TransCanada Corp said on Monday a part of its Keystone crude pipeline from Steele City, Nebraska, to Patoka, Illinois, remained shut after a leak was discovered in the St. Louis, Missouri, area last week.The cause and source of the spill have not been determined and there is no estimated timeline for a restart, TransCanada spokesman Terry Cunha said in an email. The 590,000 barrels-per-day Keystone pipeline system is a critical artery taking Canadian crude from northern Alberta to U.S. … [Read more...]
Heavy crude discount grows, Keystone section stays closed
The Canadian heavy oil differential widened against the West Texas Intermediate (WTI) benchmark on Friday, as a section of the Keystone pipeline remained closed because of an oil leak in Missouri:* Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $11 a barrel below WTI crude futures wider than Thursday's settle at $10.25 below WTI, according to Net Energy Exchange.* A portion of TransCanada Corp's Keystone oil pipeline between … [Read more...]
U.S. drillers add oil rigs for second week in three -Baker Hughes
U.S. energy firms this week increased the number of oil rigs operating for the second time in three weeks after oil prices soared over 18 percent in January.Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, 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 still higher than a year ago when 791 rigs were active after energy companies boosted … [Read more...]
Enbridge to fully restart Platte Pipeline by Saturday after Missouri oil leak
Enbridge Inc said on Friday that it has begun a restart plan for its Platte Pipeline, after a leak of oil near St. Louis, Missouri this week.The company expects the full pipeline to resume normal operations by Saturday morning and is "highly confident" that Platte is not the source of the leak, spokesman Devin Hotzel said.A spill in rural St. Charles County, Missouri on Wednesday also led TransCanada Corp to shut its Keystone pipeline on Wednesday between Steele City, Nebraska … [Read more...]
Oil edges up, heads for weekly loss on slowdown worries
Oil inched up on Friday but was heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support. Weighing on financial markets were concerns that a trade dispute between the United States and China would remain unresolved, denting global economic prospects. U.S. West Texas Intermediate crude futures stood at $52.53 per barrel, down 11 cents and looking at a 5 percent … [Read more...]
Part of Keystone, Platte oil pipeline shut after potential leak
A portion of TransCanada Corp's Keystone oil pipeline and Enbridge's Platte pipeline remained shut on Thursday for investigation of a possible leak in the St. Louis, Missouri, area, officials said.TransCanada shut the pipeline down on Wednesday between Steele City, Nebraska and Patoka, Illinois and dispatched crews to assess the situation, company spokesman Terry Cunha said in an email.The 590,000 barrels-per-day Keystone pipeline is a critical artery taking Canadian crude from … [Read more...]
Heavy crude differential widens after part of Keystone line shuts
The Canadian heavy oil differential widened modestly against the West Texas Intermediate (WTI) benchmark on Thursday, after a portion of the critical Keystone pipeline shut down due to a potential leak:* Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $9.90 a barrel below WTI crude futures after word of the shutdown spread, wider than earlier trades at $9.40. The spread had settled at $10 below WTI on Wednesday, according to Net Energy … [Read more...]
TransCanada’s Keystone oil pipeline shut after possible leak near St Louis – traders
A part of TransCanada Corp's Keystone oil pipeline was shut on Wednesday after a possible leak in the St Louis, Missouri, area, according to three sources familiar with the matter.It was unclear, however, if the leak was from the Keystone pipeline itself, traders said, adding that the Steele-City-to-Patoka line was shut."The release is stopped," said an official from Missouri Department of Natural Resources, adding that the spill occurred north of the city of St. … [Read more...]
Suncor CEO sees Alberta government oil curtailments ending early
Suncor Energy Inc , one of Canada's biggest oil producers, expects the province of Alberta to end mandatory production curtailments ahead of schedule as they have caused a price boost that makes rail shipments uneconomic, Chief Executive Officer Steve Williams said on Wednesday. Such unintended consequences are happening faster than the Alberta government likely expected, and it should now plan for a "soft exit" from curtailments that is fair to producers, Williams said on a quarterly … [Read more...]
United States becomes top source for Britain’s oil imports
* Crude oil imports from the United States to Britain in January overtook supplies from other countries for the first time since such shipments began in 2015, data from energy analysts at Kpler showed.* The United States lifted an oil export ban in 2015.* British imports of U.S. oil reached 264,000 barrels per day (bpd) last month, compared with Norway's 181,000 bpd in second place and total imports of 738,000 bpd.* Other top exporters to Britain include Algeria, Russia, Nigeria and … [Read more...]
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