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TC Energy has submitted restart plan for Keystone pipeline to U.S. regulator- source

December 20, 2022

BOE Report TC Energy Corp has submitted a restart plan for its Keystone pipeline to U.S. safety regulator Pipeline and Hazardous Materials Safety Administration (PHMSA) which is being reviewed, according to a source on Tuesday. The 622,000 barrels per day (bpd) pipeline was shut after it spilled 14,000 barrels of oil in rural Kansas, including into a creek. Bitumen tends to

Keystone oil spill cleanup expected to last weeks

December 14, 2022

Energy Now Cleanup of the biggest U.S. oil spill in nearly a decade will take at least weeks more, local officials in Kansas said on Tuesday, citing a recent meeting with Keystone pipeline owner TC Energy Corp (TRP.TO). There is still no official timeline for a restart of the key Canada-U.S. pipeline, which was closed after the spill of roughly

Oil climbs as shut pipeline in U.S. adds to supply uncertainty

December 13, 2022

BOE Report Oil extended gains on Tuesday as a key pipeline bringing the resource to the United States remained shut, adding to concerns about potential tight supply in the world’s biggest crude consumer. U.S. West Texas Intermediate (WTI) crude futures gained $1.40, or 1.90%, to $74.65. Brent crude futures rose $1.59, or 2.04%, to $79.65 per barrel. Both benchmarks

Keystone Pipeline oil leak has now been contained

December 12, 2022

Oil Price Canadian pipeline operator TC Energy said it had contained the leak from the Keystone pipeline that occurred in the middle of last week, spilling 14,000 barrels of crude into a creek. The leakage was contained in Kansas, NBC News reported, citing the company, which had to shut down the pipeline while it worked on fixing the leaky section.

Oil rises on uncertainty over U.S. pipeline restart, Russian supplies

December 12, 2022

Nasdaq SINGAPORE – Oil prices rose more than 1% on Monday as a key pipeline supplying the United States stayed shut while Russian President Vladimir Putin threatened to cut production in retaliation for a Western price cap on its exports. Brent crude futures LCOc1were up 30 cents, or 0.4%, to $76.40 a barrel by 0300 GMT. U.S. West Texas Intermediate crude CLc1 was at $71.53 a barrel, up

Keystone oil pipeline shut down after leak in Nebraska

December 8, 2022

Oil Price TC Energy, the operator of the Keystone Pipeline, said on Thursday that it had shut down the oil pipeline and is responding to a release of oil into a creek near Steele City, Nebraska. “We have shut down the Keystone Pipeline System and mobilized people and equipment in response to a confirmed release of oil into a creek, approximately

‘No sacred cows’ as TC Energy prepares for C$5 bln asset sales

December 2, 2022

US News WINNIPEG, Manitoba – As TC Energy Corp prepares to unload C$5 billion ($3.7 billion) in assets next year, investors and analysts say the North American pipeline operator has plenty of options without touching its core gas business. Chief Executive Francois Poirier cleared up any ambiguities this week when asked how much of TC’s portfolio is in the shop

Biden administration quietly approves huge Texas oil export project

November 28, 2022

World Oil The Biden administration has approved plans to build the nation’s largest oil export terminal off the Gulf Coast of Texas, which would add 2 million barrels per day to the U.S. oil export capacity, The Texas Tribune and Earthworks reported. The approval by the Department of Transportation’s Maritime Administration was filed in the federal register on Monday without any public announcement,

Heavy crude discount narrows despite Keystone curtailment

November 16, 2022

BOE Report Western Canada Select (WCS) crude’s discount to the benchmark West Texas Intermediate (WTI) narrowed slightly on Tuesday. WCS heavy blend crude for December delivery in Hardisty, Alberta, settled at $28.60 barrel under WTI, according to NE2 Inc, narrowing around 25 cents from the previous session. TC Energy said its 622,000 barrel-per-day Keystone oil pipeline will curtail volumes due

Alaska’s pricey crude pushed out of China by Russian oil

November 10, 2022

World Oil (Bloomberg) – China’s passion for Alaskan oil appears to be over as the country turns to Russia. Surging Chinese energy demand amid Covid lockdowns on the US West Coast prompted Alaskan oil exporters to ship more crude than any time in two-decades, and nearly all of it went to the East Asian country. So far this

KeystoneXL Pipeline could’ve weakened OPEC’s bargaining position

November 3, 2022

Oil Price The U.S. is rapidly depleting our Strategic Petroleum Reserve (SPR) and is now begging Saudi Arabia and OPEC not to cut oil production. This is a result of the unintended — but predictable — consequences of U.S. energy policy that is often hostile to our domestic energy companies. Our energy policy is often undermined by well-meaning but

Why the U.S.’ largest shale gas basin misses out on the LNG boom

October 17, 2022

Oil Price Regulatory hurdles are stymieing growth in natural gas production in the Marcellus-Utica basin, the largest U.S. gas-producing region, which is set to miss out on the expected boom in American liquefied natural gas (LNG) exports in the coming years. Not only is Marcellus-Utica missing the opportunity to export and monetize natural gas in a world scrambling for LNG

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