Here is update from Argus on TransCanada Keystone P/L and its first shipments of Heavy Canadian Crude.
The linefill is driving up differentials for Heavy Crude & diluent used for blends but the 220 MBD (2/3 hvy crude & 1/3 light oils) the P/L is expected to operate at will give some relief on refineries bearing brunt of decrease in Maya & Venezuelan heavy crudes. Some shippers may wait for demand & refinery production to recover to normal levels & the prices for Canadian Condensate diluten to improve.
One first deliveries will be for Woodriver – WRN Refinery one the two joint venture refineries for Heavy Canadian Crude between EnCana/COP that recent completed coker additions at both Woodriver & Borger & have expansion plans for an additional coker addition.
Regards
