May 3 (Reuters) - Pressure restrictions on TransCanada Corp’s Keystone oil pipeline were lifted on Tuesday 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 flow rates are, said Darius Kirkwood, a spokesman for the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA). The company in November shut down its 590,000-barrel-per-day Keystone pipeline, which links Alberta’s oil [Read more]
Enbridge agrees to pay $1.86 mln in pipeline inspection settlement
Enbridge Inc has agreed to pay $1.86 million in penalties for an alleged failure in inspecting certain lines within its Lakehead pipeline system. The settlement with the U.S. Justice Department and the Environmental Protection Agency, made public on Wednesday,resolves differences of opinion around the schedule under the consent decree for several internal inspections of pipelines - Line 2, 3, 4 and 5, Enbridge said. In 2016, Enbridge agreed to pay $1.77 million in penalties and improve [Read more]
TransCanada to start work on Keystone XL in Montana in fall 2018
TransCanada Corp plans to start preliminary work on its Keystone XL pipeline project in Montana in the fall of 2018 ahead of full construction in 2019, according to a letter from the U.S. State Department to Native American tribes. The letter, dated April 10, and seen by Reuters, states that the Assiniboine and Sioux tribes were being notified of the upcoming work as part of government consultation aimed at minimizing any adverse effect on their historic territory in northeast Montana. The [Read more]
Canadian Natural Resources profit more than doubles on higher output
Canadian Natural Resources Ltd ,Canada's largest independent petroleum producer, said onThursday its quarterly profit more than doubled, helped byhigher oil sands production.The Calgary-based company said net income rose to C$583million, or 47 Canadian cents per share, in the first quarterended March 31, from C$245 million, or 22 Canadian cents, a yearearlier. Overall daily production rose to 1.12 million barrels of oilequivalent per day (boepd) from 876,907 boepd. (Reporting by Karan [Read more]
Oil prices fall on rising U.S. crude inventories, record production
Oil prices dipped on Thursday,weighed down by swelling U.S. crude inventories and recordweekly U.S. production which is countering efforts by producercartel OPEC to cut supplies and prop up prices.Brent crude oil futures were at $73.21 per barrel at0150 GMT, down 15 cents, or 0.2 percent, from their last close.U.S. West Texas Intermediate (WTI) crude futures were down 8cents, or 0.1 percent, at $67.85 per barrel.Prices were pulled down by a report from the U.S. EnergyInformation [Read more]
Alberta to hold talks on crude transport with producers, railways -minister
CALGARY, Alberta (Reuters) - Alberta will hold talks with rail operators and oil producers aimed at smoothing the path to get more crude moving by rail amid a transportation bottleneck in the Western Canadian province, Alberta’s energy minister said on Wednesday. The first session on Friday will include senior executives from Canada’s top oil producers and the two main railways, Canadian Pacific Railway and Canadian National Railway, the minister, Margaret McCuaig-Boyd, told reporters at a [Read more]
Suncor CEO expects Canada to move soon to ensure oil pipeline is built
The chief executive ofCanada's Suncor Energy Inc said on Wednesday he expectedPrime Minister Justin Trudeau to move in the "next few weeks" toensure that Kinder Morgan Canada's Trans Mountain oilpipeline expansion goes ahead.Steve Williams would not say what exactly he expectedTrudeau to do to guarantee the C$7.4 billion ($5.8 billion)project gets built, but told reporters he was encouraged by along conversation he had with the prime minister last month."I'm [Read more]
Canada’s Crescent Point set to win support for director nominees -sources
Canadian energy producer CrescentPoint Energy Corp is poised to win support for itsdirector nominees based on preliminary counting of votes,shrugging off opposition from activist investor Cation Capital,sources familiar with the matter told Reuters on Wednesday.Final results are expected to be announced on or beforeFriday.The proxy fight for Crescent Point is the biggest for theCanadian energy sector in at least about four years and theoutcome is closely watched by energy investors, who are [Read more]
Oil eases as Iran ramps up exports and U.S. storage tanks fill up
LONDON (Reuters) - WTI is slightly up and Brent the opposite so far on Wednesday. Brent is surrendering early gains after evidence of further increases in U.S. shale supply and a rise in Iranian exports ahead of a possible renewal of U.S. sanctions on Tehran. U.S. West Texas Intermediate crude futures were up 18 cents at $67.43, off a session high of $67.85. July Brent futures were down 16 cents at $72.97 a barrel by 1100 GMT, after falling nearly 3 percent on Tuesday to their lowest in two [Read more]
Canadian energy minister says Petronas is taking stake in LNG Canada – Business in Vancouver
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