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Canada's Keystone Pipeline Declares Force Majuere

OIL

Canada’s 622,000 bpd Keystone oil pipeline is set to slow volumes due to recent severe weather events which have impacted system facilities.

  • The company said they informed customers on Monday of the force majeure. Keystone ships Canadian crude from Alberta to the U.S. Midwest and on to the Gulf Coast.
  • "The notices informed customers that effective as of Nov. 15, the Keystone System will be required to curtail volumes due to the time the system was slowed during the force majeure event," TC said in a statement.
  • Reuters sources placed the reduction in volumes at 7% so far. It is not clear how long the reduction will last for.
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