MNI China Daily Summary: Friday, February 7

MNI: GERMANY DEC INDUSTRIAL PRODUCTION -2.4% M/M

MNI: GERMANY DEC TRADE BALANCE E20.7BLN

MNI BRIEF: Tariffs Force CBRT To Hike 2025 Inflation Forecast

MNI: PBOC Net Drains CNY100.3 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1699 Fri; -1.35% Y/Y

MNI JAPAN DEC HOUSEHOLD SPENDING +2.7% Y/Y; NOV -0.4%

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -174 BCF TO 2,397 BCF JAN 31 WK

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: Competition In USWC From TMX Expansion Not As Severe As Feared

OIL
BulletEnergy BulletsCommodities

Competition into the western US from the expansion of the 890k b/d Trans Mountain pipeline system in western Canada was not as severe as feared by Argentina producers, Argus reports. 

  • There is “still a place” for Argentina’s Medanito crude on the US west coast, according to a Vista executive trading manager.
  • Argentina producers were concerned when the expansion went into service last May.
  • At first, they felt price effects of the increased supply in the Pacific basin, but differentials stabilized.
  • 50% of TMX exports now go to Asia.
  • The TMX system connects producers in Alberta to Burnaby and its capacity roughly tripled when the 590k b/d expansion project went into service.
  • Expected to reach full capacity by 2028, TMX has been popular for shipping to USWC refiners and Asian markets.
  • The pipeline operator is reportedly exploring ways to increase capacity due to export congestion and potential US tariffs, which could see more volumes head to Asian refiners. 
154 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Competition into the western US from the expansion of the 890k b/d Trans Mountain pipeline system in western Canada was not as severe as feared by Argentina producers, Argus reports. 

  • There is “still a place” for Argentina’s Medanito crude on the US west coast, according to a Vista executive trading manager.
  • Argentina producers were concerned when the expansion went into service last May.
  • At first, they felt price effects of the increased supply in the Pacific basin, but differentials stabilized.
  • 50% of TMX exports now go to Asia.
  • The TMX system connects producers in Alberta to Burnaby and its capacity roughly tripled when the 590k b/d expansion project went into service.
  • Expected to reach full capacity by 2028, TMX has been popular for shipping to USWC refiners and Asian markets.
  • The pipeline operator is reportedly exploring ways to increase capacity due to export congestion and potential US tariffs, which could see more volumes head to Asian refiners.