Provincial Government Announces Deal with Rail Companies

The provincial government has made a $3.7 billion deal with Canadian Pacific Railway and Canadian National Railway for an estimated 4,400 rail cars to move up to 120,000 barrels per day by 2020. The government is hoping for approximately $5.9 over the next three years as a result of this deal. The government will purchase crude oil from producers and load it onto the rail cars at onloading facilities across the province. This is a part of the Crude-by -Rail strategy started by the government in 2018.