15 March 2013 17:43 [Source: ICIS news]
TORONTO (ICIS)--Canadian sodium chlorate and chlor-alkali producer Canexus is developing a rail service to ship heavy oil and bitumen from western Canada to the US, the company said on Friday
The company, which ships its commodity chemicals by rail, is expanding its rail terminal at ?xml:namespace>
In a conference call on Friday, CEO Gary Kubera said Canexus is seeing strong demand for oil railcar shipping from oil-industry customers.
He said Canexus already has rail services contracts in place with Canadian oil firm MEG Energy and is close to completing deals with other customers.
In the longer term, Canexus might also invest in oil rail off-load logistics at locations in the
According to Toronto-based Scotiabank, western Canadian crude traded at a $36.94/bbl discount to WTI in February.
The long-delayed 1,900km Keystone XL oil pipeline project that would enable Canadian oil to reach US Gulf Coast refineries has yet to be approved by the
Canexus is a spin-off from Nexen, the Canadian oil major that was acquired last month by China's state oil major, China National Oil Offshore Corp (CNOOC).
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