Oil Prises and Condensate PrisesThinking out loud here. When the pipelines get filled to capacity, BBI will be getting more for their condensate as the price has increased > 10% in last 3 mths.
https://www.psac.ca/business/gmpfirstenergy/ | 11 Jan 18 - Edmonton Condensate | 77.85 | | | |
| 19 Apr 18 - Edmonton Condensate | | 85.84 | | | |
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$7.99 Increase or 10.26%
https://www.cbc.ca/news/business/oil-oilsands-wti-wcs-1.4626790
Last month, Cenovus Energy said it was running its oilsands operations at reduced productionrates and was storing excess barrels. The company said export pipeline capacity was at a "critical shortage" and was hurting the industry and the Canadian economy.
Export dilemma
There is no short-term answer to the pipeline woes of the industry, especially after Kinder Morgan suspended work this month on the Trans Mountain expansion project amid the continued political and court battles surrounding the proposed project. Rail shipments of oil are increasing in Western Canada, however that could be impacted by a potential strike at CP Rail.
Part of the reason the differential has narrowed recently is planned maintenance at some oilsands facilities, which was reduced some production and freed up pipeline space. That's why experts say the increase in Alberta prices may be short-lived.
Oilsands production is growing as projects like Suncor's new Fort Hills facility slowly ramp up to full production.