Markets

Canadian Pacific Railway Expanding Shipments of Crude Oil: report

A pen and a calculator.
Credit: Shutterstock photo

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.

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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More