Canadian crude producer Imperial Oil has recently resumed shipping crude oil by ...
CALGARY, Alberta - Canadian crude producer Imperial Oil has recently resumed shipping crude oil by rail from its terminal in Edmonton, Alberta, because of a marginal improvement in rail economics, a company spokesman said on Tuesday.
“We have started a small amount of shipments that are economic under current conditions,” Imperial spokesman Jon Harding said in an email, declining to give exact volumes. Canadian crude traders say a discount of around $15 a barrel on Canadian heavy oil versus U.S. crude is generally needed to make rail economical, although that can be narrower depending on prices in the market the crude is destined for, and what transportation deals shippers have in place.
Analysts at TPH Energy Research estimate March volumes so far are in the 160,000-175,000 bpd range but said activity is picking up.
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