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Pipeline company South Bow sees profits, revenues fall in first quarter
- South Bow Corp., a crude pipeline operator based in Calgary, reported lower profits and revenues for the first quarter of 2025 compared to 2024.
- The decline followed a year-over-year drop in net income from $112 million to $88 million amid a pipeline rupture and reduced oil flow.
- In early April, a Keystone pipeline segment ruptured in North Dakota, spilling over 556,000 litres of oil, with most recovered and cleanup expected by mid-year.
- In the first quarter, the Keystone pipeline transported approximately 613,000 barrels daily, a decrease from 643,000 barrels per day recorded in the same period last year, reflecting continued low demand for uncommitted capacity.
- South Bow cited excess Western Canada pipeline capacity and global trade uncertainties as factors causing volatile commodity prices and subdued near-term capacity demand.
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Winnipeg Free Press+13 Reposted by 13 other sources
Pipeline company South Bow sees profits, revenues fall in first quarter
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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