Investing.com - Financial Markets Worldwide

UPDATE 1-TransCanada withdraws Keystone XL route application in Nebraska

Published 2015-11-18, 12:07 p/m
© Reuters. UPDATE 1-TransCanada withdraws Keystone XL route application in Nebraska
TRP
-

(Adds comments by TransCanada spokesman, details on KXL)
CALGARY, Alberta, Nov 18 (Reuters) - TransCanada Corp
TRP.TO is withdrawing its route application for the Keystone
XL pipeline in the state of Nebraska after U.S. President Barack
Obama denied a permit for the controversial project, the company
said on Wednesday.
TransCanada said it informed the Nebraska Public Service
Commission it was withdrawing the application as it pauses to
consider the next steps following Obama's rejection earlier this
month, more than seven years after it was first proposed.
Keystone XL was meant to ship 830,000 barrels per day of
mainly oil sands crude from Alberta to Nebraska and on to the
U.S. Gulf Coast.
Environmentalists opposed to the cross-border project
claimed a huge victory but TransCanada has vowed it will keep
pressing to build the pipeline.
"We believe it is inappropriate to ask the Commission to
continue to move forward on a process that has legally set time
lines, while we continue to consider our next course of action,"
TransCanada spokesman Mark Cooper said in a statement.
Cooper said although the company is withdrawing the
application it reserves the right to reapply to the Nebraska
Public Service Commission later and that it remains committed to
the pipeline.

Latest comments

Install Our App
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.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.