Strathcona Pitches 250,000-Bpd Oil Export Route to Asia - Crude Oil Prices Today | OilPrice.com
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Canadian oil producer Strathcona Resources wants to export up to 250,000 barrels per day of crude from British Columbia’s northern coast using rail shipments and a new marine terminal to reach Asian markets. But first, it needs Ottawa to make an exception to its oil tanker ban. Strathcona Chairman Adam Waterous told Bloomberg that the company plans to approach Prime Minister Mark Carney’s government as early as next week with a proposal to move crude by rail to a new export terminal in Prince Rupert. Waterous believes exports could begin within two years, considerably sooner than Canada’s proposed new oil pipeline to the Pacific coast, which isn't expected to operate until the early to mid-2030s. Canada currently sends roughly 90% of its oil exports to the United States, a dependency Carney has been looking to reduce amid trade tensions with Washington. There is, however, the matter of a federal law. Former Prime Minister Justin Trudeau's 2019 Oil Tanker Moratorium Act prohibits tankers carrying more than 12,500 metric tons of crude or persistent oil from loading or unloading along British Columbia's northern coast.
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