Government of Canada prepares to sell TMX

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Canada is amending regulations on how it manages the Trans Mountain pipeline in order to facilitate its sale to Indigenous groups, according to an official notice published in the Canada Gazette. The amendments would allow Canada Development Investment Corporation (CDEV), the crown corporation that owns Trans Mountain, to conduct certain transactions such as incorporating new subsidiaries without needing approval from senior government ministers.

The Aframax tanker, Dubai Angel, is the first vessel to load cargo from the newly expanded Trans Mountain pipeline at Westridge Marine Terminal in Burnaby. The tanker departed for China on May 22nd carrying 550,000 barrels of Access Western Blend according to Kpler. Suncor said this month that it was leasing Aframax vessels in the Pacific and selling direct to customers, seeking to maximize profits.

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