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October 16th - According to sources, the European Union is preparing to expedite antitrust approval for Project Bromo, a European satellite joint venture. The project, jointly developed by Airbus, Leonardo of Italy, and Thales of France, aims to create a European satellite industry giant and reduce reliance on US satellite service providers such as SpaceX (SPCX.O). Sources say the European Commission has been consulting with the three companies for the past year to identify and address potential competition issues in advance. The three companies have not yet formally submitted their approval applications but are expected to do so in the coming weeks. If the companies propose remedial measures such as asset divestiture, the project could be approved after a first-phase antitrust review lasting just over a month, bypassing the lengthy in-depth investigation that can take several months. European Commission President Ursula von der Leyen supports the project, but EU Competition Commissioner Agnès Rivera emphasized that even with political support, the project must still comply with EU competition regulations.According to Israeli media: US Secretary of State Marco Rubio and Israeli Prime Minister Benjamin Netanyahu held a phone call.Musk: Old friends are best friends. Jensen Huang is amazing. The StarMind computer, jointly developed by SpaceX (SPCX.O) and Nvidia (NVDA.O), has far exceeded almost everyones expectations and will enter mass production next year.Market news: The European Union is preparing to accelerate its satellite project in order to compete with SpaceX (SPCX.O).Freddie Mac: The average 30-year fixed-rate mortgage rate in the U.S. was 7.40% in the week ending October 15, unchanged from the previous week.

TC Energy Says The Keystone Pipeline Will Reduce Volume

Aria Thomas

Nov 16, 2022 14:45

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TC Energy (NYSE:TRP) of Canada reported on Tuesday that its Keystone oil pipeline with a capacity of 622,000 barrels per day will limit output due to recent severe weather-related disruptions on system facilities.


Monday was the day that the Calgary-based corporation informed consumers of the force majeure situation. Citing customer confidentiality, TC did not reveal the extent or duration of the service cut.


"The notices informed customers that the Keystone System will be obliged to restrict volumes commencing on November 15 due to the time the system was halted during the force majeure incident," TC said in a statement.


Two market sources reported a 7% volume decrease. According to one of the sources, the price of Canadian heavy crude dipped on Monday and then recovered on Tuesday.


According to NE2 Inc, Western Canada Select heavy blend crude for December delivery closed $28.60 per barrel below U.S. crude futures, after trading at $28.85 per barrel the previous day.


Keystone is an essential part of Canada's oil export network, delivering crude oil from Alberta to the United States. Midwest followed by Gulf Coast.


In order to test the system, TC stated in October that it would temporarily increase the capacity of its Keystone pipeline for a few months beginning in November.

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