Canada's South Bow cuts crude trading team, focuses on contracted pipeline volumes, sources say [Yahoo! Finance Canada]
TC Energy Corporation (TRP)
Last tc energy corporation earnings: 5/1 07:30 am
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Source: Yahoo! Finance Canada
South Bow was spun out of Canadian pipeline company TC Energy in October 2024 as part of a plan to help TC reduce its debt load. South Bow laid off two traders on April 4, the people said. TC Energy had already cut a member of the team in June last year before the spin-off. The latest layoffs have reduced the crude trading team to two from five. A South Bow spokesperson declined to comment on employee matters for this story. The company is seeking more stable revenues through contracted volumes shipped through its pipeline systems, the sources said, after the start up of the Trans Mountain pipeline in Canada left it with fewer trading opportunities. South Bow expects EBITDA for its marketing unit, which includes its crude trading team, to turn negative in 2025, falling $30 million from $12 million in 2024, it said in its fourth quarter earnings report. It, however, expects the company's normalized overall EBITDA to be approximately $1.01 billion, versus $1.09 billion in 202
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TRP
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- 11/6/25 - Beat
TRP
Sec Filings
- 11/10/25 - Form SCHEDULE
- 11/6/25 - Form 6-K
- 10/16/25 - Form 6-K
- TRP's page on the SEC website