NEW YORK — TransCanada Corp., the company behind the contentious Keystone XL oil pipeline, is changing its name to TC Energy.
If approved by shareholders and regulators, TransCanada becomes TC Energy in the second quarter. The stock ticker “TRP” will not change.
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 1,900 kilometre pipeline, intended to ship up to 830,000 barrels a day of crude oil from Alberta, Canada to the U.S. Gulf Coast.
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.