• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Pipeline expansions still needed despite price-gap narrowing, Oliver says

April 18, 201310:44 AM BOE Report Staff

Canadian Minister of Natural Resources, Joe Oliver

CP

 

CALGARY – Despite a dramatic improvement in the price Alberta producers get for their crude oil in recent months, Natural Resources Minister Joe Oliver says market-opening pipeline expansions are still necessary.

The difference between the Western Canadian heavy oil benchmark and its lighter American counterpart was at the painfully high level of $40 per barrel late last year — a phenomenon the Alberta government dubbed the “bitumen bubble” when explaining the hit it was taking to its revenues.

The discount for Canadian heavy oil is now just under $14 — a much more normal level for the crude which is generally harder to process and further away from market.

Oliver says gyrations in price are inevitable for any commodity and that while railways have been helpful in getting Canadian producers a better price, it can’t replace pipelines in the long-term.

Meanwhile, Oliver says he’s cautiously optimistic that the U.S. government will approve the $5.3-billion Keystone XL pipeline, which would enable some 830,000 barrels of mostly oilsands crude to flow to Texas refineries.

Oliver made his remarks after announcing a $15-million contribution to the University of Calgary to create an international policy program.

Keystone XL

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Discount on Western Canada Select widens
  • European Commission proposes Russian oil price cap 15% below global price
  • US oil/gas rig count down for 11th week to lowest since 2021, Baker Hughes says
  • Taiwan’s CPC Corp eyes US shale gas assets, sources say
  • Saudi Arabia complying fully with voluntary OPEC+ target, energy ministry says

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.