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Wednesday, July 16, 2008

TransCanada-ConocoPhillips to double capacity of Canadian crude line to 1.1M barrels per day.

IHT, July 16, 2008 - “Two major energy companies will spend $7 billion to nearly double the amount of crude flowing through a pipeline from Canada’s tar sands to the U.S. Gulf Coast, highlighting intense demand for crude that was once too expensive to pull from the ground and process. Alberta, Canada-based TransCanada Corp. and Houston-based ConocoPhillips Co. said Wednesday they will add 500,000 barrels of daily capacity to the Keystone Pipeline, a 1,980-mile (3,186- kilometer) project connecting Hardisty, Alberta with a delivery point near existing terminals in Port Arthur, Texas.” Read more.

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