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Bullboard - Stock Discussion Forum Nuvista Energy Ltd T.NVA

Alternate Symbol(s):  NUVSF

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the... see more

TSX:NVA - Post Discussion

Nuvista Energy Ltd > First Canadian Oil Export Cargo from Expanded Trans Mountain
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Post by Carjack on May 21, 2024 9:22pm

First Canadian Oil Export Cargo from Expanded Trans Mountain

(Reuters) — Crude oil tanker Dubai Angel on Monday moored at the Westridge Marine Terminal in Vancouver, preparing to load the first cargo of crude oil from the recently expanded Trans Mountain pipeline (TMX), ship tracking data showed.

Chartered by Canadian oil producer Suncor Energy SU.TO, the Marshall Islands-flagged vessel was expected to load about 550,000 barrels of Access Western Blend (AWB) for delivery to China, ship tracking data on Kpler showed.

The expanded Trans Mountain pipeline (TMX), which will ship an additional 590,000 barrels per day (bpd) to Canada's Pacific coast from Alberta, began commercial operations this month after years of regulatory delays and construction setbacks.

Flows on the pipeline and loadings from the Westridge Marine Terminal are being closely monitored by traders and shippers as the expansion gives Canadian producers more access to U.S. West Coast and Asian markets. Tightening supply of heavy crude has made Canadian oil more attractive to buyers around the world.

However, logistical constraints at the Port of Vancouver could limit the number of shipments, traders and shipping sources have said.

The Port of Vancouver, Trans Mountain and Suncor did not immediately reply to a request for comments.

Suncor said this month that it was leasing Aframax vessels in the Pacific and selling direct to customers, seeking to maximize profits on oil being shipped on TMX.

 
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