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Trans Mountain Expansion Progress Weekly Summary

OIL

Trans Mountain's expanded oil pipeline system will start commercial operations on May 1 according to the company on Wednesday.

  • Reuters reported that Trans Mountain will finish building the final segment of the Canadian pipeline in April.
  • Analysts told Reuters that the operations’ May 1 commercial start date is earlier than expected, with Wood Mac seeing late May or early June as more realistic.
  • The approaching start-up of the Trans Mountain Expansion is set to reshuffle the Pacific crude market, Argus said.
  • Despite news of the TMX’s pending launch, the Western Canada Select (WCS) heavy crude differential versus WTI traded in the $12 range on Thursday – little changed from the previous session.
  • Alberta’s total oil production rebounded in February by 146.7kb/d to 3.95mb/d as extreme cold eases according to Alberta Energy Regulator data.

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