11:18:24 EDT Mon 01 Jun 2026
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Canadian Natural Resources Ltd
Symbol CNQ
Shares Issued 2,081,342,513
Close 2026-05-29 C$ 62.70
Market Cap C$ 130,500,175,565
Recent Sedar+ Documents

Globe says Cenovus, others told TMX nears full capacity

2026-06-01 08:47 ET - In the News

See In the News (C-CVE) Cenovus Energy Inc

The Globe and Mail reports in its Monday edition that the Trans Mountain pipeline system will reach full capacity this month, driven by increased production in Alberta and limited capacity in other pipelines. The Globe's Emma Graney writes that although Ottawa aims to sell the pipeline eventually, that plan is not imminent. First, TMX is planning a series of optimization projects to boost the system's capacity by roughly about 34 per cent, or 300,000 barrels a day. After all, TMX chief Mark Maki said: "When's the best time to sell a restaurant? When it's full." British Columbia's government now supports the optimization proposal, a significant shift from its previous opposition to the TMX expansion, which it argued would harm the marine environment. With such a huge bump in volume set to be added to the pipeline system, now simply "isn't the right time" to try to sell it, Mr. Maki said. He added: "If you try to sell it today, someone's going to go, 'Well, I don't believe you.' And so they're going to start discounting that." Adrian Dix, the B.C. Energy Minister, has urged Crown-owned utility BC Hydro to engage in talks with the pipeline company to support the optimization project.

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