Suncor leasing oil tanker ships to carry crude from Trans Mountain pipeline expansion

The Trans Mountain pipeline is finally pumping oil to B.C.'s coast, after countless protests and billions of dollars in taxpayer investment. Depending on where you stand, it's either a huge win for the economy or a significant setback for the environment. Aaron McArthur has the story.

Oldrieve said on Wednesday’s call that Suncor expects the crude oil loaded off the Trans Mountain pipeline onto tanker ships at the Westridge Marine Terminal in Burnaby, B.C., will be delivered primarily into California as well as Asian markets. Eighty per cent of the Trans Mountain pipeline expansion’s capacity is tied to long-term contracts with crude oil shippers, leaving the remaining 20 per cent available for spot shipments on a month-to-month basis.

Suncor itself said in a news release after the close of markets Tuesday that it earned $1.61 billion in the first three months of 2024, down from $2.05 billion a year earlier.

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