TC Energy launches South Bow Corp. as independent crude oil pipeline business

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 68 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 40%
  • Publisher: 63%

Oil Pipelines Nouvelles

South Bow,TC Energy,South Bow Corp.

CALGARY — TC Energy Corp. has completed its spinoff of South Bow Corp., its crude oil pipelines business, as an independent company.

The new company, which will be headquartered in Calgary with an office in Houston, will be led by Bevin Wirzba, formerly the executive vice-president for TC Energy's natural gas and liquids pipelines business.

Spinning off the oil pipelines business, which has long-term committed contracts with oil shippers, will give South Bow the chance to use its robust cash flows to pay down debt and enhance shareholder returns, while TC Energy will become a growth-oriented company focused on natural gas. The company has been under scrutiny by analysts and credit ratings for its significant debt load as well as for cost overruns on the Coastal GasLink pipeline project, which was completed in the fall of 2023.

South Bow's common shares are expected to start trading on the Toronto Stock Exchange on Wednesday under the ticker symbol SOBO. Trading on the New York Stock Exchange is expected to start on or about Oct. 8.While COVID-19 is known for its impact on the respiratory system new research suggests the virus may also increase the risk of acute kidney disorders.

Super-indie Fremantle has made a strategic shift to center premium film productions within its global business model, global drama exec Seb Shorr said this morning during a keynote at Iberseries and Platino Industria in Madrid. Shorr, joined by Fremantle’s Mexican Head of Scripted Manuel Martí, and Olivia Sleiter, Head of Production at Fremantle Italy, said …Deal Projected to Generate 115 Million Reais in Cash Savings Over the Next 24 MonthsSINGAPORE, Oct.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 47. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

TC Energy launches South Bow Corp. as independent crude oil pipeline businessTC Energy Corp. has completed its spinoff of South Bow Corp., its crude oil pipelines business, as an independent company.
La source: CTVCalgary - 🏆 26. / 68 Lire la suite »

TC Energy launches South Bow Corp. as independent pipeline businessThe new company, which will be headquartered in Calgary with an office in Houston, will be led by Bevin Wirzba.
La source: GlobalCalgary - 🏆 50. / 61 Lire la suite »

TC Energy launches independent crude oil pipeline businessTC Energy Corp. has completed its spinoff of South Bow Corp., its crude oil pipelines business, as an independent company.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »

Energy minister says public money could help finance Alberta energy cleanupEDMONTON — Alberta's energy minister is promising strong action to clean up the province's growing backlog of unreclaimed oil and gas sites.
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Energy minister says public money could help finance Alberta energy cleanupEDMONTON — Alberta's energy minister is promising strong action to clean up the province's growing backlog of unreclaimed oil and gas sites.
La source: SooToday - 🏆 8. / 85 Lire la suite »