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Saturday, December 15, 2018

Canada's Alberta Will Buy Rail Cars to Transport Crude

Maritime Activity Reports, Inc.

November 28, 2018

© Andre / Adobe Stock

© Andre / Adobe Stock

Canada's energy-rich province of Alberta is in talks to buy rail cars to transport 120,000 barrels per day of crude oil and expects a deal to conclude within weeks, Premier Rachel Notley said on Wednesday.

Notley, who says the cars are needed to help deal with a glut of oil that has slashed the price of Alberta oil, told a business audience in Ottawa she was disappointed the federal government was not helping fund the purchase.

Full pipelines have stranded much of Western Canada's expanding crude output, driving down the price U.S. refineries are willing to pay. Notley has asked Prime Minister Justin Trudeau's government to help pay for additional rail capacity though Alberta had not received an answer from Ottawa.

(Reuters, Reporting by David Ljunggren, Editing by Franklin Paul)

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