23:27:47 EDT Sat 11 Jul 2020
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Canadian Natural Resources Ltd
Symbol CNQ
Shares Issued 1,184,355,541
Close 2019-11-07 C$ 36.98
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FP/wires say CNRL's McKay sees Keystone in service soon

2019-11-08 08:45 ET - In the News

The Financial Post reports in its Friday, Nov. 8, edition that the Keystone crude oil pipeline may return to service within a couple of weeks, based on past spills, said Canadian Natural Resources Tim McKay on Thursday. Dispatches from Reuters and Bloomberg to the Post report that Keystone, operated by TC Energy, moves 590,000 barrels per day of crude from Alberta to U.S. Midwest refineries. The line spilled at least 9,000 barrels in rural North Dakota on Oct. 29. Mr. McKay said: "The 2017 [Keystone leak] incident took about 10 to 15 days for it to come back. If it is on a similar path to what it was in 2017, it should be on in the next couple of weeks." Analysts have said they expected Keystone to be off-line for 10 or 12 days, back on-line by Nov. 10. A U.S. regulator on Tuesday ordered that a segment of Keystone remain shut until TC Energy submits a restart and return-to-service plan because of the hazards posed. Mr. McKay said the outage has had "very little impact" on Canadian Natural. The discount on Western Canada Select heavy crude widened on Thursday to $22.75 (U.S.) per barrel below the North American benchmark, the biggest in 11 months, according to Net Energy Exchange.

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