Filed under: Uncategorized | Tags: Brent, Cushing, Gulf Coast leg, Keystone XL, NYMEX, oil pipelines, pipelines, TransCanada, WTI
Doesn’t need fed approval for that.
TransCanada said Monday that a 700,000 barrel-per-day Gulf Coast leg originally part of the Alberta-to-Texas Keystone XL proposal is now a separate $2.3-billion US project that doesn’t require a cross-border presidential permit. Obama denied Keystone XL a construction permit in January, following a delay of the project last November caused by an extension of U.S. environmental review.
The link between an oversupplied Oklahoma oil storage hub and the world’s largest refining market in Texas will help relieve a glut in crude supply in the U.S. Midwest upon startup in mid to late 2013, the company said.