Canada pipeline news

According to Reuters, an Illinois federal judge on Monday dismissed a lawsuit accusing pipeline operator Enbridge of blocking a rival from building a terminal to ship Canadian crude oil by barge from the Chicago area to refineries in the Midwest and the Gulf of Mexico.

Pembina Pipeline Corp. has announced the closing of Pembina Gas Infrastructure Inc.’s (PGI) acquisition of a 50% working interest in Whitecap Resources Inc.’s 15-07 Kaybob Complex, effective 31 December 2024.

Combination expands portfolio of offerings to pipeline operators.

The expanded Trans Mountain pipeline, which started operation earlier this year, is worth as much as CAN$33.4 billion (US$24 billion) based on the assumption that shipping contracts are renewed in the early 2040s.

Enbridge Inc. has begun talks with its customers about expanding its Mainline pipeline network to handle growing volumes of Canadian oil output.

US imports of crude oil from Canada reached a record of 4.3 million bpd in July 2024 following the expansion of Canada’s Trans Mountain pipeline.

Trans Mountain will shut the Puget Sound Pipeline for about seven days in mid-November to conduct planned maintenance, says Reuters.

Refiners on the US Gulf Coast are increasingly turning to Latin American heavy crude as Canada’s recently expanded Trans Mountain pipeline reroutes global oil flows.

The 20 year contract will boost CNRL’s space on the pipeline by about 75% to roughly 164 000 bpd, according to Bloomberg calculations.

The transaction is expected to close late in 4Q24.