TransCanada’s Gulf Coast Pipe to Start Oil Shipments Next Month
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TransCanada Corp. will start oil deliveries to Texas through the southern portion of its Keystone pipeline next month, helping alleviate a bottleneck in the Midwest that’s kept U.S. crude below international prices.
TransCanada’s Gulf Coast pipeline will carry as much as 700,000 barrels a day to Port Arthur from Cushing, Oklahoma, the delivery point for U.S. benchmark West Texas Intermediate oil. The company disclosed its plan to start service on Jan. 3 in a filing with the Federal Energy Regulatory Commission. The pipeline will ship an average of 520,000 barrels a day during its first year before reaching its full capacity, said Shawn Howard, a spokesman for the Calgary-based company.