The Financial Post reports in its Tuesday edition Suncor Energy plans to open a second rail off-loading facility in Quebec to export oil sands crude from the East Coast. The Post's Jeff Lewis quotes Suncor in a regulatory filing as saying the facility planned for Sorel-Tracy, Que., northeast of Montreal, would "enable access to eastern tide waters for oil sands product" with deliveries commencing as soon as the second-quarter this year. No capacity was provided, but Suncor recently began shipping more than 30,000 barrels of Western oil a day by rail to a new off-loading facility at its refinery in Montreal. Suncor and Valero Energy Corp., which runs the second of Quebec's two remaining refineries in Levis, are counting on Enbridge's Line 9 reversal and expansion to substantially boost access to Western oil fields. Steady production gains in Alberta's oil sands and the U.S. Bakken have made crude from those regions cheaper to buy relative to Brent-priced oil. A decision on the plan to reverse and expand the flow of Line 9 to 300,000 barrels a day is expected within weeks. Suncor shares closed Monday at $36.65, up 12 cents on the Toronto Stock Exchange.
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