TC Energy Corp. is that much closer to beginning the development of the Keystone XL pipeline. According to the company’s president and CEO Russ Girling, TC has purchased close to 100 per cent of the land it will need to complete the pipeline project that will span from Alberta to the U.S. Gulf Coast, reports the Financial Post.
The company is still in the process of receiving permits from the U.S. Army Corp of Engineers, as well as managing the litigation that is currently happening in Montana.
Construction has started on a new wind farm surrounding the remote Agnew gold mine in Western Australia. Not only will this $112 million renewable energy project be the country’s largest hybrid energy efficient microgrid, it will also make Agnew the first ever mine site to be powered by wind. ABC News has more.
On Friday morning, Brent Crude was at US$57.45 and West Texas Intermediate US$52.21.
Enbridge Inc. on Friday reported fourth-quarter earnings that were far below estimates. Although the company was transporting more barrels of crude per day on its Mainline system, profits from the system fell short, having dropped by 3.7 per cent.
The industry giant also announced that it will be purchasing Rio Bravo Pipeline Company from NextDecade, based in Houston. Enbridge will acquire the pipeline for a cash purchase price of no more than $25 million, and will be in control of the financing, construction and operation of the company’s LNG export facility based in Rio Grande, according to the Reuters.
In other news, there are plans to re-open Nova Scotia’s Northern Pulp mill in the future, according to Bruce Chapman, the general manager of the company that operates it. On Wednesday, Chapman spoke at the annual meeting of Forestry Nova Scotia and said that his company is “committed to Nova Scotia” and will partake in an environmental assessment in order to get the mill back up and running, reports Huddle.