Oct 21 (Reuters) - Canadian Natural Resources ( CNQ )
is taking over more space on the expanded Trans Mountain
pipeline from a unit of PetroChina, boosting its
ability to ship crude to markets after buying assets from
Chevron ( CVX ), Bloomberg News reported on Monday, citing a person
familiar with the matter.
Earlier this month, Chevron ( CVX ) agreed to sell its
assets in the Athabasca oil sands and Duvernay shale formation
to Canadian Natural Resources ( CNQ ) for $6.5 billion.
The 20-year contract will boost Canadian Natural Resources' ( CNQ )
space on the pipeline by about 75% to roughly 164,000 barrels
per day (bpd), according to the report.
The recently expanded Trans Mountain pipeline has capacity
to ship 890,000 bpd of crude from Alberta's oil sands to the
Port of Vancouver in British Columbia.
Earlier this month, in a letter filed with the Canada Energy
Regulator, PetroChina Canada said it would no longer be a
committed shipper on the Trans Mountain oil pipeline after
assigning its contracts to another party.
Canadian Natural Resources ( CNQ ) and PetroChina did not
immediately respond to Reuters' requests for comment.