Canadian oil producers eye new pipeline route to Gulf Coast as Marathon reverses Capline conduit
Capline was the largest south-to-north flowing pipeline in the United States with a capacity of 1.2 million barrels of oil per day, but owner Marathon Petroleum has been working to reverse the flow since 2017, which would allow both heavy and light oil to flow from a storage hub in the U.S. Midwest to a major refining centre on the Gulf Coast. The company website notes that the reversal will be completed this year.
Oil producers contacted by the Financial Post said they expected the project would improve the returns of their barrels. Credit ratings agency Fitch also expects the Capline reversal to draw crude oil from Canada, North Dakota and “mid continent” into the U.S. Gulf Coast.
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