Pipelines that historically carry Canadian crude to the U.S. are cutting rates and looking to ship different grades of crude oil due to rising competition...
HOUSTON - Pipelines that historically carry Canadian crude to the U.S. are cutting rates and looking to ship different grades of crude oil due to rising competition from the newly expanded Trans Mountain pipeline.
With more oil moving on TMX, Canadian pipeline operator Enbridge said in August it will cut its tariffs for September by 11% per barrel on heavy crude moving on its Mainline system. The 3 million-bpd system ships the bulk of Canada's crude exports from Edmonton to the U.S. and is one of the main competitors to TMX.
"We are starting to see the TMX impact play out for the Mainline, and therefore for systems that carry Canadian barrels to the U.S. Gulf Coast," said Dylan White, a North American crude markets analyst with researcher Wood Mackenzie. Output will rise about 500,000 bpd in 2025 from 2023, offsetting the additional capacity added by TMX, according to analysts from energy infrastructure firm East Daley Analytics.
Wood Mackenzie Trans Mountain Pipelines Crude Oil Heavy Crude Gulf Coast
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