• 8 minutes U.S. Shale Oil Debt: Deep the Denial
  • 13 minutes WTI @ $75.75, headed for $64 - 67
  • 16 minutes Trump vs. MbS
  • 8 hours Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 15 hours Nuclear Pact/Cold War: Moscow Wants U.S. To Explain Planned Exit From Arms Treaty
  • 15 hours Why I Think Natural Gas is the Logical Future of Energy
  • 3 hours Merkel Aims To Ward Off Diesel Car Ban In Germany
  • 14 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 8 hours Get on Those Bicycles to Save the World
  • 12 hours Iraq war and Possible Lies
  • 1 day Satellite Moons to Replace Streetlamps?!
  • 1 day Can “Renewables” Dent the World’s need for Electricity?
  • 1 day Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 22 hours Long-Awaited Slowdown in China Exports Still Isn’t Happening
  • 9 hours EU to Splash Billions on Battery Factories
  • 1 day Can the World Survive without Saudi Oil?
Alt Text

Are U.S. Oil Exports Really Unstoppable?

U.S. crude oil exports hit…

Alt Text

U.S-Saudi Clash Could Spell Disaster For OPEC

The Khashoggi case could have…

Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

WTI Slips As TransCanada Restarts Keystone

TransCanada has announced has restarted its Keystone oil pipeline today under reduced pressure, after the Pipeline and Hazardous Materials Safety Administration reviewed the company’s repair and restart plans.

TransCanada had shut the 600,000-bpd pipeline two weeks ago, after it leaked 5,000 barrels of crude into agricultural lands in South Dakota. Following the leak, South Dakota regulators said they might revoke their approval of the Keystone XL oil pipeline project if they find TransCanada was in breach of its license with the Keystone leak.

The South Dakota regulators are worried about the leak since it is the third to occur in a decade, which is too many given the pipeline’s lifespan is 100 years. Yesterday, Reuters reported, after reviewing risk assessment documents submitted by the company to regulators, that the pipeline had leaked more oil than TransCanada had calculated before the pipeline went into operation seven years ago. In these documents, TransCanada had estimated the likelihood of a spill of over 50 barrels of crude at “not more than once every seven to 11 years over the entire length of the pipeline in the United States.”

Keystone transports crude oil from Canada to refineries in Oklahoma and Illinois, and passes through North and South Dakota, Nebraska, Kansas, and Missouri. The Keystone XL is planned to pass through Montana and South Dakota, ending in Nebraska, where it would connect to the existing pipeline network going on to the Gulf Coast.

WTI prices jumped to two-year highs after the leak, hitting US$59 a barrel last Friday, before retreating on the announcement of the pipeline’s restart. However, TransCanada said the pipeline will initially operate at reduced pressure—hence capacity—which should help keep prices high for a while longer.

The time when the leak occurred was unfortunate for TransCanada as it occurred on the Friday before the week when Nebraska regulators were to announce their decision on Keystone XL. Despite this, the watchdogs approved the second pipeline project, although they requested a change of the route.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment
  • Phil on November 28 2017 said:
    Does anyone else feel like the timing of this latest "leak" happened at a rather convenient time for the anti-pipeline supporters?

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News