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Kinder Morgan’s Trans Mountain project would nearly triple pipeline capacity from 300,000 to 890,000 barrels of crude oil a day. It would carry oil from Alberta’s oil sands to the Vancouver area to be loaded on to barges and tankers for Asian and U.S. markets.
Iran will probably start increasing exports by selling barrels it stockpiled on tankers in the Persian Gulf in anticipation of the deal.
A record cut to the number of active U.S. drilling rigs and billions of dollars of spending reductions by companies since last year’s price plunge has yet to translate into a slump in barrels produced.
Companies inquired about booking 10 very large crude carriers for storage in the past several days, Odysseus Valatsas, the chartering manager for Dynacom Tankers Management Ltd. near Athens, said by e-mail today.
The Coast Guard moved Tuesday to boost the liability limits capping how much companies must pay for oil spills that foul U.S. waters.
Because trains offer flexibility that fixed pipelines can’t match, the trend of moving oil by rail is here to stay, an energy executive told industry leaders and analysts Monday.
The Quebec provincial prosecutor’s office said 47 counts of criminal negligence have been filed against engineer Thomas Harding, manager of train operations Jean Demaitre, and Richard Labrie, the railway’s traffic controller.
Canada said Wednesday it was phasing out the type of rail tankers involved in last summer’s massive explosion of a runaway oil train that incinerated much of a town in Quebec, killing 47 people and prompting intense public pressure to make oil trains safer.
Rail industry representatives on Tuesday told federal investigators they need clear government guidance on how to boost the safety of tank cars carrying crude oil and ethanol across the United States, lest they be penalized for making voluntary improvements that fall short of later mandates.
Refiners are pleading with U.S. regulators for a timeout on new mandates on North Dakota oil before loading it onto train tankers.