Ryan Bushell s Top Picks: May 24, 2024 bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Canadian oil producers expect the
discount on their crude to shrink significantly when the Trans
Mountain pipeline expansion starts this year, but the
relief may be short-lived as surging supply.
Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion (TMX) starts this year, but the relief may be short-lived as surging supply looks set to exceed the country's pipeline capacity in just a few years. TMX will ship an extra 590,000 barrels per day (bpd) of crude, trebling existing capacity to Canada's Pacific Coast once the C$30.9 billion ($22.8 billion) expansion is finally complete. For much of the last decade, oil companies in the world's No. 4 producing country have been forced to sell their barrels at a deep discount to global prices due to lack of pipeline capacity to export crude.
By Nia Williams (Reuters) - Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion (TMX) starts this year, but the relief may be short-lived as surging supply looks set to exceed.
The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.