Thursday, February 02, 2012

CP increases crude oil shipments

Written by  Luther S. Miller, Senior Consulting Editor

Canadian Pacific announced it is now shipping crude oil by rail from a new transload facility near Lloydminster, Sask. CP said the facility is a facility is a key enhancement to a growing energy portfolio. It accommodates the needs of NuStar Energy LP, with a further expansion planned this year.

"Moving Canadian crude through CP's North American network is a great complement to our asset base, which includes terminals and a large and expanding fleet of 1,700 coiled and insulated rail cars," said NuStar President and CEO Curt Anastasio. "We believe that moving undiluted heavy Canadian crude by rail to coastal markets is an economically viable solution that brings added value to the end users, as well as the producers in Canada."

CP noted that in addition to the new facility near Lloydminster, it continues to move oil from other transload points in Saskatchewan and Alberta.