The Government of Canada has reached an agreement with Kinder Morgan to buy the Trans Mountain Expansion Project and related pipeline and terminal assets for US$3.5 billion (C$4.5 billion), as the federal government stepped in to save the project after British Columbia’s fierce opposition to the project was threatening to derail it.
Tag Archives: Canada
Canada’s oil patch booked three consecutive years of hefty losses after the oil prices crash in 2014. This year, the industry is set to post a very slim gross profit—the first profit in four years. Despite the expectation that the tide is finally turning for Canada’s oil producers, significant challenges remain, with constrained pipeline capacity and limited capability to expand export markets the biggest of them all, the Conference Board of Canada said in a report last week.