November 12, 2019 / 5:19 PM / a month ago

Imperial Oil ramping up crude by rail shipments after pipeline outage

Nov 12 (Reuters) - Imperial Oil Ltd is increasing shipments of Canadian crude by rail, after the recent Keystone pipeline outage created more favorable economics, Chief Executive Rich Kruger said on Tuesday.

“Certainly (we’re) ramping up since the third-quarter call when there was the Keystone leak, provincial inventories went up, differentials widened, rail was back in the money,” Kruger said during the company’s annual investor day in Toronto.

“Whatever number I had in mind (for the fourth quarter), it’s going to be higher than that number because of events that have occurred.” (Reporting by Rod Nickel in Winnipeg, Manitoba)

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