.png)
S&P projects that by the late 2020’s overall oil pipeline system utilization could top 90 per cent on an annualized basis. REUTERS/Todd Korol Canadian oil producers may avoid major export pipeline bottlenecks over the next decade as upcoming projects ease a longstanding challenge for the industry, according to a new analysis. However, S&P Global Commodity Insights warns that "Western Canada may not be entirely out of the woods." Alberta’s oil sands are the fourth-largest reserves in the world, and the most significant source outside of the OPEC bloc. For years, lack of export pipeline capacity has fuelled large price discounts for Canadian barrels versus the global market. At the same time, regulatory delays and environmental opposition to pipeline projects have worn down investor confidence in Western Canada’s upstream sector. S&P Global Commodity Insights now estimates the Trans Mountain Pipeline Expansion, plus capacity expansions of existing lines, will add 900,000 barrels per day (b/d) of pipeline capacity this decade, on top of the recently completed Line 3 Expansion project. Meanwhile, supply is expected to increase by 715,000 b/d by 2030. This outlook assumes no further delays to the 590,000 b/d TMX project, which is expected to be completed towards the […]
CamTrader offers a preview only. View original article. ca.movies.yahoo.com
