Keystone Pipeline Still Closed, ND Leak Source Unclear
The precise source of a leak on TC Energy Corp's Keystone oil pipeline in North Dakota has not yet been identified, a spokesman for the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said on Monday.There is no estimated timeline for restart of the pipeline and the company is continuing excavation work to isolate the affected part of the pipeline, the spokesman said by phone.Clean-up crews in Walsh County, North Dakota, have been working to plug the Keystone pipeline after a more-than 9,000-barrel oil leak last week.Work continues to progress at the site with about 200 personnel focused on clean-up and remediation activities…
TC Energy: North Dakota Spill Shutters Keystone pipeline
Oct 30 (Reuters) - TC Energy Corp said on Wednesday it is shutting its Keystone crude pipeline after a late Tuesday oil spill in North Dakota.The company said it detected a drop in pressure on Tuesday night on its 590,000-barrel-per-day (bpd) Keystone oil pipeline system from Canada, it said in a statement, without specifying the exact impact on operations."TC Energy immediately began the process to shut down the pipeline, activated its emergency response procedures and dispatched ground technicians to assess the situation," the company said.It was not clear how much crude oil was spilled, according to Brent Nelson, Walsh County Emergency Manager.
TC Energy: Order Blocking Keystone XL Pipeline Lifted
TC Energy Corp's long-delayed Keystone XL oil pipeline took a small step forward this week, after a U.S. court overturned an injunction that barred certain work on the project, the company said.The company, which also reported a better-than-expected quarterly profit on Thursday, has been working for more than a decade to build the controversy-ridden 830,000 barrel per day (bpd) pipeline.KXL would run from an oil hub at Hardisty, Alberta, to Steele City, Nebraska, where it would join TC Energy's existing Keystone pipeline system.TC Energy, formerly TransCanada Corp…
TransCanada Restarts Portion of Keystone Pipeline
TransCanada Corp restarted a section of the Keystone oil pipeline on Tuesday, following a leak in Missouri earlier this month, company spokesman Terry Cunha said.TransCanada had shut an arm of Keystone from Steele City, Nebraska to Patoka, Illinois on Feb. 6 after a 43-barrel leak. The shut-down restricted the flow of Western Canadian crude to U.S. refineries.Reporting by Rod Nickel
Part of Keystone Pipeline Still Shut After Missouri Leak -TransCanada
TransCanada Corp said on Monday a part of its Keystone crude pipeline from Steele City, Nebraska, to Patoka, Illinois, remained shut after a leak was discovered in the St. Louis, Missouri, area last week.The cause and source of the spill have not been determined and there is no estimated timeline for a restart, TransCanada spokesman Terry Cunha said in an email.The 590,000 barrels-per-day Keystone pipeline system is a critical artery taking Canadian crude from northern Alberta to U.S. refineries.TransCanada told Keystone shippers last week that it was declaring force majeure on shipments affected by the shutdown, according to a notice seen by Reuters.
Canada-US Pipelines Restart After Weather Disruptions
Two major pipelines carrying oil from Canada to the United States resumed operations on Wednesday after brief disruptions due to power outages from severe weather in Saskatchewan, Canada, a day earlier.A number of lines on Enbridge Inc's Mainline system, which carries about 1.2 million barrels per day of crude and other liquids, and TransCanada Corp's 590,000 bpd Keystone crude pipeline were hit by power outages on Tuesday in the western Canadian province.TransCanada's Keystone pipeline was operational on Wednesday after it experienced a brief outage due to power disruptions…
TransCanada sees 'Robust' Shipper Interest in Keystone XL
Pipeline operator TransCanada Corp is seeing strong interest from oil shippers in locking up the remaining space on Keystone XL and expects it to be fully subscribed, its chief executive said on Thursday.TransCanada has not yet made a final investment decision on its $8-billion Keystone XL (KXL) expansion, which would boost export capacity from the oil-rich province of Alberta to U.S. refineries. That decision may come late this year or in early 2019, pending some remaining regulatory approvals needed and court challenges, Chief Executive Russ Girling said.In the meantime…
US Lifts Keystone Pipeline Pressure Restrictions
Pressure restrictions on TransCanada Corp's Keystone oil pipeline was lifted on May 1 in a letter issued by U.S. pipeline safety regulators, a spokesman for the agency told Reuters on Thursday.It was not immediately clear what current rates are, said Darius Kirkwood, a spokesman for U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA).The company had shut down its 590,000 barrel-per-day Keystone pipeline, which links Alberta's oil sands to U.S. refineries, in November after a spill in South Dakota.(Reporting by Devika Krishna Kumar in New York; Editing by Lisa Shumaker)
Canada Moves Crude One Truckload at a Time
At an Alberta oil loading terminal, a convoy of big rigs are gearing up to haul Canadian crude oil hundreds of miles through bone dry fields across the U.S. border into Montana, where the oil will be transferred to pipelines and rail cars headed south and west. Trucks loaded with crude are an increasingly common sight at the border. Production has risen in the world's fifth largest producer but full pipelines and a rail car shortage have made it difficult for drillers to ship oil out of Canada. Some oil producers are feeling the pressure from customers.
Oil Falls as Stronger Dollar Eclipses U.S. Inventory Drop
Stronger dollar makes oil costlier for some buyers; API report showed lower U.S. crude inventories. Oil prices fell on Thursday, dragged lower by a firmer dollar that offset support from a surprise decline in U.S. crude inventories. Brent crude futures were down 11 cents at $65.31 per barrel by 1218 GMT, while West Texas Intermediate (WTI) futures eased 24 cents to $61.44 a barrel. The dollar rose to a one-week high against a basket of major currencies on Thursday, after minutes of the Federal Reserve's January meeting showed policymakers were more confident of the need to keep raising interest rates.
Brent Crude Eases, as Canadian Supply Drop Boosts U.S. Futures
Monday U.S. holiday pulls WTI's Friday gain into Tuesday. Brent crude oil prices eased on Tuesday, pulled down by a stronger dollar and a bout of profit-taking, while U.S. futures gained, bringing the discount between the two key futures contracts to a six-month low. Brent crude futures were down 51 cents from Monday's close at $65.16 a barrel by 1253 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 41 cents from their last close on Friday at $62.09 a barrel. Reduced supply from Canada to the United States caused by pipeline reductions were supporting WTI, traders said .
Price Rally Spells Fleeting Relief for Canadian Producers
Canadian heavy crude rallied to a two-month high relative to U.S. crude this week, offering some relief to oil producers in Alberta struggling with thin margins amid plentiful supply. The rally was likely to be short-lived, traders and analysts said, because output continues to grow without a corresponding increase in transportation capacity. Canada's crude typically trades at a discount to U.S. benchmark West Texas Intermediate (WTI) light oil, reflecting transportation costs to U.S. refineries and additional processing requirements. The discount expanded since a November leak in TransCanada Corp's Keystone pipeline, which led to a temporary shutdown and a buildup in supplies.
TransCanada to Proceed with Gas Line Expansion
TransCanada Corp, Canada's second largest pipeline operator, said on Thursday that it would go ahead with the C$2.4 billion ($1.9 billion) expansion of its NGTL natural gas system, boosting pipeline access for producers in Western Canada's gas-rich basins. The Calgary-based company also reported a strong fourth quarter profit, beating market expectations, sending its shares up 5.7 percent to C$56.71 on the Toronto Stock Exchange. TransCanada said the expansion of its Nova Gas Transmission Line (NGTL), which moves gas from Alberta and British Columbia to markets all over North America, will boost basin export capacity by one billion cubic feet per day (bcfd).
TransCanada Q4 Profit Beats Street
Keystone pipeline operator TransCanada Corp's fourth-quarter profit beat market expectations on Thursday, helped by lower costs and an expansion of its gas lines. On an adjusted basis, the Calgary-based company earned 82 Canadian cents, beating the average analyst estimate of 77 Canadian cents, according to Thomson Reuters I/B/E/S. Keystone's profitability was boosted, among others reasons, by the expansion of its NGTL gas pipeline, Chief Executive Officer Russ Girling said in a statement. The company plans to invest C$2.4 billion ($1.9 billion) to further expand the pipeline, which moves gas from Alberta and British Columbia to markets all over North America.
U.S. Crude Stocks Rise Despite Cushing Drawdown
U.S. crude stocks rose less than expected last week, but the storage hub of Cushing, Oklahoma, saw yet another drawdown that has halved stocks in the last three months, a trend that may continue until more refiners shut for maintenance. Crude inventories rose by 1.8 million barrels in the week to Feb. 9, short of analysts' expectations for an increase of 2.8 million barrels, the Energy Information Administration said on Wednesday. However, the most notable action took place in Cushing, where stocks fell by 3.6 million barrels, EIA said. The combination of a new pipeline running from the hub to Memphis…
PHMSA Orders Further Keystone Analysis, Studies
A U.S. regulator's preliminary investigation into the biggest oil pipeline spill this year has raised a red flag that could trigger an extensive and costly inspection of tens of thousands of miles of underground energy lines. The 5,000-barrel leak on TransCanada Corp's Keystone pipeline on Nov. 16 in South Dakota might have stemmed from damage caused by a weight put in place when it was built in 2008, the Pipeline and Hazardous Materials Safety Administration said in a report published on Tuesday. Weights are used to prevent pipelines from moving and reduce the risk of damage or ruptures when water tables rise.
U.S. Crude Stocks Fall - EIA
U.S. crude oil stocks fell last week, led by the biggest fall in inventories at the Cushing, Oklahoma storage hub in eight years, while gasoline and distillate stockpiles rose, the Energy Information Administration said on Wednesday. Crude inventories fell 3.4 million barrels in the week to Nov. 24, compared with analysts' expectations in a Reuters poll for a decrease of 2.3 million barrels. Most of the drop can be attributed to a fall in stocks at the Cushing, Oklahoma, delivery hub, which was down by 2.9 million barrels, EIA said. This was the largest weekly draw at Cushing since September 2009, and analysts attributed the decline to the shutdown of the Keystone crude pipeline on Nov.
Oil Slips on OPEC Deal Uncertainty
Oil prices slipped on Wednesday as doubts set in about Russia's willingness to substantially extend a deal among some of the world's biggest exporters to curb output to help tackle global oversupply and support prices. Brent crude futures were down 17 cents on the day at $63.44 a barrel by 1350 GMT, while U.S. light crude fell 28 cents to $57.71 a barrel. Oil ministers from the Organization of the Petroleum Exporting Countries and other producers began gathering in Vienna on Wednesday to discuss extending a deal that has so far reduced crude oil production by 1.8 million barrels per day (bpd) and helped boost oil prices by 40 percent since the middle of the year.
Oil Falls on Doubts Over OPEC, Pipeline Restart
Oil prices dipped on Tuesday, weighed down by uncertainty over the outcome of an OPEC meeting next week at which an extension to its price-supporting oil output cuts will be discussed. Brent crude oil fell 44 cents on the day to $63.40 a barrel by 1406 GMT. U.S. light crude was 26 cents lower at $57.85, after falling 1.4 percent in the last session. Members of the Organization of the Petroleum Exporting Countries and other key producers, including Russia, meet on Nov. 30 to discuss whether to continue to limit production in an effort to drain global inventories to help push up prices.
TransCanada to Restart Keystone Pipeline on Nov. 28
TransCanada Corp will restart its Keystone crude oil pipeline at reduced pressure on Tuesday after getting approval from U.S. regulators, the company said on Monday. Calgary-based TransCanada shut down the 590,000 barrel-per-day pipeline, one of Canada's main crude export routes, on Nov. 16 after 5,000 barrels of oil leaked in South Dakota. Keystone carries crude from Alberta's oil sands to U.S. refineries. The company said its repair and restart plans were reviewed by the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) and it will start operating the pipeline at reduced pressure to gradually increase the volume of crude moving through the system.
