NEWS

Ceres Global to ship 25,000 bpd of oil by rail from spring 2014

CALGARY, Alberta, Nov 6 (Reuters) – Ceres Global Ag Corp expects to start shipping 25,000 barrels per day of crude oil by rail from its new unit-train terminal in Northgate, Saskatchewan, in spring 2014, CEO and President Michael Detlefsen told Reuters.

Shipments will increase to 70,000 bpd within three years, depending on demand and whether the price differentials between Canadian crudes and the West Texas Intermediate benchmark make shipping crude by rail economically viable, he said in a telephone interview.

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