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Gibson Energy Inc T.GEI

Alternate Symbol(s):  GBNXF

Gibson Energy Inc. is a liquids infrastructure company. The Company’s principal businesses consist of the storage, optimization, processing, and gathering of liquids and refined products. Its segments include Infrastructure and Marketing. The Infrastructure segment includes a network of liquids infrastructure assets that include oil terminals, rail loading and unloading facilities, gathering pipelines, a crude oil processing facility, and other small terminals. The Marketing segment is involved in the purchasing, selling, storing, and optimizing of hydrocarbon products as part of supplying the Moose Jaw Facility and marketing its refined products, as well as helping to drive volumes through the Company’s key infrastructure assets. The Marketing segment also engages in optimization opportunities. The Company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside, Texas, and including a facility in Moose Jaw, Saskatchewan.


TSX:GEI - Post by User

Post by Possibleidiot01on Feb 23, 2021 4:03pm
286 Views
Post# 32639350

from BNN Bloomberg

from BNN BloombergKeystone XL 'clarity' boosts Gibson Energy diluent recovery project: CEO CALGARY - The CEO of Gibson Energy Inc. says "clarity" about the future of the cancelled Keystone XL pipeline has prompted increased interest from potential customers in an expansion of its diluent recovery unit now under construction at the Hardisty crude transport hub in east central Alberta. Diluent, a light oil mixed with sticky, heavy bitumen from the oil sands to allow it to flow in a pipeline, makes up as much as a third of the volume of blended bitumen or "dilbit" headed to U.S. refineries. Gibson's project is designed to remove the diluent from dilbit transported by pipeline to Hardisty, allowing transfer of the concentrated heavy crude to railcars for shipping south, while the diluent can be recycled to Alberta oil sands producers. Gibson CEO Steve Spaulding says the first 50,000-barrel-per-day phase of its project is set to be in service by the middle of this year under a 10-year contract with ConocoPhillips Canada, which owns the Surmont thermal oil sands project in northern Alberta with French partner Total S.A. Gibson is partnering with US Development Group, LLC, to construct and operate the facility which is to connect with a new US Development off-loading terminal in Port Arthur, Texas, from which the oil will be distributed to refineries on the U.S. Gulf Coast. Canadian crude-by-rail export numbers have been volatile in the past year, with shipments rising to a record 412,000 bpd in February 2020, then falling to an eight-year low of 39,000 bpd last July.
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