Canada's Oil Sands Exports to Asia Reach Record With New Link
A heavy hauler truck drives through a mine above the Athabasca oil sands near Fort McMurray, Alberta, Canada.
Photographer: Ben Nelms/BloombergThis article is for subscribers only.
Canada's oil sands producers were able to export a record amount of crude to overseas markets thanks to a new link to the U.S. Gulf Coast.
The recent reversal of Marathon Pipe Line Inc.’s Capline pipeline is sending oil sands crude produced in landlocked Alberta to export terminals on Gulf Coast where it can be shipped to other countries. Exports to Asia were at their highest ever, with India the leading destination by far, followed by China and then South Korea, according to oil analytics firm Kpler.