TC Energy issues Keystone force majeure, cuts November shipments (NYSE:TRP)

Three Pipeline Reflecting Blue Sky

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TC Energy (NYSE:TRP) said Tuesday its 622K bbl/day Keystone oil pipeline will reduce shipper volumes after issuing a force majeure notice following a series of recent severe weather-related impacts to system facilities.

The company did not provide details on the size or duration of the curtailment, citing customer confidential information, but Reuters reported some market sources said volumes had been lowered by 7%.

Western Canada Select heavy blend crude for December delivery reportedly settled at $28.60/bbl below U.S. crude futures, after trading at $28.85/bbl on Monday.

TC Energy (TRP) said in October it planned to temporarily raise capacity on the pipeline that runs from Alberta to the U.S. Gulf coast for a few months starting this month.

TC Energy (TC) “a large Canadian midstream company that’s seeing respectable growth” and pays a strong dividend yield, Gen Alpha writes in an analysis published on Seeking Alpha.

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