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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (66904)	10/28/2019 8:29:50 AM
From: Goose94	Read Replies (2) of 203020

Canadian Pacific Railway (CP-T) crude-by-rail Alberta government is closing in on deals to off-load a crude-by-rail program to the private sector. The four-year, $3.7-billion agreement with Canadian National Railway and Canadian Pacific Railway would have seen Alberta purchase and ship 120,000 barrels of crude a day to help deal with a lack of pipeline capacity and reduce the price discount on Canadian heavy oil. The former NDP government projected revenue of almost $6-billion under the program, but Premier Jason Kenney cancelled it soon after winning the April election, arguing the financial risks were too high. Energy Minister Sonya Savage said Friday the negotiations are taking some time owing to the number and complexity of the contracts, but a deal is close. According to TD Securities, a key point in those negotiations will be retaining a provision that allows companies to produce more than their quota under the current curtailment rules as long as the additional oil leaves Alberta by rail. The quota aims to limit the province's chronic mismatch of oil production and pipeline capacity and has helped narrow a longstanding discount on Alberta heavy crude.

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