(Oil Price) – Canada’s pipeline giant Enbridge Inc. expects its core profit to be higher in 2025 compared to 2024 levels, thanks to the expected strong utilization of its assets and the contribution of recently acquired U.S. natural gas assets. Enbridge on Tuesday announced its first guidance for the core profit – or adjusted earnings before interest, income taxes, and depreciation (EBITDA) –
(Oil & Gas 360) – HOUSTON, Oct. 3, 2024 /PRNewswire/ – Enbridge Inc. (Enbridge) (TSX: ENB) (NYSE: ENB) announced today that it will build, own, and operate crude oil and natural gas pipelines in the U.S. Gulf of Mexico for the recently sanctioned Kaskida development, operated by BP Exploration & Production Company (“bp”). The crude oil pipeline, named the Canyon Oil Pipeline System
(Oil & Gas 360) – HOUSTON, Oct. 3, 2024 /PRNewswire/ — Shell Pipeline Company LP (“Shell”) today announced the Final Investment Decision (FID) for the Rome Pipeline, an offshore pipeline construction project increasing access between Shell’s Green Canyon Block 19 (“GC-19”) pipeline hub platform and the Fourchon Junction facility on the Louisiana Gulf Coast. The pipeline will bring additional capacity to Shell’s
BOE Report The Trans Mountain oil pipeline expansion (TMX) was meant to shrink the discount on Canadian oil versus U.S. crude but three months in the differential is wider than when commercial operations on the project started. Many analysts had forecast the differential on Western Canada Select (WCS) versus U.S. crude would gradually narrow to single digits thanks to the
Oil Price Canadian crude exported from the U.S. Gulf Coast in June clocked in at 1500,000 barrels per day, only slightly lower than average despite the commissioning of the expanded 590,000 b/d Trans Mountain pipeline (TMX) in May. TMX has the potential to cut shipments from the U.S. Gulf Coast to India, China, and South Korea if more oil from Canada’s West
Oil Price China, Japan and South Korea are set to receive cargoes of oil imports from Canada’s newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May. The expanded TMX pipeline will triple the flow of crude from landlocked Alberta to Canada’s Pacific coast to 890,000 barrels per day
BOE Report About 20 ships loaded crude oil on Canada’s West Coast in the first full month of operation on the newly expanded Trans Mountain pipeline, according to vessel-tracking data on Sunday, slightly below the operator’s forecast. Loadings from the pipeline expansion are closely watched because the Canadian government wants to sell the $24.84 billion (C$34 billion) line. Questions about
Oil Price The expanded Trans Mountain oil pipeline will rely on spot customers to see a positive equity return or return on capital in 2026, according to company filings with Canadian regulators reviewed by Reuters. The expanded Trans Mountain pipeline is tripling the capacity of the original pipeline to 890,000 barrels per day (bpd) from 300,000 bpd to carry crude from
Reuters Mountain Valley can begin operating its $7.85 billion Virginia natural gas pipeline after receiving approval from the U.S. Federal Energy Regulatory Commission (FERC) according to a filing on Tuesday. The Mountain Valley project, the only big gas pipeline under construction in the U.S. Northeast, has encountered numerous regulatory and court fights that have stopped work several times since construction
Oil Price In a landmark move for the Canadian financial markets, Coastal GasLink LP, partially owned by KKR & Co., is set to initiate the largest corporate bond deal in Canada’s history. The pipeline project, located in Western Canada, is preparing to issue up to C$4 billion ($2.9 billion) in bonds to refinance its existing construction debt. This unprecedented offering
Yahoo Finance WINNIPEG, Manitoba – TC Energy’s planned oil pipeline spin-off is a bet that it can supply more Canadian crude to U.S. Gulf of Mexico refiners, but the venture faces stiff competition and will carry high debt when it starts up. The South Bow spin-off, which TC investors will vote on June 4, will help Calgary, Alberta-based TC lower
Oil Price Oil companies planning to ship crude on the expanded Trans Mountain pipeline in Canada are concerned that the project may not begin full service on May 1 but they would be nevertheless obligated to pay tolls from that date. In a letter to the Canada Energy Regulator (CER), Suncor Energy and other shippers including BP and Marathon Petroleum
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