Locator: 44425B.
WTI: $69.32.
Wednesday, November 27, 2024: 42 for the month; 92 for the quarter, 619 for the year
- 40551, conf, CLR, Sandhill 3-24H,
Tuesday, November 26, 2024: 41 for the month; 91 for the quarter, 618 for the year
- 40672, conf, CLR, Carpenter 4-13H,
- 37938, conf, BR, Parrish 4C TFH,
RBN Energy: PetroChina's decision to give up TMX commitment puts focus on demand, logistics.
PetroChina’s recent decision to offload its 20-year commitment to use the Trans Mountain Pipeline expansion (TMX) might seem like a bit of a head-scratcher on the surface, especially since Asian buyers have been expected to take advantage of the increased access to Western Canadian crude oil that TMX provides. But when you factor in the known challenges of utilizing the new pipeline and the reduced demand for crude oil in China, PetroChina’s decision to sell its commitment to Canadian Natural Resources Limited (CNRL) starts to make sense. In today’s RBN blog, we look at the challenges buyers face in using the TMX system despite its obvious perks.
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