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.

Just Posted

‘Living Free’ talk supports Lacombe’s Mary C. Moore Public Library

Marco Ste. Marie will give a motivational talk on April 4th at the LMC

Blackfalds closing road for safety concerns

Motorists are required to use HWY 2A instead of Broadway Avenue

Merry Guanas poised to be Lacombe’s first cannabis dispensary

Cannabis retail owner expects a six-month wait before industry comes to city

Lacombe hosts 6th Invasive Species Council Conference at LMC

Council looks to protect native ecological environments in Alberta

Construction along Woodland and Fairway drives

Construction in this area is planned for the week of March 25, 2019

WATCH: ‘Napalm Girl’ discusses journey from hatred to forgiveness in Lacombe

Burman University’s Herr Lecture Series welcomed Kim Phuc Phan Thi to Lacombe

Sentencing judge in Broncos crash calls for carnage on highways to end

Judge Inez Cardinal sentenced Jaskirat Singh Sidhu to eight years

‘Families torn apart:’ Truck driver in fatal Broncos crash gets 8-year sentence

Judge Inez Cardinal told court in Melfort, Sask., that Sidhu’s remorse and guilty plea were mitigating factors

WestJet sticking with Boeing 737 Max once planes certified to fly

WestJet had expected to add two more of the planes this year to increase its fleet to 13

Fierce house cat spotted as ‘aggressor’ in face off with coyote in B.C. backyard

North Vancouver resident Norm Lee captures orange cat versus coyote in backyard showdown

Wilson-Raybould to reveal more details, documents on SNC-Lavalin affair

Former attorney general has written to the House of Commons justice committee

Anti-discrimination group wants to map offenders with cross-Canada hate atlas

Morgane Oger Foundation issues call for volunteers to help build Canadian Atlas of Populist Extremism

GM announces jobs, electric vehicle after Trump criticism

The company says it will spend $300 million at its plant in Orion Township

Most Read