• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 8 hours One Last Warning For The U.S. Shale Patch
  • 59 mins Once Upon A Time... North Korea Abruptly Withdraws Staff From Liaison Office
  • 6 hours Oil Slips Further From 2019 Highs On Trade Worries
  • 3 hours Chile Tests Floating Solar Farm
  • 4 hours Poll: Will Renewables Save the World?
  • 2 hours Modular Nuclear Reactors
  • 13 hours China's E-Buses Killing Diesel Demand
  • 9 hours China's Expansion: Italy Leads Europe Into China’s Embrace
  • 13 hours Trump sells out his base to please Wallstreet and Oil industry
  • 24 hours Russian Effect: U.S. May Soon Pause Preparations For Delivering F-35s To Turkey
  • 23 hours Trump Tariffs On China Working
  • 1 hour US-backed coup in Venezuela not so smooth
  • 7 hours New Rebate For EVs in Canada
  • 22 hours Biomass, Ethanol No Longer Green
Morgan Stanley: Oil To Rise To $75 This Summer

Morgan Stanley: Oil To Rise To $75 This Summer

Investment bank Morgan Stanley sees…

Asian LNG Prices Hit Three-Year Lows

Asian LNG Prices Hit Three-Year Lows

Spot prices for LNG in…

TransCanada Requests Suspension Of Oil Pipeline

Pipeline

TransCanada has asked for a 30-day suspension of its application for the Energy East pipeline that should transport crude oil from Alberta and Saskatchewan to the eastern part of Canada. According to the company, it wants to review the National Energy Board’s August decision to toughen the pipeline project assessment procedure.

In a statement, TransCanada suggested it might shelve the project overall if the new assessment procedure turns out to be too taxing on costs, schedule, and the viability of the project. NEB said it will decide on the request “in a timely manner”.

The decision of the watchdog to make rules tougher for oil and gas infrastructure builders earned it the praise of environmentalists but drew criticism from the industry, as was to be expected. For Energy East, this is yet another major setback, after last year some members of a panel overseeing the hearings on the project at NEB resigned over allegations of a conflict of interest.

At the start of this year, the regulator canceled all decisions the panel had made over the last two years and appointed a new one. At the same time, NEB itself is under intense scrutiny on criticism that it is playing in the oil industry’s field.

The US$13billion (C$15.7 billion) Energy East was planned to carry 1.1 million barrels of crude daily over 4,500 km to refineries in Eastern Canada and an export terminal in New Brunswick. The project is part of a response to the growing oil output in the oil sands that is putting a strain on the existing pipeline network in the country. This response is meeting with solid opposition from environmentalists and some local governments, such as that of British Columbia, which recently said it will do its best to block the expansion of another pipeline, Kinder Morgan’s Trans Mountain.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Gorsky on September 08 2017 said:
    Trudeau insists it's safer to transport oil by rail.
    Because oil will move - with or without Trudeau.
  • Tom on September 08 2017 said:
    Looks like Canada has their own way to help rebalance the oil market, eh?

Leave a comment

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