If you are wondering why your Canadian energy names are getting beat up:
Interesting article
wcs discount of 22, so you are only getting 51-52 per bbl
should get better in spring but those prices suck
https://www.oilsandsmagazine.com/news/2023/12/3/rising-us-output-takes-a-toll-on-canadian-oil-differentials
wcs discount $22
Re: wcs discount $22
Thank you for posting the link to the article. Helpful.
Here's an article re the Trans-Mountain Pipeline expansion project. At least as of when this article was written (3/2023), the expanded pipeline was expected to be in service in Q1 2024. https://www.transmountain.com/news/2023/trans-mountain-corporation-provides-update-on-the-expansion-project
Hopefully, we will see material improvement in WCS differentials starting in Q1 relative to prior years.
Here's an article re the Trans-Mountain Pipeline expansion project. At least as of when this article was written (3/2023), the expanded pipeline was expected to be in service in Q1 2024. https://www.transmountain.com/news/2023/trans-mountain-corporation-provides-update-on-the-expansion-project
Hopefully, we will see material improvement in WCS differentials starting in Q1 relative to prior years.
Re: wcs discount $22
From Reuters today:
Focus: Canada oil firms face losses as booming supply runs into Trans Mountain delays
By Nia Williams and Stephanie Kelly
December 5, 202312:43 PM CSTUpdated 2 hours ago
Dec 5 (Reuters) - Canadian oil producers are bracing for further potential delays to the Trans Mountain pipeline expansion (TMX) that could cost them millions of dollars in lost revenues in coming months after they ramped up production ready to fill the expanded line, meant to unlock access to Asia.
Producers entered 2023 thinking the 590,000 barrel per day (bpd) expansion - nearly tripling the existing pipeline's capacity - from Alberta's landlocked oilfields to the Pacific Coast would be filling with oil by year-end - the last step before full operations commence.
However, the project, about 95% completed, has been beset by construction issues in British Columbia, stoking concerns among traders and analysts that its start will be delayed beyond the current target of late March 2024. In October, TMX said linefill would start in the first quarter and take up to seven weeks.
TMX now awaits another regulatory decision on a request that, if denied, could add 59 days to construction plans. That comes after changing some of its route and dealing with a work stoppage for environmental noncompliances. A decision is due imminently.
https://www.reuters.com/markets/commodities/canada-oil-firms-face-losses-booming-supply-runs-into-trans-mountain-delays-2023-12-05/
Focus: Canada oil firms face losses as booming supply runs into Trans Mountain delays
By Nia Williams and Stephanie Kelly
December 5, 202312:43 PM CSTUpdated 2 hours ago
Dec 5 (Reuters) - Canadian oil producers are bracing for further potential delays to the Trans Mountain pipeline expansion (TMX) that could cost them millions of dollars in lost revenues in coming months after they ramped up production ready to fill the expanded line, meant to unlock access to Asia.
Producers entered 2023 thinking the 590,000 barrel per day (bpd) expansion - nearly tripling the existing pipeline's capacity - from Alberta's landlocked oilfields to the Pacific Coast would be filling with oil by year-end - the last step before full operations commence.
However, the project, about 95% completed, has been beset by construction issues in British Columbia, stoking concerns among traders and analysts that its start will be delayed beyond the current target of late March 2024. In October, TMX said linefill would start in the first quarter and take up to seven weeks.
TMX now awaits another regulatory decision on a request that, if denied, could add 59 days to construction plans. That comes after changing some of its route and dealing with a work stoppage for environmental noncompliances. A decision is due imminently.
https://www.reuters.com/markets/commodities/canada-oil-firms-face-losses-booming-supply-runs-into-trans-mountain-delays-2023-12-05/
Re: wcs discount $22
In the short term , thing's aren't looking good. The pipeline was held up for a toad that got in the way.
the pipeline operator asked for a variance and said if it were delayed, the project would slip 3 months
And this just in:
https://apps.cer-rec.gc.ca/REGDOCS/Item/Filing/C27543
Having thoroughly and carefully considered all written and oral submissions received, the
Commission denies the Variance.
this wont get done until mid year. Canadian EP's are screwed
https://boereport.com/2023/12/05/canada-oil-firms-face-losses-as-booming-supply-runs-into-trans-mountain-delays/
However, the project, about 95% completed, has been beset by construction issues in British Columbia, stoking concerns among traders and analysts that its start will be delayed beyond the current target of late March 2024. In October, TMX said linefill would start in the first quarter and take up to seven weeks.
TMX now awaits another regulatory decision on a request that, if denied, could add 59 days to construction plans. That comes after changing some of its route and dealing with a work stoppage for environmental noncompliances. A decision is due imminently.
Decision was NO!!
Dan, Our Canadians are getting creamed!!!
funny thing is they asked for a quick decision, so they took 4 weeks, then said no, with no reason given, then told them to tell the the Indigenous they didnt approve it
totally useless regulator
I just had a thought, since Ai is taking over the world, why dont we let ai handle regulation and fire all the morons involved
the pipeline operator asked for a variance and said if it were delayed, the project would slip 3 months
And this just in:
https://apps.cer-rec.gc.ca/REGDOCS/Item/Filing/C27543
Having thoroughly and carefully considered all written and oral submissions received, the
Commission denies the Variance.
this wont get done until mid year. Canadian EP's are screwed
https://boereport.com/2023/12/05/canada-oil-firms-face-losses-as-booming-supply-runs-into-trans-mountain-delays/
However, the project, about 95% completed, has been beset by construction issues in British Columbia, stoking concerns among traders and analysts that its start will be delayed beyond the current target of late March 2024. In October, TMX said linefill would start in the first quarter and take up to seven weeks.
TMX now awaits another regulatory decision on a request that, if denied, could add 59 days to construction plans. That comes after changing some of its route and dealing with a work stoppage for environmental noncompliances. A decision is due imminently.
Decision was NO!!
Dan, Our Canadians are getting creamed!!!
funny thing is they asked for a quick decision, so they took 4 weeks, then said no, with no reason given, then told them to tell the the Indigenous they didnt approve it
totally useless regulator
I just had a thought, since Ai is taking over the world, why dont we let ai handle regulation and fire all the morons involved
Re: wcs discount $22
The last time wcs blew out Refineries that could get their hands on it via train made huge money. I think DINO Sinclair was one of the beneficiaries.
biden tore up keystone after it was mostly finished and instead buys oil from iran and other dictators.
the insanity is mind blowing
biden tore up keystone after it was mostly finished and instead buys oil from iran and other dictators.
the insanity is mind blowing
Re: wcs discount $22
Careful what you wish for with AI - perhaps the politicians and regulators are already consulting with AI. 
Re: wcs discount $22
Looks like diving into Canadian oily stocks is here. Likely not factored into the stock price yet.
That and crack spreads rising. Everything is coming our way...
https://twitter.com/garquake/status/1769003164370403633
https://twitter.com/Energy_Tidbits/status/1768826604313260215
That and crack spreads rising. Everything is coming our way...
https://twitter.com/garquake/status/1769003164370403633
https://twitter.com/Energy_Tidbits/status/1768826604313260215
Re: wcs discount $22
So do you think we might see a Surge with a bullet?
Re: wcs discount was $22, now 13
Yes much improved now 13 and higher wti. surge and others should surge ahead as long as this last