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☆ TC Energy to sell 40% in Columbia gas transmission systems for $4 bln
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - Canada's TC Energy (TRP.TO), best known for its Keystone oil pipeline, will divest a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines for C$5.2 billion ($3.95 billion) to Global Infrastructure Partners (GIP). TC was on course to deliver on its target to divest C$5 billion of assets by the end of the year, CEO François Poirier said in April. Columbia Gas and Columbia Gulf will be held in a new joint venture partnership and TC will remain the operator under the deal, which is expected to close in the fourth quarter. The pipelines span more than 15,000 miles and deliver a substantial portion of daily U.S. natural gas demand, including about 20% of U.S. liquefied natural gas (LNG) export supply, according to TC Energy. ($1 = 1.3180 Canadian dollars)Reporting by Arshreet Singh; Editing by Shounak Dasgupta and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: François Poirier, TotalEnergies, Arshreet Singh, Shounak Dasgupta, Sriraj Organizations: Canada's TC Energy, Keystone, Columbia, Transmission, Global Infrastructure Partners, TC, Columbia Gas, GIP, TC Energy, Thomson Locations: The Calgary , Alberta, British Columbia, U.S, Rio Grande

☆ Allbirds is trying to win back Silicon Valley with a weird sock shoe
▼ + stars: | 2023-06-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

The jumbo logo badge serves a key role in offsetting the shoe's carbon impact, the company said. AllbirdsLike every aspect of the shoe however, the company said the badge serves an important function in attaining a net-zero carbon rating. A typical pair of running shoes generate about 30 pounds of CO2. AllbirdsWith the M0.0nshot, Allbirds said it takes this number down to zero, which is why "0.0" is featured in the name of the shoe. The company hasn't shared pricing, but interested sneakerheads can sign up on Allbird's website to the the first to know.

Persons: Allbirds, Tim Robinson's, Tom Nikic, Jamie McLellan, We've Organizations: Service, bros, Global Fashion, MIT, Adidas, Wedbush Securities Locations: Copenhagen

☆ TC Energy shuts two compressor stations on NGTL due to Alberta wildfires
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: 1 min

Companies TC Energy Corp FollowJune 12 (Reuters) - TC Energy (TRP.TO) said it completed the shutdown of two compressor stations on the NOVA Gas Transmission Ltd. (NGTL) System and a gas storage facility on Saturday that were near wildfires in Edson, Alberta. "Other sections of the NGTL system and other pipeline systems continue to operate safely and we continue to monitor the situation closely," the company said in a release. The 25,000-kilometre NGTL system ships gas across Canada and to U.S. markets. Reporting by Seher Dareen in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Seher Organizations: TC Energy Corp, TC Energy, NOVA, Transmission Ltd, Thomson Locations: Edson , Alberta, Canada, U.S, Bengaluru

☆ Western Canada covered in smoke as wildfires loosen grip on Quebec
▼ + stars: | 2023-06-12 | by ( Ismail Shakil | ) www.reuters.com time to read: +3 min

[1/4] Smoke billows upwards from the Donnie Creek wildfire (G80280) south of Fort Nelson, British Columbia, Canada June 11, 2023. Wildfire Service/Handout via REUTERSOTTAWA, June 12 (Reuters) - Smoke shrouded Western Canada on Monday as wildfires flared again in the main oil-producing province of Alberta, while firefighters in Quebec doused some of the worst early season blazes, allowing thousands of evacuees to return home. "If you look at western Canada, it's completely covered by the smoke and that continues into Tuesday," federal meteorologist Gerald Cheng told reporters on Monday. "The risk for smoke is very high because the winds are really transporting the smoke throughout Alberta today and even into Tuesday." (Click here to read what health experts say about wildfire smoke.)

Persons: it's, Gerald Cheng, Cheng, Anita, Ismail Shakil, Mark Heinrich Our Organizations: Wildfire Service, REUTERS OTTAWA, Canadian Interagency Forest Fire, TC Energy, Health, U.S ., Canadian Defence, Thomson Locations: Fort Nelson, British Columbia, Canada, Alberta, Quebec, Netherlands, Europe, Saskatchewan, Manitoba, Edson, Edmonton, McMurray, U.S . East Coast, Alberta , Nova Scotia, Ottawa

☆ Exclusive: Canada's TC Energy laying off staff
▼ + stars: | 2023-06-06 | by ( Nia Williams | ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Canada's TC Energy (TRP.TO) is cutting some jobs to "optimize value" a company spokesperson said on Tuesday, without giving details of how many positions have been impacted. News of the job cuts at TC Energy comes a week after Suncor Energy (SU.TO) told employees it would eliminate 1,500 jobs. Earlier this year, Imperial Oil IMO.TO cut the number of contractors working at its Kearl oil sands project. TC Energy said the company continually reviews its operations and as the business evolves some positions are reduced. "These decisions are difficult but necessary to optimize the value for our business," a TC Energy spokesperson said in an email.

Persons: Rich Kruger, Nia Williams, Denny Thomas, Lisa Shumaker Organizations: Canada's TC Energy, TC Energy, Suncor Energy, Imperial, Keystone, Thomson Locations: Calgary, Suncor, North America

☆ Mortgage demand surged after Fed signaled potential pause in rate hikes
▼ + stars: | 2023-05-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates fell slightly last week after the Federal Reserve chairman suggested a potential end to a historic string of interest rate hikes. The drop wasn't substantial, but it was enough to boost demand from current homeowners hoping to refinance their mortgages to lower rates. Mortgage rates for all surveyed loan types decreased over the week. Mortgage rates rose sharply to start this week, according to a separate survey from Mortgage News Daily. Any large divergence from expectations, in either direction, could move bond yields, and consequently mortgage rates, decisively.

☆ Alberta wildfire shuts in at least 2% of Canadian energy production
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +4 min

It added that about 50,000 boepd of production has been temporarily curtailed since the evening of May 5. Crescent Point Energy Corp (CPG.TO)Crescent Point said about 45,000 boepd of production in the Kaybob Duvernay region has been temporarily shut in with a plan to restart production once safe and permitted to do so. NuVista Energy Ltd (NVA.TO)The company said it has temporarily shut in and depressured all operations proximal to the ongoing fires in the Grande Prairie region. Vermilion Energy Inc (VET.TO)Vermilion Energy said it had temporarily shut in about 30,000 boepd of production and that it was assessing the risk to its operations. Cenovus Energy Inc (CVE.TO)Cenovus said it has shut-in production and brought plants down in some areas of its conventional business.

☆ TC Energy declares force majeure on Columbia Gulf natgas station after fire
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

April 28 (Reuters) - Canadian energy company TC Energy Corp (TRP.TO) said on Friday that its Columbia Gulf Transmission unit declared a force majeure event at its Corinth natural gas compressor station in Mississippi due to a fire, which had been extinguished. The fire at the compressor station resulted from a suspected lightning strike during severe storms that occurred early on Friday, the company said in a statement. The Corinth compressor station is making operational adjustments to allow a portion of volume to resume flows through the impacted segment of the system, TC Energy said. Based on current nominations, Columbia Gulf said the anticipated impact to firm service was about 0.4 bcf. The Columbia Gulf pipe stretches 3,367 miles (5,419 kilometers) between the U.S. Gulf Coast and the Midwest, serving customers in Louisiana, Mississippi, Tennessee and Kentucky, according to the company's website.

☆ CNN's Oliver Darcy says he requested $1,000 on Venmo from Tucker Carlson, who he says made a bet that Darcy would lose his job
▼ + stars: | 2023-04-26 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

CNN journalist Oliver Darcy tweeted that Carlson had allegedly lost a $1,000 bet between them. Carlson called Darcy to say the CNN reporter would lose his job at the cable network, Darcy said. Oliver Darcy claimed on Tuesday that Tucker Carlson called him last year, betting $1,000 that the CNN reporter would meet a similar fate to the one he had met on Monday. "He vowed to Venmo me $1,000 if I still was employed by CNN a year later. Following over a decade at Fox News, Carlson was let go by the network 10 minutes before it released a statement.

☆ TC Energy says Keystone oil spill caused by fatigue crack
▼ + stars: | 2023-04-21 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

April 21 (Reuters) - Canada's TC Energy (TRP.TO) on Friday said a 14,000-barrel oil spill from its Keystone pipeline in rural Kansas in December was primarily due to a progressive fatigue crack, which originated during the construction of the pipeline. The Calgary-based company released the findings after receiving an independent third-party root cause failure analysis (RCFA), as required by regulators. TC said the RCFA report found the fatigue crack came from a girth weld connecting a manufactured elbow fitting to the section of pipe constructed across Mill Creek. The girth weld was completed at a fabrication factory and met applicable standards. "This resulted in the initiation of a circumferential crack in the weld, which led to failure through operations after over a decade," TC said.

☆ A first-class Delta passenger grabbed a flight attendant and kissed him on the neck, lawsuit says
▼ + stars: | 2023-04-21 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

While the plane was in flight, BURK then grabbed T.C. 's neck, pulling him toward BURK, and purposefully kissed T.C. A female flight attendant who took over serving the first-class section told TC that Burk had 2 more glasses of wine, appeared "wasted", and slept for the rest of the flight, the documents say. He said he had not gone to the bathroom during the flight, and when asked if he had kissed TC said "[He] never kissed anybody." Burk told police that he was in Alaska to administer the estate of a friend who had died.

The Roku Plus Series QLED 4K TV is the flagship model in Roku's first lineup of in-house TVs. Now the company is taking on those same partners by building its own in-house Roku TVs, including the new flagship Roku Plus Series QLED. As you might guess, Roku's Plus Series feels strikingly familiar inside and out. Roku 65-inch Plus Series 4K QLED TV Roku's new Plus Series is one of the company's first in-house smart TVs. The Roku Plus Series TV delivers solid performance, but it's not worth buying at full price.

☆ New White House bank regulation plan impacts short list of banks
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

[1/3] A First Republic Bank branch is pictured in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike Segar/File PhotoWASHINGTON, March 30 (Reuters) - The White House's plan to strengthen the U.S. banking system announced on Thursday makes new demands on a small group of midsized banks. The plan asks regulators to demand banks with between $100 billion and $250 billion in assets increase liquidity and capital, and submit to extra stress tests, among other changes. BANK ASSETS, BILLIONCitizens Bank $226.4First Republic $212.6Morgan Stanley Priv. Bnk $209.7Silicon Valley $209.0Fifth Third Bank $206.3Morgan Stanley Bank $201.4Manufacturers & Traders $200.3Keybank $187.6Huntington $182.3Ally Bank $181.9BMO Harris $176.9HSBC Bank USA $162.4American Express $155.4Northern TC $154.5Regions Bank, AL $154.2Discover $129.4Signature $110.4First Citizens $109.2MUFG Union $104.4Reporting by Dan Burns; Writing by Heather Timmons; Editing by Anna DriverOur Standards: The Thomson Reuters Trust Principles.

☆ Canada's B.C. province sets high emissions bar for new LNG projects
▼ + stars: | 2023-03-17 | by ( Nia Williams | ) www.reuters.com time to read: +4 min

[1/2] The entrance to Shell's LNG Canada project site is shown in Kitimat in northwestern British Columbia on April 12, 2014. While the tougher regulation will not impact the huge Shell-led (SHEL.L) LNG Canada project already under construction, a proposed export terminal adjoining the small-scale Tilbury LNG facility and the early-stage Ksi Lisims LNG project in northern B.C will fall under the new rule. The province will start exporting 14 million tonnes per annum (MTPA) when LNG Canada enters service in 2025. "That (net-zero requirement) is a very high bar and a high hurdle to pass," said Mark Zacharias, executive director of think-tank Clean Energy Canada, adding the new framework rounds out B.C. 's new regulations also include an oil and gas emissions cap and plans to accelerate the electrification of the economy.

So You Want to Turn an Office Building Into a Home? There’s an appealing simplicity to the idea of converting office buildings into housing. Basically, they did this:How to Turn a 26-story Office Building Into a 30-story Apartment Building Cut a hole through 23 floors of the building. How to Turn a 26-story Office Building Into a 30-story Apartment Building Cut a hole through 23 floors of the building. That could change with tax abatements and subsidy programs, or if outdated office buildings lose so much value that the cost of acquiring them plummets.

☆ India's Tata Technologies, a unit of Tata Motors, files for IPO
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, March 10 (Reuters) - Tata Technologies, a unit of Indian carmaker Tata Motors (TAMO.NS), filed for an initial public offering (IPO) on Thursday, according to draft papers submitted to the market regulator. However, Tata Tech, which provides engineering and product development digital services, said it will not offer any of the 95.7 million shares, representing around 23.6% of its paid-up share capital, to be sold in the IPO. Instead, Tata Motors, which has a 74.69% stake in Tata Tech, will sell up to 81.1 million shares, while Alpha TC Holdings will sell 9.7 million shares and Tata Capital Growth Fund I will sell 4.9 million shares. The spend on digital services in these industries is expected to rise from $1.64 trillion in 2021 to $2.28-2.33 trillion by 2025, Tata Tech said, citing a report by Zinnov Management Consulting. Tata Motors said in December it was exploring the possibility of selling part of its stake in Tata Tech through a public float.

☆ US regulator seeks more corrective actions from TC Energy after Keystone spill
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

Companies TC Energy Corp FollowMarch 7 (Reuters) - The U.S. pipeline regulator said on Tuesday it would require TC Energy (TRP.TO) to take fresh action on more than 1,000 additional miles (1,609 kilometers) of its Keystone pipeline that spilled nearly 14,000 barrels of oil in rural Kansas in December. The Canadian pipeline operator completed a controlled restart of the 622,000-barrel-per-day (bpd) pipeline to Cushing, Oklahoma, on Dec. 29 last year, returning it to service after a 21-day outage following the biggest U.S oil spill in nine years. The amended corrective order from the Pipeline and Hazardous Materials Safety Administration (PHMSA) requires TC Energy to keep the operating pressure on the affected pipeline segment under the previously agreed upon 923 pounds per square gauge (psig) limit. TC Energy is also required to submit an independently conducted root cause failure analysis, followed by a remedial work plan and proposed measures to mitigate consequences of failure, it added. The Canadian company said last month that a combination of factors including bending stress on the pipe and a weld flaw might have led to the Keystone oil spill, adding that it was expecting $480 million in costs related to the incident.

☆ TSX inches higher as Bank of Canada keeps interest rates on hold
▼ + stars: | 2023-03-08 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies TC Energy falls after U.S. regulator seeks corrective actionsTSX rises 0.5%March 8 (Reuters) - Canada's main stock index edged higher on Wednesday, helped by gains in commodity-linked stocks and the banking sector after the Bank of Canada (BoC) kept interest rates on hold as expected. ET (1515 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 99.07 points, or 0.49%, at 20,374.61. The energy sector (.SPTTEN) gained 1.1%, while materials (.GSPTTMT) rose 1.5%. Miners, energy firms and financial stocks comprise nearly 60% of the TSX index. Among stocks, TC Energy (TRP.TO) fell 0.2% as the U.S. pipeline regulator said the oil services provider would be required to reduce operating pressure on its Keystone pipeline that spilled oil in rural Kansas in December.

Feb 1 (Reuters) - North American pipeline operator TC Energy Corp (TRP.TO) on Wednesday raised its cost estimate more than expected for completing its troubled Coastal GasLink project, sending share prices sharply lower. The company attributed the cost increase to a labor shortage, poor work by contractors and adverse weather. TC is looking to sell C$5 billion worth of assets this year to raise funds to repay debt and pay for projects including Coastal. TC Energy raised its overall 2023 capital expenditure outlook to C$11.5 billion-C$12 billion from C$9.5 billion earlier, partly due to Coastal's higher costs. An impairment will be recognized to TC Energy's equity investment in Coastal in its fourth-quarter results scheduled for Feb. 14, the company said.

☆ Keystone Pipeline to Fully Restart After Oil Spill, Repairs
▼ + stars: | 2022-12-30 | by ( Benoît Morenne | ) www.wsj.com time to read: 1 min

The operator of the Keystone oil pipeline said it was moving to fully reactivate the system, ending a weekslong outage that pressured U.S. oil prices and complicated some Gulf Coast refiners’ operations. TC Energy Corp. said Thursday that it had completed repairs, inspection and testing on the pipeline and that the system was now operational to all delivery points. It had said last week that it had received approval from the U.S. Pipeline and Hazardous Materials Safety Administration to restart a 300-mile branch linking Steele City, Neb., to the main U.S. oil storage hub in Cushing, Okla.

☆ TC Energy says Keystone pipeline returns to service
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

Companies TC Energy Corp FollowDec 29 (Reuters) - Canadian pipeline operator TC Energy Corp (TRP.TO) said on Thursday it had completed a controlled restart of its Keystone crude oil pipeline to Cushing, Oklahoma, safely returning the pipeline to service after a 21 day outage. "The Keystone Pipeline System is now operational to all delivery points," the company said in a statement, while operating "with additional risk-mitigation measures, including reduced operating pressures." TC Energy did not publicly identified the cause of the spill. Under terms of PHMSA's corrective action order issued to TC after the spill, the company must operate at 20% lower pressure along the segment that ruptured once it returns to service until it receives further regulatory approval. The pipeline has had 12 significant incidents in as many years of its life, including major spills in 2017 and 2019, according to the Pipeline Safety Trust, a watchdog group.

☆ TC Energy says Keystone Pipeline operational to all delivery points
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: 1 min

Companies TC Energy Corp FollowDec 29 (Reuters) - TC Energy Corp (TRP.TO) said on Thursday it had completed a controlled restart of its Keystone pipeline's extension to Cushing, Oklahoma, and the pipeline was now operational to all delivery points. The 622,000-barrel-per-day (bpd) pipeline was shut on Dec. 7 after it spilled 14,000 barrels of oil in rural Kansas, the biggest U.S. spill in nine years. "The Keystone Pipeline System is now operational to all delivery points," the company said in a statement, while operating "with additional risk-mitigation measures, including reduced operating pressures." Reporting by Seher Dareen and Deep Vakil in Bengaluru; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

SINGAPORE, Dec 29 (Reuters) - Oil prices dipped on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer. Brent futures for February fell 26 cents, or 0.3%, to $83.00 a barrel by 0430 GMT, while U.S. crude fell 26 cents, or 0.3%, to $78.70 a barrel. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. However, that comes as an Arctic freeze has forced some oil refining facilities offline, backing up crude supplies. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap.

☆ Oil prices ease, China COVID spike hurts demand outlook
▼ + stars: | 2022-12-29 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

Dec 29 (Reuters) - Oil prices ticked down on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand in the world's second-biggest oil consumer. Brent futures for February delivery fell 42 cents, or 0.5%, to $82.84 a barrel, by 0123 GMT, while U.S. crude fell 50 cents, or 0.6%, to $78.46 per barrel. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. Also weighing on prices, pipeline operator TC Energy said it was working to restart the portion of the Keystone pipeline that was forced shut after a leak earlier this month. Germany said the ban has "no practical significance" as the country has been working since spring to replace Russian oil supplies and ensure security of supply.

☆ Oil drops on China uncertainty; U.S. demand limits decline
▼ + stars: | 2022-12-29 | by ( Shariq Khan | ) www.reuters.com time to read: +3 min

Brent crude futures for February delivery fell by a dollar to settle at $82.26, down 1.2%. U.S. crude oil inventories rose unexpectedly last week as imports climbed and exports fell, the Energy Information Administration (EIA) said on Thursday. Despite the surprise build in crude oil stocks, the report itself was "positive" and showed a "solid rebound" in implied oil demand, resulting in large draws of refined products, said Giovanni Staunovo of Swiss bank UBS. A weaker dollar makes oil cheaper for holders of other currencies. Shutdown of the line hit supplies in the U.S. and briefly lifted oil prices, although there was little change to either benchmark after settlement.

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