The Financial Post reports in its Friday edition that TC Energy surprised oil markets with approval for new pipeline capacity on its existing Keystone pipeline connecting Alberta to U.S. Gulf Coast refineries. The Post's Geoffrey Morgan writes that TC Energy confirmed Wednesday evening that it received a new presidential permit from Donald Trump to increase flows through its existing Keystone pipeline, which was built a decade ago to move 591,000 barrels of oil per day out of Alberta to the Texas refineries. The company can now increase the flow of oil to 761,000 bpd, which TC says is the design capacity of Keystone. The company has signed 20-year contracts to move another 50,000 bpd beginning next year, which will not require new pumping stations or investments to move. "The new permit will allow us to respond to market demand and fully utilize the Keystone pipeline system to safely deliver additional crude oil from Canada to refining centres in the U.S. Midwest and the Gulf Coast," TC Energy chief Russ Girling told analysts Thursday. However, analysts say TC Energy will likely need to invest in some pumping stations or possibly in pipeline loops in order to scale the system up beyond the 50,000 bpd phase.