Pembina to Buy Kinder Morgan’s Oil Assets for $3.3 Billion

[Tom Kirkman + 8,860]

Timing is interesting, ahead of Canada's federal election in October.  I believe Trudeau and the far left will not remain in power.  And I see the Canadian pendulum swinging back toward being more pro-oil & gas, away from the Trudeau-led, hugely expensive, climate scaremongering against oil & gas.

 

Pembina to Buy Kinder Morgan’s Oil Assets for $3.3 Billion

(Bloomberg) -- Pembina Pipeline Corp. increased its bet on the future of Canada’s turbulent oil-sands industry, agreeing to buy Kinder Morgan Inc.’s Canadian unit and the U.S. portion of a key pipeline for about C$4.35 billion ($3.3 billion).

The deal makes Pembina a major player in the oil-storage business, giving it 10 million barrels of capacity in the crude complex near Edmonton, Alberta, a key hub for oil-sands producers. With the takeover of Kinder’s Cochin Pipeline system, Pembina also becomes a key provider of the condensate that oil-sands companies need to blend with their thick crude to enable it to flow through pipelines.

The acquisition is a major bet on the future of the oil sands at a time when delays to key export pipelines have hampered the industry’s ability to expand and forced the Alberta government to support Western Canadian heavy crude prices with unprecedented production limits, which it extended for another year on Tuesday. The deal also continues a flight of international capital out of the oil sands, following major divestitures from ConocoPhillips and Royal Dutch Shell Plc in recent years.  ...

[Ian Austin + 131]

On 8/21/2019 at 8:47 PM, Tom Kirkman said:

Timing is interesting, ahead of Canada's federal election in October.  I believe Trudeau and the far left will not remain in power.  And I see the Canadian pendulum swinging back toward being more pro-oil & gas, away from the Trudeau-led, hugely expensive, climate scaremongering against oil & gas.

 

Pembina to Buy Kinder Morgan’s Oil Assets for $3.3 Billion

(Bloomberg) -- Pembina Pipeline Corp. increased its bet on the future of Canada’s turbulent oil-sands industry, agreeing to buy Kinder Morgan Inc.’s Canadian unit and the U.S. portion of a key pipeline for about C$4.35 billion ($3.3 billion).

The deal makes Pembina a major player in the oil-storage business, giving it 10 million barrels of capacity in the crude complex near Edmonton, Alberta, a key hub for oil-sands producers. With the takeover of Kinder’s Cochin Pipeline system, Pembina also becomes a key provider of the condensate that oil-sands companies need to blend with their thick crude to enable it to flow through pipelines.

The acquisition is a major bet on the future of the oil sands at a time when delays to key export pipelines have hampered the industry’s ability to expand and forced the Alberta government to support Western Canadian heavy crude prices with unprecedented production limits, which it extended for another year on Tuesday. The deal also continues a flight of international capital out of the oil sands, following major divestitures from ConocoPhillips and Royal Dutch Shell Plc in recent years.  ...

Tom,

I wish I could agree with you. Problem is Trudeau has weak opposition. Scheer wont win this election on his own - the only chance is hoping Trudeau talks himself out of power, which is a possibility. 

Right now, the most likely scenario is a Minority for one party or the other - that means the crazy Greens or NDP would hold the balance of power. 

[footeab@yahoo.com + 2,187]

6 minutes ago, Ian Austin said:

Tom,

I wish I could agree with you. Problem is Trudeau has weak opposition. Scheer wont win this election on his own - the only chance is hoping Trudeau talks himself out of power, which is a possibility. 

Right now, the most likely scenario is a Minority for one party or the other - that means the crazy Greens or NDP would hold the balance of power. 

I cannot agree with Tom either.  My family in Alberta... sure, but everyone else?  Lunatics in BC, Ontario and Quebec, and not even my 240 year dead great great great great.... grand parents whose children immigrate to the USA from Newfoundland can vote.....