New York Gov. Andrew Cuomo said in an executive order calling for more oversight on rail transit of crude oil that it’s “historically safer” than road transport. With more oil coming from the Bakken play in North Dakota, he said he was concerned about safety along New York’s rail network. Between the lines, his order may suggest domestic pipelines could be the solution to the U.S. midstream bottleneck.
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CALGARY — Private investment funds are putting up $330 million to create a new Calgary-based midstream company to take advantage of a surge in unconventional gas development in Western Canada.
Kanata Energy Group Ltd. announced Thursday that Calgary-based ARC Financial Corp., Energy Spectrum Capital of Dallas and the private investment department of the Ontario Teachers’ Pension Plan had contributed.
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CALGARY— Midstream services provider Gibson Energy Inc. of Calgary is spending $445 million US to buy a private Louisiana-based competitor with about 1,100 employees, it announced Thursday.
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