Energy
 

March 26, 2019

 
 
Top news
 
Kinder Morgan drops out of deepwater crude export venture
  Kinder Morgan drops out of deepwater crude export venture
 

Collin Eaton

Kinder Morgan Inc. has dropped out of a recently proposed U.S. Gulf Coast deepwater crude export venture, the project’s leader, Enbridge Inc., said on Monday.

 
The US$800-million project, known as Texas COLT, is one of eight similar projects proposing facilities that would move U.S. shale to overseas markets by loading supertankers able to carry up to two million barrels apiece.

 
Pipeline operators Enbridge and Kinder Morgan disclosed plans to build an crude export terminal off Freeport, Tex., in January, and filed permit applications with the U.S. Maritime Administration. German oil storage firm Oiltanking Partners remains committed to the project, Enbridge said.

 
“The project does not align with our strategic priorities,” Kinder Morgan spokeswoman Lexey Long said. The company cited the time commitment to move the project through a regulatory phase and a recent internal review.

 
 
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Oil price update
 
Brent crude up near $68 a barrel as supply cuts outweigh economic worry
Brent crude up near $68 a barrel as supply cuts outweigh economic worry
 

Alex Lawler

Oil rose to around $68 a barrel on Tuesday as OPEC supply cuts and expectations of lower U.S. inventories outweighed concern about weaker demand due to an economic slowdown.

 
 
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Latest posted news
 
Activist investors nominate five directors to TransAlta board in bid to derail Brookfield investment
Activist investors nominate five directors to TransAlta board in bid to derail Brookfield investment
 
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Saudi Aramco building global gas business to cut carbon footprint
Saudi Aramco building global gas business to cut carbon footprint
 
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Iran’s oil pipelines undamaged by heavy rain, flooding
 
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  TransAlta lines up $750-million investment from Brookfield Renewable for hydro assets
 
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  Morneau unveils principles for Indigenous ownership in Trans Mountain pipeline
 
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  Calgary’s Enmax to purchase Emera’s Maine assets for $1.3-billion
 
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