Rare Keystone permit in focus after spills

Yoel Minkoff, SA News Editor 

|About: TC Energy Corporation (TRP)

A permit granted to TC Energy (NYSE:TRP) - then known as TransCanda - to transport oil from Canada to the U.S. (via its Keystone pipeline) at a higher-than-standard level of pressure is in the spotlight.

Around the time the permit was granted, risk assessments the company provided to regulators indicated the chance of a leak of more than 50 barrels to be "not more than once every seven to 11 years over the entire length of the pipeline in the U.S.

However, over the past decade Keystone has had two leaks of 400 barrels and two leaks of several thousand, including the spill of more than 9,000 barrels last week, according to PHMSA data.