- Executives at Suncor Energy (NYSE:SU) and Husky Energy (OTCPK:HUSKF) downplay the severity of Canada's transportation bottlenecks, saying their existing pipeline commitments would help overcome constraints in the short term.
- “Right now, 100% of our production, including all of the production from Fort Hills (Alberta), we have pipeline access to get to markets,” SU COO Mark Little said at today's TD Securities Calgary Energy Conference.
- Husky has excess oil pipeline capacity to the U.S. and has enough capacity locked in to ship crude until about 2021, CEO Rob Peabody said.
- Most execs at the conference also were optimistic toward the completion of three main projects that are seen as vital for Canadian producers to transport oil to the U.S. and Canada’s Pacific coast: Enbridge's (NYSE:ENB) Line 3 replacement, TransCanada's (NYSE:TRP) Keystone XL and even the Trans Mountain expansion.
- But some companies expressed caution, including Cenovus Energy (NYSE:CVE), which said it is awaiting more clarity on market access before it restarts construction on two deferred projects that will have a combined initial capacity of 75K bbl/day.
- Now read: Analyzing The Effect Of The Syncrude Shutdown On Suncor
Original article