TransCanada Posts Smaller Quarterly Loss

File Image (CREDIT: AdobeStock)

Posted by Joseph Keefe

TransCanada Corp, Canada's No. 2 pipeline operator,
reported a smaller quarterly loss from a year earlier, when it
booked a C$2.9 billion ($2.23 billion) impairment charge on its
Keystone XL oil pipeline.

The company's net loss attributable to shareholders narrowed to
C$358 million, or 43 Canadian cents per share, in the fourth
quarter ended Dec. 31 from C$2.46 billion, or C$3.47 per share, a
year earlier.

The latest quarter included charges of about C$1 billion.

U.S. President Donald Trump last month cleared the way for
TransCanada's proposed Keystone XL pipeline from the Alberta oil
sands to U.S. refineries, after it was rejected in 2015 by
then-President Barack Obama on environmental concerns.

Reporting by Swetha Gopinath and Vishaka George

Feb 16, 2017

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