The Canadian heavy oil differential widened against the West Texas Intermediate (WTI) benchmark on Tuesday, hitting a record-wide spread, while the light oil differential nudged up again, reaching a six-year record for the fourth trading day in a row. Western Canada Select (WCS) heavy blend crude for November delivery in Hardisty, Alberta, settled at $48 a barrel below WTI crude futures , compared with Friday's settle of $45.50, according to Shorcan Energy brokers. Monday was a market holiday [Read more]
Enbridge puts part of Ohio TEAL natgas pipe project into service
Canadian energy company Enbridge Inc said on Tuesday it put part of its Texas Eastern Appalachian Lease (TEAL) natural gas pipeline project in Ohio into service, according to a company filing with U.S. federal energy regulators.TEAL is one of several gas pipelines designed to connect growing output in the Marcellus and Utica shale basins in Pennsylvania, West Virginia and Ohio with customers in other parts of the United States and Canada. The U.S. Federal Energy Regulatory Commission (FERC) [Read more]
Irving Oil says site of Oct. 8 incident at Saint John refinery contained
* The site at Irving Oil's Saint John refinery in New Brunswick, Canada, where an explosion and fire occurred on Monday, has been isolated and contained, the company said on Tuesday.* "We have determined that there are no concerns with regards to air quality," Irving Oil said in a statement on its website.* The incident resulted in the shutdown of the 320,000 barrel-per-day refinery. (Reporting by Eileen Soreng in Bengaluru Editing by Chizu Nomiyama) [Read more]
Irving Oil shuts refinery after fire at Saint John refinery
Irving Oil Corp's Saint John refinery in the Canadian province of New Brunswick was shut on Monday morning after a fire, with local media photos showing smoke billowing from the complex. The company said it was dealing with a "major incident" at the 320,000 barrel-per-day refinery. Local residents reported hearing an explosion and seeing a fire, according to local media. This happening right now, massive explosion and fire at Irving oil refinery. pic.twitter.com/tucyb5K65S— Ian [Read more]
Trans Mountain pipeline section shut as precaution in Surrey, British Columbia
A section of the Trans Mountain pipeline was shut on Sunday as a precautionary measure following complaints of an odor and reports of a gasoline-like substance near the line in Surrey, British Columbia, operator Trans Mountain Corp said."We have investigated the pipeline in the area. We have found no evidence that the source of the product is from the pipeline," the company said in a statement. A local media report, quoting British Columbia's environment ministry, said that the [Read more]
U.S. oil drillers cut rigs for third week in a row
The U.S. oil drilling rig count fell for a third consecutive week even though crude prices hit four-year highs this week, as rising costs and pipeline bottlenecks in the nation's largest oil field have hindered new drilling since June. Drillers cut two oil rigs in the week to Oct. 5, bringing the total count down to 861, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. This is the longest streak of weekly cuts since October last [Read more]
U.S. approves part of TransCanada Mountaineer natgas pipe for service
U.S. federal energy regulators on Friday approved a request by TransCanada Corp's Columbia Gas Transmission unit to put part of its $3 billion Mountaineer XPress natural gas pipeline project into service in West Virginia.Mountaineer is one of several pipelines designed to connect growing output in the Marcellus and Utica shale basins in Pennsylvania, West Virginia and Ohio with customers in other parts of the United States and Canada. Specifically, the U.S. Federal Energy Regulatory [Read more]
U.S. approves part of TransCanada WB XPress natgas pipe for service
U.S. federal energy regulators on Thursday approved a request by TransCanada Corp's Columbia Gas Transmission unit to put part of its WB XPress natural gas pipeline project into service in West Virginia.WB XPress is one of several pipelines designed to connect growing output in the Marcellus and Utica shale basins in Pennsylvania, West Virginia and Ohio with customers in other parts of the United States and Canada. The U.S. Federal Energy Regulatory Commission (FERC) said in a filing [Read more]
U.S. approves Williams’ Atlantic Sunrise natgas pipe for service
U.S. federal energy regulators on Thursday approved a request by Williams Cos Inc's Transcontinental Gas Pipe Line Co (Transco) unit to put the Atlantic Sunrise natural gas pipeline from Pennsylvania to South Carolina into service.The U.S. Federal Energy Regulatory Commission (FERC) said in a filing approving the startup of the nearly $3 billion project that Transco has "adequately stabilized the areas disturbed by construction and that restoration is proceeding [Read more]
Traders bet on WTI at $100 as Iran sanctions loom
NEW YORK/LONDON (Reuters) - Oil traders have piled into wagers that U.S. crude oil could surge to $100 a barrel by next year, a milestone that until recently many considered unthinkable due to record U.S. production growth and relatively flat global demand. But the imminent return of U.S. sanctions on Iran and bottlenecks keeping U.S. oil from getting to market have fueled a rally that has taken benchmark oil prices to four-year highs. While big producing nations say supply is ample, hedge [Read more]