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Workers survey the damage of a pipeline leak in a field near Edinburg, N.D.HO/The Canadian Press

TC Energy Corp told a majority of Keystone oil pipeline shippers that November volumes would be cut by nearly 39 per cent after a leak in North Dakota spilled more than 9,000 barrels about two weeks ago, sources familiar with the matter said on Wednesday.

TC Energy did not immediately respond to a request for comment.

The company had earlier told shippers that the outage meant it could not carry out 30 per cent of their normal November shipments on the 590,000 barrel-per-day line from Alberta to U.S. Midwest refineries.

TC Energy has completed repairs and restarted the pipeline at a 20 per cent pressure reduction, a U.S. regulator said on Tuesday.

The line was shut in late October after a drop in pressure was detected. News of the outage initially sent the discount on Canadian heavy crude versus U.S. benchmark West Texas Intermediate (WTI) crude to an 11-month high of about $22 a barrel.

Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading at $19 per barrel below WTI on Tuesday, according to Net Energy Exchange, narrower than Friday’s settle of $21.40 below. The market was closed on Monday for a holiday.

WCS was seen at about $18.25 a barrel below WTI futures early on Wednesday, traders said.

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Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 17/05/24 4:00pm EDT.

SymbolName% changeLast
TRP-T
TC Energy Corp
-0.56%52.95

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