alberta extends curtailments into 2020

摘要

Canada’s Alberta province is extending its oil production curtailment order to the end of 2020 - but promises to end it earlier if pipeline congestion eases - and is loosening output limits following calls by some producers to scrap caps altogether. The quota system came into force in January and was originally scheduled to run to the end of 2019. Province premier Jason Kenney’s government kept the cut in place after taking ofce in April, and cites continued pipeline delays - includ- ing Enbridge’s 760,000 b/d Line 3 replacement project - as the reason for the extension. Its amended policy will take efect in October and will allow overall production to rise by 25,000 b/d to 3.79mn b/d - keeping roughly 100,000 b/d of the market. Expected marketable production in 2020 would exceed takeaway capacity by 150,000 b/d without curtailments, the government says.