TransCanada Corp seeks to suspend the application for its Energy East pipeline for 30 days and may abandon the project, the company said on Thursday, weeks after Canada's National Energy Board (NEB) announced a tougher review process. TransCanada will do a "careful review" of the new assessment process to gauge its effect on the costs, schedules and viability of the pipeline to the Atlantic coast, the company said in a statement. The NEB in August expanded the scope of Energy [Read more]
TransCanada may abandon Energy East pipe facing tougher review
TransCanada Corp will suspend the application for its Energy East pipeline for 30 days and may abandon the project, the company said on Thursday, weeks after Canada's National Energy Board (NEB) regulator announced a tougher review process. TransCanada will do a "careful review" of the new assessment process to gauge its effect on the costs, schedules and viability of the pipeline to the Atlantic coast, the company said in a statement. The NEB in August expanded the scope of [Read more]
TransCanada may abandon Energy East pipe facing tougher review
CALGARY, Alberta (Reuters) - TransCanada Corp (TRP.TO) will suspend the application for its Energy East pipeline for 30 days and may abandon the project, the company said on Thursday, weeks after Canada’s National Energy Board (NEB) regulator announced a tougher review process. TransCanada will do a “careful review” of the new assessment process to gauge its effect on the costs, schedules and viability of the pipeline to the Atlantic coast, the company said in a statement. The NEB in August [Read more]
TransCanada pauses Energy East pipe in face of tougher review
TransCanada Corp will suspend the application for its Energy East pipeline project for 30 days, the company said on Thursday, weeks after Canada's National Energy Board (NEB) regulator announced a tougher review process. The regulator said in August the review of Energy East will consider its indirect greenhouse gas contributions and will provide "more visibility" to the evaluation of risks associated with accidents such as oil spills. (Reporting by Ethan Lou; Editing by David [Read more]
Oil mixed, Brent rises as Irma casts shadow over Harvey recovery
NEW YORK (Reuters) - Oil futures were mixed on Thursday, with Brent rising to a 5-1/2 month high while U.S. crude slipped on a bigger-than expected crude stock build, as the restart of U.S. refiners after Hurricane Harvey was countered by the threat of Hurricane Irma. Brent futures gained 29 cents, or 0.5 percent, to settle at $54.49 a barrel, its highest close since April 18 for a second day in a row. U.S. West Texas Intermediate crude, meanwhile, lost 7 cents, or 0.1 percent, to settle at [Read more]
In sign of oil rebalancing, North Sea floating storage shrinks
LONDON, Sept 7 (Reuters) - The volume of global price benchmark North Sea crude being held in floating storage has declined sharply since mid-August, according to shipping data and trade sources, a sign that a long-awaited market rebalancing is gaining momentum. Two supertankers being used to store North Sea crudes offshore the UK, Desimi and Gener8 Neptune, contain about 4 million barrels of oil, trade sources said. Three weeks ago, the total was closer to 10 million barrels. The clearing of [Read more]
Calgary energy brokers launch consolidated crude index
Two Calgary energy brokers have joined forces to start a Canadian crude index that consolidates their trading data and will be published by energy information firm Enerdata, the companies said on Wednesday. One Exchange and Marex Spectron say aggregating their indices into one will provide more clarity in the Canadian cash market, greater liquidity and more accurate benchmark pricing for trading financial contracts. At present the Canadian crude market is served by a number of brokers [Read more]
Harvey damage prompts TransCanada to extend pipeline open season
TransCanada Corp will extend the open season on its Keystone pipeline system by a month because of the unprecedented flooding and damage caused by Hurricane Harvey slamming into the Gulf Coast region in late August, the company said on Wednesday. Shippers will now have until Oct. 26 to sign up for committed capacity on the existing Keystone and proposed Keystone XL pipelines that will carry crude from Alberta's oil sands to Cushing, Oklahoma and the Gulf Coast. The open season, which was [Read more]
Harvey damage prompts TransCanada to extend pipeline open season
CALGARY, Alberta, Sept 6 (Reuters) - TransCanada Corp will extend the open season on its Keystone pipeline system by a month because of the unprecedented flooding and damage caused by Hurricane Harvey slamming into the Gulf Coast region in late August, the company said on Wednesday. Shippers will now have until Oct. 26 to sign up for committed capacity on the existing Keystone and proposed Keystone XL pipelines that will carry crude from Alberta’s oil sands to Cushing, Oklahoma and the Gulf [Read more]
France plans to end oil and gas production by 2040
France plans to pass legislation this year to phase out all oil and gas exploration and production on its mainland and overseas territories by 2040, becoming the first country to do so, according to a draft bill presented on Wednesday. President Emmanuel Macron wants to make France carbon neutral by 2050 and plans to curb greenhouse gas emissions by leaving fossil fuels, blamed for contributing to global warming, in the ground. Under the draft presented to cabinet, France will no longer issue [Read more]