WHISTLER, B.C. - The CEO of TransCanada Corp. (TSX:TRP) says the company will be talking with shippers to determine if they still support the Keystone XL pipeline project after it was given a new lease on life by U.S. President Donald Trump earlier this week. In his first comments since Trump invited the company to reapply to build the conduit to bring Canadian oil to the U.S. Gulf Coast, Russ Girling said he thinks the economic case for it can still be made. "I believe this [Read more]
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TransCanada CEO vows to ‘diligently’ work on permit application for Keystone XL
CALGARY - The CEO of TransCanada says the company will work "diligently" to complete an application for a presidential permit to build the Keystone XL pipeline after U.S. President Donald Trump said he would support its construction. In his first remarks since Trump's endorsement, Russ Girling says he believes the project makes "imminent sense" for both Canada and the United States. Girling was speaking Wednesday at a CIBC investor conference in Whistler, B.C. The $8-billion [Read more]
AltaGas Ltd. Announces $2.5 Billion Subscription Receipt Offering Comprised of $2.1 Billion Bought Deal and $400 Million Private Placement
CALGARY, ALBERTA--(Marketwired - Jan. 25, 2017) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc., RBC Capital Markets and J.P. Morgan Securities Canada Inc. to issue 67,800,000 subscription receipts (the "Subscription Receipts"), on a bought deal basis, at an issue price of $31.00 per Subscription Receipt (the "Offering Price"), for total gross proceeds of approximately $2.1 billion (the "Public [Read more]
Chevron Names Michael K. Wirth Vice Chairman
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE:CVX) said today that Michael K. Wirth, executive vice president of Midstream and Development, has been named vice chairman, effective February 1, 2017. “As a senior officer of Chevron, Mike has made significant contributions to the company’s success,” said John S. Watson, Chevron’s chairman and chief executive officer. “Mike’s experience, proven leadership and record of accomplishment will enable him to make a strong contribution [Read more]
AltaGas Ltd. to Acquire WGL Holdings, Inc. in C$8.4 Billion Transaction
CALGARY, ALBERTA--(Marketwired - Jan. 25, 2017) - Highlights: Transformational acquisition enhancing AltaGas Ltd.'s position as a leading, North American diversified energy infrastructure company with strong growth opportunities in Midstream, Power and Utilities; WGL Holdings, Inc. will continue to operate as a standalone utility headquartered in Washington D.C., with the same complement of dedicated employees, while also assisting in the management of AltaGas Ltd.'s U.S. regulated [Read more]
Keystone XL and Dakota Access: A legal perspective on each moving forward
The orders issued on Keystone and Dakota Access focus on very different processes, but seek the same result of expediting those processes, including by relying on existing environmental review. Significantly, neither mandate a particular result, though the President has said he supports both projects. The order on construction of the Keystone XL Pipeline maintains the long-standing delegation to the State Department to make a “national interest” determination, including by undertaking NEPA [Read more]
Canada can either get its act together or get left in the dust by President Trump
Not even one week. That is how long Donald Trump has thus far served as President of the United States. Already he has managed to greenlight two major pipeline projects, pull out of a trade deal that he viewed as unfair, and begin the process of repealing the Affordable Care Act (Obamacare). By all accounts that is productive, and to the many wondering if Trump would follow through on the many promises he made during the presidential campaign, it appears he is planning to...at quite the [Read more]
What’s next for the Dakota Access, Keystone XL pipelines?
BISMARCK, N.D. - President Donald Trump's executive actions on the Dakota Access and Keystone XL pipelines are aimed at turning the much-protested pipelines into reality. Here's a look at what may be next for the two pipelines: WHAT THEY ARE AND WHERE THEY STOOD BEFORE TUESDAY The $3.8 billion Dakota Access pipeline to carry North Dakota oil through South Dakota and Iowa to a shipping point in Illinois is nearly complete, except for a stretch underneath Lake Oahe, a Missouri [Read more]
Positive Long-term Global LNG Outlook for Adaptive Companies says Deloitte
HOUSTON, Jan. 25, 2017 /PRNewswire/ -- Despite near-term headwinds, the long-term future of global liquefied natural gas is positive for participants able to adapt to a more fragmented market, new and different customer expectations and more short-term and flexible commercial arrangements, according to Deloitte's new report "Navigating the new world of LNG." "The transformation of global LNG markets is underway, and the future is expected to look very different from the past and present," [Read more]
Keystone XL: Hundreds protest at White House, signalling upcoming pipeline fight
WASHINGTON - Hundreds of people gathered at the White House for an anti-pipeline protest Tuesday that hints at an aggressive upcoming challenge against the Keystone XL pipeline, despite its support from the new U.S. administration. The crowd descended upon the presidential residence hours after Donald Trump signed executive orders aimed at facilitating the construction of two pipelines. The protesters chanted slogans, held up signs like, "You can't drink oil," and, "Keep It In [Read more]