8 June 2018: “Looking back to late 2014/early 2015, the outlook for Canadian production and exports was rosy. Several export pipelines were planned and analysts (including Poten & Partners) were forecasting a significant change in tanker trade flows in the 2017/2018 time-frame.”
“These projects combined represented more than 3 mill barrels per day of additional pipeline export capacity for Canadian oil producers, all to be completed before 2019. We are now in the middle of 2018 and none of this new capacity has materialised, Poten said.”
“This costs Canadian producers an estimated Can$15.6 bill a year. Building some of the proposed export pipelines would have gone a long way to solving this problem, Poten said.”
“Some of it may even be transported to the US Gulf coast and exported to Asia, Poten concluded.”
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