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Top related persons:
Ryan Bushell - 3 Enbridge - 2 Rod Nickel - 2 Denny Thomas - 2 Marguerita Choy - 2 Stephen Ellis - 2 Anil D'Silva - 2 Justin Trudeau's - 1
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Newhaven Canada Calgary Alberta Trans Pembina U.S Gulf
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Newhaven Asset Management - 3 TC Energy - 3 Thomson - 3 Keystone - 2 TC - 2 Ottawa - 1 Justin Trudeau's Liberal - 1 Trans Mountain Corp - 1

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4 mentions found


☆ Analysis: Canada may struggle to recoup $26 billion cost of Trans Mountain pipeline
  + stars: | 2023-10-12 | by ( Nia Williams | ) www.reuters.com   time to read: +5 min
Prime Minister Justin Trudeau's Liberal government bought Trans Mountain in 2018 for C$4.5 billion to rescue the expansion project, which has struggled with years of regulatory delay and massive cost overruns. A Reuters survey of five analysts and investors valued Trans Mountain between C$15 billion and C$25 billion, based on factors including projected earnings and oil shipping tolls. Trans Mountain Corp (TMC) CEO Dawn Farrell told local media last week the sale could wrap up by early 2025, just as Canada heads into a federal election. Trans Mountain offers strategic value as it is the only pipeline taking crude from Canada's oil patch to the Pacific, and on to Asian refining markets. "It's hard to imagine...that a pipeline like Trans Mountain would ever be built again," Poscente said.
Persons: Justin Trudeau's, Ryan Bushell, Dawn Farrell, Michael Dunn, Paul Poscente, Poscente, Pembina, Scott Burrows, Enbridge, Marc Weil, Dave Szybunka, Szybunka, Rod Nickel, Steve Scherer, Denny Thomas, Marguerita Choy Organizations: Ottawa, Justin Trudeau's Liberal, Reuters, Newhaven Asset Management, Trans Mountain Corp, Mountain, Cenovus Energy, Nations, Axxcelus, Chinook, Pembina Pipeline Corp, Indigenous Pipeline, TC Energy, Keystone, TC, Canoe Financial, Thomson Locations: Canada, Alberta, Trans, Newhaven, Pembina, U.S, Gulf, Calgary, Winnipeg, Ottawa
☆ Enbridge dives as $14 bln Dominion deal sparks debt concerns
  + stars: | 2023-09-06 | by ( Mrinalika Roy | Thomson Reuters | Mrinalika Is A Business Reporter. She Has Covered The Energy | ) www.reuters.com   time to read: +4 min
The logo of Calgary-based Enbridge, one of North America's largest energy infrastructure companies, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. Analysts, however, were surprised at the timing, the scale and impact such a deal would have on the company's already leveraged balance sheet. "I don't see how you can keep piling more issuance - debt and equity - on this company at these rates. Enbridge shares provisionally closed down 5.9% at C$45.31, while the benchmark Canadian share index was off 0.9%. "While Enbridge paid a reasonable price, high leverage and funding gap could act as overhang," Wells Fargo analysts said in a note.
Persons: Chris Helgren, Ryan Bushell, Enbridge, Greg Ebel, Morningstar, Stephen Ellis, Ellis, Wells, Alan Armstrong, Mrinalika Roy, Nia Williams, Denny Thomas, Anil D'Silva, Alexandra Hudson, Devika, Marguerita Choy Organizations: REUTERS, Dominion Energy, Ohio Gas, Public Service Co, Newhaven Asset Management, Management, TC Energy, Williams Companies, Barclays CEO Energy, Power Conference, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, North Carolina, North America, Newhaven, Enbridge, New York, Bengaluru
☆ TC Energy shares sink on plans to spin off oil pipeline business
  + stars: | 2023-07-28 | by ( Rod Nickel Arshreet Singh | Rod Nickel | Arshreet Singh | ) www.reuters.com   time to read: +3 min
Companies TC Energy Corp FollowJuly 28 (Reuters) - Shares of TC Energy (TRP.TO) fell nearly 5% on Friday after the Keystone pipeline operator said it would spin off its liquids business to focus on transporting natural gas. But TD Securities downgraded TC to "hold" from "buy", saying it was skeptical the spinoff would create value. TC CEO Francois Poirier said TC needed to sell another C$3 billion in assets during the next 18 months to reach its 4.75 times debt to EBITDA target. TC had 5.4 times debt to EBITDA last year and is aiming to reduce that to 5 times this year. TC's Keystone pipeline in December spilled more than 14,000 barrels of oil in Kansas.
Persons: Linda Ezergailis, Ryan Bushell, Bushell, Francois Poirier, TC, Brandon Thimer, Poirier, It's, ” Poirier, Stephen Ellis, TC's, Joe Biden, Arshreet Singh, Rod Nickel, Anil D'Silva, Mark Potter Organizations: TC Energy, Keystone, Columbia, Transmission, TC, Securities, Newhaven Asset Management, Investment, National Bank of Canada, Morningstar, Thomson Locations: Toronto, Columbia, Newhaven, United States, Kansas
☆ Canadian oil companies, lighter in debt, have cash to spare despite falling prices
  + stars: | 2022-12-09 | by ( Rod Nickel | Thomson Reuters | Covers Energy | ) www.reuters.com   time to read: +3 min
Oil companies are facing faltering prices and Canadian firms are also absorbing an unusually punishing discount for their heavy-grade crude. Net debt represents a company's gross debt minus cash and cash-like assets. It faced an existential threat in 2020 when the COVID-19 pandemic crushed oil prices. Canadian producers also absorb a $29 per barrel discount due to distance from U.S. refineries and lower heavy oil demand. If oil prices dip below $65, companies may tighten spending but opt to reduce capital budgets before shareholder returns, Bushell said.
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