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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.

Results for trp
GavinGreenberg
20 Apr 14 00:01:13
$TRP: Keystone pipeline decision delayed again http://t.co/HR4cechiLQ
Stock Herald
19 Apr 14 23:01:07
$TRP: Keystone pipeline decision delayed again http://t.co/031NNM2fQx
Informer
19 Apr 14 22:01:07
$TRP: Keystone pipeline decision delayed again http://t.co/JDOa8aPoRT
GavinGreenberg
19 Apr 14 21:01:05
$TRP: Keystone pipeline decision delayed again http://t.co/HR4cechiLQ
Louie O'Malley
19 Apr 14 20:17:32
$TRP [$$] Obama Extends Review of Pi http://t.co/kDqlPnwIyr
Informer
19 Apr 14 19:12:04
$TRP: Keystone pipeline decision delayed again http://t.co/JDOa8aPoRT
Informer
19 Apr 14 19:02:13
$TRP: Keystone pipeline decision delayed again http://t.co/n8DIEMh5VI
JoeDDSpencer
19 Apr 14 18:10:03
$TRP Keystone delay increases greenhouse gases: Ambassador http://t.co/GSZnPmCmu0
GavinGreenberg
19 Apr 14 18:01:06
$TRP: Keystone pipeline decision delayed again http://t.co/Z11o83vHTC
JoeDDSpencer
19 Apr 14 17:08:21
$TRP Keystone delay increases greenhouse gases: Ambassador http://t.co/iPaOrZwSpv
Stock Herald
19 Apr 14 17:02:35
$TRP: Keystone pipeline decision delayed again http://t.co/aeXV27hWsm
Informer
19 Apr 14 16:01:06
$TRP: Keystone pipeline decision delayed again http://t.co/n8DIEMh5VI
JoeDDSpencer
19 Apr 14 15:47:10
$TRP DOS gives federal agencies more time for Keystone XL comments http://t.co/ZxvZropxyi
GavinGreenberg
19 Apr 14 15:00:47
$TRP: Keystone pipeline decision delayed again http://t.co/Z11o83vHTC
JoeDDSpencer
19 Apr 14 14:45:33
$TRP National energy boom blurs political battle lines http://t.co/syHrxsC6fi
Stock Herald
19 Apr 14 14:01:06
$TRP: Keystone pipeline decision delayed again http://t.co/aeXV27hWsm
Bill
19 Apr 14 13:47:49
RT @theflynews: $TRP TransCanada downgraded to Hold from Buy at Canaccord: Full Story http://t.co/BKD6fsGjIk
Informer
19 Apr 14 13:00:35
$TRP: Keystone pipeline decision delayed again http://t.co/n8DIEMh5VI
GavinGreenberg
19 Apr 14 12:01:07
$TRP: Keystone pipeline decision delayed again http://t.co/Z11o83vHTC
Stock Herald
19 Apr 14 11:02:10
$TRP: Keystone pipeline decision delayed again http://t.co/aeXV27hWsm
Robert Moulton
19 Apr 14 11:01:35
Keystone pipeline decision delayed again, li... $TRP $XLE $ERX $OIH $VDE $ERY $DIG $DUG $IYE $PXJ $PXI $PSCE http://t.co/uKVL4Bixd4
Informer
19 Apr 14 10:01:05
$TRP: Keystone pipeline decision delayed again http://t.co/w4aQJbljnj
GavinGreenberg
19 Apr 14 09:00:40
$TRP: Keystone pipeline decision delayed again http://t.co/Z11o83vHTC
Stock Herald
19 Apr 14 08:02:21
$TRP: Keystone pipeline decision delayed again http://t.co/aeXV27hWsm
ETF alpha
19 Apr 14 08:00:47
Keystone pipeline decision delayed again, likely until after November elections http://t.co/lrUVz8g4fP $TRP $XLE $ERX $OIH
HedgeChatter
19 Apr 14 07:20:10
Stocks on http://t.co/ekseL9qTvP with spike in news coverage: $CPN $NEM $TRP $LNKD $JNJ
Informer
19 Apr 14 07:02:11
$TRP: Keystone pipeline decision delayed again http://t.co/n8DIEMh5VI
212 Media Solutions
19 Apr 14 06:52:17
Keystone pipeline decision delayed again, likely until after November elections http://t.co/8Kwl2SRKj1 $TRP $XLE $ERX $OIH
DPL EnergyIQ
19 Apr 14 06:15:27
RT @SNLEnergy: US State Dept. extends review of TransCanada's Keystone XL pipeline http://t.co/TML2IsGuVp $TRP
GavinGreenberg
19 Apr 14 06:00:40
$TRP: Keystone pipeline decision delayed again http://t.co/Z11o83vHTC
Stock Herald
19 Apr 14 05:35:03
$TRP: Keystone pipeline decision delayed again http://t.co/aeXV27hWsm
Stock Herald
19 Apr 14 05:02:06
$TRP: Keystone pipeline decision delayed again http://t.co/031NNM2fQx
Ambrose Long
19 Apr 14 03:05:36
$TRP [$$] Obama Extends Review of Pi http://t.co/3wj1ETwJer
GavinGreenberg
19 Apr 14 03:00:35
$TRP: Keystone pipeline decision delayed again http://t.co/HR4cechiLQ
JoeDDSpencer
19 Apr 14 02:59:07
$TRP TransCanada CEO "disappointed" with Keystone XL pipeline delay http://t.co/HSdew7FPDK
JoeDDSpencer
19 Apr 14 02:54:03
$TRP U.S. once again delays decision on Keystone XL pipeline http://t.co/PW42O7cLCt
JoeDDSpencer
19 Apr 14 02:48:34
$TRP US puts off decision on Keystone XL pipeline http://t.co/LtY9x20tMr
JoeDDSpencer
19 Apr 14 02:43:06
$TRP Poll: Keystone XL Pipeline http://t.co/nSj1IRg2B5
Stock Herald
19 Apr 14 02:02:12
$TRP: Keystone pipeline decision delayed again http://t.co/031NNM2fQx
Informer
19 Apr 14 01:56:22
$TRP: Keystone pipeline decision delayed again http://t.co/JDOa8aPoRT
JoeDDSpencer
19 Apr 14 01:47:34
$TRP Obama admin announces further delay for pipeline project http://t.co/OREiIdEZJc
JoeDDSpencer
19 Apr 14 01:42:04
$TRP Keystone pipeline hit by another delay http://t.co/ZHQJ2leZ5m
JoeDDSpencer
19 Apr 14 01:30:33
$TRP Obama administration indefinitely delays decision on the Keystone XL pipeline http://t.co/cLeegpJXlx
JoeDDSpencer
19 Apr 14 01:02:33
$TRP Crude & Brent Oil Weekly Fundamental Analysis April 21 – 25, 2014 Forecast http://t.co/OlghjhPXWr
Informer
19 Apr 14 01:02:04
$TRP: Keystone pipeline decision delayed again http://t.co/mOVLMV5xCE
JoeDDSpencer
19 Apr 14 00:57:34
$TRP New Keystone XL Pipeline Delay Disappoints PMO http://t.co/44gOAiUbbQ
JoeDDSpencer
19 Apr 14 00:41:03
$TRP Nebraska lawsuit delays decision on Keystone XL http://t.co/BlKxyXESXS
오동석(Alex Oh)
19 Apr 14 00:35:31
RT @MarketCurrents: Keystone pipeline decision delayed again, likely until after November elections http://t.co/7DODoolhiP $TRP $XLE $ERX $…
GavinGreenberg
19 Apr 14 00:01:04
$TRP: Keystone pipeline decision delayed again http://t.co/HUedVeW1c1
JoeDDSpencer
18 Apr 14 23:50:33
$TRP State Dept. delays Keystone decision until after midterms http://t.co/rWiXc0mbMd
				
				
By  +Follow October 3, 2013 12:37PM
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