yum update
Loaded plugins: fastestmirror
Setting up Install Process
Determining fastest mirrors
YumRepo Error: All mirror URLs are not using ftp, http[s] or file.
Eg. Invalid release/repo/arch combination/
removing mirrorlist with no valid mirrors: /var/cache/yum/x86_64/6/base/mirrorlist.txt
Error: Cannot find a valid baseurl for repo: base
You have mail in /var/spool/mail/root
........
#solution
Edit /etc/yum.repos.d/openvz.repo
For the first two entries comment out #mirrorlist and uncomment #baseurl and then it worked
openvz yum problem Centos 6.5 cannot find file on mirror:
yum update
Loaded plugins: fastestmirror
Determining fastest mirrors
* openvz-kernel-rhel6: mirrors.ustc.edu.cn
* openvz-utils: mirrors.ustc.edu.cn
base ........