Strathcona Pitches 250,000-Bpd Oil Export Route to Asia

AI Summary

Canadian producer Strathcona Resources is proposing an export route capable of moving up to 250,000 barrels of crude per day to Asian markets. The plan would use rail to reach a new marine terminal in Prince Rupert and requires an exception to Canada’s oil tanker ban.

Canadian oil producer Strathcona Resources wants to export up to 250,000 barrels per day of crude from British Columbia’s northern coast using rail shipments and a new marine terminal to reach Asian markets. But first, it needs Ottawa to make an exception to its oil tanker ban. Strathcona Chairman Adam Waterous told Bloomberg that the company plans to approach Prime Minister Mark Carney’s government as early as next week with a proposal to move crude by rail to a new export terminal in Prince Rupert. Waterous believes exports could…