CBR resurgence expected even as TMEP scores a win, Cenovus ups rail delivery.

摘要

As has been discussed at length in recent months, Canadian crude prices have been depressed by transportation bottlenecks, including the numerous hurdles faced by the Trans Mountain Expansion Project (TMEP). Canada's federal government bought the Trans Mountain Pipeline and the TMEP from Kinder Morgan last year in an attempt to move the Project forward, but opposition from the provincial government in British Columbia continued to create stumbling blocks. However, on May 28, it was reported that a unanimous ruling by the BC Court of Appeal states the provincial government exceeded its jurisdiction with legislation requiring a permit for transporting heavy oil in BC. Until the federal government moves forward with the pipeline expansion to 890K b/d, crude production in Alberta will continue to outpace takeaway capacity.