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
Nasdaq Canadian natural gas exports to the U.S. this week returned to levels seen before wildfires in Alberta and other western provinces over the past three weeks forced producers to shut oil and gas wells and cut the amount of fuel flowing in pipelines. That return to normal gas flows from Canada caused U.S. gas futures to plunge about 10%
Yahoo Finance HOUSTON – Pipeline operator Energy Transfer slammed the U.S. Department of Energy’s denial of an export-permit extension to its Louisiana liquefied natural gas (LNG) export project in a DOE filing, seeking a rehearing. The DOE had denied Energy Transfer’s request for a three-year extension of its multi-billion-dollar Lake Charles LNG project, saying the request did not meet
Yahoo Finance (Bloomberg) — Oneok Inc. agreed to buy Magellan Midstream Partners LP in a $18.8 billion cash-and-stock transaction that would create one of the largest US oil and natural gas pipeline operators. The deal will see each Magellan stakeholder receive $25 in cash and 0.667 shares of Oneok stock per unit, representing a 22% premium to closing prices on
World Oil (WO) – Tellurian Inc. announced that the U.S. Federal Energy Regulatory Commission (FERC) issued the certificate on April 21, 2023 granting authorization for Driftwood Pipeline, LLC’s Line 200 and Line 300, an approximate $1.4 billion natural gas transmission project proposed to be located in Beauregard and Calcasieu Parishes, Louisiana. The pipelines will have the ability to supply up
Nasdaq COPENHAGEN – Denmark on Thursday invited the Russian-controlled operator of the Nord Stream 2 pipeline to help salvage an unidentified object found close to the only remaining intact gas pipeline under the Baltic Sea. Three explosions last September on the Nord Stream pipelines built to deliver Russian gas to Germany have become another flashpoint in a standoff between the West
Nasdaq HOUSTON – Oil flows on TC Energy’s TRP.TO Keystone pipeline will not change after the U.S. pipeline regulator said it would require the company to reduce pressure following a 13,000-barrel oil spill in Kansas in December, Chief Executive François Poirier told Reuters on Thursday. Keystone has already been operating within the requirements of the new order from the Pipeline and
Yahoo Finance CALGARY — Canadian Natural Resources Ltd.’s profits took a hit in the fourth quarter of 2022 as extreme winter weather forced the oilsands giant to reduce production. The Calgary-based company reported Thursday that it earned $1.52 billion or $1.36 per diluted share for the quarter ended Dec. 31, down from $2.53 billion or $2.14 per diluted share
Oil Price Crude oil from Kazakhstan started flowing via the Russian pipeline network to Poland for further delivery to Germany, Russian pipeline monopoly operator Transneft said on Monday. Kazakh crude oil began flowing to Germany via transit through Poland, Transneft’s representative Igor Demin told Russian news agency TASS. This weekend, Kazakhstan’s oil pipeline operator KazTransOil delivered 20,000 tons of Kazakhstani oil
BOE Report Oil prices edged lower on Monday as a stronger dollar discouraged buying though losses were limited by supply concerns after Russia halted exports to Poland via a key pipeline. West Texas Intermediate U.S. crude futures (WTI) traded at $75.88, down by 51 cents or 0.67%. Benchmark Brent crude futures were down 41 cents, or 0.50%, at $82.40 a
BOE Report WASHINGTON – The U.S. judge presiding over Michigan’s bid to shut down the Line 5 pipeline has agreed to let the state appeal a key ruling even though the case remains unresolved. District Court Judge Janet Neff has granted a motion from Michigan Attorney General Dana Nessel, clearing the way for what’s known as an interlocutory appeal.
Oil Price Canada’s pipeline operator Enbridge (NYSE: ENB) reported on Friday a loss for the fourth quarter of 2022, compared to a profit for the same period of 2021, due to a non-cash goodwill impairment of US$1.86 billion (C$2.5 billion) in its gas transmission reporting unit. Enbridge, which moves large volumes of oil and gas in North America –including on
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