The rise in pipeline egress is set to boost the price of Western Canada Select WCS, the benchmark for Canadian heavy crude sold at Hardisty in Alberta.
The Trans Mountain Expansion Project, now finally completed after years of delays, is expanding access to markets for Canadian oil producers and is set to boost the price of Canada ’s heavy crude oil for years to come, top executives at the major energy firms say. The expanded pipeline is tripling the capacity of the original pipeline to 890,000 barrels per day bpd from 300,000 bpd to carry crude from Alberta’s oil sands to British Columbia on the Pacific Coast.
The narrowing of the WCS-WTI differential will be a long-term trend, the executive added. “With this critical infrastructure now complete, we anticipate light-heavy differentials will remain narrow for years,” Alson told analysts, as carried by The Canadian Press. Canadian Natural Resources, the top oil and gas producer in Canada, also expects TMX to provide “ample egress and optionality for our crude oil products.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada Issues Final Authorization for Trans Mountain Pipeline ExpansionThe Canada Energy Regulator has issued the final permits for the long-delayed Trans Mountain Expansion Project to enter into service.
Read more »
Logistical Hurdles Could Halve Trans Mountain Export ProjectionsExports from the expansion of Canada's TransMountain pipeline expansion project that launched on Wednesday may come in at only half of what the federal government is projecting
Read more »
Oil Firms Doubtful Trans Mountain Pipeline Will Start Full Service by May 1stOil companies planning to ship crude on the expanded Trans Mountain pipeline are concerned the project may not begin full service on May 1st.
Read more »
Valero, Chevron Tap Trans Mountain Pipeline for West Coast CrudeValero Energy Corp. and Chevron Corp. have entered the fray of buyers for oil traversing Canada's expanded Trans Mountain Pipeline system
Read more »
Trans high school athlete addresses hearing on banning trans girlsTrans teen Maelle Jacques, who was born a male and previously won a girl's high jump state championship , said she didn't join female sports to win outright.
Read more »
Trans high school athlete addresses hearing on banning trans girlsTrans teen Maelle Jacques, who was born a male and previously won a girl's high jump state championship , said she didn't join female sports to win outright.
Read more »