Canadian Pacific Railway Ltd. said it will spend more than C$90 million ($89 million) to boost trainload shipments of crude pulled from the Bakken formation in Saskatchewan and North Dakota.
The railroad will move more than 13,000 carloads, each carrying about 650 barrels of light crude oil, from the North Dakota Bakken this year, almost quintupling last year’s shipments, said Ed Greenberg, a CP spokesman in Minneapolis. The Calgary-based company expects crude shipments to grow to 70,000 cars annually.
