irving oil tankers
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irving oil tankers

irving oil tankers

“It’s possible that the Irvings are thinking of a preemptive move to be able to shield themselves against tariffs, because after all, they would be buying Canadian oil, which would not be subjected to any tariffs.”. Despite this fact, the Trudeau government has allowed environmental issues in general, and climate change in particular, to dictate energy policy in Canada. The global pandemic may have come out of left field, but geopolitical threats to Canadian oil imports have been on the rise since Prime Minister Justin Trudeau first gained power in October 2015. Irving Oil, the operator of the country's largest refinery, is aiming to begin receiving more crude from Western Canada — delivered to New Brunswick in tanker ships — starting this summer. Snow Plows Pass Through Colorado Springs Amid Record-Setting Cold, South America Horticulture Lighting Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology, Application, and Cultivation, Senior dies after assault over 'insignificant misunderstanding' at CTrain station in August, police say, Lindsey Vonn Responds To 'Ruthless' Comments With Even More Swimsuit Pics, Mary Trump's Grim Analysis Of Trump Campaign: 'He Knows He's In Desperate Shape', 'A Mix of Seasons': Snow Falls on Autumn Foliage in Milwaukee, Goldman Sachs attempted to cover up sexual misconduct, lawsuit claims. And, really, when we're being challenged to be creative in terms of Canadians helping Canadians, this was one way that we said it was possible for us to do that. There’s talk in the U.S. and Canada about whether tariffs on foreign oil would bolster domestic supply chains, he said. 1. Canadian oil presently represents about a fifth of the Saint John refinery’s crude slate, most of which comes from offshore NL by domestic tankers, and a “small amount” from Western Canada by rail — and disrupted by nationwide rail blockades earlier this year.

Source: CBC News | This text was excerpted from the media outlet cited on April 30, 2020 and is provided to Noia members for information purposes only.
", In its application to the CTA, Irving Oil said it recognized recent events had caused the economy, and the energy sector in particular, to be in a state of crises, and that "it is a time for Canada to come together.". Irving Oil Limited’s recent move to source western Canadian crude oil for its 320,000 bbl/d Saint John refinery, the largest in the country, using foreign tanker ships rather than rail or non-existent pipeline is nothing short of genius and an indictment on Canadian energy policy (see Irving Oil Applies To CTA For Tankers To Ship Canadian Crude To Its Saint John Refinery). There is a great deal of speculation regarding the rationale for Trump’s trade war with China, but it is increasingly looking like an attempt to thwart the continued rise of a geopolitical competitor. "And, of course, all of the approvals and issues around the ships is really what we're working to get in place ... so that we have that option to buy Canadian crude as easily as we buy crudes from anywhere else in the world.". "We'd love to see that get much higher and get above the majority — if technically it works and from a logistics perspective all of that works out," he said.

It also wants to take delivery of Canadian oil from suppliers in Newfoundland and Labrador, as well as terminals on the U.S. Gulf Coast, where crude from Western Canada can be delivered by pipeline. Irving has not said whether the sourcing of western Canadian oil by tanker is part of a long-term strategy by the company, but as threats to foreign sources of oil rise in our increasingly geopolitically-charged world, the potential is there. This may not negatively impact Canadian energy security per se, but it increases the likelihood of the U.S. and Canada imposing tariffs on foreign oil imports to protect our domestic oil industries if Russian President Vladimir Putin restarts his oil price war once the worst of the global pandemic passes (see Oil Price War 4.0 Series Part 5 – Putin’s Masterstroke). The refinery has no coking capacity at the present time, but based on the experience of a number of refineries in the U.S. Midwest, the addition of significant coking capacity is possible if Irving management were to believe they could secure substantial amounts of western Canadian heavy at attractive prices — including the cost of transportation — over the long term. Tel: 709-758-6610 Earlier this week, the Canadian Association of Petroleum Producers said, in the short term, the Irving proposal offers a "desperately needed" expansion of the domestic market. The situation was made worse by an oil price war between Saudi Arabia and Russia, which contributed to a glut of crude worldwide that’s now filling up available storage space. "This would increase our capability to get access to Western Canadian crude, either from Vancouver or from the U.S. Gulf Coast, which is a slightly shorter route," he said. New Brunswick-based Irving Oil says it wants Alberta crude – but the lack of a pipeline means they are having to go to extremes to get it. through the Panama Canal. Irving Oil’s plan appears to want to use foreign oil tankers to ship Canadian crude from three key points, including from Burnaby, B.C., down through the Panama Canal and onto Saint John, N.B. Instead of rail cars, the company has applied to the Canadian Transportation Agency for permission to use foreign oil tankers to transport Canadian crude from Burnaby to its refinery in St. John. Irving Oil currently receives some oil from offshore Newfoundland as a routine part of its mix, Scott said, as well as a "small amount" of Western Canadian crude by rail. Had the Trudeau government put energy security at least on par with environmental issues when crafting Canadian energy policy back in 2017, it would have argued the $15.7 billion Energy East project was in the national interest — as it did for TMX in 2018, after originally botching regulatory approval of the project — to overcome opposition by the Quebec government and environmental groups, instead of allowing it to die on the vine. Irving suggested a start date of April 21 for the one-year tanker waivers in its application. ", PrairieSky Announces 2020 Third Quarter Results, Closing Prices For Crude Oil, Gold And Other Commodities, Pharmacy Brands Canada to Expand PrescribeIT® Service to Banner Members in Western Canada, U.S. issues fresh Iran-related sanctions targeting state oil sector, Giant Tiger Launches GT VIP in Western Provinces to Help Customers Save, How the CRA is coming after people who got double CERB payments, US Coast Guard Offloads Over 11,000 Pounds of Seized Narcotics in Port Everglades, '60 Minutes' says the huge book Trump's press secretary presented to Lesley Stahl as his 'healthcare plan' was largely filled with existing legislation. Irving Oil, the operator of the country’s largest refinery, says it wants to use more Canadian crude during the current economic crisis and has applied to use foreign tanker ships in order to get the oil to its operations in New Brunswick. A call made late Wednesday to an Irving Oil spokesperson was not returned. To conclude, Irving was an early backer of the 1.1 million bbls/d Energy East pipeline project, first proposed by TC Energy in 2014. There is no reason to believe a new one will be identical to the original one between the Soviet Union and the West, but with the continued breakdown of economic globalization the world could easily again split into trading blocs. Increasing the amount of Canadian oil the refinery uses would displace the crude imports the company gets from around the world, but it's not clear which shipments might be affected. That could be welcome news for a sector that has been hit hard by a steep plunge in demand for fuel as both consumers and businesses throttle back activity in the face of the COVID-19 pandemic. Peter Tertzakian, executive director of ARC Energy Research Institute, said it wouldn’t be the first time that oil from Alberta has taken such a circuitous route through the Panama Canal to get to Eastern Canada. “But the overarching theme is not different — and that is security of supply, redundancy of supply in the event of catastrophic events, such as a pandemic, and just the whole geopolitics of the world and trying to shield ourselves from things like price wars.”.

“Given the choice, Canadians want to use Canadian oil and the nation’s largest refinery should have uninterruptible access to oil produced in its own country,” he said in an email. "We have limited options today. At the present time, the configuration of Irving’s Saint John refinery is such that it should be able to process large amounts of western Canadian conventional light and medium crude, some synthetic crude oil (SCO) because hydrocracking capacity represents over a tenth of total crude capacity — allowing the company to boost the cetane level of diesel to specification — but fairly limited amounts of conventional heavy and dilbit.

The company wants to increase the mix of Canadian crude it uses, which is currently in the range of 20 per cent. In the past week, both The Wall Street Journal and Financial Times have warned we are edging towards a new Cold War.

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