Trans Mountain Pushed to Alter Specifications to Help Oil Value [Yahoo! Finance Canada]
Chevron Corporation (CVX)
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Source: Yahoo! Finance Canada
expanded Trans Mountain pipeline to change certain key specifications to improve the value of the crude the conduit is carrying. Most Read from Bloomberg The drillers are asking Trans Mountain to lower the vapor pressure and acid levels of the crude it will allow to pass through the line, saying that the current limits are reducing the value of the oil that's shipped and restricting where it can be refined. Trans Mountain, which is owned by the Canadian government, didn't immediately respond to an email seeking comment. ADVERTISEMENT The complaints are marring the startup of the pipeline's long-delayed expansion, which almost triples the volume of crude that can be shipped from Alberta to the Pacific Coast. Oil producers already had been upset by the high tolls they're being charged to use the line — partly a result of construction setbacks that caused the project's price tag to balloon sixfold to C$34 billion — and are arguing the shortcomings should allow them to pay less.
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