Investing.com - Financial Markets Worldwide

UPDATE 2-Trans Mountain solicits pipeline nominations for June - traders

Published 2016-06-01, 06:21 p/m
© Reuters. UPDATE 2-Trans Mountain solicits pipeline nominations for June - traders
CL
-
KMI
-

(Adds company statement, paragraphs 4, 5)
NEW YORK, June 1 (Reuters) - Kinder Morgan Inc (NYSE:KMI) KMI.N
solicited nominations for space this week on its Trans Mountain
pipeline system mainline for June, two trading sources said on
Wednesday, as supply shortages from Canada's oil sands appeared
to be reaching the West Coast.
The pipeline, which moves crude oil and refined products
from Edmonton, Alberta, to the West Coast, is typically
oversubscribed, so the available capacity was seen as unusual.
Sources said Trans Mountain received reduced nomination this
month, after a raging wildfire in Alberta shuttered more than a
million barrels per day of crude production.
"In April/May demand for our pipeline continued to be strong
and was oversubscribed, however we did see a decrease in refined
product. This is due to the shortage of refined products in
Western Canada as a result of the Fort McMurray forest fires,"
said Lizette Parsons Bell, a spokeswoman for Trans Mountain.
The company added that decline had been offset by an
increase in other products being shipped on the line, and said
it expected the system to be full or nearly full during June.
The call for space by Kinder Morgan appeared to be one of
the first indications of a more national impact from the
production shutting in Canada's oil heartland.
While some facilities have resumed operations, analysts have
pointed out that Midwest refiners may feel the effects of the
Canadian outage longer as they move from maintenance into summer
demand season.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.