates their net worth at $100 billion. There is no amount of investment in cyber security that Colonial Pipeline cannot afford, and no excuses really for this kind of cyber breach, say experts.
Why is the Colonial Pipeline shut down?
Parts of the pipeline from the Gulf Coast have been shut down again, this time as a precaution as Hurricane Ida slams Louisiana. The company called the temporary shutdown of lines between Houston and Greensboro, N.C., “a precautionary and routine safety measure.”
How many employees does Colonial Pipeline have?
Employee Data
Colonial Pipeline Company has 1288 Employees.
What is Colonial Pipeline?
The Colonial Pipeline is the largest pipeline system for refined oil products in the U.S. The pipeline – consisting of two tubes – is 5,500 miles (8,850 km) long and can carry 3 million barrels of fuel per day between Texas and New York.
Did JBS pay the ransom?
JBS admitted Wednesday that it paid $11 million in ransom to a Russian criminal group to prevent critical data from being destroyed. The ransomware attack temporarily disabled all of JBS’s meat processing plants, shutting down the country’s second-largest producer of beef, poultry and fish.
Who is Joseph Blount?
Joe Blount is the President and Chief Executive Officer of Colonial Pipeline Company. He joined Colonial in October 2017 with more than three decades of experience in the energy industry.
How do pipeline companies make money?
That’s because the profits of many pipeline operators aren’t tied to the prices of oil and gas. Instead, operators make their money by charging set fees for transporting energy products from one place to another and then storing them.
Does Colonial Pipeline pay dividends?
Over the past decade, Colonial has distributed nearly all its profits, sometimes more, in the form of dividends. In 2018, for example, it paid nearly $670 million to its owners, even more than the $467 million net income. Last year, it returned to investors over 90% of its $421.6 million in profits.
What happened DarkSide?
The criminal hacking group DarkSide, which the F.B.I. has blamed for carrying out a ransomware attack that crippled fuel delivery across the Southeastern United States this week, has announced that it is shutting down because of unspecified “pressure” from the United States.
How many pipelines are in the US?
The United States maintains about 2 million miles of natural gas distribution mains and pipelines, 321,000 miles of gas transmission and gathering pipelines, 175,000 miles hazardous liquid pipeline, and 114 active liquid natural gas plants that are connected to natural gas transmission and distribution systems.
Who is the richest family in Kansas?
Kansas’ Charles Koch, one of the two Koch brothers, made his fortune building and running Koch Industries, which operates in everything from paper products to chemical manufacturing to oil pipelines.
Who is the richest person in the world?
Jeff Bezos is the founder of both Amazon, the world’s largest retailer, and Blue Origin. With an estimated net worth of $177 billion, he is the richest person in the world.
Are the Waltons the richest family in America?
The Waltons are the richest family in America—and, by some measures, the wealthiest clan in the world. At the top of the value chain, in 2020, Jim and Alice Walton are each worth $54 billion and ranked No. 8 and No. 9, respectively, on Forbes’s annual list of billionaires.
Is the pipeline still on fire?
Fire on surface of Gulf of Mexico is extinguished, but questions about pipeline leak remain. A massive fire that broke out on the surface of the Gulf of Mexico on Friday has been extinguished, but the incident is raising questions about the risks of undersea pipelines.
Did a pipeline break in the Gulf of Mexico?
A gas leak west of Mexico’s Yucatan Peninsula broke out of an underwater pipeline, causing bright flames to appear to boil up to the Gulf of Mexico’s surface and create what many described as an “eye of fire.”
Did a pipeline burst in the Gulf of Mexico?
Mexico’s state-owned oil company said Friday it suffered a rupture in an undersea gas pipeline in the Gulf of Mexico, sending flames boiling to the surface in Gulf waters. … But the accident gave rise to the strange sight of roiling balls of flame boiling up from below the surface of the Gulf of Mexico.
How much do oil pipelines make?
While ZipRecruiter is seeing annual salaries as high as $156,500 and as low as $19,000, the majority of Oil Pipeline salaries currently range between $41,000 (25th percentile) to $100,500 (75th percentile) with top earners (90th percentile) making $141,500 annually across the United States.
Are oil pipeline companies a good investment?
Investing in MLPs are low risk because they are considered slow-growing industries, like pipeline construction. They usually earn stable income with long-term contracts. … It is the business of transporting oil, natural gas, refined petroleum products and natural gas liquids primarily through pipelines.