Repsol Looks to Alberta to Replace Mexican and Venezuelan Oil
- Company would use rail to move barrels to the Atlantic Coast
- Repsol could get 500,000 barrels per month of oil sands crude
Photographer: Angel Navarrete/Bloomberg
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Repsol SA is looking as far away as Western Canada for oil for its European refineries amid dwindling supplies from Mexico and Venezuela.
The Spanish oil company is considering using rail to transport as much as half-a-million barrels of heavy crude a month 1,911 miles (3,075 kilometers) from Alberta to Montreal before loading it onto tankers bound for Europe, according to people familiar with the situation. The company has also considered shipping the crude to New Jersey for shipment to Europe.