XM does not provide services to residents of the United States of America.

PetroChina ends its role as committed shipper on Trans Mountain pipeline



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-PetroChina ends its role as committed shipper on Trans Mountain pipeline</title></head><body>

Adds details on PetroChina Canada operations and letter in paragraphs 2-7

By Nia Williams

Oct 11 (Reuters) - PetroChinaCanadawill no longer be a committed shipper on the Trans Mountain oil pipeline after assigning its contracts to another party, the company said in a letter filed with the Canada Energy Regulator, dated Oct. 10.

The recently expanded Trans Mountain pipeline has capacity to ship 890,000 barrels per day (bpd)of crude from Alberta's oil sands to the Port of Vancouver in British Columbia.

The company is a subsidiary of China's top oil-producing firm PetroChina 601857.SS and holds six assets in western Canada, including the MacKay River and Dover oil sands projects and a stake in the LNG Canada liquefied natural gas project, due to start operating next year.

A spokesperson for PetroChina Canada did not immediately respond to a request for comment on why the company had given up its committed shipping agreements.

PetroChina Canada wrote to regulators to say it was withdrawing as an intervenor in a long-running dispute between Trans Mountain and its committed shippers over pipeline tolls.

"PCC has now assigned these agreements to another party and will not be a committed shipper going forward," the letter said.

PetroChina did not name the other party.



Reporting by Nia Williams in British Columbia
Editing by Chris Reese and Diane Craft

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.