Oil Price The Trans Mountain expansion project may be in for yet another delay as the company in charge of it reported encountering “technical issues” during construction. In a statement, the company said that the issues “will result in additional time to determine the safest and most prudent actions for minimizing further delay.” The expanded pipeline was scheduled to begin operation
Oil Price The Canada Energy Regulator is hearing arguments on Friday from Trans Mountain Corporation on why it should allow a change in the route and diameter of a small section of the pipeline. The company has warned that without that change it could face a worst-case scenario of a delay of two years in the completion of the pipeline. The expanded
Nasdaq Canadian oil producers are bracing for further potential delays to the Trans Mountain pipeline expansion (TMX) that could cost them millions of dollars in lost revenues in coming months after they ramped up production ready to fill the expanded line, meant to unlock access to Asia. However, the project, about 95% completed, has been beset by construction issues in
Oil Price Kinder Morgan will buy the natural gas pipeline portfolio of NextEra Energy Partners in Texas, paying $1.82 billion for the assets. The pipeline network has a throughput capacity of 4.9 billion cu ft daily, Kinder Morgan said in a news release about the deal. The company added that the pipeline assets were “highly contracted”, with the average length of contract at
Nasdaq LONDON – Energy giants offered a rare glimpse into their liquefied natural gas (LNG) trading strategies in recent days, with Shell’s and TotalEnergies’ bets on rising Asian demand paying off while BP’s bet on a European deficit turned sour. The contrasting outcomes highlight the risky nature of trading divisions, at times notching up spectacular profits as traders quickly exploit
CNBC Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas. Oil slips as investors watch diplomatic moves in Gaza war Brent crude futures fell 63 cents, or 0.7%, to $91.53 a barrel, as of 9:41 a.m.
Investing HOUSTON -Oil futures fell on Monday on a report the U.S. and Venezuela could soon reach a deal to ease sanctions on Venezuela if a presidential election date is set, while traders see the Israel-Hamas conflict not affecting crude supplies in the short term. Brent futures were down 59 cents, or 0.67%, at $90.27 a barrel at 10:30 CDT (1532
Nasdaq Canada faces an uphill battle to recoup the roughly C$35 billion ($25.74 billion) in taxpayers’ money it has sunk into the Trans Mountain oil pipeline, as uncertainty over shipping tolls and a limited pool of buyers cloud the asset’s unique strategic value. The federal government plans to sell Trans Mountain once a long-delayed expansion to nearly triple the flow
Oil Price Tellurian has applied for a three-year construction permit extension with the Federal Energy Regulatory Authority to complete the construction of the Driftwood LNG facility. The Driftwood LNG plant, currently under construction, would be one of the biggest in the world, with a capacity of up to 27.6 million tons of liquefied natural gas annually. The price tag of the project is
Oil Price Energy Transfer LP shuttered its Centurion Pipeline on Monday after it was struck by a road worker, the pipeline company said in an email to Bloomberg. Energy Transfer LP acquired the pipeline earlier this year when it acquired the previous owner, Lotus Midstream for $1.4 billion. The Centurion Pipeline runs from New Mexico, ending in Cushing, Oklahoma, with laterals that extend
BOE Report The Canada Energy Regulator (CER) approved a route change request for the Trans Mountain oil pipeline expansion on Monday, clearing a major hurdle and avoiding months of delay for the Canadian government-owned project. Trans Mountain Corp (TMC), the federal government corporation that is building the expansion, had sought a route deviation on a 1.3-kilometre (0.8 mile) section of
Nasdaq CALGARY – Canada’s Trans Mountain oil pipeline expansion (TMX), which will nearly triple the flow of crude from Alberta to Canada’s Pacific Coast beginning early next year, will shake up North America’s supply by diverting barrels now mainly delivered to refiners and exporters in the U.S. Midwest and Gulf Coast. Its startup could add as much as $2 per
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