Transportation

Canada's Trans Mountain Oil?pipeline is expected to be?almost completely full in April. This marks an important milestone for the conduit, which has seen a record-breaking level of usage since the C$34 billion expansion last year. The 890,000-barrel-per-day pipeline, which carries oil from the province of Alberta to British Columbia's west coast, is running near maximum capacity, said Trans Mountain ?CEO Mark Maki. Maki stated that the Iran War has caused disruptions in Middle East oil supply, which have led to an increase in demand for Canadian oil, particularly from Asian buyers, including China. Maki stated in Houston, at the CERAWeek...

Mark Carney, the Prime Minister of Canada, criticized Air Canada CEO Michael Rousseau on Wednesday for not expressing his condolences in French after a fatal crash. Carney told reporters he thought?Rousseau showed a 'lack of judgment' and that the airline board would make a statement. Air Canada's jet crashed into a firetruck on Sunday evening as it was landing at New York LaGuardia Airport, killing the two pilots. Air Canada is bilingual but?Rousseau, an English native speaker, released a 4-minute video with only two words in French. The language committee of Parliament voted to summon him on Tuesday to Ottawa...

Trans Mountain, a Canadian company, launched a?bidding process? on Wednesday to secure firm transportation contracts for its pipeline system. The "Open Season", a process to gauge interest from the commercial community in possible projects to increase system capacity, runs from April 7 through June 2. The company stated that the Open Season will result in 80 to 90 percent of its 890 000?barrels a day (bpd), pipeline system, being contracted. This includes shipments between Edmonton, Alberta, and delivery locations in British Columbia. The Canadian government owns the 'Trans Mountain Pipeline,' which transports oil from Alberta to British Columbia on the...

Investors seized on signs of progress in a Middle East conflict to boost futures linked to Canada's stock market index. As of 06:18 a.m., June futures - on the S&P/TSX composite index - were up 1.2%. ET (1018 GMT). Oil prices fell and global stocks rose on reports that the U.S. was seeking a ceasefire for a full month in its war with Iran. A 15-point plan had been sent to Tehran, increasing hopes of a breakthrough which could help restore the oil supply from the Gulf. The prospect of a ceasefire in hostilities, even though the Iranian military denied...

A U.S. Judge on Tuesday ordered President Donald Trump’s administration to temporarily unfreeze approximately $3 billion in funding in Chicago for rail projects. On Friday, the?Chicago Transit Authority filed a lawsuit against?the U.S. Transportation Department's Federal?Transit Administration. The suit claimed that federal officials had refused to reimburse at least $9.5 millions in grants approved by former Democratic President Joe Biden. The city called the funding suspension a political act of retaliation. U.S. district judge Thomas Durkin granted CTA's request to issue a temporary restraining?order?to demand the funding, but put his decision on hold until this Friday in order to give...

A White House official revealed on Tuesday that the Trump administration was working with Canada to obtain the permits required for a proposed revival part of Keystone XL's oil pipeline. If the pipeline is built, it could increase Canada's crude oil exports to America by over 12%. Keystone XL, the project that was cancelled under the administration of?former President Joe Biden', is permitted in Canada, but a Presidential permit will be required for the pipeline to cross Canada-U.S. borders. The state regulatory permits are also required. The official stated that "the President's energy team worked diligently with our Canadian partners...

Canada's Natural Resource Minister Tim Hodgson revealed Tuesday that Canadian officials met with Trump administration representatives in Houston to discuss a?"proposed revival" of a canceled Keystone XL pipeline. Hodgson and Canada's ambassador to the 'U.S.', Mark Wiseman discussed the project proposed by Canadian Pipeline Company South Bow and their U.S. Partner Bridger Pipeline, which could increase Canada’s crude exports into the U.S. Hodgson, in an interview given at the CERAWeek conference by S&P Global, said that Canada is framing the prospect for a new oil pipeline across the border as a means to help the U.S. maintain energy security despite...

Energy Minister Yerlan AKkenzhenov announced on Tuesday that Kazakhstan's crude oil production had been restored - following a disruption in loading at the CPC pipeline in _December and January. Akkenzhenov, speaking on the sidelines of the Conference, said that the country was "very dependent" on the CPC Pipeline and it was important to keep it away from sanctions and attacks. Tengiz, the oilfield that accounts for 40% of Kazakhstan's production, was unable to produce crude oil due to power outages and Ukrainian drone attacks. The minister stated that Kazakhstan now produces 1.7 million barrels of crude oil per day, plus...

The short-lived relief that came from President Donald Trump's five day pause in strikes against Iran's infrastructure for energy has faded, and investors are still gripped by the uncertainty surrounding the 'war' in the Middle East. As of 6:02 a.m. ET, June futures for the S&P/TSX Composite Index were down by 0.5%. ET (1002 GMT). Oil prices rose on Friday on concerns about supply after Iran denied having talks with the U.S. on ending the Gulf War, contradicting Trump’s statements that a deal might be reached soon. The war, now in its fourth week has brought the Strait of Hormuz...

Gulf Coast reexports of Canadian heavy crude oil will rise significantly in the next decade, thanks to pipeline projects that are approved and planned to transport more oil from Canada into the U.S. Colin Gruending said that the opening of Canada’s Trans Mountain pipeline by 2024 will redirect a large share of Canada’s crude oil exports to British Columbia’s Pacific Coast and away from U.S. Gulf Coast Terminals. Enbridge's expansion plans for its Mainline crude oil pipeline network mean that some of Canada's newly-found export capacity will go through the Gulf of Mexico to reach international markets. Gruending stated that...

California Attorney -General Rob Bonta announced on Monday that he had'sued' the U.S. Department of Energy for using a 'cold war era -law to restart the long disputed Sable Offshore pipeline system connecting the Santa Ynez off-shore platform to California refineries. U.S. Energy Secretary Chris Wright restarted pipelines earlier this month using powers granted by President Donald Trump via an executive order which invoked the Defense production Act?to override state laws. "We will not let this outrageous federal overreach pass without a fight," Bonta said at a Monday press conference. Bonta claimed Wright's restart orders violated state law, state court...

Middle Eastern and Asian investors have shown early interest in a new crude oil pipeline project in Canada. They could become minor owners of the project, said Alberta Premier Danielle Smith on Monday. Alberta, Canada's main oil-producing province, has been exploring the feasibility of a new one-million-barrel-per-day crude oil pipeline to British Columbia's northwest coast to increase exports to Asia, but no private-sector company has committed to building a new pipeline yet. Canadian oil companies are hoping to increase sales in Asia over the next few years in order to diversify their business away from the United States. The United...

Hungary has banned the gas transmission system operator of Hungary from holding auctions for shipments to Ukraine during the third quarter as it moves to reduce supplies to its neighbor in a dispute over oil flows. On Wednesday, Prime Minister Viktor Orban said that Hungary will gradually stop sending gas to Ukraine once oil flow to Hungary is restored through the Druzhba Pipeline. Hungary and Slovakia, who are the only countries in Europe to maintain relations with Moscow, have blamed Kyiv for a failure of?the Druzhba Pipeline, which supplies their refineries through Ukraine with Russian crude. Kyiv claims that a...

After the U.S. and Israeli air strikes on?Iran are over, a new competition is likely to begin: the race for contracts to repair damaged oil and gasoline infrastructure and to restore?shipping routes - and influence – across the Middle East. The destruction does not stop in Iran. Fatih Birol, head of the International Energy Agency, warned that at least 40 energy assets in nine Middle Eastern countries have been "severely" or "very severely" damaged. Oil and gas fields, refineries, and pipelines will all take time to be repaired, he said. The crisis is worse than both oil shocks in the...

Energy Minister Alparslan bayraktar stated on Wednesday that despite the Iran conflict, Turkey's dependence on Middle East crude oil is at a "manageable and minimal" 10% of total supplies. On a programme of the state-run Anadolu Agency, he stated that the war caused a "crisis in global energy security". He added that Turkey, as a "large energy importer" and a neighbor to Iran, has taken steps to diversify its energy supply. Bayraktar said that a $1 rise in the price per barrel of oil cost Turkey $400 million. When asked about the natural gas supply, Bayraktar replied that there have...

Ukraine increased its attacks on Russian energy installations in recent weeks, as peace talks failed to progress. The following is a brief summary of the attacks and their impact. SARATOV RIFFINERY Sources claim that the Saratov oil refining plant, controlled by Rosneft was 'hit by a drone' on March 21. Its crude?distillation? unit has been closed since then. The refinery will process 5.8 million tons of oil in 2024, which is 2.2% of the total Russian oil refining. ILSKY REFINERY On February 17, a fire broke out in the Ilsky Oil Refinery, located in southern Russia. The cause was drone...

Volodymyr Zelenskiy, the president of Ukraine, said on Monday that Ukraine was interested in importing Mozambican liquefied gas, because it "struggles" to meet its energy requirements after years of Russian attacks against its production infrastructure. Prior to the war, Ukraine produced almost all its own gas. Andriy Pyshnyi, Central Bank governor of Ukraine, said that the Russian attacks have caused Ukraine to lose about half of its gas production. In the?autumn of last year, Russia intensified their attacks on Ukrainian gas facilities. Most are located in the?frontline areas in northeast and central Ukraine. Zelenskiy, who met with the President of...

Data released on Friday showed that a barrage of Ukrainian drone strikes against Russia's Black Sea oil export facilities as well as severe storms and ice conditions in Baltic Sea affected Russian oil exports. The United States issued a waiver on Thursday for countries to purchase sanctioned Russian crude oil and petroleum products that were stranded in the sea. This was done to stabilize global energy markets, which had been roiled by war with Iran. The easing of U.S. sanctions may not have a major impact on Russia's oil production due to the drone attacks and the bad weather. The...

The International Energy Agency reported on Thursday that Russia's crude-oil?and refined products?and revenues decreased in February to reach their lowest levels?since the onset of the Ukraine conflict 2022. Russia's commodity revenue is a crucial?part of state budget proceeds, and it is?needed to support increasing military expenditures. Since the beginning of the Iran War at the end of February, Russian oil prices have increased. The Paris-based IEA reported that Russia's crude exports decreased by 410,000 barrels a day from January to 4.2 millions?barrels a day. The drop was caused by the?reduction of exports to India after 'Washington discouraged Russia from cooperating...

Officials said that Hungary sent a fact finding?mission to Ukraine on Wednesday to investigate the Druzhba?pipeline?outage. Budapest is looking to restart the?flows?of oil amid rising global prices linked to the Middle East war. Since January, when oil flow stopped in the Druzhba Pipeline, Budapest and Kyiv have been locked in a diplomatic conflict. Viktor Orban has given a prominent place to his anti-Ukrainian rhetoric in his campaign for an April 12 election. Hungary blocked a new EU sanction against Russia, as well as a large loan to Ukraine due to the dispute. In a recorded Facebook statement, Gabor Czepek, the...

An official ticketing office said in Beijing on Tuesday that tickets for the first passenger trains?in six-years from Beijing to Pyongyang's capital were sold out before its departure date of?March 12?. The return of rail service suspended in 2020 due to the COVID-19 pandemic, restores an important transport link between North Korea and its main economic ally. According to the Beijing ticketing office, entrepreneurs, government officials, and journalists purchased tickets for the trip, which was restricted to those with business visas. Tickets are still available for the service scheduled for 18 March. North Korea is still largely closed to tourists...

Viktor Orban, Hungary's prime minister, called for the European Union on Monday to suspend sanctions on Russian energy and convened a government emergency meeting.to address rising fuel costs.just five weeks prior to a pivotal election. The war in Iran has fueled a rise in oil prices that have pushed up diesel and petrol costs in Hungary. Orban is now facing a challenge as he prepares for parliamentary elections on April 12, where he will be fighting to maintain his 16-year hold on power. Orban's Fidesz is trailing the centre-right Tisza despite having launched a series of measures that have increased...

Azerbaijan has said that it prevented several "terrorist" sabotage plots by Iran's Islamic?Revolutionary?Guard?Corps (IRGC), which included a plot to target a major oil pipeline running -through the South –Caucasus and into?Turkey. According to the Azertag news agency, a statement from the State Security?Service late Friday night, targets included the Baku, Tbilisi, Ceyhan (BTC), oil pipeline and the Israeli Embassy in Azerbaijan. Also, there was an Ashkenazi Synagogue as well as a leader of an ancient Jewish group in Azerbaijan known by the Mountain Jews. Iran has not responded to the statement. BTC is a pipeline that travels through?Georgia, Turkey, and...

The schedule showed that the differentials between dated Brent and Urals crude jumped in 'the Indian market due to supply shortages brought on by 'the conflict in Iran. Meanwhile, exports of Azeri BTC from Ceyhan were expected to increase next month. Reports on Thursday indicated that traders are selling Russian Urals at a premium to Brent of $4-5 per barrel upon arrival in Indian ports between March and April. This is after the United States granted Indian refiners an 'waiver' to resume purchasing Russian oil. Calculations on Friday showed that the grade's discount on Brent at the Russian Baltic Sea...