Canada Corp has started initial excavation work at the site of an oil spill on its Keystone pipeline in South Dakota but has not yet pinpointed where the leak came from, a state official said on Monday. The 590,000 barrel per day Keystone pipeline, which links Alberta's oil sands to U.S. refineries, was shut down on Thursday after a 5,000 barrel spill. Calgary-based TransCanada is working through the clean-up process, said Brian Walsh, environmental scientist manager for the South Dakota [Read more]
U.S. State Dept. studying Keystone XL route for ‘permitting impacts’ -official
The U.S. State Department is looking into whether Nebraska's approval of an "alternative" route for TransCanada Corp's Keystone XL pipeline through the state will require additional federal permitting, a spokesperson said. "We have heard about a possible modified route, and we are in the process of gaining more precise information in order to determine if there will be any permitting impacts as a result of those changes," the spokesperson said, asking not to be named. (Reporting by Valerie [Read more]
Two Alberta oil sands upgraders warn customers of volume cuts -sources
Two oil sands upgraders in Alberta have warned customers about cuts to synthetic crude output in November because of upsets at the plants, market sources said on Monday. Shell Canada, a unit of Royal Dutch Shell , has told customers synthetic crude volumes from its 255,000-barrel-per-day Scotford, Alberta, upgrader may be reduced in November and potentially December, trading sources said on Monday. Shell told customers it took units at Scotford offline on Wednesday because of a valve leak [Read more]
Shell Canada, Syncrude cut synthetic crude volumes -sources
Shell Canada, a unit of Royal Dutch Shell , has warned customers synthetic crude volumes from its 255,000 barrel per day Scotford, Alberta, upgrader may be reduced in November and potentially December, trading sources said on Monday. A Shell spokeswoman declined to comment. In a separate incident, the Syncrude oil sands project in northern Alberta has also told customers it will cut synthetic crude volumes by around 5 percent in November, two trading sources said. Syncrude has capacity to [Read more]
Oil eases as traders; investors grow edgy ahead of OPEC
NEW YORK (Reuters) - Oil prices slipped on Monday, extending recent weakness ahead of an OPEC meeting next week, while a rally in the dollar negatively affected commodities across the board. Brent crude futures were down 84 cents at $61.86, or 1.4 percent, by 11:37 a.m. EST (1637 GMT), while U.S. West Texas Intermediate (WTI) crude futures fell 70 cents, or 1.2 percent, to $55.85 a barrel. Oil has been under pressure for the last two weeks since peaking in early November; U.S. crude has lost [Read more]
Nebraska regulators approve Keystone XL pipeline route in win for Trump
Nebraska regulators voted on Monday to approve a route for TransCanada Corp’s Keystone XL pipeline through the state, lifting the last big regulatory obstacle for the long-delayed project that U.S. President Donald Trump wants built. The 3-2 decision 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 is likely to be challenged in court by opponents who say the project is an environmental [Read more]
As Venezuela pumps below OPEC target, oil rivals begin filling gap
As Venezuela's dilapidated energy sector struggles to pump enough crude oil to meet the country's OPEC output target, rival producers within the exporters group have started to plug the gap, OPEC and industry sources said. The South American country's oil output hit a 28-year low in October as state-owned oil giant PDVSA struggled to find the funds to drill wells, maintain oilfields and keep pipelines and ports working. Venezuela's oil production, which has been falling [Read more]
Keystone pipeline spill pushes oil higher, fuels TransCanada opponents
A major oil spill on the Keystone pipeline in South Dakota helped push U.S. crude prices higher on Friday, while fueling opposition to another pipeline project by owner TransCanada Corp that faces a crunch decision in Nebraska next week. The climb in U.S crude futures and slide in Canadian heavy crude prices, as well as TransCanada Corp shares, came the day after the 5,000 barrel spill, tied for this year's largest pipeline leak in the United States. No date has been set for [Read more]
U.S. oil drilling rig count holds steady this week -Baker Hughes
U.S. energy companies kept the oil rig count unchanged this week, General Electric Co's Baker Hughes energy services firm said on Friday, as some analysts expect a gradual decline in overall rigs in the fourth quarter and in 2018. The rig count , an early indicator of future output, held at 738 in the week to Nov. 17, still much higher than 471 rigs a year ago as energy companies boosted spending plans for 2017 as crude started recovering from a two-year price crash. The increase in [Read more]
Oil rises 2 percent, but still set for first weekly fall in six
NEW YORK (Reuters) - Oil prices rose about 2 percent on Friday, capping five sessions of losses, on expectations of an OPEC deal to extend curbs on production and the shutting of a major U.S. crude pipeline. Prices were still on track for their first weekly loss in six as rising U.S. output data was compounded by doubts that Russia would support an OPEC deal. Brent crude oil was $1.07 higher at $62.43 a barrel by 11:20 a.m. EST (1620 GMT) while U.S. West Texas Intermediate crude (WTI) [Read more]