Crude-by-rail shipments set new record in December despite lower price discounts

Canada exported nearly 354,000 barrels per day of oil, up seven per cent from November

The National Energy Board says crude-by-rail exports from Canada reached a record high in December.

Canada exported nearly 354,000 barrels per day of oil, up seven per cent from November’s total of 330,400 bpd and the 152,000 bpd moved in December 2017.

On Tuesday, Alberta Premier Rachel Notley announced the province will invest $3.7 billion to move up to 120,000 barrels of oil per day by rail by 2020 under deals with Canada’s two major railways.

Initial daily shipments of 20,000 barrels are expected to begin as early as July.

READ MORE: Alberta investing $3.7B to move oil by rail, leasing cars

Full export pipelines have been 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 oil.

Those differentials narrowed in early December when Alberta announced it would impose crude oil production curtailments starting Jan. 1.

Some producers have complained that the lower differentials make crude-by-rail shipments less profitable.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Ponoka County wants more information prior to approving permit

Council not satisfied, wants better details about work site and other issues

Ponoka County, Rimbey approve recreation deal

Agreement worked out as part of ICF negotiations

Ponoka wilderness survivalist takes on ‘Alone: The Beast’

Show premieres Feb. 13, episode featuring Edwards airs Feb. 20

VIDEO: Minister reports ‘modest progress’ after blockade talks with First Nation

Wet’suwet’en hereditary chiefs say Coastal GasLink does not have authority to go through their lands

Murder of sex worker exposes Canada’s hypocrisy on prostitution: advocate

A 2014 law made purchasing sex or benefiting from the selling of sex illegal

Canada’s flag was flown for first time 55 years ago today

The flag is used to celebrate wins in sports, honour Canada Day, and flown at half-mast after tragedy

No shirts, no city services: Firefighter calendar too steamy for Ontario officials

The city has never funded the calendars, but has OK’d photoshoots at city-owned properties

CFL teams under the microscope after free agency begins

While some big names remain, here’s what lies ahead leading up to next month’s CFL combine in Toronto

Kenney says ongoing rail blockade risks becoming an economic crisis

‘I think Canadians are losing patience with this. I know Indigenous people are’

CFL’s Edmonton Eskimos keep team name following consultations

Talks stem from 2015 concerns about Inuit people being used as mascots in sports

Industry warns of empty shelves as CN rail blockade hits ninth day

Goods that could run out soon include fresh food, baby formula and propane

Most Read