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Canada’s Trans Mountain oil pipeline faces hearing on route change dispute

September 18, 2023

BOE Report Canadian regulators on Monday kicked off a two-day hearing to weigh up a controversial route change request from the Trans Mountain expansion (TMX) project that has sparked Indigenous opposition and may lead to further delays for the key oil pipeline. After years of environmental opposition, regulatory hold-ups and ballooning costs, Canadian government-owned TMX is nearing completion and due

Carbon pipeline operator Denbury considered over 28 proposals prior to ExxonMobil deal

August 31, 2023

World Oil (Bloomberg) – Denbury Inc. held talks with more than two dozen potential buyers and rejected two offers from ExxonMobil Corp. before finally agreeing to sell itself to the Texas oil giant for $4.9 billion in stock last month. Executives and their advisers spoke with more than 28 parties, from international oil majors to pipeline operators, signing confidentiality agreements with 17

Canada government body guarantees up to $2.2 billion fresh loan to Trans Mountain expansion project

August 7, 2023

Investing A Canadian government agency has guaranteed fresh commercial loans of up to C$3 billion ($2.2 billion) to the controversial Trans Mountain pipeline expansion project that has suffered repeated cost overruns. The information disclosed by Export Development Canada (EDC) showed that a new loan guarantee of C$2.75-C$3 billion was signed in July, though it first appeared on EDC’s website late

Canadian oil producers eye big boost with trans mountain extension

August 4, 2023

Oil Price Canadian oil sands producers are in a rush to boost production as the Trans Mountain expansion comes online, providing an additional 590,000 bpd in capacity. Bloomberg reports that Canadian Natural Resources and Cenovus are among the producers planning on output boosts in the coming months. Canadian Natural Resources plans to increase production by some 40,000 bpd in the current quarter, while

US Supreme Court removes obstacle to Mountain Valley Pipeline

July 27, 2023

Nasdaq WASHINGTON – The U.S. Supreme Court on Thursday removed an obstacle to completing the long-delayed Mountain Valley Pipeline, dealing a blow to environmental groups opposed to the West Virginia-to-Virginia pipeline led by energy company Equitrans Midstream ETRN.N. The justices granted Mountain Valley Pipeline LLC’s request to lift stays imposed by a lower court that had halted construction of a final short section of the

TC Energy agrees to sell 40% of U.S. natural gas pipelines for $3.9 billion

July 24, 2023

Oil Price TC Energy has agreed to sell 40% of the Columbia Gas and Columbia Gulf pipelines in the U.S. for US$3.9 billion (C$5.2 billion) in cash, the Canada-based pipeline giant said on Monday. Columbia Gas and Columbia Gulf will be held in a new joint venture partnership with Global Infrastructure Partners (GIP), said TC Energy, which will speed up its debt

Argentina launches gas pipeline from Vaca Muerta shale play

July 10, 2023

Oil Price Argentina inaugurated on Sunday a natural gas pipeline from the Vaca Muerta shale to a town in the Buenos Aires province, as part of its efforts to become energy independent and stop paying billions of dollars for LNG imports. Argentinian President Alberto Fernández officially launched the first leg of the Néstor Kirchner gas pipeline (Gasoducto Presidente Néstor Kirchner), which runs

US Mountain Valley natgas pipe moving forward, capacity may be limited

June 23, 2023

Nasdaq The $6.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia is on track to get final permits by Saturday, moving the long-delayed project closer to re-starting construction. Some analysts, however, said that even when the pipe enters service, which could be as soon as the end of 2023, it would only operate at half capacity or

US LNG project approvals on track for record new volumes

June 23, 2023

BOE Report U.S. liquefied natural gas (LNG) developers are on track to approve three export projects capable of processing 5.1 billion cubic feet per day (bcfd) of gas in the first half of the year, a record volume for new LNG projects in any year. The U.S. became the world’s largest LNG producer by installed capacity in 2022 driven by

Enbridge ordered to close oil pipeline on Wisconsin tribal land

June 19, 2023

Oil Price A U.S. District judge has ordered Canadian pipeline giant Enbridge to close within three years parts of the Line 5 oil pipeline crossing tribal land in Wisconsin and to pay around $5 million for trespassing. The Bad River Band of Lake Superior Chippewa, a Native American tribe, last month sought an immediate shutdown in court, due to erosion of the Bad River

U.S. pipeline giant: Energy transition will need more natural gas infrastructure

June 16, 2023

Oil Price U.S. natural gas infrastructure will have to expand so that gas can serve as a backup power generation fuel amid soaring wind and solar capacity in the energy transition, says the chief executive of the pipeline giant handling one-third of U.S. gas deliveries. Natural gas will continue to be needed to prevent blackouts if weather is not

Canada guarantees loans for Trans Mountain Pipeline expansion

June 2, 2023

Oil Price Canada’s federal government has guaranteed loans of $2.23 billion (C$3 billion) to the corporation building the Trans Mountain expansion project to triple the capacity of oil flows from Alberta to the Canadian Pacific Coast. The Trans Mountain Expansion project has been dragging on for years and faces environmental opposition and rising construction costs. Fierce opposition in British

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