Keystone XL Pipeline

Brent crude futures were at $76.73 a barrel, up 58 cents, or 0.76%, at 0716 GMT, after dropping 1.3% on Thursday

A lawsuit filed by 21 Republican-led US states seeking to revive the Keystone XL pipeline after it was blocked by Biden stands on solid legal grounds, US oil and gas consultants said

Attorneys general from 21 states sued to overturn President Joe Biden's cancellation of the contentious Keystone XL oil pipeline from Canada. Led by Ken Paxton of Texas and Austin Knudsen of Montana, the states said Biden had overstepped his authority when he revoked the permit for the Keystone pipeline on his first day in office. Because the line would run through multiple US states, Congress should have the final say over whether it's built, according to the lawsuit filed in U.S. District Court in Texas on Wednesday. Construction on the 1,200-mile (1,930-kilometer) pipeline began last year when former President Donald Trump revived the long-delayed project after it had stalled under the Obama administration. It would move up to 830,000 barrels (35 million gallons) of crude daily from the oil sand fields of western Canada to Steele City, Nebraska, where it would connect to other pipelines that feed oil refineries on the US Gulf Coast. Biden cancelled its permit over longstanding

The long disputed project was projected to carry some 800,000 barrels of oil a day from the tar sands of Alberta to the Texas Gulf Coast

The call will likely take place on Friday to establish a rapport and discuss the Biden administration's plans to reject the Keystone XL Pipeline

The pipeline construction was initially blocked by former President Barack Obama's administration following agitation by various environmental groups

The move would represent another set-back for the beleaguered Canadian energy industry, kill thousands of jobs and marks an early bump in Biden's relationship with key trade partner Canada

The project, which would move oil from the province of Alberta to Nebraska, had been slowed by legal issues in the United States

Most recently, a Canadian indigenous group said it would invest C$1 billion ($764.35 million) in the project, which has been in the works for 12 years

They said that it will cost US jobs and undermine the spirit of Trump's Presidential Memorandum