TransCanada to Construct Oklahoma to Texas Coast Segment

Bloomberg reported that TransCanada Corp. (NYSE:TRP) has planned to continue building a $2.3 billion segment of the Keystone XL oil pipeline from Oklahoma to the Texas coast.

As quoted in the market news:

The company, based in Calgary, expects the segment to begin carrying crude from the Cushing, Oklahoma, storage hub to refineries on the U.S. Gulf Coast as soon as mid-year 2013, according to a statement today. TransCanada is separating the Cushing line from its application to President Barack Obama for approval of a Keystone expansion that will bring crude into the U.S. from Canada’s oil sands.

Click here to read the full Bloomberg report.