Sentences with phrase «canadian heavy crude oil»

Commodity prices have remained at historically elevated levels, although persistent transportation bottlenecks are leading to continued discounts for Canadian heavy crude oil.

(US$ / barrel) front month futures of Net Energy Canadian Heavy Crude Oil index, Chicago Mercantile Exchange (CME)

The pipeline carries Canadian heavy crude oil from Patoka, Illinois to refineries on the Texas Gulf coast.

Not exact matches

«With so much supply landlocked, Canadian oil prices are taking a serious hit,» Casey Research energy analyst Marin Katusa wrote in a late June investment note that estimated that Western Canadian Select, a heavy crude, was trading for a whopping US$ 23 less than WTI; a gap 30 % larger than the average differential between 2006 and 2010.

This trend has reversed in recent weeks, with larger discounts applied to global and Canadian heavy crude leading to bitumen prices remaining low while world oil prices have gained some of the lost ground.

The bottlenecks are frustrating for Canadian oil producers because heavy crude is in great demand from U.S. Gulf of Mexico refineries, which are designed to process it, and have faced shortages of Venezuelan and Mexican heavy crude.

Western Canada Select, the Canadian heavy oil benchmark's discount against the U.S. crude widened to US$ 17.40 per barrel, its highest level since the start of the month.

It holds significant long - term potential as a market for western Canadian crude oil, particularly heavy grades.»

The U.S. meanwhile has refineries well adapted to processing heavy, sour Canadian crude, and a transportation system that is and will remain overwhelmingly oil - powered for decades to come.

More than 20,000 barrels of heavy Canadian crude oil gushed into the Kalamazoo River system after multiple small corrosion - fatigue cracks caused the rupture of Line 6B in July 2010, the largest onshore oil spill in U.S. history.

The pipeline will provide access to cheaper oil and likely help reduce the discount level on oil from Northern geographies, that Bakken and Canadian heavy crude trade at.

(Reuters)- Exxon Mobil on Sunday continued cleanup of a pipeline spill that spewed thousands of barrels of heavy Canadian crude in Arkansas as opponents of oil sands development latched on to the incident to attack plans to build the Keystone XL line.

In an interview with The Globe and Mail editorial board, David Collyer, president of the Canadian Association of Petroleum Producers, said the Keystone XL line is needed to connect the Alberta oil sands with refiners who have invested billions of dollar to upgrade their plants so that they can process heavy grades of crude.

The Pegasus pipeline is one of the few pipelines currently supplying a heavy Canadian crude oil known as diluted bitumen, or dilbit, to refineries on the Texas Gulf Coast.

The hidden, long - term effects of the 2010 pipeline accident that spilled more than a million gallons of heavy Canadian crude oil into Michigan's Kalamazoo River became public last week when the EPA revealed that large amounts of oil are still accumulating in three areas of the river.

TransCanada told Canada's National Energy Board that in the Midwest, its pipeline would «increase the price of heavy crude to the equivalent cost of imported crude,» which would provide Canadian oil companies with an added $ 2 - 3.9 billion in annual revenues.

In its report, EPA seemingly compliments the State Department for confirming that Canadian tar sands oil is carbon intensive when compared to other heavy crudes, due to increased emissions associated with extracting and refining it.

They want the Obama administration to reject a Canadian company's application to construct the $ 7 billion, 1,702 - mile pipeline, which would carry heavy crude from the oil sands mines of Alberta to refineries along the Gulf Coast.

A new study by the National Academy of Sciences found that «pipelines carrying heavy Canadian oil sands fuel are at no greater risk of a spill than those running conventional crude.»

A report by the Canadian government warns that Canada and the U.S. will both shift toward heavier forms of crude oil as global sources of lighter crude become scarcer.