OPIS: Canadian Crude Glut, Huge Export Potential Expected on East Coast

“TransCanada’s proposed Energy East Pipeline project will be a game changer for Canadian oil producers and tanker owners, supplying the much-needed heavy Canadian crude to east coast refineries as well as opening potentially huge export opportunities, according to a report issued by Poten & Partners. “…Poten said that on Oct. 30, 2014, TransCanada filed a formal application for the 1.1 million b/d Energy East Pipeline Project with the Canadian National Energy Board. The combined capacity of the Eastern Canadian refineries is more than 700,000 b/d. The smallest one is the 115,000 b/d refinery in Come By Chance, while Irving Oil operates the largest facility in Saint John, with a capacity in excess of 300,000 b/d.”