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Imperial Oil ramping up crude by rail shipments after pipeline outage

Published 2019-11-12, 12:18 p/m
© Reuters.  Imperial Oil ramping up crude by rail shipments after pipeline outage
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Nov 12 (Reuters) - Imperial Oil Ltd IMO.TO is increasing shipments of Canadian crude by rail, after the recent Keystone pipeline outage created more favorable economics, Chief Executive Rich Kruger said on Tuesday.

"Certainly (we're) ramping up since the third-quarter call when there was the Keystone leak, provincial inventories went up, differentials widened, rail was back in the money," Kruger said during the company's annual investor day in Toronto.

"Whatever number I had in mind (for the fourth quarter), it's going to be higher than that number because of events that have occurred.”

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