Thursday, July 17, 2008

Alberta resource is lost to Texas at 19% royalty


Alberta to Port Arthur Texas
Highlights:
The expansion includes a 36-inch (91.4-centimeter) line that extends about 3,200 kilometers (1,989 miles) to Port Arthur, Texas, from Hardisty, Alberta. An 80-kilometer line may be built to deliver Canadian oil to refineries in the Houston area, the companies said.
TransCanada Corp., owner of Canada's largest pipeline system, and ConocoPhillips plan a $7 billion pipeline expansion to provide additional capacity to ship crude from western Canada to U.S. Gulf Coast refiners.

The $7 billion addition would allow Alberta oil- sands output to be processed by Gulf Coast oil refiners who represent almost half of the U.S.'s refining capacity

Texas Keystone project. Customers have signed contracts for 300,000 barrels a day.
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