Asian imports of Canadian crude via the TMX pipeline are set to rise in September due to Japanese/South Korean and Brunei first purchases adding to those that have steadily been heading to China since it opened in May.

  • The cargoes, of 550,000 barrels each, to be delivered in September were sold at discounts of between $5 and $6 a barrel to ICE Brent according to Reuters sources.
  • Chinese demand for Canadian heavy barrels has been solid from Chinese refiners without access to Venezuelan volumes according to Kpler.
  • Refiners may take time to boost TMX volumes as they test initial cargoes.
  • TMX crude exports in June were at 343,000 bpd, with 187,000 bpd to China, 60,000 bpd to India and the remainder to U.S. West Coast refineries according to Kpler.
  • They are forecast at 350-400,000 bpd this month.
  • Indian demand for TMX cargoes has been limited because of abundant Russian barrels.

OIL: Asian Purchases from Canada's TMX Growing

Last updated at:Jul-15 10:01By: Andrew Couper

Asian imports of Canadian crude via the TMX pipeline are set to rise in September due to Japanese/South Korean and Brunei first purchases adding to those that have steadily been heading to China since it opened in May.

  • The cargoes, of 550,000 barrels each, to be delivered in September were sold at discounts of between $5 and $6 a barrel to ICE Brent according to Reuters sources.
  • Chinese demand for Canadian heavy barrels has been solid from Chinese refiners without access to Venezuelan volumes according to Kpler.
  • Refiners may take time to boost TMX volumes as they test initial cargoes.
  • TMX crude exports in June were at 343,000 bpd, with 187,000 bpd to China, 60,000 bpd to India and the remainder to U.S. West Coast refineries according to Kpler.
  • They are forecast at 350-400,000 bpd this month.
  • Indian demand for TMX cargoes has been limited because of abundant Russian barrels.

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