Bloomberg: Texas Crude Vies with Saudi Arabia for California Shipments

“The vessels are able to cross the Panama Canal, even before the $5.3 billion expansion that will double the waterway’s capacity. The project is scheduled to finish next year, with contractor Sacyr SA pledging to continue construction after threatening to suspend work unless the canal authority paid for cost overruns. The parties will continue talks until Feb. 1. The expanded canal could allow larger tankers to reposition from Alaska, according to Poten & Partners.”