Trans Mountain Oil Pipeline NEWS

The Canadian government-owned Trans Mountain pipeline has been shut down since early Saturday following an oil spill at a pump station in British Columbia. The pipeline crew are responding to a release at its Sumas Pump Station in Abbotsford, British Columbia, after an alarm was received early in the morning, Trans Mountain Corp said in a statement. The spill has been contained and cleanup is underway, the company said.

Canadian pipeline major, Kinder Morgan yesterday released its quarterly report, with a quarterly profit that nearly halved from the last time. The lower profit was owed to the firm moving lower volumes of crude oil through its pipeline, and obviously, due to the pending sale of Trans Mountain pipeline with the Canadian government. Net income dropped to C$13.7 million, from C$25.1 million, a year earlier.

The Canadian Government yesterday announced that it will buy the controversial Kinder Morgan Canada Ltd’s Trans Mountain oil pipeline for $3.5 billion. Canada has been firm on building the pipeline right from the beginning. The project has been affected by legal uncertainty and continued protests from environmental groups and the province of British Columbia. The expansion would almost triple the capacity to 890,000 bbl of oil.