- The expanded Trans Mountain pipeline is expected to reduce Canadian oil-sands producers' dependence on US refiners and provide better prices for their crude.
- The pipeline will open new markets in Asia, allowing oil producers to send their barrels into more markets.
- Canadian Natural Resources Ltd., the country’s largest oil producer, will ship 94,000 barrels a day on the expanded Trans Mountain.
- Imperial Oil Ltd. expects to finish a 15,000-barrel-a-day expansion of its Cold Lake facility ahead of schedule this year, thanks to the pipeline.
- The Trans Mountain expansion will more than double the capacity of the existing line to 890,000 barrels a day.
Trudeau’s Crude Pipeline Set to Provide Boost for Canadian Oil
The expanded Trans Mountain pipeline is set to provide a boost for Canadian oil, reducing dependence on US refiners and opening new markets in Asia, while easing pipeline constraints for oil-sands producers.