Wildfires erupt in Canada crude patch in threat to oil sands
One 7-acre fire is within about 6 miles of MEG Energy Corp.’s Christina Lake site, which produced almost 100,000 barrels a day in May.
Indian miner Vedanta Ltd reported a net loss of 125.2 billion rupees ($1.7 billion) for the fourth quarter of its financial year, compared with a profit of 26.15 billion rupees in the same period a year earlier.
The company took a one-time loss of 171.3 billion rupees in the March quarter, mainly due to an impairment of assets at its Oil & Gas business, triggered largely by a fall in crude oil prices following the coronavirus outbreak.
Revenue from operations came in at 195.13 billion rupees, compared with 230.9 billion rupees a year earlier, the company said in a statement.
(By Rajendra Jadhav; Editing by Mark Potter)
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