Kinder Morgan Canada Ltd saidon Sunday it is suspending all non-essential activities andrelatedspending on the expansion project for its Trans MountainPipeline.KML also said that it will not commit additional shareholderresources to the project under current circumstances,specifically including the continued actions inopposition to the Project by the Province of British Columbia. The company will, however, consult with various stakeholdersin an effort to reach agreements by May 31 that may [Read more]
Keystone pipeline leak in S. Dakota about double previous estimate -paper
The Keystone crude oil pipeline leak inNovember in rural South Dakota was nearly double the originalestimate, making it one of the largest U.S. inland spills since2010, a newspaper report on Saturday said.Robynn Tysver, a spokeswoman for Calgary-based TransCanadaCorp , which owns the pipeline, told the AberdeenAmerican News some 9,700 barrels of oil leaked in the Nov. 16spill, the South Dakota paper reported. The original estimatewas 5,000 barrels.The spill gave further ammunition to [Read more]
Oil inches down on Trump’s latest China trade threats
NEW YORK (Reuters) - Oil prices fell more than 1 percent on Friday after U.S. President Donald Trump threatened new tariffs on China, reigniting fears of a trade war between the world’s two largest economies that could hurt global growth. Trump said on Thursday he had ordered U.S. trade officials to consider tariffs on an extra $100 billion of imports from China, escalating tensions with Beijing. “The heightened possibility of an outright tariff war is conjuring up images of slowed [Read more]
U.S. drillers add oil rigs for the third week in four
(Reuters) - U.S. energy companies added oil rigs for the third time in four weeks as crude prices drifted from a three-year high hit earlier this year amid concerns of a trade war between U.S. and China. Drillers added 11 oil rigs in the week to April 6, bringing the total count up to 808, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. This was the biggest weekly addition in about two months. The [Read more]
Heavy crude discount widens after rally
The Canadian heavy oil discount widenedagainst the West Texas Intermediate (WTI) benchmark on Thursday,pulling back from a multiday rally on an unexpected boost inpipeline capacity as some producers temporarily cut production. * Western Canada Select (WCS) heavy blend crude for Maydelivery in Hardisty, Alberta, settled at $17.10 a barrel belowthe WTI benchmark crude price , according to ShorcanEnergy brokers, compared with Tuesday's settle of $16.15. * Some heavy oil producers have [Read more]
Texas oil output surge clogs pipelines, depresses prices
NEW YORK (Reuters) - The Permian basin in Texas is leading the way as U.S. oil production has reached an all-time high, but the prolific output is causing bottlenecks as pipelines transporting the crude have filled up more quickly than expected. That has depressed prices there, posing a threat to future production, while providing a boost to pipeline companies as the lines have filled to near-capacity. With few new pipeline projects scheduled for this year, producers may be forced to slow [Read more]
Imperial says Strathcona refinery units shut for several weeks for planned work
* Imperial Oil said it shut some units andassociatedoperations on Wednesday for planned work at its 187,000 barrelsper day refinery in Strathcona, Alberta.* The maintenance is expected to continue for several weeks,thecompany said on Thursday, adding it expected to meet allcontractual commitments. (Reporting by Apeksha Nair and Nithin Prasad in Bengaluru) [Read more]
Oil gains with equities as U.S.-China tensions ease
NEW YORK (Reuters) - Oil prices were modestly higher on Thursday, helped by gains in U.S. equities markets as trade tensions between China and the United States eased, but the advance was limited by strength in the dollar. .S. West Texas Intermediate crude rose 14 cents to $63.50 a barrel. Brent crude futures were up 29 cents to $68.31 a barrel at 11:27 a.m. EDT (1527 GMT). After a day of concern over tit-for-tat responses between the United States and China over tariffs on various [Read more]
Enbridge said to seek partial sale of German wind farm stake – Bloomberg
-- Source link: -- Note: Reuters has not verified this story and does notvouch for its accuracy [Read more]
Heavy crude discount continues to narrow
The Canadian heavy oil discount narrowed again on Wednesday against the West Texas Intermediate (WTI) benchmark, continuing an unexpected bounce on an incremental boost in pipeline capacity. Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, settled at $16.15 a barrel below the WTI benchmark crude price, according to Shorcan Energy brokers, compared with Tuesday's settle of $17.90. The move may be caused by pipeline operator Enbridge Inc freeing up space [Read more]