Company plans to restart Keystone Pipeline after oil spill in rural North Dakota
BISMARCK, N.D. (AP) — The operator of the Keystone oil pipeline said it planned to restart the system Monday after a spill onto farmland in North Dakota last week shut down the line.
South Bow said it's watching inclement weather conditions before beginning 'a carefully controlled restart' that will include 24/7 monitoring, reduced operating pressures, cleanup of the site and compliance with federal regulators' requirements. The company said it has finished all repairs, inspections and testing at the spill site.
South Bow said the federal Pipeline and Hazardous Materials Safety Administration signed off on its plans to repair and restart the line. The Associated Press emailed the agency for comment. The company also said it will put certain pressure restrictions on the pipeline's Canadian sections, and has shared those details with Canadian regulators.
South Bow's update did not mention a cause of the spill, though the company said it would share investigation findings when available. An employee heard a 'mechanical bang" and shut down the pipeline within two minutes, a state spill response official previously said.
The spill is estimated at 3,500 barrels, or 147000 gallons. Vacuum trucks had recovered 1,170 barrels of crude oil, or 49140 gallons, as of early Friday, according to PHMSA.
The spill occurred in a field north of Fort Ransom, North Dakota, a tiny town in a forested area known for scenic views and outdoor recreation.
The 2,689-mile (4,327 kilometers) Keystone Pipeline carries crude oil from Alberta, Canada, to refineries in Illinois, Oklahoma and Texas.
The pipeline has been shut down from Alberta to points in Illinois and a liquid tank terminal Oklahoma, though the line remained open between Oklahoma and Texas' Gulf Coast, according to a map from South Bow.
Lower oil prices due to tariff issues helped mute challenges from the pipeline shutdown on gas prices, though diesel prices could still inch up, said Ramanan Krishnamoorti, vice president for energy and innovation at the University of Houston.
Gas prices have fallen in almost every state in the last week due to the oil price drop resulting from the tariff and trade war concerns, said Patrick De Haan, head of petroleum analysis for GasBuddy, which tracks gas prices.
'I wouldn't have expected this to really have much of an impact anyway, but with oil prices actively having plummeted over the last week, yes, I would say that the decline was more than offset,' he said.
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To participate in or listen to the call, please dial the appropriate number: Toll Free - North America: (+1) 800 717 1738 Conference ID Number: 21262 About Currency Exchange International, Corp. Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, ('CXIFX'), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Group-owned retail branches, agent retail branches, and its e-commerce platform, ('OnlineFX'). 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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as 'anticipate', 'believe', 'could', 'estimate', 'expect', 'intend', 'may', 'plan', 'predict', 'preliminary', 'project', 'will', 'would', and similar terms and phrases, including references to assumptions. Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Group's actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry; evolving worldwide geopolitical developments and pandemics including COVID-19 all of which may continue to have a material adverse effect on global economic activity, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets which impact personal and business travel, tourism and factors relevant to the Group's business; global economic deterioration negatively impacting tourism in general; currency exchange risks, the need for the Group to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Group's proprietary rights, the effect of government regulation and compliance on the Group and the industry in which it operates, network security risks, the ability of the Group to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel; volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital as well as the factors identified throughout this press release and in the section entitled 'Risks and Uncertainties' of the Group's Management's Discussion and Analysis for the three and six-month periods ended April 30, 2025 and 2024. Forward-looking information contained in this press release represents management's expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Group disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release. 1 These are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. 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