U.S. energy companies this week added oil rigs, with the monthly rig count rising for the first time since July as crude prices traded near their highest levels since the summer of 2015. Drillers added nine oil rigs in the week to Nov. 22, bringing the total count up to 747, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Wednesday. Baker Hughes released the rig count early this week due to the U.S. Thanksgiving Day holiday on Thursday. The [Read more]
Keystone clean-up to last several weeks, line restart unclear
The clean-up of an oil spill from TransCanada Corp's Keystone pipeline may last several weeks, South Dakota's environmental regulator said on Wednesday, but it is still unclear when the key artery will restart. Last week, the Keystone system linking Alberta's oil sands with U.S. refineries spilled 5,000 barrels in rural northeastern South Dakota, four days before neighboring Nebraska voted to remove a big regulatory obstacle for the company's Keystone XL project. [Read more]
TransCanada ‘cautiously optimistic’ after Nebraska decision – Alberta premier
TransCanada Corp is "cautiously optimistic" about prospects for construction of its Keystone XL pipeline even after the state of Nebraska denied the company's preferred route, the leader of the oil-producing province of Alberta said on Wednesday. The comments by Premier Rachel Notley, whose government spoke with TransCanada representatives after the decision, were the first indication of the company's stance on Monday's announcement from the Nebraska Public Service Commission. TransCanada has [Read more]
U.S. pipeline regulator to remain on site of spill until restart
U.S. pipeline regulatory officials will remain at the site of TransCanada Corp's Keystone crude oil pipeline spill in South Dakota until the line has been restarted, the agency said on Wednesday. Personnel will monitor the excavation and packaging of the damaged pipe section for testing, a spokesman for the Pipeline and Hazardous Materials Safety Administration said in an email. The investigation over the spill last week is ongoing, he added. (Reporting by Catherine Ngai; Editing by [Read more]
U.S. crude pares gains, but lingers near 2-year high
BOSTON (Reuters) - Oil pared gains on Wednesday after U.S. crude stockpiles fell less than an industry group’s expectations, but remained near a two-year high as the shutdown of one of the largest crude pipelines from Canada cut supply to the United States. The restart of the 590,000 barrel-per-day (bpd) Keystone pipeline shut last week due to a spill could take several weeks. Operator TransCanada Corp has told clients it will cut deliveries on the pipeline linking Alberta’s oil sands with [Read more]
S. Dakota regulators say they could revoke Keystone permit after spill
South Dakota regulators said on Tuesday they could revoke TransCanada Corp's permit to operate the Keystone crude oil pipeline in the state if an initial probe into last week's spill finds the company violated its license. Last week the Keystone system linking Alberta's oil sands with U.S. refineries spilled 5,000 barrels in rural northeastern South Dakota , days before neighboring Nebraska approved a proposed a route for the company's separate Keystone XL expansion [Read more]
U.S. State Department declines to say if new Keystone XL pipeline review needed
WASHINGTON, Nov 21 (Reuters) - The U.S. State Department on Tuesday declined to comment on whether Nebraska’s approval of an alternative route for the Keystone XL pipeline will trigger a new review by the department. “I think that’s something we can’t comment on because it’s all ... in the courts right now,” State Department spokeswoman Heather Nauert said at a news briefing. Nebraska regulators on Monday approved a route for TransCanada Corp’s Keystone XL pipeline through the state which [Read more]
Shareholders urge TransCanada to back Keystone XL despite risk
TransCanada Corp should push ahead with an $8 billion Keystone XL pipeline expansion after the state of Nebraska on Monday approved a route that would raise the cost of the controversial project, some shareholders said. The approval quashed the last regulatory hurdle for the nearly decade-old project, but the Nebraska Public Service Commission denied TransCanada's preferred route. That opened the door to potential delays and emboldened activists who said they would try to kill the project [Read more]
Oil steadies as caution sets in ahead of OPEC meeting
LONDON (Reuters) - Oil rose on Tuesday, supported by expectations of an extension next week to OPEC output cuts, but prices remained under pressure from signs of higher output in the United States. Brent crude oil was up 17 cents at $62.39 a barrel at 1452 GMT. U.S. light crude was at $56.72, up 30 cents. Analysts said Brent was expected to fluctuate in a narrow range, from $61 to $63, as the market awaited the outcome of the Organization of the Petroleum Exporting Countries’ meeting on [Read more]
Nebraska clears path for Keystone XL pipeline, challenges remain
Nebraska regulators approved a route for TransCanada Corp's Keystone XL pipeline through the state on Monday, removing a big regulatory obstacle for the long-delayed project backed by President Donald Trump, but leaving its future shrouded in legal and market uncertainty. The 3-2 vote by the Nebraska Public Service Commission helps clear the way for the pipeline linking Canada's Alberta oil sands to refineries in the United States. But opponents have promised to tie the project up [Read more]