Oil & Gas Product News Logo

Trump affirms continued support for Keystone XL

The president's action today clarifies the national importance of Keystone XL and aims to bring more than 10 years of environmental review to closure.
The president's action today clarifies the national importance of Keystone XL and aims to bring more than 10 years of environmental review to closure.

Company info

450 - 1 Street SW
Calgary, AB
CA, T2P 5H1

Website:
transcanada.com

Read more

TransCanada Corporation thanked U.S. President Donald Trump for affirming his support for the Keystone XL pipeline project by issuing a new Presidential Permit.

The president's action clarifies the national importance of Keystone XL and aims to bring more than 10 years of environmental review to closure.

"President Trump has been clear that he wants to create jobs and advance U.S. energy security and the Keystone XL pipeline does both of those things," said Russ Girling, TransCanada's president and chief executive officer. "We thank President Trump for his leadership and steadfast support to enable the advancement of this critical energy infrastructure project for North America."

"The magnitude of the work on this project has been extensive. The Keystone XL pipeline has been studied more than any other pipeline in history and the environmental reviews are clear - the project can be built and operated in an environmentally sustainable and responsible way," added Girling.

Keystone XL will create thousands of jobs and deliver economic benefits across North America while being the safest, most efficient and environmentally sound way to move crude oil to the U.S. Gulf Coast.

More from Pipelines

Changes to Bill C-69 will limit future major pipeline development: CEPA

The Canadian Energy Pipeline Association (CEPA) is deeply disappointed by the federal government's decision to reject critical amendments to Bill C-69, which were the result of extensive, open and honest consultations with Canadians from coast-to-coast-to-coast. Those consultations, along with a comprehensive review of the Bill by the Senate, led to nearly 200 amendments which the government has, in large part, ignored. The changes that have been made are marginal and do not go far enough to provide certainty and decrease risks for project proponents and investors.

TC Energy to sell Northern Courier pipeline for $1.15 billion

TC Energy Corporation has entered into an agreement to sell an 85 per cent equity interest in Northern Courier Pipeline to Alberta Investment Management Corporation (AIMCo). In conjunction with the sale, TC Energy also expects that Northern Courier Pipeline will undertake a financing of long-term, non-recourse debt, the proceeds of which are expected to be fully distributed to TC Energy. Both transactions are expected to close in the third quarter of 2019, with the equity sale contingent on the debt financing and subject to closing adjustments along with customary regulatory approvals. The 90 km (56 mile) pipeline system transports bitumen and diluent between the Fort Hills mine site and Suncor Energy's terminal located north of Fort McMurray, Alberta. The resulting aggregate gross proceeds to TC Energy are projected to be approximately $1.15 billion.

CAPP pleased by Court of Appeal decision on Trans Mountain expansion

The Canadian Association of Petroleum Producers (CAPP) is pleased the British Columbia Court of Appeal has reaffirmed that no one province has the authority to shut down construction of the Trans Mountain expansion pipeline (TMEP). The future of TMEP now rests with the Government of Canada to ensure construction begins immediately following the completion of consultations on June 18, 2019. 

free-paper-airplane

Get our newsletter

Learn more

CAPP encouraged by UCP commitment to oil and gas after Alberta win

The Canadian Association of Petroleum Producers (CAPP)has congratulated Jason Kenney and the United Conservative Party on its victory in the 2019 Alberta election. CAPP urged Albertans to vote with energy in mind, at the polls. And its Alberta Energy Platform advocated for a government focused on making Alberta one of the most attractive places in the world for oil and natural gas investment. There are many challenges facing the industry and CAPP made action-oriented recommendations focused on market access, regulatory competitiveness, climate policy, and fiscal and economic policy. 

Single Phase Power Solutions introduces single phase pump solutions

Single Phase Power Solutions (SPPS), the world's only manufacturer of high horsepower single phase electric motors, introduces single phase pump solutions which do not require a phase converter or Variable Frequency Drive (VFD).  The company incorporates their Belle Single-Phase Motor which uses Written-Pole technology to deliver up to 100 hp to power standard suction end centrifugal pumps, rotary gear pumps, and turbine pumps in both horizontal and vertical configurations.  

Seven different types of check valves available from Val-Matic

Did you know Val-Matic has seven different types of check valves? Val-Matic's Check Valves include the Dual Disc, Foot Valve, Silent Check, Swing Check, Swing-Flex, Surgebuster, and Tilted Disc which are highly engineered to provide long life and trouble-free performance to meet the valve needs of its customers.  Engineers weigh the importance of slamming characteristics as one of the factors when selecting a check valve. 

Business groups and others welcome B.C. legislation to remove barriers for LNG

Local mayors, First Nations, trades and business are applauding measures by the British Columbia government that will officially remove barriers and create a level playing field for the liquefied natural gas (LNG) industry and realize the opportunity for British Columbians to add value to our natural gas. This new industry will create thousands of new jobs, trades apprentices, contractor opportunities across B.C. and new revenue for local, provincial and federal governments.

free-magazine-subscription

Get Our Magazine

Paper or Digital delivered monthly to you

Subscribe or Renew Learn more

Pembina Pipeline Corporation launches new partnership with Ducks Unlimited Canada

A landmark gift from Pembina Pipeline Corporation is ensuring working landscapes across the Canadian Prairies also work for conservation. Its $1-million investment in Ducks Unlimited Canada's (DUC) Revolving Land Conservation Program will protect approximately 2,000 acres (809 hectares) of important wetland habitat. At the same time, communities across Alberta and Saskatchewan will profit from a host of environmental benefits. 

Pembina reports record annual results in 2018

Pembina Pipeline Corporation has announced its financial and operating results for the fourth quarter and full year 2018. Pembina delivered strong 2018 financial and operational results leading to record full year earnings and Adjusted EBITDA. These results were largely driven by the full-year contribution from assets included in the acquisition of Veresen Inc. in October 2017 and assets placed into service following a large-scale capital program, driving growing revenue volumes. Highlights for the fourth quarter and full year 2018 include:

  • Fourth quarter and full year earnings of $368 million and $1.3 billion, a 17 percent decrease and 45 percent increase, respectively, over the same periods in 2017;
  • Cash flow from operating activities of $674 million for the fourth quarter and $2.3 billion in 2018, increases of 29 percent and 49 percent, respectively, over the same periods in 2017. Adjusted cash flow from operating activities increased by nine percent and 54 percent to $543 million and $2.2 billion in the fourth quarter and full year 2018, respectively, compared to the same periods in 2017;
  • On a per share (basic) basis, cash flow from operating activities for the fourth quarter and full year 2018 increased by 28 percent and 26 percent, respectively, compared to the same periods in the prior year. On a per share (basic) basis, adjusted cash flow from operating activities for the fourth quarter increased eight percent and 31 percent for the full year compared to the same periods of the prior year;
  • Fourth quarter and full year operating margin of $800 million and $3.2 billion, were seven percent and 64 percent higher, respectively, than the same periods of the prior year; and
  • Fourth quarter and full year Adjusted EBITDA of $715 million and $2.8 billion, representing six percent and 67 percent increases, respectively, over the same periods in 2017.
free-paper-airplane

Get our newsletter

Learn more

Operations strong but challenging Canadian industry knocks Cenovus for net loss in 2018

Cenovus Energy Inc. delivered strong operating performance in 2018 but took a financial hit in the process, the company reported in its year-end results release. While solid production continued across Cenovus operations, a $1.3 billion loss in the fourth quarter pushed it to a net loss of $2.9 million for the year.

Pembina approves Phase VIII of Peace Pipeline Expansion

Pembina Pipeline Corporation has approved an additional expansion of its Peace Pipeline system, which will accommodate incremental customer demand in the Montney area by debottlenecking constraints, accessing downstream capacity, and further enhancing product segregation on the system. Phase VIII has an estimated capital cost of approximately $500 million and is supported by 10-year contracts with significant take-or-pay provisions. Phase VIII is anticipated to be placed into service in stages starting in 2020 through the first half of 2022, subject to regulatory and environmental approvals.

T.D. Williamson introduces 4-inch inspection tool for small diameter, low pressure pipelines

T.D. Williamson (TDW) has commercialized a 4-inch magnetic flux leakage (MFL) + deformation (DEF) + internal versus external discrimination (IDOD) tool that helps ensure pipeline integrity by detecting pitting and general corrosion as well as interacting features such as dents with metal loss in small diameter, low pressure pipelines.   

TransCanada plans name change to TC Energy

TransCanada Corporation has announced its intention to change its name to TC Energy to better reflect the scope of the company's operations as a leading North American energy infrastructure company. TransCanada's shareholders will be asked to approve a special resolution to change the name at the company's next Annual and Special Meeting of Shareholders.

Demand to drive Canadian oil prices higher in 2019: Deloitte

Prices for Canadian heavy and light oil should improve somewhat in 2019 because of increased demand from refineries in the United States, improving transportation capacity and mandatory productions cuts in Alberta, according to Deloitte's Resource Evaluation and Advisory (REA) group. In its latest report, Deloitte says these factors should begin to reduce the current oversupply of Canadian oil and help narrow the larger-than-usual differentials with WTI prices that were present in the final quarter of 2018.

Quebecers prefer oil from Western Canada

In the wake of Quebec Premier Francois Legault's recent statements about Alberta oil, which have sown discontent in Western Canada, a Leger poll conducted for the MEI shows that a large majority of Quebecers prefer to get oil from Western Canada than from anywhere else in the world.

Tidewater announces TransAlta ownership interest in Pioneer pipeline

Tidewater Midstream and Infrastructure Ltd. has announced that TransAlta has exercised its option to acquire a 50 percent ownership interest in the Pioneer pipeline connecting the Tidewater owned Brazeau River Complex to TransAlta's generating units in the Keephills and Sundance area. Tidewater will construct and operate the 120 km natural gas pipeline, with an 11km lateral connecting to Sundance, which will have an initial throughput of 130 MMcf/d with the potential to expand to approximately 440 MMcf/d.  The project is supported by a 15 year take or pay commitment from TransAlta.  TransAlta's investment will be approximately $90 million.  Construction of the 120km pipeline commenced last month and is expected to be fully operational by the second half of 2019. TransAlta's investment is subject to final regulatory approval of the lateral and licence transfers from Tidewater to the partnership.

free-magazine-subscription

Get Our Magazine

Paper or Digital delivered monthly to you

Subscribe or Renew Learn more