Tags: CN | Canada | TransCanada | Keystone | XL

TransCanada Takes 4Q Hit after Obama Blocks Keystone XL

Thursday, 11 February 2016 01:42 PM

CALGARY, Alberta (AP) — Energy company TransCanada Corp. says it lost US$1.79 billion (CA$2.5 billion) in the fourth quarter, mostly because of its stalled Keystone XL pipeline proposal.

The Calgary-based company reported Thursday that it took a US$2.08 billion (CA$2.9 billion) non-cash charge related to Keystone XL, which President Barack Obama blocked late last year.

The loss amounted to US$2.48 (CA$3.47) per share for the quarter.

TransCanada has launched a challenge to the U.S. government's rejection of Keystone XL.

The company says it intends to file a claim under Chapter 11 of the North American Free Trade Agreement in response to the decision, which it called arbitrary.

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Energy company TransCanada Corp. says it lost US$1.79 billion (CA$2.5 billion) in the fourth quarter, mostly because of its stalled Keystone XL pipeline proposal.The Calgary-based company reported Thursday that it took a US$2.08 billion (CA$2.9 billion) non-cash charge...
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Thursday, 11 February 2016 01:42 PM
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