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TransCanada (TRP) to Finish Southern Portion of Keystone XL by October

By  +Follow October 3, 2013 12:37PM
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TransCanada Corp. (TRP) said on Thursday that the southern portion of its massively unpopular Keystone XL pipeline would be completed by the end of the end of the month, and will begin transporting oil within 30 days.

The Gulf Coast portion of the pipeline will carry oil from Cushing, Oklahoma, the physical delivery location for West Texas Intermediate contracts traded on the NYMEX, to Nederland, Texas.

TransCanada has been working on the Gulf Coast pipeline, which has a projected capacity of over 800,000 barrels per day, for over a year now. The $2.3 billion project constitutes one third of the overall Keystone XL gambit, which has been in limbo since meeting stiff resistance from communities on both sides of the US-Canada border.

Despite TransCanada’s promises of the ostensible jobs that could be created as a result of the pipline’s construction, as well as guarantees about environmental safety, many residents of towns and cities along the northern portion of the Keystone route have concerns about the notoriously dirty tar sands oil that it would transport from Canada all the way down to the Gulf of Mexico for export.

Furthermore, while TransCanada and other supporters of the project have consistently tried to reassure its detractors by claiming that oil prices would drop across the Midwestern US as a result, it is not even clear if the company’s executives actually believe this themselves.

Indeed, it is no secret that one of the main goals of the pipeline is to increase demand for Canadian crude oil, and raise prices high enough to be competitive with Mexican and US crudes that also ship out of the Gulf Coast.

The US portion of Keystone XL has been under review for some six years now, with President Barack Obama having nixed the project last year amid enormous pressure from both supporters and opponents of the pipeline.

While the announcement could be considered somewhat of a victory for the Canadian gas utility, TransCanada admits that any construction in the absence of the full route would be relatively pointless. Company spokesman Les Cherwenuk told Bloomberg that “If something were to occur, then you build a smaller pipeline, but at this point in time, just building Keystone XL based on Bakken contract supplies is not attractive.”

Shares for TransCanada were down 1.35 percent to $43.13 heading in to Thursday’s close.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for trp
4-traders.com
26 Nov 14 16:25:04
TransCanada adopts advance notice laws for director nominations http://t.co/ePGHGFhi91 $TCP $TRP $MOVE $JBK $MLP
NASDAQ
26 Nov 14 14:31:13
$TRP - Report of Foreign Issuer (6-k) http://t.co/A40hpEBoyK
Becky Hiu
26 Nov 14 14:26:55
"@Partridge: $TRP $KMI $ENB $TSO $ALJ not all energy is the same color $MLPL" Nice list, sir! Once Keystone gets passed...ahem.
4-traders.com
26 Nov 14 13:20:05
TransCanada parts ways with PR firm after campaign controversy http://t.co/RKA86K0Osf $TRP $MLMAD $AIM
Everett Martin
26 Nov 14 13:05:54
RT @the_Jeff_Jones: TransCanada, PR firm sever ties http://t.co/2iw5ZA7Ybz Here's the Edelman 'ethical and moral' statement: http://t.co/69…
NASDAQ
26 Nov 14 12:50:14
$TRP - Report of Foreign Issuer (6-k) http://t.co/7VNymKlOQy
Aaron Salus
26 Nov 14 12:04:35
RT @the_Jeff_Jones: TransCanada, PR firm sever ties http://t.co/2iw5ZA7Ybz Here's the Edelman 'ethical and moral' statement: http://t.co/69…
Shawna Rossi
26 Nov 14 11:59:51
RT @the_Jeff_Jones: TransCanada, PR firm sever ties http://t.co/2iw5ZA7Ybz Here's the Edelman 'ethical and moral' statement: http://t.co/69…
Bonnie Elgie
26 Nov 14 11:57:13
RT @the_Jeff_Jones: TransCanada, PR firm sever ties http://t.co/2iw5ZA7Ybz Here's the Edelman 'ethical and moral' statement: http://t.co/69…
Susan Krashinsky
26 Nov 14 11:54:54
RT @the_Jeff_Jones: TransCanada, PR firm sever ties http://t.co/2iw5ZA7Ybz Here's the Edelman 'ethical and moral' statement: http://t.co/69…
Jody White
26 Nov 14 11:54:31
RT @the_Jeff_Jones: TransCanada, PR firm sever ties http://t.co/2iw5ZA7Ybz Here's the Edelman 'ethical and moral' statement: http://t.co/69…
Jeff Jones
26 Nov 14 11:53:32
TransCanada, PR firm sever ties http://t.co/2iw5ZA7Ybz Here's the Edelman 'ethical and moral' statement: http://t.co/69hc70ErgA $TRP
Jameson Berkow
26 Nov 14 10:16:34
RT @JeffALewis: TransCanada, PR firm sever ties http://t.co/WpGNISdd7R $TRP
Jeff Lewis
26 Nov 14 10:15:59
TransCanada, PR firm sever ties http://t.co/WpGNISdd7R $TRP
Roadmap2Retire
26 Nov 14 06:51:05
@JohnHeinzl Great article. Read this last night. $TRP looks enticing
RickLejeune
26 Nov 14 04:58:18
Facing escalating pushback, Canada's oil sands industry goes on the offensive http://t.co/fl8thwYc6f $TRP #Stocks #Investing
FonsieTrader
26 Nov 14 04:56:28
Parabolic Sar Sell Signals 3/3 $NFLX $NYRT $P $RPTP $SABR $SHW $TK $TRP $VAL $VGR $XRS http://t.co/EfEt1NjJjA $STUDY
Sicarius
24 Nov 14 10:40:23
@deeTVee don't find anything wrong with $TRP....☺
Ticker Report
24 Nov 14 03:10:46
TransCanada Given Sector Perform Rating at Scotiabank $TRP http://t.co/rQNIcs4ZPq
InterCooler
24 Nov 14 02:38:54
TransCanada Price Target Increased to C$60.00 by Analysts at Scotiabank $TRP http://t.co/JIdphhgtoc
Sleek Money
24 Nov 14 02:37:01
TD Securities Increases TransCanada Price Target to C$62.00 $TRP http://t.co/FOJlniJ5GI
chartguy89
24 Nov 14 01:57:59
TRP 50.70 Transcananda Pipelines Stock Charts $TRP Last Updated: 11/21/14 Last price: 50.70 Total volume: 972, http://t.co/liZmrk7UUK
Jake13
24 Nov 14 00:11:32
TRP Year to date has changed +11.04% percent. +4.77% in the last 30 days. $TRP Transcananda Pipelines Full bre http://t.co/xnScZfg51Z
BillionairesPort
23 Nov 14 14:08:56
$TRP Interesting event driven options trade you can piggyback off this billionaire hedge fund
Ivan Battye
22 Nov 14 04:49:04
RT @TheStreet: #Keystone pipeline is a small part of TransCanada's massive backlog of several commercially secured projects: http://t.co/kl…
♠ Ace ♠
21 Nov 14 20:31:46
RT @TheStreet: #Keystone pipeline is a small part of TransCanada's massive backlog of several commercially secured projects: http://t.co/kl…
Alysia Sarkisian
21 Nov 14 20:31:05
RT @TheStreet: #Keystone pipeline is a small part of TransCanada's massive backlog of several commercially secured projects: http://t.co/kl…
TheStreet
21 Nov 14 20:30:40
#Keystone pipeline is a small part of TransCanada's massive backlog of several commercially secured projects: http://t.co/kl2DXALcAA $TRP
activistcorner
21 Nov 14 12:44:46
Activist investor Sandell delivers assault on TransCanada management http://t.co/t01W6pwLqE $TRP @ir_magazine
OneChicago
21 Nov 14 10:28:02
$TRP 20141219 Block Trade: 15000 trade. ~$76.5 MM notional value.
Peter Vuong
21 Nov 14 09:54:58
RT @JeffALewis: Ontario, Quebec to craft united stand on Energy East pipeline project http://t.co/CsCJBG4sF4 $TRP
Globe Investor
21 Nov 14 09:06:54
RT @JeffALewis: Ontario, Quebec to craft united stand on Energy East pipeline project http://t.co/CsCJBG4sF4 $TRP
Robin MacNab
21 Nov 14 07:56:33
RT @JeffALewis: Ontario, Quebec to craft united stand on Energy East pipeline project http://t.co/CsCJBG4sF4 $TRP
Jeff Lewis
21 Nov 14 07:55:47
Ontario, Quebec to craft united stand on Energy East pipeline project http://t.co/CsCJBG4sF4 $TRP
Steve Mahoney
21 Nov 14 04:12:24
RT @MorningstarInc: Coffina: How to Handle 5 Risks in the Market Today http://t.co/QsEdCaijcO $PM $KO $SCHW $WFC $ITC $TRP
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21 Nov 14 04:10:53
RT @MorningstarInc: Coffina: How to Handle 5 Risks in the Market Today http://t.co/QsEdCaijcO $PM $KO $SCHW $WFC $ITC $TRP
Morningstar, Inc.
21 Nov 14 04:09:36
Coffina: How to Handle 5 Risks in the Market Today http://t.co/QsEdCaijcO $PM $KO $SCHW $WFC $ITC $TRP
WKRB News
21 Nov 14 04:06:26
TransCanada Earns “Sector Perform” Rating from Scotiabank $TRP http://t.co/Rn8N9YCeWV
Ticker Report
21 Nov 14 04:02:01
TransCanada Raised to “Outperform” at Credit Suisse $TRP http://t.co/sUA2H507o2
Jake13
21 Nov 14 03:10:13
TRP Year to date has changed +11.32% percent. +7.15% in the last 30 days. $TRP Transcananda Pipelines Full bre http://t.co/qUL9EUgDUk
Jake13
21 Nov 14 03:09:48
$TRP TRP Year to date has changed +11.32% percent. +7.15% in the last 30 days. $TRP Transcananda Pipelines Full bre http://t.co/BlOYg8q1DD
InterCooler
21 Nov 14 02:46:20
TransCanada PT Raised to C$62.00 $TRP http://t.co/t3Pc4aVG8Z
The Legacy News
21 Nov 14 02:44:06
TransCanada PT Raised to C$60.00 $TRP http://t.co/3YZmYMjHtT
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21 Nov 14 02:36:25
TRP 50.83 Transcananda Pipelines Stock Charts $TRP Last Updated: 11/20/14 Last price: 50.83 Total volume: 969, http://t.co/smqB8hC6yp
chartguy89
21 Nov 14 02:36:09
$TRP TRP 50.83 Transcananda Pipelines Stock Charts $TRP Last Updated: 11/20/14 Last price: 50.83 Total volume: 969, http://t.co/fLLdgU4gaS
Paul Josaph
21 Nov 14 01:21:43
RT @Bidnessetc: TransCanada CEO dismisses detractors after the Keystone project was blocked in the US Senate http://t.co/BChsaKACgM $TRP
Ticker Report
21 Nov 14 00:29:32
TransCanada Sees Large Growth in Short Interest $TRP http://t.co/HvIqgohdWB
Meghan.T.Biro
21 Nov 14 00:00:59
RT @Bidnessetc: TransCanada CEO dismisses detractors after the Keystone project was blocked in the US Senate http://t.co/BChsaKACgM $TRP
The Legacy News
20 Nov 14 23:29:34
TransCanada Sees Significant Growth in Short Interest $TRP http://t.co/EWPF5bVwkI
US Banking News
20 Nov 14 23:24:10
TransCanada Sees Significant Growth in Short Interest $TRP http://t.co/5uE9Bxr6pU
				
				
By  +Follow October 3, 2013 12:37PM
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