TransCanada Gulf Pipe Start Opens Path for Canada Crude
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TransCanada Corp. started moving crude on its Gulf Coast Pipeline, opening up a pathway for more Canadian oil to reach U.S. refineries.
The Gulf Coast line, also known as the southern leg of the controversial Keystone XL pipeline, was initially flowing at 288,000 barrels a day and transporting entirely U.S. light, sweet oil to Nederland, Texas, from Cushing, Oklahoma. It will ramp up over the course of the year toward its 700,000-barrel capacity and carry more heavy crude from Canadian oil sands formations, executives said in a press conference at the company’s headquarters in Calgary.