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TransCanada Corporation (TRP)

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  • Nov. 4, 2013, 11:19 AM
    • Alberta won’t raise its levy on greenhouse gas emissions unless the U.S. acts on the issue, says Premier Alison Redford, heading to Washington soon to lobby for U.S. approval of the Keystone XL pipeline (TRP -0.3%).
    • Redford says she would discuss the existing C$15/metric ton ($14.40) the province levies on carbon from emitters that don’t meet greenhouse gas reduction targets.
    • "If Keystone XL doesn’t get approved, it will have an impact on U.S.-Canada relations," Redford adds.
    | 3 Comments
  • Oct. 30, 2013, 2:34 PM
    • A frustrated TransCanada (TRP +0.2%) CEO Russ Girling says approval of the Keystone XL pipeline project has been "hijacked by activists opposed to the development of all fossil fuels," but he says the company remains committed to the project.
    • Girling, who met with State Department officials about Keystone yesterday, is irritated with the five-year review by U.S. regulators, saying TRP has done "everything that could possibly be asked," and adding that the process for evaluating cross-border energy projects must change.
    • He says the project would continue even if Pres. Obama eventually decides against approving the route, but doesn't specify exactly how that could be achieved.
    | 3 Comments
  • Oct. 29, 2013, 12:47 PM
    • Brad Wall, premier of resource-rich Saskatchewan and one of Canada’s most influential politicians, says he isn’t nearly as bullish on prospects for the Keystone XL (TRP +0.2%) pipeline as he once was.
    • Wall’s initial level of optimism was based on conversations with U.S. officials following a trip in March, "but what was completely unexpected... was [for] the President to discount the economics of the pipeline," most notably in a July NYT interview.
    • "So if I was a seven or eight on the optimism scale, I probably would be half that right now,” Wall says.
    | 6 Comments
  • Oct. 25, 2013, 10:49 AM
    • Enbridge’s (ENB -1%) Northern Gateway stands the least chance of being approved among all of Canada's proposed pipelines, analysts tell a Financial Post panel discussion.
    • TransCanada's (TRP) Energy East and Kinder Morgan’s (KMI, KMP) Trans Mountain are most likely, with the latter benefiting from having built the loop through Jasper before pipeline opposition escalated, one participant says.
    • Another believes that a rejection of the Keystone XL pipeline would not slow down Canadian oil production, given the other pipeline options and growing crude-by-rail shipments, but rejection would mean rising transportation costs.
    | 6 Comments
  • Oct. 23, 2013, 5:56 PM
    • Foes of the Keystone XL pipeline (TRP) say they will launch an America-wide sit-in should the U.S. State Department recommend Pres. Obama approve the project.
    • Activist groups say they have convinced ~76K volunteers to sign a "pledge to resistance," joining anti-nuclear protesters and others who have used sit-ins and other forms of non-violent protest over the years to bring publicity.
    • Even some pipeline supporters say the network of activists pushing Obama to block Keystone appear to be having an impact.
    | 9 Comments
  • Oct. 19, 2013, 8:25 AM
    • Canada's government will spend $24M promoting its oil sands in the next two years, but that's a drop in the bucket compared to U.S. environmental groups who are raising up to $400M/year, Financial Post's Claudia Cattaneo writes.
    • Defeating the Keystone XL pipeline (TRP) is at the top of the activists' agenda, and the industry that thinks it can merely promise to make the oil sands a little cleaner "is a bit naive about what they are up against... [environmentalists] want to see some scalps."
    | 65 Comments
  • Oct. 18, 2013, 10:44 AM
    • TransCanada (TRP +1.2%) resumes gas deliveries to most industrial customers after yesterday's pipeline rupture in northern Alberta left some Canadian oil producers scrambling to scale back production.
    • Imperial Oil's (IMO +0.4%) Kearl oil-sands project, Canadian Natural Resources' (CNQ +0.5%) Horizon upgrader halted output, Syncrude's upgrader stopped shipping product, and Suncor's (SU +0.8%) Fort McMurray plant reduced production.
    • While TRP has resumed service on a 24-inch gas pipeline that’s part of the corridor system, the 36-inch line that ruptured remains shut and will remain out of service until Canada's National Energy Board approves it to restart.
    | Comment!
  • Oct. 17, 2013, 2:06 PM
    • TransCanada (TRP +0.2%) says its Nova regional natural gas pipeline serving Alberta's Athabasca oil sands region may have ruptured.
    • Staff are trying to confirm the location of the break, which is affecting line pressures in the Fort McMurray oil sands region, TRP says.
    • Suncor Energy (SU) is slowing operations in northern Alberta following the leak; SU's oil sands production totals ~309K bbl/day.
    • Royal Dutch Shell (RDS.A, RDS.B), Cenovus Energy (CVE) and Imperial Oil (IMO) are among other operators in the region.
    | 1 Comment
  • Oct. 17, 2013, 11:59 AM
    • The Bakken shale, already producing a hefty ~910K bbl/day of oil, ultimately will produce up to 2M bbl/day, Continental Resources (CLR -0.2%) CEO Harold Hamm tells the Bloomberg Oil & Gas Conference.
    • Hamm does not believe the new abundance of U.S. oil will result in a crash in prices as has happened with natural gas, expecting crude to remain in the $90-$100 range for the foreseeable future.
    • He also believes the chances that the controversial Keystone XL (TRP +0.2%) pipeline will ever be built are rapidly dwindling.
    | 2 Comments
  • Oct. 16, 2013, 4:45 PM
    • TransCanada (TRP) expects a U.S. ruling on the Keystone XL pipeline in Q1 2014 after a final environmental impact statement from the State Department this fall, says the head of the company's energy and oil pipelines.
    • The project has become a lightning rod for environmental opponents seeking to slow oil sands development, so U.S. mid-term elections next year pose a larger threat to a Keystone decision than the government shutdown.
    | 2 Comments
  • Oct. 16, 2013, 12:26 PM
    • Continental Resources (CLR +3.2%) CEO Harold Hamm holds out the possibility that the Keystone XL pipeline could become a more attractive project if TransCanada (TRP +0.8%) would agree to carry a greater percentage of domestic U.S. oil instead of Canadian crude, and says CLR would be open to talks to help the project achieve that aim.
    • The 800K bbl/day pipeline is planned to take only 100K bbl/day of oil from the Bakken oil fields; CLR has a contract for to take ~35K bbl/day of its Bakken oil.
    • Hamm reiterates that if TRP sticks to its current projections of carrying 700K bbl/day oil sands petroleum the pipeline is not crucial for his company.
    | 3 Comments
  • Oct. 10, 2013, 7:22 PM
    • U.S. corporate heavyweights including GE's Jeffrey Immelt, AT&T's Randall Stephenson and Boeing's James McNerney - not the usual Big Oil suspects - are among 165 top business leaders who expressed strong support for approval of the Keystone XL pipeline (TRP) in an Oct. 9 letter to Pres. Obama.
    • The business leaders say the U.S. economy is at an inflection point, and whether growth remains modest or picks up speed depends on maintaining investor confidence and strengthening America’s competitiveness; they say the decision on Keystone will affect both.
    • The sentiment may raise the stakes for Obama, who is expected to decide early in 2014 whether to allow the project.
    | 22 Comments
  • Oct. 7, 2013, 3:21 PM
    • Exxon Mobil (XOM -0.1%), BP (BP -0.1%), ConocoPhillips (COP +0.1%) and TransCanada (TRP +0.2%), seeking to advance a multibillion dollar natural gas pipeline project in Alaska, select the Kenai Peninsula town of Nikiski as the leading site for the terminal.
    • The news is seen as a significant step in the decades-old dream of building a natural gas pipeline to rival that of the trans-Alaska oil pipeline, but the companies haven't yet committed to building the pipeline, which could cost $65B or more.
    | Comment!
  • Oct. 7, 2013, 8:44 AM
    • Malaysia's state oil firm Petronas plans to spend $35B to develop shale gas assets in Canada and build a liquefied natural gas export terminal linking the country to Asian markets.
    • Petronas had previously said it would spend $20B to build two LNG trains on Canada's west coast, including a pipeline to be built by TransCanada (TRP) from fields in the shale-rich Montney region; the trains are expected to be ready by 2018 or 2019.
    • Petronas is in talks to sell stakes in the entire project to potential LNG buyers and has finalized one such deal with Japex (JPTXF.PK).
    • ETF: EWM.
    | 1 Comment
  • Oct. 4, 2013, 7:44 AM
    • TransCanada (TRP) will delay filing an application for its proposed Energy East Pipeline with Canada's National Energy Board until next year, saying there's too much work to do to be able to meet its initial goal of filing the application for the $12B project before the end of this year.
    • TRP says it has heard a variety of concerns with the route as it holds open house public meetings across the country.
    • The 4,500-km pipeline would ship up to 1.1M bbl/day of oil from Alberta to refineries and export terminals in Quebec and New Brunswick.
    | 1 Comment
  • Oct. 2, 2013, 2:29 PM
    • TransCanada (TRP -0.4%) says the southern leg of the controversial Keystone XL pipeline project is 95% complete, although it won't start carrying oil until after October.
    • The pipeline's progress is positive for West Texas crude prices because rumors had been going around that the project could be delayed; WTI rose as much as 1.8%, reversing an earlier decline, after the news broke.
    • The line is expected to speed the decrease of crude stockpiles at the Cushing, Okla., hub; supplies at Cushing fell to 32.8M barrels last week, the 13th straight weekly decline and lowest level since Feb. 2012, as new railroads and pipelines continue to reduce the surplus of oil in the region and transport it to refiners on the Gulf coast.
    • ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI.
    | 1 Comment
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Company Description
TransCanada Corporation is an energy infrastructure company. The Company operates in three business segments: Natural Gas Pipelines, Liquid Pipelines and Energy.
Sector: Utilities
Industry: Gas Utilities
Country: Canada