• 3 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 5 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 9 minutes This Battery Uses Up CO2 to Create Energy
  • 12 minutes Shale Oil Fiasco
  • 47 mins Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 33 mins We're freezing! Isn't it great? The carbon tax must be working!
  • 2 days US (provocations and tech containment) and Chinese ( restraint and long game) strategies in hegemony conflict
  • 13 hours Let’s take a Historical walk around the Rig
  • 7 hours Beijing Must Face Reality That Taiwan is Independent
  • 22 hours Trump has changed into a World Leader
  • 23 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 41 mins Governments that wasted massive windfalls
  • 22 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 2 days Might be Time for NG Producers to Find New Career
  • 3 days Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 3 days Indonesia Stands Up to China. Will Japan Help?
Alt Text

Bankruptcies In U.S., Canadian Oil Jump 50% In 2019

Bankruptcies among U.S. and Canadian…

Alt Text

Why Did Haftar Turn Libya’s Oil Off?

General Haftar is in the…

Jen Alic

Jen Alic

 

More Info

Premium Content

TransCanada Might Rethink Potential Keystone Launch Date

TransCanada Corp. (TRP) was hoping to launch Keystone XL during the second half of 2015, but the company is now conceding that this will be challenging given the pace of the approval process, which is still waiting on a final environmental impact statement from the US State Department.

According to Bloomberg, the State Department could issue its final impact statement within weeks, but after that there will be a 90-day review of the project to determine whether it is in national interests.

TransCanada is hoping that it will see approval before the end of the year. But even in this best-case scenario, the target launch date for construction in mid-2015 will be difficult to meet. TransCanada will require 24 months for construction of the pipeline.

Meanwhile, US investors are getting rid of shares in oilsands companies like Canadian giant Suncor Energy Inc. (SU)—which has fallen over 8% in three years--because there aren’t enough pipelines to deliver, which has in turn has depressed Canadian crude prices, according to Bloomberg.

Oilprice.com Premium: Get the same inside information as the CEOs of Exxon, Chevron and BP - as fast as they get it, often before they get it

As the process for approving Keystone XL nears the finish line, a number of issues are gaining momentum—not least speculation that Keystone’s approval would cause a spike in US gas prices--and the Quebec train crash doesn’t help TransCanada’s case.

A new report by the non-profit Consumer Watchdog says that if $5.3 billion Keystone XL is built, gas prices in some parts of the country could rise by as much as 40 cents per gallon. The rationale is that because oil extracted in Canada would bypass traditional US markets by going through the pipeline to the Gulf Coast and then to tanker ships diverted to international markets where it will be old for higher prices.

By. Jen Alic of Oilprice.com




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play