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It is aptly ‘National Puzzle Day‘ today, and the crude complex is responding accordingly and puzzlingly rallying like a mad thing, despite the weak fundamental backdrop and a super-strong dollar. This upside also comes despite the seeming repudiation of a production cut meeting next month; Russia’s energy minister Alexander Novak said they had been approached […]
The National Energy Board has come under fire recently as it grapples with about $18 billion in new proposed, controversial pipelines carrying oil sands crude.
Saboteurs represent the latest hassle Western Canada faces in getting its crude to coastal markets as plans to build new pipelines are stymied by environmental and legal challenges.
Kinder Morgan’s Trans Mountain project would nearly triple pipeline capacity from 300,000 to 890,000 barrels of crude oil a day. It would carry oil from Alberta’s oil sands to the Vancouver area to be loaded on to barges and tankers for Asian and U.S. markets.
The talks are seen as a sign of more consolidations occurring in the struggling oil field services sector that is hit the hardest by the sharp downturn in oil prices, analysts said.
Kinder Morgan plans to almost triple the Trans Mountain line’s capacity to 890,000 barrels a day.
Suncor has said it may walk away from the $3.1 billion bid if Canadian Oil Sands shareholders turn it down.
A judge has thrown out a lawsuit challenging a Nebraska law that allowed the Nebraska governor to approve the proposed Keystone XL oil pipeline route through the state.
The quarter ended with a monthly contraction of 0.5 percent for September, the largest since March 2009, as fires and maintenance shutdowns interrupted oil production.
The liquefied natural gas project would be one of the largest of its kind, with an 800-mile pipeline, a gas treatment plant and transmission lines connecting to gas fields, and a liquefaction plant and export terminal.