• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn
Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

November crude-by-rail exports set new record despite slower growth pace

January 24, 201912:43 PM The Canadian Press0 Comments

CALGARY – The National Energy Board says crude-by-rail exports from Canada grew at a slower pace in November, but still reached a new record high.

Canada exported more than 330,000 barrels per day of oil, up about one per cent from October’s total of 327,000 bpd, and more than double the 148,000 bpd moved in November 2017.

The slower November growth came after double-digit month-over-month growth in August, September and October.

Full export pipelines were blamed for a glut of oil in Western Canada last fall that led to large discounts for bitumen-blend Western Canadian Select crude compared with New York benchmark West Texas Intermediate.

Those differentials have narrowed since the government of Alberta announced last month it would impose crude oil production curtailments of 325,000 bpd starting Jan. 1.

The province has also promised to buy as many as 80 locomotives and 7,000 rail tankers to help move oil to markets starting in late 2019.

Oilsands giant Suncor Energy Inc. has warned that the tighter differentials have made crude-by-rail shipping “uneconomic.”

Analysts estimate it costs about US$20 per barrel to ship Canadian oil by rail to markets on the U.S. Gulf Coast, so discounts that are lower than that make the option less attractive.

Companies in this story: (TSX:SU)

Suncor

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • India’s oil imports at near 3-yr high in December
  • New oil and gas jobs from BOE Report Jobs
  • Trudeau vows to keep up the fight to sway U.S. on merits of Keystone XL pipeline
  • Alberta urges Trudeau to press Biden, save Keystone XL pipeline
  • Column: Dear Joe Biden, aside from burning down the Whitehouse in 1814, we have been pretty good neighbours

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.