NORTHERN EXPOSURE: THE CANADIAN MARKET FOR CONDENSATE

摘要

There are several situations where crude by rail (CBR) may actually be cheaper than pipelines. According to analysts at Raymond James & Associates, one of the most misunderstood aspects of the North American CBR story is the relative cost to ship Canadian heavy crude. "There is no question that CBR for Canadian heavy oil is seen as the next frontier given the current price discrepancies throughout North America," the New York-based consultancy wrote in a recent report. "In our discussions with Canadian heavy producers, it is clear that CBR is gaining traction, but at the same time, there is reluctance to invest in the solution given the slate of pipelines on the drawing board.