Wednesday, March 29, 2017

TransCanada Posts Smaller Quarterly Loss

Posted by February 16, 2017

File Image (CREDIT: AdobeStock)

TransCanada Corp, Canada's No. 2 pipeline operator, reported a smaller quarterly loss from a year earlier, when it booked a C$2.9 billion ($2.23 billion) impairment charge on its Keystone XL oil pipeline.

 
The company's net loss attributable to shareholders narrowed to C$358 million, or 43 Canadian cents per share, in the fourth quarter ended Dec. 31 from C$2.46 billion, or C$3.47 per share, a year earlier.
 
The latest quarter included charges of about C$1 billion.
 
U.S. President Donald Trump last month cleared the way for TransCanada's proposed Keystone XL pipeline from the Alberta oil sands to U.S. refineries, after it was rejected in 2015 by then-President Barack Obama on environmental concerns.
 
Reporting by Swetha Gopinath and Vishaka George

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