Energy Biz Review: TransCanada’s Project on the Docket, Canadian Natural Resources Shut Down
TransCanada’s (NYSE:TRP) $7 billion project might be pushed through the House of Republicans after President Obama blocked the approval of the Keystone pipeline from using a highway-funding bill, last month. A key House panel will vote today on attaching approval to the highway bill. If that fails, they may try to tack it to must-pass payroll tax cut legislation instead.
Don’t Miss: BP Prepares for Litigation.
InterOil (NYSE:IOC) shares jump after the Wall Street Journal reports Korea Gas is building a consortium that will partner with InterOil to get its Papua New Guinea natural gas project off the ground. InterOil, will seek partners and sell a stake in a $6 billion natural gas processing plant as part of the deal. It may also sell stakes in local gas discoveries.
Canadian Natural Resources (NYSE:CNQ) will shut down the fourth largest tar sands mining and crude oil processing facility in the country for two to three weeks after a maintenance check on the company’s plant, according to a source.
Plains Exploration & Production (NYSE:PXP) gains after releasing its preliminary fiscal year 2011 results. Daily sales volume climbed 13% in the fourth quarter, including 12% growth in oil and liquids volume, driven by solid production from its Eagle Ford and Haynesville shale stakes.
Investing Insights: Gold and Silver Finish Higher After Bernanke Speaks to Congress.
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