🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

UPDATE 4-TC Energy says Keystone pipeline spill in North Dakota contained

Published 2019-10-30, 09:21 p/m
© Reuters.  UPDATE 4-TC Energy says Keystone pipeline spill in North Dakota contained
LCO
-
CL
-
TRP
-

(Adds details on containment of the spill, company statement)

By K. Sathya Narayanan and Rod Nickel

Oct 30 (Reuters) - TC Energy Corp TRP.TO said on Wednesday that a response team contained an oil spill in Walsh County, North Dakota from its Keystone crude pipeline.

Oil has not migrated beyond an immediately affected area of about 2,500 square yards (2,090 square metres), the company said is a statement.

The company detected a drop in pressure on Tuesday night on its 590,000-barrel-per-day (bpd) Keystone oil pipeline system from Canada and it was shut, TC Energy said in a statement, without specifying the exact impact on operations.

It did not say if the entire route of the line was closed, or just a section of the pipe.

"There have been no reported injuries or impact on wildlife and we do not have the exact volume released at this point," the company said.

The spill took place about three miles (5 km) northwest of Edinburg, in Walsh County, North Dakota, where part of the pipeline is underground.

Pipeline repair and cleanup might take two or three months, said Brent Nelson, an emergency response manager for Walsh County.

The North Dakota Department of Environmental Quality was overseeing the cleanup and investigation of the spill, said Karl Rockeman, director of the department's division of water quality.

The pipeline system is a key transporter of Canadian crude from northern Alberta to refineries in the U.S. Midwest.

Canada heavy crude differentials widened slightly on the news, according to Net Energy Exchange. Volumes, however, were thin as the market is outside the monthly Canadian crude trading window.

Shares of TC Energy fell to their lowest in more than two months.

Western Canada Select (WCS) heavy blend crude for November delivery last traded at $17.15 per barrel below U.S. oil futures, widening from $17.05 per barrel below WTI on Tuesday. December WCS last traded at $16.95 a barrel under, widening from Tuesday's settle of $16.75 a barrel below WTI.

In the U.S. market, the November/December WTI cash roll, which allows traders to roll contracts to the next month, firmed on the outage, traders said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.