Cenovus Energy ships oil to New Brunswick via Panama Canal

Image: TransMountain

Cenovus Energy is sending a shipment of crude oil through the Panama Canal to a refinery in New Brunswick, after loading at Trans Mountain’s terminal in Burnaby, B.C.

The company announced on Twitter the tanker Cabo de Hornos has begun its 11,900-kilometre voyage to Irving Oil’s refinery in Saint John, N.B., on Wednesday.

“We were pleased with the economics of this transaction and excited to work with another strong Canadian company like Irving Oil,” Keith Chiasson, Cenovus Energy executive vice-president, downstream told CBC. “This is a one-off shipment for now, but we think there’s tremendous potential for more oil from Western Canada to make its way east, expanding our customer base here at home. It’s truly a Canadian success story.”

“We will continue to work with industry partners like Irving Oil to find innovative market-based solutions aimed at refining more Canadian oil in Canada, providing job opportunities and strengthening Canada’s economy.”

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