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CN rail shipments resume through Alberta: Update

  • : Crude oil, Fertilizers, Oil products
  • 24/07/29

Adds CN comment on start date in second paragraph.

Canadian National (CN) said it has resumed rail shipments through Jasper, Alberta, after wildfires last week forced the company to halt shipments through the area.

Rail operations were restarted on 26 July, CN said on Monday.

CN's rail line through the Jasper area moves sulfur and other goods from Alberta into British Columbia for export from Vancouver.

The number of wildfires fell to 129 on Monday, down by 46 from last week, according to the government of Alberta. Four communities in Alberta have been under evacuation notice since 25 July.

Fort McMurray, a major sulfur, crude and bitumen production site, was put under evacuation notice on 14 July. All fires at Fort McMurray are "being held", the provincial government said, meaning the fires are not anticipated to grow.

Jasper was put under evacuation notice on 22 July.


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25/02/07

Crude Summit: No major tariff impacts yet: Enbridge

Crude Summit: No major tariff impacts yet: Enbridge

Houston, 7 February (Argus) — Canadian midstream company Enbridge said that potential US tariffs on Canadian crude imports have not yet had a major impact on cross-border flows on its 3mn b/d Mainline pipeline system. Enbridge is in a unique position to comment on the US tariffs on Canada and Mexico, which were set to take effect on 4 February, but were delayed this week until early March. The company operates both the Mainline pipeline system, which it describes as the largest single point of commerce between Canada and the US, as well as the largest US crude export terminal near Corpus Christi, Texas. While Enbridge would not pay the tariffs, as it does not hold title to the crude shipments, its shippers could be subject to higher costs in the form of a 10pc US tariff on Canadian crude imports that could take effect in early March. It could also be affected by a 10pc Chinese retaliatory tariff on US imports, effective from 10 February. "We have not seen any significant disruption in the flows on our Canadian systems yet," Enbridge senior vice president of business development Phil Anderson told the Argus Global Crude Summit Americas in Houston, Texas, today. "It is: plan for the worst and hope for the best." Enbridge also owns and operates the Enbridge Ingleside Energy Center (EIEC) near Corpus Christi, which handles about 25pc of all US crude exports. China accounts for a "relatively small" portion of EIEC shipments, and the Chinese counter-tariffs will not have a significant impact, Anderson said. Corpus Christi crude exports set an all-time high in November 2024 at 2.6mn b/d, besting the previous high of 2.5mn b/d set in August. Enbridge and other Corpus Christi shippers have benefited from a channel-deepening project there that allows them to load more crude onto larger vessels. The Port of Corpus Christi is making progress on the last phases of a channel-deepening project, which will give mid-sized tankers better access to export docks in the port's Inner Harbor. The project aims to increase the channel depth to 54ft from 47ft and widen it to 530ft. The latest phase of the project, which runs from west of the La Quinta ship channel and under the Harbor Bridge to the Chemical Turning Basin, will allow bigger tanker ships to dock at the Sunoco crude export terminal, and is expected to be complete by May 2025, Port of Corpus Christi Authority (POCCA) chief executive Kent Britton told the summit today. Current draft restrictions limit Inner Harbor traffic to smaller Aframax vessels, which can carry about 700,000 bl. A deeper draft will allow for Suezmax vessels to load to their full 1mn bl capacity at the Sunoco terminal. By Chris Baltimore Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump planning rollout of 'reciprocal' tariffs


25/02/07
25/02/07

Trump planning rollout of 'reciprocal' tariffs

Washington, 7 February (Argus) — President Donald Trump is considering announcing "mostly reciprocal tariffs" on an undisclosed number of countries early next week, in a possible shift from a campaign plan to impose universal tariffs of 10-20pc against all imports to the US. Trump did not provide specifics on the idea, but said he would probably have a meeting on 10 or 11 February before making an announcement. The potential rollout of the reciprocal tariffs appears likely to take place after China's planned 10 February date to start collecting a 10pc tariff on crude, coal and LNG from the US that Beijing imposed in response to a 10pc blanket tariff that Trump has placed on Chinese imports. "I think that's the only fair way to do it," Trump said of his plan to "probably" pursue reciprocal tariffs. "That way, nobody's hurt. They charge us, we charge them. It's the same thing. And I seem to be going in that line, as opposed to a flat fee tariff." Trump has said he views tariffs — which he says is his "favorite word" — as a virtually cost-free way to raise revenue that will cut the US trade deficit and boost domestic manufacturing, without raising prices for goods in the US. But earlier this week, Trump delayed his plan to place an across-the-board 25pc tariff on Canada and Mexico just hours before it was set to take effect, as stock markets began to plunge on the threat of the start of a damaging trade war between the US and its two largest trading partners. The vast majority of economists say across-the-board tariffs are an inefficient way of raising revenue, with costs that would fall the hardest on low-income and middle-income US consumers already reeling from years of inflation. US Senate minority leader Chuck Schumer (D-New York) on 2 February said kicking off a tariff war with Canada and Mexico "makes 100pc no sense" and would raise costs for US consumers. Trump discussed his reciprocal tariff idea today during a press conference with Japan's prime minister Shigeru Ishiba. Trump said he wants to "get rid of" the US' trade deficit with Japan he estimates is $100bn/yr, primarily by selling the country US oil, LNG and ethanol. Trump said he also spoke with Ishiba about efforts related to the "pipeline in Alaska", an apparent reference to the proposed 20mn t/yr Alaska LNG project, which is expected to cost more than $40bn and would require building a natural gas pipeline across Alaska. Ishiba said it was "wonderful" that Trump had lifted a temporary pause on LNG licensing on his first day in office, and said Japan was interested in purchasing US LNG, ethanol, ammonia and other resources as a way to cut down on the US trade deficit with Japan. "If we are able to buy those at a stable and reasonable price, I think it would be a wonderful situation," Ishiba said through a translator. Japan is keen to increase its overall investment in the US to $1 trillion, Ishiba said. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Crude Summit: P66 eyes US northeast renewables: Update


25/02/07
25/02/07

Crude Summit: P66 eyes US northeast renewables: Update

Adds info on SAF, other details. Houston, 7 February (Argus) — US refiner Philips 66 is weighing producing renewable fuels in the northeastern US if more states adopt low carbon fuel standards. The company is considering producing renewables at its 258,500 b/d Bayway refinery in Linden, New Jersey, if state mandates are approved and implemented, vice president of renewables Suresh Vaidyanathan said on the sidelines of the Argus Global Crude Summit Americas in Houston, Texas, on Friday. The renewables could be processed along with traditional fuels at the refinery. Bayway is the largest refinery on the US Atlantic coast. Phillips 66 could possibly produce renewable diesel or sustainable aviation fuel (SAF) at the refinery, depending on the specifics of the state laws, Vaidyanathan said. The company said it is "constantly evaluating all of our assets for lower carbon opportunities." New Jersey senators last year proposed legislation to establish what could be the first US east coast clean fuels mandate. In New York, bills to establish a clean fuel standard now count the majority of the state assembly and senate as co-sponsors. But similar proposals have stalled in prior years, in part because some progressive lawmakers worry about potentially boosting biofuels at the expense of electrification. New York state agencies are separately studying the potential impacts of a "clean transportation standard" but have given no indication of when they could release their findings. Phillips 66's Rodeo renewables plant in California reported throughputs of 42,000 b/d in the fourth quarter of 2024 after beginning full operations last year. Phillips 66 said today it is producing SAF at the Rodeo refinery. United Airlines announced in December that it agreed to buy SAF from Phillips 66's Rodeo facility as soon as the product came online. Phillips 66's renewable fuels business logged a $28mn profit in the fourth quarter of 2024 driven by higher margins at the Rodeo complex and stronger international results. By Eunice Bridges Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Crude Summit:Tariff talk boosts TMX interest: Update


25/02/07
25/02/07

Crude Summit:Tariff talk boosts TMX interest: Update

Updates with details from Trans Mountain. Houston, 7 February (Argus) — The potential for tariffs on US imports of Canadian crude have driven shipper interest in exporting from Trans Mountain's docks on the west coast of Canada, as the pipeline's federal operator is weighing plans for expansions to boost the system's capacity by 200,000-300,000 b/d by the end of the decade. The 590,000 b/d Trans Mountain Expansion (TMX) pipeline, which came on line in May 2024, boosted the total capacity of the Trans Mountain system to 890,000 b/d, opening new avenues for Canadian producers to reach Asian markets. Trans Mountain has seen a "flurry of activity" in booking TMX capacity since US president Donald Trump's administration announced its intent to slap tariffs on Canadian and Mexican imports, Trans Mountain senior director of business development Jason Balasch told the Argus Global Crude Summit Americas in Houston, Texas. "The last few weeks, all of January, there's been a lot of interest from people who had not yet shipped on the line yet," Balasch said. Those tariffs on Canada and Mexico were set to take effect on 4 February, but Trump this week put them on pause until early March, pointing to progress in negotiations. "The tariffs have opened all level of government's eyes to talk of expansions," Balasch said. "We definitely expected it to drive demand for the dock." The TMX line has run recently at about 80pc of capacity, Balasch said. The 200,000-300,000 b/d expansion of the Trans Mountain system could be completed within four to five years, Balasch said. That expansion would be accomplished mostly by adding pumping capacity to the system's two existing lines. There are no plans to add a third pipeline to the system, he said. "We are focused on the quickest and economical way" to "increase access to the tidewater", he said. "I think everyone sees an egress constraint coming," Balasch said. The unpredictable tariffs situation has put expansion under a "magnifying glass," but Trans Mountain has not yet shopped its plans to shippers. The dual-line Trans Mountain system connects the trading hub of Edmonton, Alberta, to the Westridge Marine Terminal (WMT) in Burnaby, British Columbia, but volumes also go to the Burnaby refinery and southbound to Washington state via the Puget Sound Pipeline. There were 24 vessels loaded at the WMT in January, translating into about 425,000 b/d being exported on Canada's west coast during the month, meaning there is some room to expand the dock's 630,000 b/d capacity. Incremental heavy Canadian crude from Trans Mountain could be destined for China, as the US west coast is capped out at 200,000 b/d, Matt Smith, lead oil analyst Americas at Kpler, told the conference. That would require China to likely scale back on crudes from other origins amid slowing demand, Smith said. "Over the last couple of years Chinese crude imports have essentially flat-lined as their refinery runs have flat-lined," said Smith. This week's delay suggests the tariffs on Mexican and Canadian imports "are not going to come to fruition", Smith said. "There is a willingness to reach an agreement." By Chris Baltimore and Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Tariffs have ‘pluses and minuses’: ConocoPhillips


25/02/07
25/02/07

Tariffs have ‘pluses and minuses’: ConocoPhillips

New York, 7 February (Argus) — Threatened US tariffs targeting Canadian imports have both "pluses and minuses" for US independent producer ConocoPhillips which has production on both sides of the northern border. The company's primary exposure to tariffs would center upon sales from its Surmont oil sands operations in Alberta, Canada, into the US. "We sell around half of our Surmont liquids into the US on a mix of pipeline and rail," said Andy O'Brien, ConocoPhillips senior vice president for strategy, commercial, sustainability and technology. "But the remainder is actually transported to the Canadian West coast or sold in the local Alberta market." If tariffs were to be implemented, it is "pretty difficult" to say exactly who would carry the burden -- producers or buyers -- he added. "The refiners in the Midwest and the Rockies have less options to substitute versus, say, the Gulf coast or the west coast refiners," O'Brien said. The company's diversified portfolio would also help shelter it from some exposure. "If we were to see tariffs, we'd likely see strengthening differentials for Bakken, for [Alaska North Slope crude] and possibly even the Permian," said O'Brien. "So lots of moving parts." Like others in the oil industry, ConocoPhillips is looking at the potential to supply power to cater to the boom in AI data centers. "It's got to be competitive for capital, but it certainly looks like some growth opportunities potentially coming, and we're assessing some of those opportunities right now," chief executive officer Ryan Lance told analysts after posting fourth quarter results. Although the Trump administration has called on domestic producers to step up output, Lance said his priority was to drive further efficiencies in operations. "A lot of our focus and attention right now is on permitting reform," Lance said, and the need to build out energy infrastructure. Drilling approvals, rights of ways, and permits on federal land all slowed under the administration of former-president Joe Biden and there is an opportunity now to get back on track. "That just adds to the overall efficiency of the system and should lead to a more sustained plateau or growth in our production coming out of the Lower 48 in terms of liquids and certainly the growing amount of gas volumes that are coming as well," Lance said. "So it just creates a better environment for investment and more efficient operations." Full-year 2025 output at ConocoPhillips is seen in the range of 2.34mn-2.38mn b/d of oil equivalent (boe/d), which includes 20,000 boe/d of planned turnarounds. Fourth quarter 2024 profit fell to $2.3bn from $3bn in the final three months of 2023, as higher volumes were more than offset by acquisition-related expenses and lower prices. Averaged realized prices fell 10pc to $52.37/boe from the fourth quarter of 2023. Fourth quarter output of 2.18mn boe/d represented an increase of 281,000 boe/d from the same quarter of the previous year. After adjusting for acquisitions and dispositions, output grew by 6pc. As part of a $2bn divestment goal, ConocoPhillips has signed agreements to sell non-core Lower 48 assets for $600mn. They are expected to close in the first half of the year. By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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