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OIL: TMX Barrels Shaking Up Regional Flows

OIL
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The ramp up in Canadian flows following the TMX expansion has pushed more barrels towards PADD 5 and Asia since opening Vortexa vessel tracking shows. 

  • Colombian heavy sour crude has been pushed out of PADD 5 as a result.
  • More Colombian crude has instead been heading to PADD 3. Looking ahead, this offers an employment opportunity for the America’s Aframax market which has had to contend with increasing competition from Suezmax’s.
  • When Mexico’s Dos Bocas 340,000 bpd refinery ramps up, heavy Maya crude loadings will slow at the Dos Bocas terminals, which will also support Colombian crude flows to PADD 3. 

 

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The ramp up in Canadian flows following the TMX expansion has pushed more barrels towards PADD 5 and Asia since opening Vortexa vessel tracking shows. 

  • Colombian heavy sour crude has been pushed out of PADD 5 as a result.
  • More Colombian crude has instead been heading to PADD 3. Looking ahead, this offers an employment opportunity for the America’s Aframax market which has had to contend with increasing competition from Suezmax’s.
  • When Mexico’s Dos Bocas 340,000 bpd refinery ramps up, heavy Maya crude loadings will slow at the Dos Bocas terminals, which will also support Colombian crude flows to PADD 3. 

 

Keep reading...Show less