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TransCanada Corporation

6/19/2013, 3:29 AM ET

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Tuesday, June 18, 6:43 PM Even if the U.S. approves the Keystone pipeline (TRP), analysts say it won't be enough to sop up Canada's oil glut and would only temporarily alleviate the lack of pipeline infrastructure, meaning Canadian crude oil probably will remain the cheapest in the world. But a decision blocking Keystone would make the problem worse, reducing spending on oil sands projects by ~$9.4B during 2014-17. 3 Comments [Energy]
Tuesday, June 18, 5:20 PM TransCanada (TRP), which says Keystone XL will be the safest pipeline ever built, isn’t planning to use infrared sensors or fiber-optic cables to detect spills along the system’s 2,000-mile path to Texas refineries from fields in Alberta, Bloomberg reports. The pipeline would have to be spilling more than 12K bbl/day before its currently planned internal spill-detection systems would trigger an alarm. 4 Comments [Energy]
Monday, June 17, 10:59 AM A 50% cut in Petrominerales' (PMGLF.PK) market value has left its equity and net debt valued at the cheapest multiple to profit among any oil and gas explorer in the world with a market value higher than $250M, according to Bloomberg, which speculates its reserves, estimated at 40M-plus barrels of mostly high-quality light oil, could attract suitors such as Enbridge (ENB), TransCanada (TRP) or Pacific Rubiales (PEGFF.PK). 3 Comments [Energy, M&A]
Thursday, June 13, 11:35 AM TransCanada (TRP) expresses its disappointment that Canada's National Energy Board again rejected its proposals on how it can charge customers to ship natural gas across the country, and says it may launch an appeal. TRP said the first rejection, in March, created a new model for tolls of its Mainline pipeline network that was a departure from the regulatory framework that had been in place for decades. Comment! [Energy]
Tuesday, June 11, 5:52 PM "There hasn't been a delay" in making a decision about the Keystone oil pipeline (TRP), the U.S. State Department says; it's just following the regulatory process as it assesses more than 1M comments: "This isn’t a question of delay, it is a question of following our regulation and ensuring that we have due diligence as required by both law and regulation." 3 Comments [Energy]
Tuesday, June 11, 8:56 AM Malaysian national oil company Petronas says it expects to spend ~$15B to build a liquefied natural gas export facility in western Canada. The project, known as Pacific NorthWest LNG, will build two liquefaction plants of 6M tons/year each by 2018 or 2019. Another $5B will be invested in a 750 km pipeline to be built by TransCanada (TRP), to supply gas to the two plants. Comment! [Energy]
Friday, June 7, 5:05 PM British Columbia's opposition to the Northern Gateway (ENB) pipeline shifts focus to a potential pipeline to eastern Canada, Alberta Premier Alison Redford tells legislators in New Brunswick, where the premier is a backer of TransCanada's (TRP) idea of converting an existing natural gas pipeline to carry crude into Quebec with a potential extension to the Atlantic which could ship ~850K bbl/day of oil by late 2017. 5 Comments [Energy]
Thursday, June 6, 9:58 AM Canada’s crude output will more than double to 6.7M bbl/day by 2030, provided new pipelines such as Keystone XL (TRP) are built to transport growing oil sands production, the Canadian Association of Petroleum Producers says. Keystone is critical because the space available to transport Alberta’s rising output via rail and pipelines, such as Enbridge’s (ENB) Mainline, is already tight, the group says. Comment! [Energy]
Tuesday, June 4, 4:57 PM The wrangling over the Keystone pipeline (TRP) is starting to look puny vs. other obstacles Canadian oil sands face, including Latin American competition, retrofitting Gulf of Mexico refineries to process lighter crude from elsewhere, and B.C.'s rejection of the Northern Gateway pipeline (ENB). To push Alberta’s oil sands production to the anticipated 3M bbl/day, "another strategic pipeline option will be needed," Eurasia Group says. 9 Comments [Energy]
Friday, May 31, 10:47 AM It's widely known that the U.S. State Department must approve the Keystone pipeline but an OK also is required from the Fish & Wildfire Service, which this month said the proposed route may endanger the American burying beetle. TransCanada (TRP) will have to trap and relocate the one-inch beetles, using frozen rats that have thawed a bit for maximum pungency. CEO Russ Girling says the company will do whatever it takes. 9 Comments [Energy]
Tuesday, May 28, 12:47 PM A cancellation or continuing delay of the Keystone XL pipeline (TRP) could endanger more than $9B of oil sands investment over the next seven years, RBC says, with U.S. construction, engineering and project management companies affected more than Canadian contractors since most of the pipeline is being constructed in the U.S. 2 Comments [Energy]
Saturday, May 25, 8:25 AM Reuters’ Robert Campbell thinks Keystone XL (TRP) has become a victim of political posturing and says a rival plan, ETP's Trunkline, is being held to a far lower standard thanks to an incoherent U.S. environmental policy. But if a pipeline isn’t built, crude will move by more carbon intensive methods that also are susceptible to accidents. Indeed, moving oil by road or rail is no longer seen as a stopgap until pipelines are built. 22 Comments [Energy]
Friday, May 24, 5:54 PM The U.S. State Department takes the unusual step of releasing publicly the feedback it received about the controversial Keystone XL pipeline (TRP) in response to its draft environmental report. Well represented in the first batch of ~1.2M total comments are green groups like Tar Sands Action and the Sierra Club as well as advocacy groups like Americans for Tax Reform and the Institute for Energy Research. 7 Comments [Energy]
Thursday, May 23, 11:46 AM While controversy continues over the northern leg of the Keystone XL pipeline, construction of the $2.3B southern section connecting the Cushing, Okla., hub with the Texas coast is more than 75% complete and proceeding on schedule, TransCanada (TRP -0.7%) says. The 485-mile southern leg will be able to move 700K bbl/day of oil when completed. 1 Comment [Energy]
Thursday, May 23, 7:55 AM The Republican-controlled House last night approved a bill saying a presidential permit was not needed to approve the Canada-to-Nebraska leg of the Keystone XL pipeline (TRP), but the vote may have emboldened opposition, as 50 fewer Democrats backed the bill than a similar one a year ago. The bill's fate in the Senate is uncertain, and Pres. Obama has promised a veto. 5 Comments [Energy]
Saturday, May 18, 8:25 AM Refining Canada’s oil sands produces petroleum coke, called "the dirtiest residue from the dirtiest oil on earth." It's piling up along the Detroit River, NYT reports, thanks to a Marathon Petroleum refinery that began refining Canadian oil sands in November. Detroit’s pile will not be the only one. Canada’s efforts to sell more products from oil sands to the U.S., which include transporting it through the proposed Keystone pipeline, are pulling more coking south to U.S. refineries, creating more waste product. 21 Comments [Energy]

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