Canadian Prime Minister JustinTrudeau will on Sunday try to tackle an escalating dispute overa oil pipeline project that threatens to undermine his politicaland economic agenda.Kinder Morgan Canada Ltd wants to almost triple thecapacity of its Trans Mountain pipeline from oil-rich Alberta tothe Pacific province of British Columbia, which strongly opposesthe idea on environmental grounds.Trudeau - who says the expansion will benefit the economyand needs to proceed - is due to hold a emergency [Read more]
Canada’s Trudeau faces election risk after firm’s pipeline surprise
Canada's government got just 24hours notice that it would be thrust into a political andeconomic crisis by an ultimatum from a pipeline operator,government sources said, leaving Prime Minister Justin Trudeauscrambling for options in a dispute that could damage hisre-election chances.The Kinder Morgan Canada pipeline issue has pittedOttawa against the Pacific province of British Columbia andcould turn into a constitutional crisis, derail Trudeau's energystrategy and dent business [Read more]
Heavy crude discount narrows on more rail
The Canadian heavy oil discountnarrowed against the West Texas Intermediate (WTI) benchmark onFriday, continuing a rally as production cuts have freed uppipeline space and more rail capacity has been made availablefor crude shippers. * Western Canada Select (WCS) heavy blend crude for Maydelivery in Hardisty, Alberta, settled at $14.40 a barrel belowthe WTI benchmark crude price , according to ShorcanEnergy brokers, compared with Thursday's settle of $15.05. * The discount has narrowed [Read more]
Phillips 66 JV Borger refinery restarting gasoline units, HTU -sources
* Phillips 66 was restarting on Friday thegasoline-producing unit and a hydrotreating unit (HTU) at its146,000 barrel-per-day (bpd), joint-venture Borger, Texas,refinery, said sources familiar with plant operations.* The two 30,000-bpd gasoline-producing catalytic crackingunitsand 73,000-bpd cat feed HTU were shut on Wednesday and areexpected back in production by the middle of next week, thesources said. (Reporting by Erwin Seba; Editing by Richard Chang) [Read more]
U.S. drillers add oil rigs for second consecutive week
U.S. energy companies added oil rigs for a second week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices at three-year highs. Drillers added seven oil rigs in the week to April 13,bringing the total count to 815, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is much higher than a year ago [Read more]
Enbridge: Line 5 ops normal after damage at Straits of Mackinac
Enbridge on Thursday said itsLine 5 was operating normally after damage was discovered on thepipeline in the Straits of Mackinac.Following a series of inspections of the line there were twodents on the west pipeline and one on the east pipeline, thecompany said.Enbridge said it was taking immediate action to conductrepairs, adding that the structural integrity of the pipelineswas not compromised.The 540,000-barrel-per-day pipeline from Wisconsin toOntario carries Canadian light crude as well [Read more]
Heavy crude discount narrows again
The Canadian heavy oil discountnarrowed against the West Texas Intermediate (WTI) benchmark onThursday. * Western Canada Select (WCS) heavy blend crude for Maydelivery in Hardisty, Alberta, settled at $15.05 a barrel belowthe WTI benchmark crude price , according to ShorcanEnergy brokers, compared with Wednesday's settle of $15.25. * The discount has narrowed in recent weeks as producerslike Canadian Natural Resources , faced with transportation issues and the wide differential, have [Read more]
Shell Reports Maintenance at Scotford, Alberta Facility – Community Line (April 11)
ROYAL DUTCH SHELL :* SHELL REPORTS MAINTENANCE ACTIVITY AT ITS SCOTFORD,ALBERTA FACILITY SOURCE: COMMUNITY INFORMATION LINETHE SCOTFORD FACILITY HOUSES A 100,000 BARREL-PER-DAY REFINERYAND A 255,000 BARREL-PER-DAY OIL SANDS UPGRADER (Reporting By Nallur Sethuraman in Bengaluru) [Read more]
Canada’s Trudeau to meet provincial premiers on pipeline dispute
Canadian Prime Minister JustinTrudeau will interrupt a foreign trip to return to Ottawa for ameeting on Sunday with the premiers of two provinces arguingover an oil pipeline, Trudeau's office said on Thursday.Trudeau was due to leave Ottawa on Thursday for a nine-daytrip, starting with a regional summit in Peru on Friday andSaturday. (Reporting by David Ljunggren; Editing by Dan Grebler) [Read more]
OPEC sees oil markets tighten further even as U.S. shale booms
LONDON (Reuters) - The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from rivals who have benefited from higher oil prices. U.S. shale oil output has been booming over the past year since OPEC reduced its own production in tandem with Russia to prop up global oil prices. But as oil production collapsed in OPEC member Venezuela and is still facing hiccups in [Read more]