Canadian Pacific Railway Expanding Shipments of Crude Oil: report
Canadian Pacific Railway Ltd (CP.TO) said on Wednesday it is expanding shipments of crude oil from Saskatchewan as part of a plan to take advantage of surging production from the Bakken shale oil region that straddles the Canada-United States border, Reuters reported.
CP Rail reportedly said it is boosting volumes from a new transload facility in Estevan, Saskatchewan, which adds to shipments currently moving from another facility at Dollard, Saskatchewan.
The company reportedly said the move is part of an overall effort to move oil from the Bakken fields in both the province and across the border in the United States, where production increases have overtaken pipeline capacity.
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