Company behind Keystone XL pipeline, TransCanada, to change name to TC Energy

OilAssociated Press

Trump: Keystone XL pipeline decision is a disgrace

President Trump responds to a federal judge's decision on the Keystone XL pipeline.

NEW YORK (AP) — TransCanada Corp., the company behind the contentious Keystone XL oil pipeline, is changing its name to TC Energy.

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If approved by shareholders and regulators, TransCanada becomes TC Energy in the second quarter. The stock ticker "TRP" will not change.

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The Keystone XL project is being delayed by a federal court that found the Trump administration didn't fully consider the environmental effects when it approved the permit for the 1,184-mile (1,900 kilometer) pipeline, intended to ship up to 830,000 barrels a day of crude oil from Alberta, Canada to the U.S. Gulf Coast.

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The project has been marred by protests. Environmentalists and Native American groups had sued to stop the pipeline, citing property rights and possible spills

A hearing on the proposed pipeline is scheduled for Monday in Great Falls, Montana.