Opportunity Crudes

US imports of Canadian crude oil fell to a two-year low, reaching 3.1MM b/d in the week ending Mar. 14, a decrease of 541K b/d from the previous week.

Alberta's new Premier Danielle Smith has engaged in discussions with a global oil and petrochemical firm regarding the potential overseas sale of Alberta-owned heavy oil.

Enbridge, a leading Canadian pipeline company, has committed to a significant $2B investment in its Mainline network through 2028, despite facing new US tariffs on Canadian crude imports.

US President Donald Trump has reignited efforts to revive the Keystone XL pipeline, urging its construction in a recent social media post.

Canadian Energy Minister Jonathan Wilkinson called for a US-Canada alliance on energy and critical minerals to mitigate the impacts of potential tariffs, particularly a 25% tariff on Canadian goods threatened by US President Donald Trump.

Trans Mountain, operator of an 890K b/d pipeline system in western Canada, is evaluating capacity expansion to address potential export congestion.

Western Canadian crude production is set to increase significantly by 2025, driven by a combination of expanded output and enhanced export infrastructure.

The $24B expansion of Canada's Trans Mountain pipeline plays a critical role in alleviating the country's dependence on the US market for oil exports.

In 2023, the Canadian oil sands sector continued its trend of reducing greenhouse gas (GHG) intensity, a positive step in addressing climate concerns.

PetroChina Canada has officially ended its role as a committed shipper on the Trans Mountain oil pipeline, transferring its contracts to another party, as disclosed in a letter to the Canada Energy Regulator on Oct. 10.