Energy Sector Update for 12/01/2016: CNQ.TO, SU.TO, IMO.TO, CVE.TO, ENB.TO, TRP.TO

Shutterstock photo

BMO Capital believes the approval of the Kinder Morgan Trans Mountain expansion and Enbridge (Restricted) Line 3 replacement program are positive for Western Canadian oil producers. If built, these projects should improve market access for Canadian producers and lower transportation costs versus rail. The broker believes that this could have a positive impact on Canadian heavy oil prices when the pipelines come into service, which is slated for 2019. The main beneficiaries, BMO said, are Canadian Natural (CNQ.TO), Cenovus (CVE.TO), Imperial Oil (IMO.TO), and Suncor (SU.TO).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Energy

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by