• 4 minute Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 8 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 15 minutes Oil prices going down
  • 50 mins Oil prices going down
  • 17 mins Could oil demand collapse rapidly? Yup, sure could.
  • 1 hour Migrants: Italy Wants EU Border Agency In Africa, Not At Sea
  • 5 hours Sabotage at Tesla
  • 13 hours Oil and Trade War
  • 25 mins Trump Hits China With Tariffs On $50 Billion Of Goods
  • 12 hours Germany Orders Daimler to Recall 774,000 Diesel Cars in Europe
  • 15 hours Sell out now or hold on?
  • 15 hours Russia and Saudi Arabia to have a chat on oil during FIFA World Cup - report
  • 1 hour After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
  • 10 hours What If Canada Had Wind and Not Oilsands?
  • 9 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 1 hour The Irrelevance Of BTU Rating - Big Oil's Gimmick To Hoodwink The Public
  • 1 hour Nopec Sherman act legislation
  • 13 hours venezuala oil crisis
  • 13 hours When will oil demand start declining due to EVs?

Breaking News:

Nigeria Struggles To Sell Its Crude

Shale Shifts Attention To This ‘Forgotten’ Oil Play

Shale Shifts Attention To This ‘Forgotten’ Oil Play

As the Permian becomes overcrowded,…

Shale Drillers’ $7 Billion Hedging Error

Shale Drillers’ $7 Billion Hedging Error

The rebound in oil prices…

Pipeline Leak Spills Crude in North Saskatchewan River

Pipelines Canada

Canadian media are quoting oil and gas company Husky Energy as having told authorities that a leak from a pipeline has spilled between 200,000 and 250,000 litres of crude into the North Saskatchewan River. The leak has now been stopped with the pipeline shut down.

The company then deployed an emergency team and contained the spill with berms. The town nearest to the leak is Maidstone, about 220 km northwest of Saskatoon. Currently, the company and the authorities are building another berm downstream. Samples form the water are being taken regularly, and cleaning efforts are underway in hopes of containing the spill before it reaches the town of North Battleford, which draws its water from this river.

A spokesman for Husky Energy was quoted by CBC as saying the pipeline carried heavy crude from Husky’s fields to the company’s processing facility in Lloydminster. The heavy crude was mixed with a diluent, a hydrocarbon to ease the flow of the heavy crude.

Husky Energy is set to announce its second-quarter earnings results today. Analysts expect it to book a loss of US$0.20 per share. Like its peers, the Canadian company has been battling the fallout of the oil price crisis, selling assets and suspending its dividend earlier this year. Now, according to some observers, the company may restart dividend payments. Over the first half of the year, Husky sold US$1.14 billion worth of pipelines, plus assets in southwestern Saskatchewan worth US$454 million and a portfolio of royalty-carrying land property worth US$124 million.

Earlier this month, the company reported a new partnership with two other firms, which generated US$1.7 billion in proceeds. The partnership, called Husky Midstream Limited Partnership, includes Husky with 35 percent, Hong Kong-based Power Assets Holdings with 48.75 percent, and Cheung Kong Infrastructure Holdings with 16.25 percent. The new entity will operate some Husky’s midstream assets in the region of Lloydminster.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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