Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?


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

By  +Follow October 3, 2013 12:37PM
Tickers Mentioned:

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.

Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for trp
3 Mar 15 03:41:46
RT @StockSignaling: Basic Materials Sector: Upgrades: $ROSE $VLO $EGO $NE $AA $SPN $AU $BHI $GPOR $TRP $BHP $BPZ $DVN $IAG $KEG http://t.co…
Stock Signaling
3 Mar 15 01:32:35
Basic Materials Sector: Upgrades: $ROSE $VLO $EGO $NE $AA $SPN $AU $BHI $GPOR $TRP $BHP $BPZ $DVN $IAG $KEG http://t.co/DEd0xkdNq4 #dow #mkt
2 Mar 15 22:42:19
This $100M market cap #biotech #stock has gotten 3 orphan drug designations in 3 weeks $TRP $AMD $SPR investors read http://t.co/r6XCUw0ZTz
Penny Stock Secret
2 Mar 15 10:58:37
Yesterday We Made $89,000 In Just One Trade More Info Here http://t.co/NovWYe2RAx .. $TRNO $TROX $TRP
Sleek Money
2 Mar 15 10:49:22
TransCanada Receives Consensus Recommendation of “Hold” from Brokerages $TRP http://t.co/GPHOWhAkul
2 Mar 15 07:34:24
Basic Materials Sector: Upgrades: $KEG $VLO $NE $ROSE $AA $EGO $SPN $AU $BHI $TRP $BPZ $DVN http://t.co/wJubkZLVVS #stockmarket #daytrader”
Breaking News
2 Mar 15 05:36:05
$TRP: TransCanada Closes $250 Million Preferred Share Issue: http://t.co/LxLS1cCRLs
2 Mar 15 05:35:18
RT @StockSignaling: Basic Materials Sector: Upgrades: $KEG $VLO $NE $ROSE $AA $EGO $SPN $AU $BHI $TRP $BPZ $DVN http://t.co/DEd0xkdNq4 #sto…
Breaking News Now
2 Mar 15 05:21:02
$TRP: TransCanada Closes $250 Million Preferred Share Issue: http://t.co/2OlgUe7QHg
Breaking News
2 Mar 15 05:19:24
$TRP TransCanada Closes $250 Million Preferred Share Issue http://t.co/iXJwttkEXZ
Breaking News
2 Mar 15 03:56:04
$TRP: Bullish runners - TransCanada (TRP), Hatteras Financial (HTS ...: http://t.co/Cdueamfxnc
2 Mar 15 02:20:34
RT @StockSignaling: Basic Materials Sector: Upgrades: $KEG $VLO $NE $ROSE $AA $EGO $SPN $AU $BHI $TRP $BPZ $DVN http://t.co/DEd0xkdNq4 #sto…
2 Mar 15 01:43:47
RT @StockSignaling: Basic Materials Sector: Upgrades: $KEG $VLO $NE $ROSE $AA $EGO $SPN $AU $BHI $TRP $BPZ $DVN http://t.co/DEd0xkdNq4 #sto…
Stock Signaling
2 Mar 15 01:32:36
Basic Materials Sector: Upgrades: $KEG $VLO $NE $ROSE $AA $EGO $SPN $AU $BHI $TRP $BPZ $DVN http://t.co/DEd0xkdNq4 #stockmarket #daytrader
2 Mar 15 01:00:07
Upgraded: $BGCP $AMAG $PKT $FDX $SKYW $BPZ $UIL $BRCM $MO $TSCO $PTX $DOX $TAP $SPRT $TRP http://t.co/Vv2VEn80mr #markets #spy #watchlist
1 Mar 15 15:42:02
$TRP: Share Price of TransCanada Corporation Drops by -1.26%: http://t.co/9phsE6ac7P
1 Mar 15 08:21:02
$TRP: TransCanada Corporation (USA) (NYSE:TRP) Update ...: http://t.co/o3akIcpom9
1 Mar 15 07:48:37
TransCanada Receives C$59.78 Consensus PT from Analysts $TRP http://t.co/ijne8AcNCg
28 Feb 15 22:20:40
Obama Blocks $TRP Keystone But What Happens When Oil Prices Increase in 2016? http://t.co/ukK1C1nahB $XOM $CVE $HUSKF $SU $STO $COP
Beverage Consulting
28 Feb 15 02:50:09
RT @SA_Dividends: 10 Stocks Building Future Yield With Increased Dividends http://t.co/Jg7y4eFcxX $CL $FTR $GPC $KMB $KO $NEE $PEG $TRP $WM…
Market Parse
27 Feb 15 19:30:19
@corptrader $TRP Your tweet has been featured on Market Parse, for iPhone. http://t.co/YHInvBCk4m
27 Feb 15 18:41:11
@TeamCavuto @MomDishesItOut most know that Buffett owns $BNI & rails crude from Canada as Obama blocks $TRP keystone - but this is crazy
27 Feb 15 13:03:24
#TransCanada : to divest remaining stake in GTN to TC PipeLines for $446m http://t.co/2Ba6srytzJ $TRP
27 Feb 15 10:25:02
$TRP: New SEC Filing for TRP: Form 6-K (No. 0001104659-15-014994): http://t.co/tgK4nMshup
Latest SEC Filings
27 Feb 15 10:24:05
NEW SEC Filing for $TRP filed a moment ago: http://t.co/HGGYHa6ulu http://t.co/ZWP4dAk5G2
27 Feb 15 10:22:02
$TRP - Report of Foreign Issuer (6-k) http://t.co/5kUy4R55Oq
Stockflare US Page
27 Feb 15 08:58:41
@TransCanada upgraded to a 5 star stock today @StockflareUS See: http://t.co/GveubUIO9A #stocks $TRP http://t.co/YxQrOvS77k
27 Feb 15 08:32:32
My holdings ending this week. $T $AGNC $NLY $APL $BDRBF $CCJ $COP $CYS $GNW $SLV $LINE $DDD $PER $RIG $SDRL $TRP $UCO $USO $VZ $VOC $WIN
Mr G
27 Feb 15 07:32:08
@mgrahamwood - $TRP renaming has a whiff of windscale to sellafield about it ... Maybe '888 lucky red dragon energy' to have further appeal!
27 Feb 15 05:57:03
#TransCanada : and the UA Canadian Piping Trades Join as Presenting Sponsors f... http://t.co/CLAqho61TU $TRP
The Legacy News
27 Feb 15 05:56:24
TransCanada Receives $58.78 Consensus Price Target from Analysts $TRP http://t.co/p7TOg1jhNb
27 Feb 15 05:49:57
TransCanada Receives “BBB+” Credit Rating from Morningstar $TRP http://t.co/20EwoJWn3o
Market Int Center
27 Feb 15 05:04:54
TransCanada $TRP Trading Near $42.42 Support Level ( http://t.co/dSfwp8iagS )
26 Feb 15 20:30:09
Price Declines: $VAC $SNY $PVH $GEVA $CPA $ROVI $SN $NTRS $TSCO $POT $TRP $UAN $MRO $GBX $ATHN http://t.co/Vv2VEn80mr #stock #stockpicks
26 Feb 15 19:30:10
Gap Downs: $EDR $LMT $WAC $TRP $ONE $AGEN $UAN $IL $JASO $STT $BG $STAA $MS $LGCY $LO http://t.co/Vv2VEn80mr #trader #analyst #nyse #nasdaq
26 Feb 15 15:06:33
Scan results - Stochastic Buy Signal today: $MBLY $TRP $HLX $GPS $CTRL $NDLS $TDW $SCHN $FE $GES ... http://t.co/NX7JwNDhhj
26 Feb 15 11:13:14
RT @FrugalTrader: The Dogs of the TSX 2015 (big companies with high dividend yields) http://t.co/W2CxZAC7RL $BCE $POT $BNS $RY $TRP $T $FTS…
SA Breaking News
26 Feb 15 08:24:17
Irving-backed East Energy pipeline route meets Irving-owned forest interests http://t.co/MzbTizSJib $TRP
Energize Minnesota
26 Feb 15 05:24:02
Despite Veto, #KeystoneXL Debate Isn't Over Yet $CNI $ENB $TRP http://t.co/57xoPLLQgK @TransCanada
26 Feb 15 03:32:54
Despite Veto, #KeystoneXL Battle Isn't Over Yet $CNI $ENB $TRP http://t.co/HSIA1w4dIm #oil http://t.co/kNTUewZo3o
26 Feb 15 01:21:03
$TRP: Analyst Rating Update on TransCanada Corporation (USA): http://t.co/W4t4uc55Wt
Kevin B. Bantz
25 Feb 15 18:10:48
$TRP 2/3 vote http://t.co/5MUiawNv4V
25 Feb 15 13:20:10
$TRP: New SEC Filing for TRP: Form 6-K (No. 0001263995-15-000014): http://t.co/QbGhtwMDuI
SEC Filings
25 Feb 15 13:19:23
NEW SEC Filing for $TRP filed a moment ago: http://t.co/EPU9uNKdGD http://t.co/Uc7eCOOzE5
25 Feb 15 11:40:26
Despite Veto, #Keystone Battle Isn't Over Yet $CNI $ENB $TRP http://t.co/HSIA1wlP6W
Yadullah Hussain
25 Feb 15 10:38:03
RT @DeleverTheFirm: From Russ With Love? TransCanada CEO writes letter to U.S. Secretary of State Kerry on Keystone XL project. http://t.co…
Ben Dummett
25 Feb 15 10:23:17
RT @DeleverTheFirm: From Russ With Love? TransCanada CEO writes letter to U.S. Secretary of State Kerry on Keystone XL project. http://t.co…
Jesse Snyder
25 Feb 15 10:21:40
RT @DeleverTheFirm: From Russ With Love? TransCanada CEO writes letter to U.S. Secretary of State Kerry on Keystone XL project. http://t.co…
Jameson Berkow
25 Feb 15 10:19:25
RT @DeleverTheFirm: From Russ With Love? TransCanada CEO writes letter to U.S. Secretary of State Kerry on Keystone XL project. http://t.co…
Chester Dawson
25 Feb 15 10:17:21
From Russ With Love? TransCanada CEO writes letter to U.S. Secretary of State Kerry on Keystone XL project. http://t.co/FSM61sOEK1 $TRP #KXL
By  +Follow October 3, 2013 12:37PM



blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.